Are you thinking about making your next move? COVID or not, the data shows plenty of Americans are moving.
One of the biggest questions people face is whether or not now is the right time to rent our buy. Before homeownership was seen as the path the wealth and stability, but thanks to a fluctuating market some people are wondering if it’s worth investing in something else.
The benefits of renting can’t be ignored if you’re thinking about moving. If you’re on the fence about whether or not you should buy or rent, read this post about the benefits of renting an apartment or home before you make your decision.
1. Worry-Free Repairs
Homes and apartments are in a constant state of needing maintenance. Appliances can break, pipes can leak, and holes in the wall need to be patched.
If you own a home you’re on the hook for everything related to repairs including roofs, furnaces, and windows. Aside from having to find an expert you can trust to handle the job, you’ll also have to worry about the cost of the repairs and arranging when work can be done.
When you rent an apartment, all of those headaches are handled for you with ease. You never have to worry about where you’ll get the money to pay for the repair because your apartment community will take care of it for you. Onsite maintenance crews are available to take care of any problem that may arise in your apartment with no out-of-pocket cost to you!
One of the biggest benefits and downsides of owning a home comes down to mobility. Buying a home lets you plant some roots and focus on growing a family and life in one area. The downside of that is being stuck trying to sell your home if things change.
You could find the love of your life across the country. There may be a dream job opportunity that could require that you move out of state. Your great aunt or other family members may need someone to care for them in old age. Life can happen at any time and being tied to a mortgage can make it more difficult to deal with changes.
The beauty of renting is that you can pick up and leave at almost any time. Even the most expensive early termination of lease costs aren’t anywhere close to the financial headache of trying to sell a home.
3. Fewer Long-Term Worries
Does the thought of the property you’re living in losing its value keep you up at night? Are you concerned about how upcoming elections could raise your taxes? Do you worry about the neighborhood overall losing its value?
If you were a homeowner you’d probably answer yes to all of those questions. Luckily, most renters will never have to worry about those issues.
Remember, homeownership is seen as an investment. That means constantly worrying about its value and what you can do to add to it. When you’re a renter your only concern is making your monthly rent payments.
Discover the Benefits of Renting
There are some people that find homeownership appealing, but the benefits of renting can’t be denied. When you have unparalleled flexibility, the privilege to not worry about repairs, and less to worry about in the long term there are so many reasons to rent instead of own.
Are you ready to enjoy the carefree life of a renter? Whether you want to know about Fort Wayne or are ready to put down a deposit on a unit today, we’re ready to help. Be sure to contact us with any questions or needs you may have.