The pros and cons of renting an apartment
When it comes to moving out then there is one question which inevitably comes up: should I rent or should I buy? Therefore in this article we will take a look at the pros and cons of buying vs, renting an apartment.
The advantages of renting
If you don’t own a place this means lesser responsibilities as well, however you should never abuse this and turn it to your advantage because that may result in several difficult situations.
Great for temporary stay: if you know that you are only staying at a place / city or country for a specific amount of time then renting is definitely a go-for decision without question. The same goes for moving away for a contracted work or studying in a different city or country.
It’s way less money to rent a place than to buy a place. As a buyer you will be committed with lots of responsibilities, therefore if you really sure or you simply don’t have the financial means of buying a property, then it’s wiser to rent a place.
You can save even more with joint-renting:
There are lots of people who decide on joint renting a place. This means that 2-3 or even more people stay at a house, jointly paying all the monthly and communal costs. This way it’s only a fragment of the whole sum you have to pay and you can save tons of money too. This is the best way to go for those who are just moving to a new city or new country and have no money to rent out a whole apartment.
The disadvantages of renting
Your possibilities are limited:
Let’s be honest: you cannot really work with what’s not yours. There are only limited ways of renovating or sometimes even refurnishing a rented home. There are tenants who also put a limit on keeping pets, having friends around or having someone living with you. You need to watch out for these clauses and discuss this, before signing a rental contract.
Your tenant’s eyes will be on you:
This is also a question of luck. There are stressed out tenants who will always want to check if their apartment they rent for your you is in order , well-kept and well taken care of and will create problems when it’s not the case.
You may be moved out anytime:
When it comes to rentals going up in price nothing is guaranteed. Your tenant may decide to double the sum of rent or simply rent the place out for someone else, which leads to you having to find a place within a short amount of time.
You cannot call a rented place your home in real. And eventually everyone needs their own home. I hope that this list helps you see the main pros and cons of renting a place. Of course, sometimes there is just no way for you to decide to rent or not: but other times it’s worth thinking about investing in your own place, which can be rented out to others later on.