Owning a home isn’t the best option for everyone. Maybe you’re not ready for that kind of commitment or maybe your financial situation isn’t aligned with the fluctuating prices of homes in the current market. Whatever the case, you still have another option—renting! There are several benefits of renting a house, and our talented team of real estate agents is highlighting them below.
For many individuals, renting a home right now might make more sense than owning one. The housing marketing is constantly shifting and changing, and the thought of owning right now can be headache-inducing. Renting is typically more cost-effective than owning and you generally don’t have to worry about additional expenses such as property taxes, maintenance, and home repairs. If you’re debating whether you should rent or own, the professionals at HomeStarr Realty share several advantages of renting a house.
When you decide to rent, your up-front costs are generally less expensive than a down payment on the purchase of a home. Renters typically have to pay a security deposit that is equal to one month’s rent. When purchasing a home with a mortgage, buyers are required to pay a down payment, usually around 20% of the property’s value. On a house that’s valued at $200,000, the downpayment is $40,000. Renting costs can range from $2,000 to over $4,000 in more expensive areas.
Probably one of the most convenient things about renting is that you will never incur maintenance or repair bills. Your landlord typically assumes full responsibility for all improvement and repair projects.
Property taxes are a significant expense that comes along with homeownership. They vary by county and in some areas, can amount to thousands of dollars each year. When you decide to rent, you don’t have to worry about these taxes.
Many landlords and management companies cover certain utility costs such as water or electricity. Even if utilities aren’t covered in your lease agreement, these bills are sometimes cheaper because the square footage of a rental is often less than a single-family home.
Whether you rent in a gated community or apartment complex, you might have access to amenities that would otherwise be an enormous expense. Luxuries, such as gym memberships or pools, are often standard and come at no additional charge to individuals who live there.
Have you been searching for house rentals in Yardley? If you don’t know where to begin, stop your searching and partner with the team at HomeStarr Realty! Our realtors are a great resource when it comes to renting because they know the housing market and can find you the best deal in Yardley. If you do not know where to start on your rental hunt, you can fill out an application online, and one of our agents will reach out to you shortly. HomeStarr Realty will provide you with all the information you need to find a rental in your area stress-free.
