So, you’re thinking about renting a home instead of buying one, and you’re asking yourself where to look for houses for rent online. Well, you’re in very good company. In 2013, according to Census ACS data, 36.5% of households in the U.S. were renters. These days, families are moving a lot more often than ever before. When you stop and do the numbers, they don’t always add up in favor of buying a house. Finding a home for rent or a place you can rent to own can very often save you a very nice amount of change, not to mention the hassle that comes with home ownership. Give the idea of rental homes another shot. Here are three good reasons why you should.
Firstly, while owning a home may seem like the best idea at first, consider that homeowners spend between 1 to 4% of a home’s value annually on home repairs and maintenance; that can add up to hundreds of dollars per month and thousands annually. When you rent, those unexpected costs don’t come out of your pocket. Those responsibilities belong to the owner.
Secondly, the monthly payments can sometimes be better when you rent. In 2013, the median rental price in the U.S. was $905. When you own a house, you have to add up the mortgage, the insurance and the taxes into the monthly payment. That doesn’t even include the “uh oh” costs I mentioned earlier. In 2012, renting was less expensive than owning in most major cities if you wanted to stay in one home for less than 10 years. If you shop around, you can very likely find a rental property to fit your budget in your neighborhood.
Finally, if you need to move quickly due to a job or other unforeseen circumstances, it’s a great deal easier to get out of a lease than it is to sell a house. Even if you rent to own, all you have to do is abide by the terms of your agreement. The owner of the house can decide what to do with it from there. You simply decide where to look for houses for rent online and pack you things. Depending on the market, selling a home can take anywhere between 30 days to nine months or more. Who needs that kind of hassle?
While there are many advantages if you want to buy a home of your own, if it’s not the right time for you, don’t sweat it. Renting is a very viable option in today’s economy. Look around for a single-family home. It’s less trouble for you financially, you don’t have to worry about the cost of upkeep, and, if you look in the right places, it’s very probable that it’s cheaper. When considering where to look for houses for rent online, decide first where you want to live. A short search will point you in the direction of more available properties than you might think.