The Top 3 Reasons Why You Should Rent Rather Than Buy
It?s everyone?s dream to live in the best luxury apartment possible, especially when living in a big city like Philadelphia. However, it can be harder to find beautiful apartment buildings with units to buy than you would think ? and in fact, it?s often ill-advised to jump right into buying. A great city apartment may be right underneath your nose, overlooked simply because too many people place a greater value on buying than renting. You can find an apartment for rent far easier than you can find one to buy, and often, it?s a better apartment. So: before jumping to buy, you may want to know why renting could be the right choice for you.
1. Renting Saves Money
One thing all beautiful apartment buildings have in common is that they tend to require a lot of money. Did you know that renters save an average of $560 a month? Another great thing about renting is that, unlike buying, it doesn?t run the risk of investment in a depreciating asset. While a $100 investment in a house in 1985 offers a return of $293 today, the same investment in stocks would be worth $1,146, or almost four times as much. The fact is that renting an apartment often means that you can afford a better quality residence. Furthermore, they often include water and heat, cutting down on costs even more.
2. Renting Means Less Stress
In cities like Philadelphia, units for rent in beautiful apartment buildings are often offered by professional management companies. Lofts and apartments are fantastic to live in, but can require a good amount of maintenance, especially when they?re luxurious city loft apartments. Part-time landlords can take hours or even days to fix problems. A professional management company, on the other hand, offers 24/7 on-site maintenance. A much higher level of service is provided by professional management companies, including first-class amenities and high standards of customer care. Even lawn maintenance can be taken care of by a professional management company, meaning that you have more time to relax and enjoy your home.
3. You Can Do Better Things With Your Money
As previously mentioned, renting can save a lot of money and time. It?s important to consider what you can do with the money you save through renting ? and that includes making more money out of it. When buying the best luxury apartments, you can expect to spend astronomical amounts of money on a down payment alone. Right now, the money you invest in real estate won?t provide a very good return. By taking the down payment you would have spent on a house and investing it in better opportunities, you can end up with more money than you started with. Money that, should you be ready to buy someday in the distant future, can go towards the house or apartment you really want. For now, you can relax and enjoy the beautiful apartment you?re renting ? and know you?ve made a wise decision.