Monday, October 19, 2015

Why Buy When You Can Rent

Buying is NOT always better than renting!

Home ownership is a personal choice and it is not for everyone. Buying a home is a huge commitment, and therefore we often struggle with the rent-or-own argument. If you are unsure which option is best for you, here is some information to help you in the decision-making process. While making your choice, it is important that you know all the advantages to renting your next apartment home!

Advantages of Renting:
  • Renting can cost you less money than buying a home, ultimately leaving you with more flexibility to invest your money in other areas. If working on your long-term savings plan is an immediately goal of yours then renting is something you should consider.
  •  There is limited responsibility in renting! You are not responsible for some of those big financial repairs such as the roof or cooling/heating system. When you rent the landlord picks up the taxes, insurance, repairs, and sometime some of the utilities. There is definitely a benefit to renting and having a landlord.
  •  Location! Location! Location! You have the mobility as a renter to move as much as you’d like without the responsibility of trying to sell your home. Renters have the flexibility to move as they please and with ease. If you like living in the newest hip spot or need relocation flexibility due to work, then renting will best suit your needs. 

Financial Considerations:
  • Down Payment versus Security Deposit. If you are going to buy, you must be ready to financially secure your home. The down payment of buying a home is going to be substantially larger than a security deposit on your apartment rental. 
  • No landlord! If a pipe burst or the air conditioner gives out then you will be the one responsible for the entire repair cost. You must be ready for the maintenance expenses that come with purchasing a home such as the property taxes, homeowners insurance, and lawn care services. 

We all know that owning a home is part of the american dream, but in many situations it is actually much more advantageous to rent. If you have decided to rent while you prepare to buy or have just decided that renting is what makes you happy; San Antonio Apartments Now is here to help you with your rental search process. We can help you make sure your next move is a smart move!