Getting More for Your Money
While it often depends on where you live, in much of the country over the last several years, housing prices skyrocketed, and what you could get for your money decreased greatly. While it’s true that the housing market is finally leveling out, renting can still get you more for your money. In cities like Los Angeles, where home prices are still quite high, you can rent the same 1,500 square foot apartment with all the best amenities for half of what a monthly mortgage payment would be on the same place.
In addition, many brand new condos and houses that were built before the housing crisis, and were meant for sale, are now up for rent at very affordable prices because no one is actually willing to buy them.
The Hidden Expenses of Owning
When you’re in the process of buying a house, you may be thinking about all of the costs associated with buying it, like the mortgage, the down payment, and the closing costs, but you’re probably not thinking about all of the other expenses of owning a home. When your pipes burst, you have no landlord to call to take care of it and foot the bill. You’re the one that has to lose a day of work waiting for the plumber to show and you have to pay for it. And that new lawn may be beautiful, but did you remember to buy the lawnmower to keep it looking that way? It’s all up to you now.
Are You Really Throwing Money Away?
You’ve heard it so many times: renting is just throwing money away, while owning means your monthly payment is going into something. But didn’t your mom ever tell you not to put all of your eggs in one basket? Not to mention the fact that many people have recently lost a lot of money on real estate. The money you save with a lower rent payment can go into many baskets: paying off debt, your savings account, your retirement fund, investments, and more.
The Ability to Escape a Rental
When you rent an apartment or a home, you’re not tied down to a monthly mortgage payment or to a particular place. Breaking a lease if you just got a new job on the other side of the country is a lot easier than selling a home. When you buy a place, you have to be sure that it is a place you love and that you want to live in for years to come. Moving after less than a year can be an inconvenience, but being stuck in a house that you don’t like can be downright miserable.
After years of being told that home ownership is the way to go, you finally have a few reasons to be happy that you rent. And if you’re in the market for an apartment to rent, you have the comfort of knowing that you’re making the right move for you.
About the Author: Tim Jims has lived in tons of places across the US. So to help spread the word regarding his experiences, he writes about living in apartments. For more information on Woodland Hills apartments, visit http://www.avaloncommunities.com.