When you’re looking for your next home, should you rent or buy? Moving into a Tucson rental home rather than buying a home offers some crucial advantages. Keep the following in mind about the benefits of having a rental home.
Fewer Maintenance Worries
When you rent a home, you don’t have to worry about needing to handle repairs and maintenance. If you have a leaky faucet or an electrical problem, for example, you have to let your landlord know. Your landlord should arrange to have maintenance and repairs done as needed to keep your rental home in good condition. This also helps you save money since you usually aren’t responsible for covering the cost of repairs or maintenance unless damage was your fault.
Fewer Expenses
In addition to saving money on repair and maintenance costs, renting helps you save in other ways. Some rental homes cover the cost of certain utilities, such as cable or gas. This means your rent includes these utilities, so you won’t have to pay them on your own. Owning a home means you are responsible for the cost of all utilities, which can add up. When you rent a home, you also don’t have to worry about other expenses, such as HOA fees or property taxes. As a homeowner, these expenses are all part of owning a home.
Lower Monthly Housing Cost
Does it cost less to rent a home compared to buying one and making a mortgage payment each month? While market prices can vary, rental homes in the Tucson area are typically slightly less overall than the cost of a mortgage. When you combine this with the lower expenses, you might be financially better off renting instead of buying.
No Worries About Market Value
When you rent rather than buy a home, you don’t have to keep an eye on market values. Owning a home involves making sure its value doesn’t decrease over time. This might mean making upgrades or remodeling from time to time in order to boost your home’s value. When you rent, the market value of the home you’re in isn’t something to be concerned about since you won’t be the one selling it.
Easy to Move
If your circumstances change, you can easily look for other homes to rent if you need to move. For example, you might end up needing to look for a bigger home or needing to move for a new job. When you rent your home, moving to a new one is much easier to do. You have to let your landlord know that you won’t be renewing your lease. When you own a home, you can’t just pack up and move. You have to go through the whole process of selling your home and buying a new one.
Contact Us for Tucson Rental Homes
If you’re looking for homes for rent in the Tucson area, please contact Bancroft & Associates. We have several rental homes available to choose from.
Sources
https://www.investopedia.com/financial-edge/1112/reasons-renting-is-better-than-buying.aspx
