Are you trying to decide whether you want to rent or buy? SoundSide Apartments in Fort Walton Beach, Florida has put together a list of reasons why renting trumps buying any day!
1. No maintenance costs or repair bills.
Think about it, if your air conditioner goes out while renting the landlord will be responsible for the repair. If you own your home you will have to fork out a hefty penny.
2. Access to amenities.
Another financial benefit to renting is having access to amenities that would otherwise be an enormous expense.
3. No real estate taxes.
On top of everything else, who wants to pay real estate taxes? They can be a hefty burden for home owners and vary by county.
4. No big down payment.
When purchasing a home you ideally need about 20% down. Renting you only need your deposit and first months rent!
5. Flexibility to downsize.
When renting, you have the option to downgrade to a more affordable living space at the end of your lease term if needed. When you own a home it is much harder to break free.
6. Fixed rent amount.
While landlords CAN raise rent prices with notice, your rent will be one fixed amount for the span of your lease agreement.
7. Lower insurance cost.
We all know renters insurance is much cheaper than homeowners insurance and it covers quite a lot.
8. Lower utility costs.
With homes getting larger and larger, it is often more affordable to hear and cool an apartment compared to a larger home.