What Are The Benefits Of Renting As Opposed To Buying

What Are The Benefits Of Renting As Opposed To Buying?

Homeownership is a trance for high percentage of people but achieving this dream in very youngest age is not possible for everyone, most of the young personals initiate their job period independently and then rented house become their first choice as purchasing a home need ample amount of time to save a sufficient amount that will come after gaining experience and staying in job for long. Renting is our limitation and purchasing is our dream. But renting is not a bad deal in many cases. Renting is something that appears to have an edge when people are saving or have to keep the money for some other goals.

The top realtors in the USA have collected various benefits of renting a house which can’t give even our own purchased home. And I am also focusing on some key points of renting a house in aiming to give you a better idea of renting as opposed to buying.

Here’s we try to collect some cost effective benefits of renting a home.

No Maintenance Cost- purchasing is not a one-time investment; plenty of other liabilities are also associated with it according to the top real estate agents. The best and the definitive advantage of renting over buying is that when you rent a house, you don’t have to pay any maintenance cost; landlords are the ones who have to bear this cost and getting stuff fixed. There can be leaking roof or some electronic

appliance damaged, all these costs has to be handled by the landlord and when you’re the owner, that is, you have your own property, all these costs have to be paid by you.

No Property Tax Burden on Your Shoulder- Another most beneficial advantage of renting over purchasing is that you don’t have to pay any property/real estate tax. The tax has always been deadweight to land owners, bigger the land means higher the tax and also varies from state to state. Although, when you have rented a house, you are totally free from this burden, worry.

Significantly Less Down Payment- Down payments is another key area where renting clearly wins.

When buying a property, the owner has to pay a good amount of down payment, mostly around 20 percent, while when renting a house, this down payment percentage decreases by 15 percent, that is, one has to pay only 5 percent of the property value to get started with renting, good strategy to save money right?

Relocation Becomes Easier- When you rent a house, the relocation factor works as per your need.

People with jobs might come across instances when they have to switch the profession or even companies due to some personal reasons, professional growth, it can be in other area or in other state and may be in another country and that’s why renting is a prominent option for all such working people as they can easily change place; can easily change home without any worry. Pack your stuff and put your feet in a new dream home.

Fixed Rent- In around 95 percent of the cases in housing and renting; the rent is fixed and the agreement is legally done between both the parties. The agreement is usually signed for a definitive period of time and the rent can’t be increased or decreased till the agreement expires, that’s another factor where renting is satisfactory and you have to pay only the agreed fixed amount monthly which doesn’t disturb your budget.

Bottom line is that renting is a perfect option that can help you save a large amount of money till your profession or life stabilizes or you can ready for big investment in housing. The choice of renting or buying totally depends on you; on your money; on your career goals; but some inputs mentioned above makes renting a big win over buying. For further details, you can connect with the top Realtor in the USA. Source: https://www.linkedin.com/pulse/what-benefits-renting-opposed-buying-fast-expert