3 Benefits of Renting a Home vs. Buying a Home

real estate

Finding the perfect home is a major part of a person’s adult life. When looking into real estate, one person might choose to rent a home while another person might choose to completely buy it. There are so many different reasons why a person would choose one over the other. In this post, we are going to take a look at all of the good things that come with renting a home.

First, when you’re renting luxurious townhomes, you don’t have to pay as much up front. Usually renting requires a security deposit, but that’s it. Buying a home requires you to put down a downpayment, and pay for things such as inspections, repairs, and other things to make your home livable. Even if a landlord asks for first and last month’s rent when renting a home, the cost altogether is typically still less than it would be if you were to pay the mortgage of a home.

Another benefit of renting custom townhomes is repairs are not your responsibility. Usually, when you decide to sign a lease, you’re also signing all of the maintenance and repair issues over to the landlord. If you ever have a problem in your rented space, like the heater not working or the door not locking, all you have to do is contact your landlord. They’re even responsible for taking care of exterior maintenance as well. As much as you may love to cut the grass or plow your driveway, that’s one less thing to worry about when renting a home.

If you are the type of person that tends to move from place to place quite often, renting is perfect for you. Many homes for rent will offer a one year lease requirement, while many others may offer a month-to-month rent option. So if you have a job that constantly has you moving from one place to another, you won’t have to be worried about being tied to a single living space for a very long time. 

Finding a home is an exciting part of real estate, and many people choose to do it online. In fact, 44% of home buyers look online for potential real estate. While buying a home is awesome, renting a home is also another great option. Take a look at the benefits listed above when deciding if you’re going to rent or purchase a home.

New Home Facts

  1. The top three goals among current home buyers are privacy, family needs, and asset accumulation. \
  2. The top three reasons cited by millennials for buying a new home include getting married or moving in with a partner, becoming tired of their current living space, and planning to increase family size.
  3. 34% of recent buyers who purchased new homes were looking to avoid renovations and problems with plumbing or electricity.
  4. 44% of home buyers look online for properties.