Perks of Renting vs. Owning

Written by Posted On Thursday, 19 December 2019 06:11

If you’re deciding whether owning a home or renting an apartment is the best decision for you, you’re not alone. There are nearly 48.5 million rental units available in the United States, so clearly owning isn’t the only option, but is it the best option? It depends entirely on your personality and circumstance. If you’re not ready to settle and you’ve got a solid lease on a lovely apartment, you may want to stick around a bit longer. Here are a few reasons why.  

  1. Rent to Avoid Surprises

More than ever, families and individuals are living paycheck to paycheck. If you want to own a home, you need to be ready for the financial pitfalls that are otherwise covered by a quick call to the landlord. If you wake up at 2 a.m., shivering, only to find out your furnace is on the fritz, that’s a problem that needs an immediate fix, even if you can’t afford it. Sewage backups, water heater malfunctions, and more can all hit hard at the worst times.

  1. Don’t Hold Me Down

Do you love to travel? Does the potential love-of-your-life live overseas? Does your career require constant uprooting? If these apply, you might consider renting. Buying and selling a home every few years is a financial mistake (and massive headache), so if you aren’t sold on any one area yet, don’t commit yourself to a home.

  1. Convenience is a Double-Edged House Key

Sure, it can be helpful to have complete control over your home and the liberty to make changes as you see fit, but owning a home isn’t as convenient as it may seem. When is the last time you’ve visited a home with an expansive health club right down the hall? How about a luxurious, resort-style pool? Need a conference room? The amenities provided at an upscale apartment blow anything that you can find in an everyday home out of the water. These add-ons save you time and money on gym memberships, pool passes, and office rentals.

  1. Sensational Locations

There are highly-sought-after spots where a home is going to cost millions of dollars, especially in a big city. If you need to live close to work, sometimes renting is the only option.

  1. Save Money and Invest

While some consider the money you spend on a rental as lost forever, the income you save from repairs, taxes, and other home-related expenses can be used to invest. With an average of 6-7% return on your investments, a down payment on your next home can grow that much quicker.

This article is sponsored by Solstice Signature Apartment Homes, a luxury apartment community in Orlando, FL, offering spacious homes available for rent, located near Disney World, SeaWorld, and other local attractions.

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