5 Surprising Reasons why Renting may Top Owning

apartment for rent sign

Veronica Davis is a freelance copywriter for businesses online. She currently writes for RentingTime.com where you can find all kinds of apartments for rent. She also works extensively with a number of other real estate related sites and realtors, helping them with their website content, blogs, social media and marketing.

I’m sure you’ve heard that it’s always better to own your own home rather to rent a home or apartment. However, there are actually quite a few reasons why renting could top owning. Yep. You read that right. Someone is telling you that maybe renting is a good option after all! Here are five reasons that you may just want to start looking at apartments for rent.

1. Flexibility

Renting an apartment means you are able to move anytime anywhere with no hurries and troubles. You can move to any other apartment or house whenever you want. However, you’ll often have to pay a small fee as a penalty. Think about it. If you buy your own home and you want to shift to different place, it could take a long time to sell the house. Until you get it sold you will not be able to move to the new place you want to live (Well, you could, but it isn’t going to be easy or cheap).

2. No Maintenance

Owning your own home means you are completely responsible for every little repair and all the maintenance. If something gets broke you have to get it repaired, because after all it’s your own home. There are a lot of things in your home that can’t really be repaired and if they get broke, you have to buy a new one. Your refrigerator, AC and many other products are there which could cost thousands of dollars to repair. Buying new could be even more expensive. When you rentan apartment or house these worries go to your landlord. Your landlord is responsible for repairing anything that needs fixing. Before signing your lease, inspect the apartment to ensure there aren’t existing damages and be sure you understand exactly who is responsible for what repairs and damages throughout the time you are going to live there.

3. Buying is Expensive

Buying your own could save money over time compared to renting, but usually only if you’re positive you want to live there forever. If you have a transferable job and move regularly to different places, then buying a home could be an expensive deal. You would be better off in most cases to rent an apartment, which will save money and allow you to move easily to different places. If you buy a home you have to pay the taxes, too – which are not an issue if you rent.

4. Insurance Costs

When we talk about the insurance or coverage of your house or apartment, rental coverage is cheaper than home owner’s insurance. While calculating the different rented insurance costs, it is around ten times cheaper than insurance on a home or apartment that you own.

5. Fluctuations in Prices

Property will always have fluctuating prices. If you buy a home, then you might not get a similar price when you try to sell it. Of course, the opposite can hold true as well. You may be able to get more than what you paid. But if that’s not something you’re comfortable with, you can always rent your apartment or home and never have to worry about it.