Why Is It Better to Rent than to Own a Property?

Owning a home may be a huge goal for some and may be a life goal too but getting a house might not be the solution since owning a home isn't for everyone. 

When I was a student and studied at the downtown metro, I had to rent instead of travelling 3 hours from home. There are many advantages and disadvantages too when renting based from my experiences. I've been renting here and there for several years and from all those experiences I gained, let me share some tips on why is it better to rent.

What I usually do before I transfer to a different place, is to make research. Lots and lots of research will land you to a great place where you can achieve the best place which provides the most reasonable rate. Zumper helps me a lot on that. It cuts my research time to more than half and it usually gives me the best market summary in a place. 

When my husband asked how much are we going to spend if we move to Houston in case he'll be based there, I just had to type the place and according to Zumper, the updated average rent for 1-bedroom apartment in Houston is $1,100. It's so easy to check and now we have an idea on how we can spend when we transfer there. 

To be honest, renting can give more flexibility on where to live. As renters, it's easy to live anywhere especially if work needs you to move often. It is also an opportunity to experience expensive cities that are out of reach for buyers but is possible for the renter. I grew up seeing my uncle moving from one city to another and living the best life. He's a free-spirited individual and just enjoy his life with all the adventures in it.

No repair costs since most of the time the landlord takes responsibility on these issues. You just have to be clear with terms like this before you move in. Home owners on the other hand covers repair costs or  any additional costs or bills that might happen at home. That's additional repair costs and extra task if you own your place. 

There are also some rent places where you can enjoy the amenities offered such as pool, gym area, among others. These are usually offered to members or tenants with no extra or additional costs. On the contrary, home owners who would like to add these will need to consider slashing a huge amount in making it happened. 

The bottom line of this is that, whether you choose to rent or own matters to what you want and what your goal in life. Owning a home is great especially if you like to have a property under your name and a place you can exactly call yours. However, if you want to avoid all the hassle in accumulating home ownership, all the costs and taxes, renting your place might be the better option. After all, the choice on where to live depends on one's lifestyle, and financial standing. In the end, you can choose what your heart desires where to stay.