In line with
investing in properties, I’ve always known that renting will be a better option
for individuals, or even families, in bigger cities because of the employment
opportunities and amenities that it offers. Having a house in a remote area is
manageable, but with the hectic city lifestyle, having the management of a
condominium unit handle all the necessary things for the tenants is an
advantage among other things.
1.
Makes
it Easier to Move Around
If you think
you will only be staying for around 3-5 years in your job, then renting will
make it easier for you, or your family if you’re a family man, to move around
different cities. In my experience, some small families who had rented homes on
my end usually have a job of 3-5 years until they finally move out of the
properties. Some who stayed had stable jobs in this area.
2.
Maintenance
Costs
Taking care
of the electricity, gas and water bills is better rather than maintaining the
property by yourself. Some of my tenants tell me that it would take 1% of their total property value should they buy a house to make repairs and improvements
in their home. With landlord (like me) handling all the expenses, it makes it
easier for them to make a precise budget, despite the rental fees.
3.
Property
Values Rise and Fall
Let’s admit
it; the current market’s policies are skyrocketing prices everywhere. My
property had been appraised several times because of the increase, but who can
say its value will still be the same in the next few years? What if you
purchased a house now, and then decided to move away later during a time the
property prices are low? You wouldn’t even get half the investment you made should
you sell it just a few months after you owned the property.
