Many Australians always find themselves in a kind of dilemma when it comes to deciding whether or not they should rent a property or buy it outright. You are not alone in your thoughts and many people all across the country think about this exact same thing every single day. The one thing that definitely springs to mind first is that once you buy a property then you’re kind of stuck there until such times that you can sell the property to someone else.
What happens if you live beside the neighbour from hell and they are making life unbearable but you can’t move away and you can’t sell your property? This is a situation that several Australians find themselves in and many wish that they had rented instead of buying.
With that in mind, there are a number of rental properties in the Northern Beaches that would be perfect for moving into right now and you have the peace of mind knowing that if the area doesn’t suit your circumstances or you get a promotion and you want to move away then you can just give your notice to the landlord and move on. This is just one of the reasons why renting a property always makes a lot more sense than buying one and the following are just some others.
The Northern Beaches – Why Renting Is Better Than Buying
It Ends up Being Cheaper
Many homebuyers typically forget about the other costs that are associated with owning your own property. The property will not take care of itself and so you’re going to have to carry out regular maintenance or pay someone else to do it for you. Then there are the repairs and the property taxes that have to be paid no matter what. You will also be required to take out insurance from your mortgage company and then you have to pay the mortgage interest every single month without fail. If you fail to do so, then the bank or building society will take the property from you. No such issues exist when you rent your property.
You Get to Keep Your Flexibility
As was touched on briefly before, if life’s circumstances change then you can’t just up and leave if you own a property. Renting it on the other hand allows you a lot more freedom and much more mobility to just pack your bags and other things and move on to pastures. You don’t have to deal with the issue of trying to sell your property which could take months or even years before you get the price that you want. None of these issues exist again if you decide to rent when it comes to putting a roof over your head.
No Maintenance Costs or Repair Bills
Renters rejoice, for one of the most alluring perks of renting a home is the absence of maintenance costs or repair bills. When you rent a property in Northern Beaches, the burden of upkeep, improvements, and repairs falls squarely on the shoulders of the landlord. From a malfunctioning appliance to a leaky roof, it’s the landlord’s responsibility to address these issues promptly and efficiently, sparing tenants from financial headaches.
Shielded from Fluctuating Property Values
Property values are subject to fluctuation, a reality that can have profound implications for homeowners. However, renters are largely insulated from the vagaries of the housing market, as fluctuations in property values exert minimal impact on their financial well-being. This stability affords renters a sense of security and peace of mind amidst the ebbs and flows of the real estate landscape.
Reduced Utility Expenses
Renting often translates to lower utility expenses, thanks to the more compact and efficient floor plans commonly found in rental properties. Unlike sprawling houses with expansive square footage, rental apartments typically boast streamlined layouts that are more cost-effective to heat and power. As such, renters stand to benefit from significantly reduced utility bills, further bolstering the financial appeal of renting.
When you want to buy a property in Northern Beaches, they want a significant deposit before they will consider even giving you a mortgage. To rent your property, you only have to come up with the first and last month’s rent and a small deposit.
