For decades, home ownership has been viewed as the American dream. However, that perspective has shifted for many people who find renting to be a more reasonable option. Buying a home is a major financial and life commitment, and it’s not necessarily the right choice for everyone. The property management team here at Realty Roundup has worked with hundreds of Sacramento County and San Joaquin County residents to help them find the perfect rental home where they can enjoy all the benefits of being a tenant.
Here, we share the top advantages of renting a home over becoming a homeowner:
- More Money in Your Pocket: Although mortgage payments are comparable to rent, there are many other expenses associated with owning a home to consider. You must pay upfront costs for the down payment and closing fees, as well as out of pocket for repairs and home improvements. As a renter, you don’t have any of these financial obligations and can save the extra money or spend it elsewhere.
- Fewer Maintenance Responsibilities: When you’re a homeowner, you must put time and effort into maintaining your home. If you rent your living space, the landlord or property management company will take care of the maintenance responsibilities, and you will be free to spend your time however you wish.
- More Flexibility to Move: Purchasing a home is a long-term commitment, so you must know you’re ready to live in one location for the foreseeable future. Renting gives you the flexibility to relocate at any time for work, to be closer to family, or to simply try out a new neighborhood.
If you’re on the fence about whether you should rent or buy a home, it’s important to weigh your options carefully. Keep in mind with so many excellent reasons to rent, there’s no need to rush into home ownership. Contact our office for more information on rentals and availability.