Real Estate

5 Best Things About Renting A Home

Living in a compact unit has its perks, too

Photography: Vincent Coscolluela (Main Photo)

Most of us have been raised by our parents to believe that owning a big and beautiful house is the only way to live when we become adults—in reality, however, that isn't always the case. Contrary to popular belief, there are some things about renting that you just can't beat. If you've been thinking about signing a lease, here are a few more reasons that may convince you to do it as soon as possible:

1. You can try different neighborhoods.

Never having to commit to one location is one of the best things about being a renter. When you get a new job, transfer schools or your lease runs out, you get to move and try totally something new.

2. You don’t have to worry about estate taxes.

When purchasing a house, you’d have to worry about mortgages and piles of real estate-related paperwork but if you’re renting, your landlord will do all the work for you. As long as you settle your downpayment and rent, you’re off the hook.

3. You can adjust your lifestyle according to your budget.

If life suddenly throws you a curveball—you may find yourself out of a job or on a tight budget—you can always move to a cheaper place at the end of your lease. If you own a house, it can be a bit more difficult to break free of the fees involved in maintaining a home.

4. You have access to different amenities.

From gyms to snack bars and swimming pools, many condominiums and apartment complexes have amenities that are incredibly convenient. The biggest bonus? 24/7 security, doormen and on-site maintenance to make sure your neighborhood is safe.

5. You don’t have to think about property values.

Property values constantly go up and down, and while this may affect homeowners who live in houses, it barely affects renters because the property titles aren’t in their name. If the neighborhood gets a little too rocky, you can always find some place new to live. 

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