Have you considered renting? What? You’re worried about whether you should or not? Have you considered the benefits?
Okay, fine, there are some negative points, and it may not be the best choice for everyone, but there are benefits, and it’s an excellent way to save up.
Being able to Save Money
While you’re renting you can save up a lot of money, allowing you to purchase a property of your own at a later date. While you might lack ownership equity for a certain duration, a lot of people are able to realize their dream of homeownership after living in a rental property for a short period of time. There’s no better way to save money, and in the meantime, you get to enjoy the amenities of your rental apartment and the freedom from maintenance worries!
You might be considering a monthly mortage on a home instead. But the rent for an apartment is usually less expensive! Granted, you’d have less space, but you don’t have to stay your whole life there. And you might save hundreds or even thousands of dollars, depending on how long you live there.
And that’s not all, there are some other ways in which you reduce your expenditure.
You know the way you have to maintain a property so that it’s comfortable? Well, when renting, there are a number of maintenance costs that will be the responsibility of the property owner. While there will probably still be a few things you have to deal with yourself (such as changing light bulbs), you won’t have to worry about major problems such as repairing leaks in the roof or buying a new hot water heater.
And the staff will often be responsible for outside areas such as gardens and lawns. However, if you’re renting a whole home rather than just an apartment, then you might have to take care of the grass or shovel snow off the walks or something similar. This isn’t always the case, it could be your good fortune that the home may come with lawn care included!
Another thing; The rent you pay often includes services beyond the rental unit itself. You may receive a local phone landline, internet access, and cable or satellite television services. If you take all this into account, you’ll find that those extra services save you a significant amount of money that you don’t have to spend! And over time, this adds up.
However, these items are often considered luxuries and they won’t be available in most of the homes you’ll find. Don’t spend too long searching for them, especially if you don’t have a large budget!