Ownership is one of the top lifelong dreams of most Americans. Most people consider renting as a temporary situation that they can’t wait to get out of. They believe that owning a property is an investment that would only yield great results.
Property managers Renthomes.com say a San Diego home for rent does offer its own perks, however, which you probably can’t get with being a property owner. Here are some of the most beneficial advantages that renting has as opposed to owning:
Maintenance and upkeep costs
Repair bills practically do not exist for renters. Repair bills are generally shouldered by homeowners. As a renter, you have the right to demand for it.
This is a common advantage when renting apartments and condominiums. Most of these come with community pools, gyms, and other facilities. Renting means you gain access to these conveniences, which would otherwise be quite a huge expense.
Real estate taxes
Unlike homeowners, renters are not required to pay real estate taxes. This offers renters wider financial freedom. Real estate taxes can be quite burdensome, and these vary from county to county.
Compared to buying your own property, you do not need to make a significant down payment to move in. Not having such a huge financial responsibility affords you the chance to have other investments.
Fluctuating property value
Homeowners benefit from their investment when their property value appreciates. When it does not, however, they will only end up wishing they had rented instead. Though dips in value may only be temporary, consider that this often entails a period lasting about 10 years.
Buying property is quite a big financial step. It entails quite a lot of financial responsibility, which may end up being more of a burden than a blessing. Before making the big step, consider these points carefully. You may realize that renting is more suited to your needs and financial capabilities.