As a teenager or young adult, you were most likely advised to save up your money and invest in a home. Although this may have been sound advice at one point, this is no longer the case.
Many people feel that renting a living space, like an apartment or condo, is more practical than buying a home.
If you’re still on the fence about whether you should buy or rent, be sure to continue reading.
1 – Finding a Quality Landlord Has Never Been Easier
In the past, finding a good landlord was like finding a needle in a haystack. You didn’t know what the landlord would be like until you met them or already rented their place.
Thankfully, this is no longer true. You can find a trustworthy landlord by using a condo rental management company that matches renters with high quality landlords.
These companies often do the rental process from start to end and save both the renter and landlord a lot of time. By using this type of technology, you’ll be in your new place in no time. Not to mention, many of these companies allow renters to use their matching service for free!
2 – Save Time and Money on Maintenance
When you own your own home, you’re responsible for maintaining it (or paying someone to maintain it for you). This can be both time-consuming and expensive. If you don’t have the time to keep up with necessary household tasks, you should consider renting.
When you rent, you aren’t responsible for maintaining the property. Instead, this becomes the property owner’s responsibility. This means that you can spend more time focusing on the things that you want to do, not the things that you have to do.
3 – Freedom
Have you ever considered yourself a free spirit? Do you have a job that requires you to relocate regularly? Do you like to take vacations for long periods?
If you said yes to any of the questions above, renting is the best option for you. Many real estate experts feel that you shouldn’t purchase a home unless you’re planning on living there for at least 5 years.
This waiting period will give the homeowner enough time to cover the costs of the initial purchase.
On the other hand, when you rent an apartment or condo, you’re not committing to the living space for very long. Many rental property owners offer monthly or semi-annual leases that are ideal for people who don’t want to feel tied down. If you need more space, you can look for a 2 bedroom condo for rent that accommodates your needs.
4 – Don’t Stress About the Property Value
Buying a home can be a roll of the dice. You never know when the value of the home will increase or decrease.
Several variables can influence the value of a home, including:
- School district changes
- Neighborhood quality
- Real estate market
- Interior/exterior damage
However, renters don’t have to worry about any of these issues. All they have to do is make sure that they hold up their end of the rental agreement.
Even if you’ve fantasized about owning your dream home, you should consider switching things up by renting your dream apartment or condo.