When most people see a nice home, they think of the long-term investment it represents. They think of a family, long-established in a charming neighbourhood.
But this isn't always the case. In these days of skyrocketing housing prices, homes are just as likely to be rental properties. And there are numerous benefits of renting a home.
Let's check out some of them, including a few you might never have thought of.
1. Greater Flexibility
To begin with, let's start with one of the top benefits of renting a home: the sort of flexibility that buying a home can't match.
If you're more interested in exploring a city or town, rather than putting down permanent roots, this is an attractive reason to rent a home. Perhaps you're not attached to any one location. Maybe you'd like to see what other cities and towns have to offer.
Rental contracts often run for twelve months. Afterward, you're free to search for a new home to rent. The point is, you're not fettered by owning a home; renting a house affords you unparalleled freedom.
2. No Maintenance Headaches
Amongst the pros of renting a house is that you don't have to worry about maintenance costs and repair bills.
Owning a home means you are responsible for repairs and other upkeep hassles, but things are different when renting a house. Providing you rent from a good landlord, all the headaches that come from broken appliances, mould damage, leaky pipes, etc., are none of your concern.
3. Location, Location, Location
Here's the thing about renting a home: it gives you somewhat more affordable access to locations where home ownership is out of the question.
For instance, buying a home in beautiful St. Albert or downtown Edmonton might be out of the question for you. But choosing to rent expands your available options. Though still pricey, there are many more options within your budget.
4. Fixed Budgeting
Setting a budget, and adhering to it, is a difficult thing to do.
But it helps to have a fixed rent amount, which is maintained throughout the span of a lease agreement. This is another great benefit of renting a home that few people consider.
Homeownership comes with a heaping of variable costs that tend to throw any budget out of whack. This includes property taxes and fluctuating mortgages.
As a renter, however, you're insulated from these fluctuations, which allows for more efficient budgeting.
5. Better Quality and Amenities
Renting also tends to mean access to a better quality home than you might otherwise be able to afford.
Whereas owning a large home, well furnished, with access to downtown, might be outside your price point, it could very well fall within your means when it comes to renting. And this is why renting a home instead of an apartment could be a more attractive choice.
Discover the Benefits of Renting a Home
So there you have it—five benefits of renting a home that we think make renting an excellent first choice, rather than a last resort. If you're unwilling or unable to take on the chores of homeownership, renting a house is an attractive option.
If you're ready to begin your search for a home to rent, we're here to help. Contact us today, and let our team of top-notch agents find you a new place.