There are many benefits to owning your own home and many people choose owning over renting. One of the biggest reasons is that monthly payment. It goes toward the payoff on your home….. not someone else’s. Even so, there are a good amount of people out there who still choose to rent. Here are some insights as to why:
You can easily change your mind and move somewhere else. You are not in a committed relationship for the long haul. Jobs, personal situations, income are just a few of life’s occurances that may cause a change in location or housing.
Rentals are low maintenance for the most part. No worries on maintaining the yard, fixing leaky roofs or paying HOA fees.
Your monthly utilities don’t break the bank if you are in a smaller rental compared with a large home.
You won’t sink into debt. There are not any up front costs except a security deposit and maybe a pet fee.
You can keep your options open! There may be homes or neighborhoods that you can not afford to purchase but you can afford to rent there.
Amenities! Pool, tennis, fitness center, jogging trails, boat landing, coffee shop are some amenities that you may see in neighborhoods or buildings that you rent in.
Renting may not be for everyone but it certainly has it’s upside! In the Charleston area, wether you rent downtown or in the many suburban towns and neighborhoods, renters abound! You may have a renter as your neighbor. It has become a strong and viable part of the real estate market here and it doesn’t appear to be slowing down any time soon!
