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Why Renting Might Be A Better Option Than You Think
There’s an attitude among a lot of people that renting a home is only ever something of a temporary strategy. It’s something that you do in order to live independently while you’re working together with the funds and credit score to be able to actually buy your own home. Buying a home is one of those things that’s often held up as one of the most important things that you can do. However, considering how much more difficult buying a home has become in the last several years, that raises the question: are there ways in which renting might be the better option for you?
One of the major things that renting a home has above owning one is that you have much more flexibility in terms of where you live. After all, a mortgage is a serious commitment, no matter how you slice it. The sheer level of expense and difficulty involved in applying for a mortgage, finding a home, and dealing with all of the legal wrangling involved in it is enough to make you never want to go through it again.
This means that if a job opportunity comes up in another country or you decide that you want to relocate within a year or so of finding a home, that’s probably not going to be an option. However, when renting, all you really need to worry about is when your tenancy is up if you want to try living somewhere else for a change.
Of course, that doesn’t mean that there aren’t options out there for those who want to rent but don’t want to move around every year or so. Check out somewhere like Glamour Apartments and you’ll see just how many options there are for long-term rental. That way, you can start looking to the future more comfortably without having to go through the whole process of buying a home. After all, just because your renting doesn’t mean you should be stuck living in year-long chunks.
When you own your home, that means that you also own everything in it. Everything within your walls, and outside of them, is your responsibility which means that you’re going to have to deal with it if something goes wrong. However, if you’re renting and something goes wrong with the electricity, the plumbing, or any of the appliances, you can just call up your landlord and it’s their responsibility to deal with it. Sure, landlords can often be a little slow dealing with these kinds of problems, but at least you don’t have to worry about the damage that they’ll do to your bank balance.
Of course, none of this is to say that there’s anything wrong with wanting to buy your own home or that it’s not something that you should be striving for. It’s simply meant to show that you don’t need to end up putting quite so much pressure on your shoulders to be in a position to buy your home when there’s another, equally valid option right in front of you.
This is a collaborative post.