The Benefit of Renting Rather Than Buying

A question that often comes up when relocating to a new city is “Should I Rent, or Should I Buy?”. The question we would like our incoming residents to think before making this important decision would be “What Am I Looking to Accomplish Here?”. Are you looking to be here temporarily or long-term? Are you looking for a specific area of Cedar Rapids or Marion? Do you prefer a downtown vibe or rather a quiet development on the outskirts?
In this situation, you may not know what your one-year, five-year, or even ten-year plan is, and we are here to tell you, that is ok. Our team has a positive solution while you take some time to formulate your ideal plan. Rental properties offer a short-term option that doesn’t lock you in long-term. Buying a home is a huge moment in your life, but also locks you in for the long-term. If you arrive in the area and start working with an organization but get transferred or even move on after a year, a purchased home places you in a jam. With rental terms such as month-to-month, this is no concern for renters.
Along with this, when arriving to a new city, you may have a very busy lifestyle. Work, networking, clubs, events, etc. can all consume your weekly routine. A significant item relevant to this would be that rentals handle maintenance. You are headed out of town for a few days, but your kitchen sink is leaking. What do you do? In a purchased home, it is on you to either fix the sink or pay someone else to do it. When renting, a simple maintenance request ensures this is handled in a timely fashion while also costing you, nothing. When renting, there is less necessary investment into your residence. Don’t worry about snow removal or lawncare when renting, this is taken care for most rental properties. Stay tuned for part II coming of this blog post coming in the very near future!

Photo Courtesy of www.realtor.com