According to RentCafé, renters now make up 34 percent of America’s general population. That’s over 100 million people living in homes, apartments, and other properties around the country. And that number continues to rise.
More households are renting today than any time in the last 50 years, which goes to show people are seeing the positives of renting. If you choose to rent instead of buy, you can enjoy benefits that include lower costs, less maintenance, and more flexibility to move. Here are just some of the positives of renting you might find.
Leave the Repairs to Someone Else
When the neighbor across the street decides to practice his golf swing in the front yard, your window can pay the price. But you won’t, if you are a renter. Routine maintenance, finicky appliances, and upkeep of the property are some of the pitfalls of homeownership. Luckily, renters can leave those pains in the neck up to somebody else. At The Evergreens Apartments, our staff are trained and certified to make repairs, and they’ll have your back when you need assistance.
Move on Your Timetable
One of the greatest benefits of renting is the freedom it gives you to live wherever you want. Unlike a mortgage, which can tie you down for some 30-odd years, a lease is relatively short. “Regardless of age, mobility is one of the top reasons people decide to rent,” writes Robert Pinnegar at The Washington Post. “For millennials just entering the workforce or in the process of building their careers, the ability to relocate is a major factor. Even if they are in a financial position to purchase a home, millennials may choose to rent to have the flexibility to take advantage of new job opportunities as they arise.”
At The Evergreens Apartments, we support our residents even if life circumstances take them to a new home. If you move from The Evergreens Apartments to another AMC property or vice versa, we’ll give you $250 as a loyalty bonus.
Spend Less Over Time
Homeowners can encounter some unexpected costs that renters might avoid. While you can plan for the fixed cost of a monthly mortgage or rent, owning a home brings in extra expenses like property taxes, homeowners insurance, and upkeep. Homeowners insurance is typically much more expensive than renters insurance, coming in at an average of about $1,200 a year instead of $180.
Initial costs to owning a home are also more expensive, with buyers needing up to 20 percent of the purchase price for a down payment. For renters, though, a security deposit is generally equal to a month’s rent, which may be easier to save for. Given these differences, it’s no surprise that 82 percent of renters said renting is more affordable than owning in 2019.
Come home to The Evergreens Apartments and experience the positives of renting firsthand. You’ll agree that saving money, enjoying an adaptable living situation, and skipping the home maintenance are great reasons to rent instead of buy.