- Personal Finance
Benefits of Renting
Most of the time when people challenge the old traditional thinking’s they are regarded as foolish. However in my opinion the old conventional thinking was only limited to the people in olden days or I can say that it was only good for them i.e. (it was of their time) and now as according to the changing trends we must also change our thinking’s. We must think what is good for us .
“Renting” is one such topic where the new and the orthodox people have two different mindsets. Most people on earth believe that renting an apartment or home is not a good idea but buying one can rather be a great investment, but I have some good arguments which can prove that renting an apartment can be better than buying one. So, here I have summed up the benefits of renting:
Renting is paying for a service: Firstly understand that renting is not throwing your money but is equivalent to paying for a service (for a place to live) just as you pay your monthly bills you pay the house rent.
Renting keeps you flexible: If you are looking for a job then you are not bounded by the fact that how close is your new office to your flat. You can just find a good job first and then just move to an apartment in nearby locality without a big deal.
Renting keeps you away from the repairing job: In a rented apartment if something goes wrong you can directly call the apartment manager and he himself takes care of what is to be done. Thus saving you from a good workload of repairing.
Renting keeps you away from the property taxes: When someone has a property he has to pay the taxes like homeowners associations fees, property tax etc. But as a tenant you don’t have to think about the taxes. This saves your few thousands per year if you are a tenant.
Renting can saves the money you have to spend on furniture: As a tenant you choose the things you want and these days you can also get fully furnished apartments. This can save a hefty sum of money which you have to spend on the house furniture.
To add weight to this discussion of the benefits of renting I would like to one more point that Warren Buffet the second richest man on the earth himself lives as a tenant!!!
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