We don’t rent out of choice; that’s a fact. There’s nothing worse than realising you’re paying more than 12 grand a month off someone else’s mortgage. But unfortunately, getting a deposit together isn’t easy when you have kids and general life changes!
So instead of beating myself up over the situation, I’m going to look on the bright side of life today and here are 5 benefits of renting, some really great reasons as to why renting aren’t that bad in the big scheme of things and can actually be a really good idea!
- Maintenance is Out of Your Hands
One of the big benefits is that keeping your home modern and up-to-date is actually someone else’s problem. So long as you’re happy with what you have, you won’t be the one that has to shell out for a fresh new kitchen or bathroom. So you might not be able to get the engineered wood flooring that you’ve been lusting over for years, but you get to save up for those kinds of expenses when you do eventually buy.
- Repairs
We’ve covered similar ground here, but the relief you get from not having to pay for major repair work really does get some stress off your shoulders. Your landlord has a duty to keep your home in a habitable condition and if anything significant isn’t working in the way it should be, they’ve got to deal with it. From leaky roofs to broken lights, you don’t have to do a thing.
- Value of Property Changing
Once you’re in the housing market, you’re in it for the long haul. That means that you have to be mindful of the way that it goes up and down with various different conditions. When you’re just the one renting, that doesn’t have too much of an impact on you. Renting costs are likely to go up slightly each year but don’t expect many major price jumps while you’re in the property.
- Quicker to Move
There’s a lot of people, hours and paperwork involved when you’re buying a home. A lot. It’s a complicated matter, and it takes a lot of different factors into account. There’s all of that, plus the size of the deposit. For this reason, it’s generally a lot easier to up sticks and moves to a different property if you need to when you’re renting. You’re not tied down in the same way, and you have a lot more choice open to you which is great if you have a family that’s growing too.
