Why You Should Be A Renter

Helping residents in Lathrup Village, Southfield, Beverly Hills, Birmingham, and other metro Detroit areas in Michigan to understand the benefits of being a renter instead of being a homeowner

 

 

 

 

 

 

 

 

Are you a renter looking for a home? Call the Calhoun Team Realty today (248) 905-1402 and we can find a quality home for you!

Some people today have a hard time deciding whether they should rent a house or a buy a home. Today the Calhoun Team Realty is going to discuss the benefits of why you should be a renter instead of being a homeowner.

Don’t Worry about Maintenance Fees or Repair Costs

Yes, if you are a renter you don’t have to worry about maintenance fees or repair costs. For that’s the homeowner or the property management responsibility.

The Amenities Bonus

Renters can access the fitness center, the inside or outside pool and other amenities, but as for homeowners, they have to pay big bucks to use them or pay fees to maintain them.

0$ On Real Estate Taxes

Another huge benefit for renters is that they don’t have to pay real estate taxes. Real estate taxes can be overwhelming for homeowners – the bigger the home, the bigger the taxes will become.

The Down Payment

No need to save up for a big down payment for renters. They may modify the payment due to different circumstances, but a comparison on payments between renters or homeowners are huge!

The Economy Bullet

Today’s economy can be a nightmare for buyers because their mortgage can be very costly; heck their mortgage can cost more than their actual house itself but renters aren’t affected by that.

Unstable Property Value

One other thing that homeowners can have anxiety about is their property value. The value can go up or dramatically drop, but either way renters are not affected by it.

It’s Much Easier to Simplify

After their lease, renters can easily downsize or simplify their life by moving out and go to a reasonable place to live, but it’s difficult for homeowners to do that because of the process of selling their home and the fees that come with it.

The Rent is Fixed

On the agreement with the renter and the homeowner is the stipulation that the rent stays fixed. If the homeowner wants to change the amount of rent, he/she has to give the renters notice before doing so. Renters can decide from there whether they want to stay or leave.

Insurance Costs

While the homeowners are required to have a homeowner’s insurance policy, renters have the option to have a renter’s insurance policy. We recommend renters to have the renter’s insurance policy because it’s much cheaper and it can cover a lot of things.

The Utility Bills

Remember when I mentioned the bigger the house the bigger the taxes will become? That goes for your utilities bills as well. Think about it. Utilities bills are much lower in a small apartment then opposed to a large house.

To conclude, we as a Property Management see the benefits of renting a home or condo. We are more than happy to assist renters find a good home for a reasonable price. Call the Calhoun Team Realty (248) 905-1402 today for assistance on any of your real estate needs!

 

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