The Advantages Of Renting A Family Home
Rent or buy? This is the question many families are faced with when they’re trying to find a home to settle down in. Buying is often seen as the desired option, with most people seeing renting as a temporary solution. But, contrary to what a lot of people think, long-term rentals aren’t actually that bad. In fact, there are some decent advantages for you and your family…
Responsibility Lies With The Landlord
As the owner of the property, it’s your landlord’s duty to take responsibility for it. They have to provide a safe place for you to live, full of normal and essential home comforts. If something breaks, then they have to pay for it to be replaced. This can save you a lot of money as any major repairs are their responsibility, not yours. Similarly, if you have an accident in a home that’s rented, then you could theoretically contact an injury law firm and sue the property owner. If the accident occurred because of an issue in the home, then it’s the landlord’s responsibility, and you can sue. If you owned the house, then everything is your responsibility, which can mean you have some added costs over time.
Freedom To Move Around
When you own a home, you’re almost resigned to being grounded in one place. If you wanted to move, you’d have to go through the stress of selling your home, which could take months/years. On the flip side, if you’re renting, then you can pretty much leave whenever you want. Some landlords have rolling contracts that go from month to month so you can leave whenever. The best thing is, you don’t have to sell a house, which removes so much stress from the equation. Not only that, but you aren’t left waiting around for it to sell.
Can Get Some Utilities For Free
Another significant advantage of renting a family home is that you don’t have to pay for some utilities. Of course, this depends on the home you rent, and the terms & conditions laid out when you sign the contract. But, in a lot of cases, you don’t have to pay a water bill. This is usually the case when you rent an apartment, as water is supplied to the whole building. As a result, you have one less bill to pay every month. This may not sound significant, but having one less monthly expense can really add up over the months and years. It frees up money to be put in your savings or to be used for other things in life. When you own a home, you have to pay for all your utilities, no matter the situation.
After reading this, renting a home doesn’t seem like such a bad idea! Naturally, there are disadvantages as well. When you buy a home, you own a piece of real estate, which can be very valuable as the years go by. You don’t own anything when you rent, which puts some people off. Having said that, perhaps the advantages I’ve listed have helped show you that renting could be a good option for you and your family!