Benefits of Renting a Home
When you’re searching online for places to live, you have a lot to consider, especially if you are trying to decide whether to purchase a home or consider rental houses. There are a few reasons why it may be more advantageous to consider rental houses over buying a home, including flexibility, stability, minimal risk, and maintenance expenses. At Middel Realty, we pride ourselves in offering high-quality Fort Collins rental homes, and we’d love to show you why our rental homes are superior to some of the houses that are for sale in the area. View our rental homes online and call our office at 970-221-2300 to get started!
Financial Flexibility and Stability
Rental properties can be incredibly beneficial for those who are seeking to be financially flexible and stable. This is because when you rent a home, your monthly expenses will be fairly predictable, and there is little to no risk of unexpected expenses related to where you live. When you own a home, you may be faced with troublesome events like roof leaks, broken plumbing, pest invasions, and situations that can present a financial burden if you don’t have adequate money in savings. Additionally, if you hit hard times financially, as a renter, you can always look to quickly reduce your living expenses to accommodate your needs.
No Market Risk
While owning a home comes with many financial benefits, it also comes with a moderate amount of risk in terms of the housing market. Seemingly overnight, the value of your home can either increase or decrease exponentially, placing your down payment and equity at risk. Additionally, if your town decides to change zoning restrictions, your quiet neighborhood that was once on the edge of town could soon be crowded by big box stores and restaurants. When you rent a home, you get the benefit of living in the neighborhood and home that you want with none of the market risk.
Career and Lifestyle Flexibility
We all know that life can throw some curveballs every now and then. Some of these unplanned events come in the form of changing relationships and job opportunities. Imagine that you suddenly find yourself either in a new relationship or ending a current one, or, that you are unexpectedly offered the job to your dreams halfway across the country. If you own a home that suddenly doesn’t work with career or lifestyle, it can be difficult to sell your home on the fly. However, if you rent a home, it can be much easier to move in order to accommodate your changing career and lifestyle.
No Maintenance Expenses
Home ownership comes with a lot of responsibility, and many of those responsibilities equate to maintenance expenses. When you own a home, especially if it is managed under a Homeowners Association (HOA), you are directly responsible for making sure your yard is maintained well, your snow is removed in a timely manner, and that the exterior of your home is in good condition. Beyond that, everything on the interior of the home, from the floors to ceilings, must also be maintained on your own dime. With rental houses, the property management company takes care of many of these maintenance expenses.