The renting process doesn't have to be hard and there are many benefits to it.
Here are 5 reasons to Fall In Love Renting and make the most out of the experience.
1. Flexibility in where to live. There is no mortgage to tie a renter down. Once the lease is up, the choice to move or stay presents itself as a flexibility option. So for those who like to be nomadic, travel or just want a new place often, this is idea.
2. No big down payment or taxes. When purchasing a house it is expected that the buyer starts with 20% of the property value paid up front. It is not always feasible to save up that kind of cash. So renting has a lower cost entry with only the security deposit as down payment and that is usually returned as long as the property is taken care of. Plus there are no yearly property taxes because those are paid by the property owner.
3. There is way less risk in renting. The market does not change your rent value (without notice) and there are no big maintenance costs or big repair bills, providing the renter takes care to not exceed normal wear and tear. The landlord or property manager generally assumes responsibility for maintenance, improvement and repairs. If an appliance breaks down or the roof starts to leak, call the landlord.
4. Lower insurance costs. Renter insurance is quite inexpensive compared to home-owners insurance.
5. No renovating needed to upgrade to the latest styles and colours because a renter can simply move to another place to get the look they want.