The Benefits of Renting vs. Owning a Home
Renting vs. owning that is the question. As long as most people can remember, the American dream has been to own one’s home. However, as economic conditions, as well as people’s goals, have changed over the years, the trend has been for more and more people to consider renting a home instead of buying. While many people believe there are tremendous financial advantages to owning property or even various properties, the fact is when the economy takes a downturn, people often reap many more benefits if they choose to rent. If you’re looking for a home in Redding, it may be to your advantage to look for one that has a For Rent sign in the front yard instead of one saying For Sale.
No Need to Worry about Maintenance or Repairs
If you’re renting an apartment or even one of the many beautiful homes in the Redding area, you’ll enjoy the advantage of not having to worry about maintenance or repair bills. Since a property management company will be responsible for maintaining the property, you’ll be able to sit back and relax if the roof starts leaking or an appliance breaks down on the weekend. And let’s face it, if you’re a homeowner, trying to get expert repair service late at night or on the weekend can turn your life upside down. And as those who own homes know, one broken appliance or a leaky roof can result in thousands of dollars in repair costs. If you are renting vs. owning your home or apartment and it is one quick call.
One Amenity After Another
Whether you’re renting apartments or enjoying the many home rentals available in the local area, it’s clear residents have plenty of amenities from which to choose when they rely on property manager in Redding CA. From in-ground pools to fitness centers and more, most of these amenities are included in the rental cost, enabling residents to have a lifestyle they might otherwise not have if trying to pay for a home since it would cost thousands of dollars to purchase and install pools or other amenities. And even if a person owned a condo, they could expect to pay enormous monthly fees to enjoy these and other amenities.
No Real Estate Taxes
As homeowners can attest, one of the most significant expenses they face annually is real estate taxes. However, if you’re renting a home or apartment, taxes are something you don’t have to worry about. By choosing to rent a property rather than own it, you can leave the taxes behind and save your money to spend on things that are much more fun.
Don’t Worry About a Big Down Payment
Why Renting vs. Owning may be a better choice. If you’ve tried to sit down and think about how much money you would need for a down payment on a house, chances are you got discouraged pretty quickly. However, if you’ve chosen to rent from a property management company, you’ll need far less money to move into an upscale apartment or condo. On average, a person looking to buy a home will need a down payment of at least 20 percent, while a rental property will usually only require the first month’s rent plus a security deposit.
Greater Flexibility to Move
If you buy a house and then find a great new job hundreds or thousands of miles away, you’ve got your hands full trying to sell your property. However, if you’re renting a house or apartment, you’ll have little difficulty getting to your new destination if you work out fair terms for departure with property management Redding CA. When signing a lease, try to make sure it has some clause that allows you to leave early if necessary.
If there is one thing homeowners hate, it’s watching the values of their properties decline due to economic downturns. But if you’re living in a rental home or apartment, you’ll see little if any impact from these economic conditions.
By taking a good, long look at the type of living situation you need and prefer, chances are you’ll discover that renting a home will pay off far more than owning one. Whether it’s having greater flexibility to move or not having to worry about real estate taxes, renting a house or apartment with numerous amenities can make life very enjoyable.
We can see many reasons why renting vs owning would fit many situations. Want to know more we would be glad to discuss your situation. Give us a call at 530-410-6085
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