Owning a home has become more challenging over the years. From finding a mortgage lender to closing fees. Home maintenance to property taxes. It can seem like the cons outweigh the positives.
At the gorgeous luxury apartments of Villa Regale in North McAllen, we know the benefits of renting an apartment versus owning a home and it boils down to this:
Renting is just better for millennials.
Renting is Better!
Spoiler alert!
In a 2016 survey, 79% of millennial participants said that they would like to own a home but simply could not afford one. Not only can this put a major obstacle in your way to owning a home but there are a number of other reasons that renting may just be the best living option for you:
Owning A Home Comes With Additional Costs And Responsibilities
When you own a home you are responsible for all maintenance and every single repair. Pipe leaking? Yard needs trimming? Toilet clogged? Garbage disposal jammed?
Repairing and upkeep take a lot of time and money. When you add this to all your other bills and mortgage fees, costs begin to add up.
This isn’t a problem for renters. Landlords will generally hire a handyman to come out and fix the problem. No money out of your pocket as this is usually covered in your lease agreement.
Most Millennials Are Still In College Or Fresh Out
If you are still attending college, paying a mortgage should be placed on the back burner when it comes to paying tuition. That’s if it is even possible to get approved for a mortgage to begin with.
Want To Live In A Big City? Renting May Be Your Best Option.
If you are looking to own a house in a big city, it’s going to be tough.
Cheap and affordable housing in the nation’s largest metro areas doesn’t come cheap. But that doesn’t mean it’s impossible.
Renting can offer you affordable costs in some of the more livelier areas of the city of your choosing.
And if you decide where you’re at really isn’t for you, you can always move.
You Can Live Anywhere You Choose When Renting
Let’s say one day you decide you wanted to move across town - or dare we say - even across the nation. If you’re renting, and your lease is up, making the decision to move to a new part of town or a completely new scene doesn’t come with the same issues as moving from a home you own.
At this point, all you really have to worry about is getting your belongings from point A to B and the expected moving and rental fees. When the move is done, that’s it.
Moving is much, much, more difficult if you are a homeowner. You have to list your home for sale which can take years to sell. You have to make sure your mortgage holder gets their cut.
If you need to move while owning a home, you are still responsible for the mortgage. That’s mortgage and rent you have to pay.
You don’t have to worry about any of these issues with renting.
Renting Is Full Of Other Bonuses That May Not Come With Owning A Home
More than just a place to lay your head at night, many apartments come with some amazing amenities.
As a homeowner, you’d have to pay a lot of cash to get a property with a pool in it. And monthly gym memberships aren’t cheap.
That’s not even including all the beautiful and wonderful amenities that are inside the apartments.
Many rental apartments include a personal washer and dryer. This saves the renter money from buying brand new units. Even repairs on appliances are traditionally included in rent fees.
All in all, renting includes a lot of benefits and amenities at little cost.
Come See What the Villa Regale Experience is all About
Are you a millennial or someone looking to rent and want to experience the benefits first hand?
