You may have seen some apartments and houses for rent, and heard that renting has its benefits, but what are they and why should renting even be considered?
We have compiled a quick list of 6 great reasons why renting could be a viable option as your next move.
1. Everyone likes flexibility
When you rent your home, you are able to upsize more easily as your family grows. Downscaling into a more affordable living space at the end of the lease is also an easier option with minimal paperwork and administration required. We know life can be unpredictable and with a sudden change of employment or unexpected move, you will be able to change your location more frequently.
2. Live anywhere
Who wouldn’t want to list their residential address next to the beach, or within that exclusive estate. Renting allows you to place that beautiful suburb on your next contact form. Choose your city, your suburb and your street that would otherwise be out of budget.
3. Budget Friendly
Rental amounts are fixed for the span of the lease agreement. While landlords can raise the rent with notice, you can budget more efficiently since you know the amount of rent you are required to pay at the end of each month. When purchasing a home, mortgages and the amount of the property tax can fluctuate. Real Estate taxes can be a hefty burden for many homeowners.
4. No maintenance costs
Renting a property means that maintenance and repair costs remain the responsibility of the Landlord. Even better, professionally managed properties take the burden of maintenance away from you completely. This way you will have the convenience of one contact and no problem finding contractors and overseeing works.
5. Lower insurance
Believe it or not but the only insurance you will need is for your actual home contents, that is, your personal belongings. Your landlord and owner of the home is responsible for the actual building’s insurance, ensuring that structural damage to your building gets fixed as soon as possible before it causes further damage.
6. Invest on your own terms
Whether you would like to start a business or invest in your retirement you would have additional money that can open new possibilities.
Still not sure if renting is for you? Have a quick look at Property 24’s article on the advantages and disadvantages of buying vs renting, here: