Even though renting can sometimes be quite difficult and is perceived by most people as stressful and a poor investment, it has its benefits that should be taken into consideration if you are not decided yet whether to rent or to buy. Rental apartments may be a temporary solution, but you should enjoy the benefits of this solution as much as you can if you are currently a renter or you will soon be. Here is why you should rent first before you buy!
One of the major benefits of renting is that you are not taking such a big commitment and, therefore, you are not responsible for everything! This is a major benefit for young people or for young families who are just starting out and are not used to taking on plenty of responsibilities. There are no repair bills or maintenance costs for renters, which is a huge deal, especially if you are not ready to take on that much responsibility yet. For the majority of apartments for rent San Antonio, the owner is responsible for any reparations that may appear or for the maintenance costs. Therefore, sit back and enjoy being a renter!
Another big deal for renters is that they have access to the amenities offered by the owner that they wouldn’t afford. Some tenants are so lucky that they have access to luxuries like a fitness center or an “in-ground pool”. Tenants who live in apartment complexes won’t pay any additional charges for these great amenities, but the homeowner is responsible for them. Therefore, this time, it’s better to be a tenant!
If you are a renter, the greatest thing is that you don’t have to pay any real estate taxes. There are no major obligations for those living in rented apartments in San Antonio, but owners are obligated to pay real estate taxes, and these taxes are not the most affordable ones. Another great advantage of being a renter is the fact that you don’t have to make a big payment from the start. When you rent an apartment, all you need is a deposit and the rent for one month, but when you want to buy a property, you need to have some money saved for the down payment.
Another benefit of being a tenant is that you have to pay a fixed amount of money every month, which means you can create your budget efficiently and even end up saving some money. Plus, as a renter, you have low insurance costs, compared to owners. However, the insurance cost is not obligatory for renters, while homeowner insurance is much recommended. Renters should have an insurance cost anyway because it covers a lot of things and it’s not even that expensive: only around $15 a month!
Therefore, being a renter is not the end of the world, you also have benefits you can enjoy. Plus, it’s recommended to be a renter first, especially if you are young.