The rent vs. own debate will be a debate that never has a final conclusion. There are just too many advantages to both options. Renting cannot only be a means to get started, but it can provide a good bit of benefits as well. With all the benefits, make sure you have renter’s insurance to protect your belongings. Now let us dive into some of the advantages of renting.
Broken items don’t cost you money
One of the biggest advantages is that you do not need to replace items that break. You simply call up the landlord and report the broken item. The problem becomes their issue to correct. Sure, you have to wait it out until the repairman arrives to fix it, but that emergency fix is not coming out of your pocket.
A good example to use would be the furnace. A furnace should last a good bit of time, a decade or more at the very least. Now let’s say you rent a house that has a thirty-year-old furnace.
A surge of cold weather starts rocking your area just before Christmas. You turn on the heat only to find there is no warm air coming out. Oh, this just sucks… for the landlord.
You place a call to the landlord and he has to pay to get that furnace repaired. He will eat the cost of the emergency call and quick turnaround. Of course, this all happens if you have a good landlord. So make sure you have a landlord you can trust to take care of you.
Nomads have more freedom
There are people who just enjoy moving around. They like to live in different place and experience new things. For these people renting is key to this lifestyle. All they worry about is where to go next and how to get their renter’s insurance from one place to the next.
Buying a home can tie you down to one spot. Let’s say you get a job across the country and you rent. You turn in your departure notice. You pay any fines for early lease termination, and head on out to the new area. Homeowners have to consider getting a realtor and selling their home before they can move.
Lawn care is for the birds
This will be hit or miss for some people. There are people who really enjoy mowing the lawn and shoveling thick heavy snow. If you are not one of them, renting might just might be for you. Most apartment complexes and condos will handle all that outdoor work for you.
You could pay the neighbor boy to come by and do all this work for you. That would be right neighborly of you. What happens when he doesn’t show up, gets sick, or damages your neighbor’s flowerbed? You are responsible for that. Renters have no worries when their landlords take care of this issue.
Some people just like to own a home. That is great for them. Others have a good reason for renting. Armed with this list you can now hold your own in that ever-fun debate of renting vs. buying. Just don’t forget that renter’s insurance with all that debating fun.
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