Date Posted: 2012-07-20 10:29:30
Site Posted: Myproperty.ph
No matter how many people say that buying your own home is much better than renting, there are still those who refuse to get on the bandwagon. When renters see the trouble that mane homeowners go through with issues like, mortgage payments, it justifies their decision even more.
If you don’t feel like taking on the challenge of being a homeowner just yet, don’t cave into the pressure of purchasing a property; there are a lot of reasons why living in a house, apartment or condo for rent makes sense to you and a lot of people.
1. Proximity to conveniences – A lot of rentals these days are located in areas that are really close to places that you go to all the time, such as your job, your child’s school, banks, hospitals and malls. This means that you get to spend less time getting to these places than actually being in them.
2. Mobility – If you own a home and need to relocate for some reason, you have to go through the trouble of figuring out what to do with your home. If you rent out, you have a lot of legalities to accomplish, and then there’s the trouble of finding a tenant and keeping tabs on them. Selling is no easier; finding a buyer and negotiating back and forth is not a situation everyone can handle. Renting is impermanent in nature, so moving from one apartment or condo to another is much easier.
3. Less costs – Most homeowner thing that they’d save by buying a property far from the city, but this decision undoubtedly took its toll on their transportation costs. Add to this the fact that they need to spend for repair and maintenance by themselves and they end up with just enough to get by, which is not good if an emergency like an illness strikes. Landlords normally take care of regular repairs and maintenance, which immediately saves money. Also, since you’re not paying for mortgage, you normally have some money available that you can spend on something else.
4. Simplicity – Homeowners always have the urge to add to or change their home; it’s their home, after all, and they can do what they want. Unfortunately, this ‘freedom’ also leads them to spend a lot of money in the process. Renting keeps things simple; you know your limits and you can easily adapt to a trimmed-down lifestyle, which not only saves money but lessens clutter.
Renting may not be the ideal set-up for everyone, but if it works for you, then you shouldn’t regret making that decision. Besides, in a rental, you can give homeownership a lot of thought before diving in without feeling the pressure of upcoming payments looming over you.
Jillian Cariola, Writer
(cover image by Phil Sexton)
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