10 Benefits of Renting a Home

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You may not be ready for homeownership, and that’s quite alright. One of the best way to determine if you would like to go down that path is by renting a home. There are many advantages to renting a home:

  • More space

With a home, you have a bigger space, including a garage. After one or two events, you’ll know whether you’re up for becoming a permanent homeowner

  • Being able to “try before you buy”

Renting lets you try a home on for size to determine if you need more, or less space.

  • Flexibility

You’ll have the flexibility of being able to reduce or increase your living expenses and move if you choose to.

  • Cost-effective

Some bills are included depending on where you live. Additionally, if an appliance breaks, you aren’t on the hook for it – the owner is.

  • No huge down payment

You may have to pay 3 months, but that’s way better than $15 or $20K. This is cheaper than buying a house.

  • No foreclosure worries

The homeowner deals with foreclosure issues – not you. But, if the house is getting foreclosed on, you may have to move.

  • No taxes or homeowner’s insurance

You should have renter’s insurance to protect your things, but you aren’t responsible for any homeowner’s costs.

  • Property value

As a renter, you won’t have to worry about whether the value of the property is decreasing.

  • Fixed finances

You usually have the same expenses every month and don’t have to worry about taxes or if things break down.

  • No buyer’s remorse

You won’t have to go through purchasing a house to realize you don’t like it or the area.

 

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