Renting a home or property allows us to be more flexible by owning home. No long-term commitment is required in this case. This is considered best option when you like to stay here for long time. As a tenant, there is option for living in this area when we can afford to buy. If you want to know about advantages of renting a home then this post will be helpful to you. There’re different benefits of renting as compare to buying a property like a home.
When we talk about real estate property section then we think about different factors, buying vs renting a property. Every second person in Pakistan wants to invest in real-estate sector because it is save investment.
No Repairs bills, renovation or Maintenance Costs
A benefit for renter is that no repairing or maintenance cost is required as landlord is responsible to pay it. If you will rent a property then you will accept all financially responsibility except the above mentioned.
Access to Amenities
Another benefit for renting, buying a home is for accessing the amenities that will be expensive in other situation. Luxurious like fitness center or pool for up scaling the complexes without any extra payment, these options are available for tenants. If you want to match it then you should expect to pay huge amount for maintenance and installations costs. At the same way, owner should pay fee to pay access to amenities.
No Real Estate Taxes
Real estate taxes are hefty burden for owner and vary by counting. Property taxes issue can be completed, they should be determined for estimating value of house. With property taxes and getting larges home is important point of burden.
No need to pay big down payment
Another area when a renter should have better financial deal for signing. If buying a house with mortgage, you don’t need to pay any big down payment amount. It varies form case to case. For example, you can deposit 5% for home which is not big amount. It is paid in installment which is affordable especially for middle class family. You should involve market as renter.
Fixed Amount of rent
The most important benefit is fixed rent amount that
is paid by tenant. A landlord can take notice and can change on annual basis.
But you’ve to pay a fixed amount. You’ve to maintain or manage insurance cost
on low level