For some people, renting is the best home option. if you cannot afford to buy a new home, living in an area temporarily, got a new job location or have a flexible life; renting may be the best second option to home owning. In the home owning business, renting always get a bad reputation form the majority of people. Although some of the things about renting homes may be true, others are designed to keep people away from these types of homes. in the recent year, people have started changing their minds about renting homes and adopting to this type of lifestyle.
Check out these major myths about renting.
Some people assume that renting a home or apartment is like throwing the money away. I’m sure you have heard people say that renting is a waste of time and money and will not benefit you in any kind of way. Even though you are not investing or gaining equity from the home you just rented, you get a place that you can call your home for a while. Paying for a home is not same as using the money for something useless or just throwing it away on the streets.
With renting, you will avoid all the household maintenance costs. We really underestimate the value of saving money on such costs on our own homes. When you pay the rent money, the repair services, upkeep and even the cost of your utilities are usually included. Remember, buying a home may not be the wisest financial decision. If you are currently living in an expensive housing market and do not have s table job or enough money to save for the down payment, the best choice you can make is to rent. For the most part, renting favours your financial interests.
I have heard several people state that with renting, you do not have any negotiating powers. This is a common myth that is based around the relationship between the tenant and landlord. People assume that the landlord holds all the power in this case. Contrary to these beliefs, you as a renter hold a great negotiation power over the landlord as you sign the lease. If you are planning on renting the house for a shorter period, you can ask the landlord for a mortgage clause if you have plans to buy your own home or job relocation if you have moved there due to job purposes.
People say that it is very difficult to get out of the rental lease, which is just a common misconception. This is why professionals advice renters not to sign a long term lease, especially when they know they are about to move or have some major life changes in the future. When you have important issues like job relocation, you are allowed to break the leas.
There are several options you can partake when you are facing a life changing situation and have to break the list. You can choose to sublet the place as long as the property manager and landlord allow this in their rental property. If not, you can ask the landlord to help you get a home under their property management in the location where you are headed to.