Rentals

Here’s Why You Should Be Thrilled You Are A Renter

Are you a renter? Well, you should be happy! The perks of being a renter means less worry and more happy!

Below are 10 reasons you should be happy you are a renter:

1. No worries about yardwork. If you rent, your yard might be a maintenance-free patio or, if there is a grassy yard, the landscaping might be maintained by the landlord. If you have a green thumb, of course you can make the most of your space with a potted garden or raised veggie beds — but the choice is yours.

2. Live in a more walkable area. When buying a home in a densely populated urban area is financially challenging, renting in the same area can sometimes be within reach. Renting can let you take advantage of the conveniences and rich culture of city life.

3. Get repaid for home improvements. While some landlords are quite strict about making any changes to the space, others are open to positive changes that will appeal to other renters in the future, such as refinished floors, fresh neutral paint and new light fixtures or faucets, and might even reimburse you for materials and labor. You won’t know unless you ask … just make sure you do ask before making a change, or you could lose your deposit when you move out!

4. Enjoy more free time. Along with owning a home comes the responsibility for home maintenance — and all of that lawn mowing, gutter cleaning, deck staining and painting takes time. Renting means you can devote more time to doing the things you really love to do.

5. Excuse yourself from costly updates. When you own a home, pouring money into remodeling projects is tempting, even though you are not likely to recoup that money when you sell. As a renter, there is freedom in knowing you can’t remodel even if you wanted to — and the unspent money can become savings for retirement, travel or a special piece of furniture that you can take along if you move.

6. Upsize more easily when your family grows. Buying a small starter home may seem like a good idea … until a child (or two or more) comes along, and you realize you really need more space. If you rent, moving to a bigger place is a relatively simple endeavor. If you own your home and want to sell your old house and buy a new one at the same time, things get more complicated (and more expensive), especially if you end up carrying two mortgages at once.

7. Invest on your own terms. Whether you would like to start a business or invest more in your retirement accounts, choosing to not buy a home opens up other possibilities for saving and investing. Buying a home can be a smart investment, but it’s not the only option.

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