Homeownership is the biggest investment you can make, and with increasingly more people choosing to rent over owning a home, especially early on in their lives, it makes you wonder what makes owning a home less pleasant than just renting.
Below are some of the pluses to renting and some reasons why renting is looking more and more appealing.
Renting takes a huge load and stress off of your plate. Renting means that your dwelling is not your overall responsibility. Things like maintenance, upkeep, upgrades, fixing issues that arise, or replacing items, all of these things are not your responsibility when renting. Another great thing, the amenities. Depending on where you live, there can be a plethora of amenities such as pools, dog parks, gyms, tennis courts, and many more things. Homes don’t typically have these amenities unless you pay for and build them. Also, there’s not a huge down payment required. Minus first month’s rent and a security deposit, and no real estate taxes, you have yourself a pretty good incentive.
Renting takes away the fear of market crashes and devaluation on homes. Property is always going up and down as the market fluctuates. Renting ensures you don’t need to worry about timing the market on when to sell or buy a home. Rent is fixed and won’t go up during your signed lease agreement. Unlike homes, where property tax and payments can fluctuate, your rent will stay the same, during your lease agreement. Renter’s insurance costs less than $15 a month, and covers more than just renting; it can also cover damages you may cause to other homes and many other things. Utility costs will also be lower. Some apartments even have a cap included in your rent, so you only have to pay the utilities if you go over the cap.
The most important thing is knowing what you want. Renting can be the better option and save consumers a lot of money, but it may not be the right choice for you. Make sure to do plenty of research in home buying and apartment leasing before making a decision.
Go to https://www.lubbockapartments.com/ for research on apartments and other rentals in Lubbock for you and your families needs!