6 Awesome Benefits of Renting vs. Buying

Is renting or buying better? Take a look at these 6 awesome benefits of renting vs. buying a home.

1. No String Attached

Renting gives you more flexibility than buying. Depending on where you live, most leases range from about 12-18 months. With no long-term commitment, you can easily relocate or make career or lifestyle changes.

Photo Credit: Vladimir Vladimirov (iStock).

2. Less Stress

If the refrigerator or sink in your rental home needs some maintenance, you don’t have to stress about the cost of repair bills. In most cases, the landlord is responsible for making necessary repairs to your rental property.

3. Amenities

Living in an apartment complex or townhome community often comes with a variety of amenities. From swimming pools to a fitness center, you’ll definitely want to take advantage of these added benefits.

Photo Credit: Anna_Om (iStock).

4. Stay On Budget

Renting helps you live well within your means. There are no hidden expenses like appliance repairs or HOA fees. Staying on budget is much easier when you have fixed expenses such as the cost of living.

5. Property Taxes

Paying for high property taxes every year can be stressful. Avoid the burden by renting an apartment or home. This is one benefit you’ll be extremely thankful for when renting!

Photo Credit: deberarr (iStock).

6. Reduced Financial Risk

The housing market is constantly fluctuating. When you purchase your very own home. you take the risk of house prices falling and potentially losing value on your property. You can limit this risk by renting until you feel financially prepared to buy a home.

At the end of the day, do what’s best for you and your family! Whether it’s renting or buying, there’s no right or wrong answer.