When I decided that I was going to put my house on the market, I knew that I would have to do some renovating first. The house was a good, solid structure, but I hadn’t kept up the outside of it as well as my husband did before he passed away. I knew that I would need curb appeal if I wanted the place to sell quickly. I had my yard landscaped, my home exterior repainted, and my driveway replaced before putting the home on the market. It cost me a bit of money, but it was worth it – the house sold quickly and I was able to move into my brand new condo – much less maintenance work for me. I started this blog about curb appeal, to help others learn how to move their homes quickly too.
The decision to buy or rent a house hinges on many factors. However, there are some situations in which it is best to rent a house rather than buy one. For example, you may be better off with the rental option if you:
Move a Lot
If you move a lot, then it pays to rent a home that to buy one because you don't have to worry about your disposing of your home every time you wish to relocate. You may think that all you have to do is put up your house for sale, but things aren't that simple in the real world.
The process of selling a house is not easy. You have to choose a good realtor, adhere to local rules and regulations, value your home, and decide which offers to reject and which one to accept. In most cases, you can make more money if you wait for the best time based on market conditions to sell your home.
As a renter, none of these things will plague you when you wish to move. All you have to do is to wait for the lease to expire and move out according to your agreement.
Love Living in Trendy Places
Are you one of those people who are always looking to live in the trendiest place in the city? If you are, then the economics may favour renting as opposed to buying a home. As you know, buying a home in a trendy locale can be very expensive.
For example, the average prices of homes in Vancouver, one of the most expensive cities in the country (as far as housing is concerned), was $801,000 for the year 2014. Many average Canadians would not be able to afford such houses. However, if you go with the rental option, then you can afford to live in these houses for about $1,450 (one bedroom apartments) to $2,191 (three bedroom apartments) per month if you choose the rental option.
Worry About the Property Market
People face different worries in their day to day life. If you are one of those who constantly worry about the property market, then it might not be a good idea to buy a house. If you do, then you may spend your days worrying about whether the market will crash. Apart from market crashes, you may also be worrying about things that may drive down property prices in your neighbourhood.
However, you will live in peace if you rent a home. You just need to continue paying your rent (as usual) even if the market has taken a beating. Of course, the landlord may raise his or her rent if prices shoot, but you don't necessarily lose money because you can always look for other available apartments for rent.
If you have decided to rent a house, don't forget to go over the lease agreement carefully to understand which part you have to play to keep the lease active. Your real estate agent may help you to understand any confusing clauses in the agreement.Share
26 February 2015