3 Reasons Why Renting Gives You Freedom
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by Nina Tambal
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Apr 08, 2023
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General
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Owning a property may be a goal for some Filipinos, but with the current state of our economy, it would be challenging to attempt in buying your own piece of real estate.
For a lot of us, renting is the more practical choice, especially for millennials and gen zs. Majority of both generations value flexibility and freedom more than anything.
Whether or not you are part of the demographic we have mentioned, we do want to showcase the advantages individuals have when they choose to rent their home.
So, read on to find out the three reasons why renting gives you the ultimate freedom.
1. Better budgeting
There is a big and common misconception when it comes to renting: that it costs way more than owning. This is because most people equate monthly amortization with monthly rent. We’re here to tell you that there’s more than just the monthly amortization to think about when owning.
When you own a property, not only do you have the huge chunk of down payment to shell out, but you also have the property taxes, maintenance costs, insurance, and more. On the other hand, when you rent, there is a security deposit that costs significantly lower than a down payment. Depending on how you make use of utilities, your bills can be budgeted accordingly.
And of course, minor maintenance costs are what renters usually worry about since they have the choice to move upon a certain period of time.
2. Access to amenities
How else would you be able to access amenities such as a pool and gym? These expenses are included in a renter’s monthly association dues (which, for many, are factored in their monthly rent).
Meanwhile, it would cost a homeowner a lot more to build an in-ground pool or indoor/outdoor gym of their own.
There is more freedom for the renter, because these amenities are perks that are already there. They are bonuses that enhance their living conditions.
There aren’t many properties that you can buy with such amenities at an affordable or reasonable cost.
3. Flexible living locations and conditions
As mentioned earlier, renters have the choice to move. If they don’t like the unit that they attempted to rent this one month, then they can just go somewhere else after. Onto the next.
The same applies to the area they reside in. Digital nomads, in particular, are free to go anywhere in the world, because they rent their homes.
Ultimately, the entire world is their home. The same ideology can be applied to all renters in general. You have the flexibility to live in all sorts of locations.
If that doesn’t define ultimate freedom, we don’t know what does.
Final thoughts
Convinced yet? Maybe you even have your own reasons that we haven’t mentioned as to why renting gives more freedom.Either way, the mindset of renters is ultimately keeping an open mind and an open heart. Keeping our options open, because we never really truly know what life can throw at us down the line.
The pandemic was a good example of that. Anything can happen and more often than not, we have to be able to roll with the punches.
Happy renting, everyone!
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