While we all know that owning a house is everyone’s dream, it may be fulfilled or unfulfilled for the entire lifetime. To have a house in one’s own name is a huge aspiration and an investment larger than life.
How many young people, who start their careers, keep struggling hard to have a building of bricks where they live and call it an asset. People who live in rented houses are considered to be throwing money away. But how true is that?
What is a better bet? Owning a house or living in a rented apartment? How profitable it is to invest all that money if you have valid reasons not to? Why isn’t renting a good option?
Well, we give you 5 simple reasons that renting a house is better than buying.
- You Get Better Amenities In Lesser Money
The last time I checked, to buy a good place equipped with all the basic or luxury amenities would cost a bomb. Whereas, if you are a comfort seeker, you can rent the same kind of place by paying lesser money. There is no need to make a huge investment. Moreover, the maintenance headache is not that of tenants. There’s a sense of freedom that comes with renting, while homeownership comes with a tremendous amount of responsibility.
- Properties Are Illiquid Assets, with No Guaranteed Profit
If you buy a house with investment point of view, there is are lesser chances you make good money in short duration. You may have to wait for years before you get good pricing. You can’t predict market volatility. Homes aren’t an investment you can ever be certain about, there’s always an element of gambling. And you don’t have 20 years to wait around till you get your hard-earned money back. Renting a house for self and investing the same money in a market where you can get faster returns is a better bet.
- You Have The Liberty to be Mobile As Life Demands
It is proven fact that younger people value happiness in their jobs more than they value job security, so they’re not afraid to pick up and move to somewhere they see better prospects. If you own the house, it can take several months, sometimes years , to sell a home. Why would you want to tie yourself to an expensive investment that prevents you from taking advantage of the better opportunities that come your way? Renting is the choice if you are person who is career oriented.
- Renting Is Not Throwing Money Away
Renters aren’t throwing money away every month, that is a small amount they are paying, and that too is considered as cost of living. Buyers might be throwing more money. If you buy a home that’s a bigger mistake than you ever could on renting. If you own a home, you can’t say that you are going to sell your house tomorrow, you may have to sit on the pile of held money for ages. But if you rent, you may have the option of going on a month-to-month lease and leaving whenever you like.
- You Have a Ready-Made Sense of Connecting With People
When you are habitual of living in rented houses, you are in a flow of connecting with different people and that too with ease. This gives you an edge over others, and makes you a more approachable person, unlike others who are rigid in their approach. This positive trait of connecting instantly will undeniably give you a lot of benefits in many other aspects in life, be it professional or personal.
These are the benefits which you will enjoy if you choose to rent the house rather than buying one for yourself. And we are sure these are huge benefits which cannot be overlooked in any case.