Renting a home is one of the first options that a person has when it comes to becoming independent. But, will it be the best option for your personal finances? Discover it here, as Shalom Drizin, the owner of Ebbets Field Apartments, home to 1300 residents, shares some of his views on this topic.
The time has come to become independent, but you are not sure if you want to buy a home or rent it. This last option is usually the first step for those who have not yet decided and a parameter of the economic expenses that could be incurred later.
But is renting a good cheap option? What are the advantages and disadvantages of renting an apartment or a house? Here are some of the experiences of Ebbets Field Apartments residents.
Advantages:
1. Paperwork and procedures are minimal. To rent an apartment or a house, you just have to sign a rental agreement for at least six extendable months. Some landlords ask to fill out an application and present proof of salary and work time at a company.
2. You don't need a lot of savings. Most tenants are only asked for a deposit equal to the agreed monthly payment. So, for example, if the rent will be $ 300, the deposit will be the same, so only $ 600 will be needed to make a rental.
3. If you make a mistake, it is easier to change. If after a few months the house or apartment you rented doesn’t feel like a fit, you have problems in the area or there is another difficulty, it is easier to move to another.
4. Better area for less cost. Rentals are often offered at a relatively lower price than a house fee, so you can access a much more privileged living area for a lower cost.
5. You don't spend on maintenance. When renting you do not have to worry about the house repairs because those costs are borne by the tenant. When signing the contract it should only be clear if you will have to pay for services such as water, electricity or internet on your own or if they are included in the rental price. For example, at Ebbets Field Apartments utilities are included in rent, plus the residents have at their disposal high standards of service, with the help of our 24 hour security, onsite maintenance and porter staff.
6. You have no debts or bank mortgages. If you want to run away from debt, renting is a good option because you save yourself the pressure of paying a mortgage and not having money to do it every month.
