Thanks to the 21st century, we can finally end this old-age debate revolving around the complexity of two extremely conflicting ideas of ‘Renting’ and ‘Buying’.
To be honest, the idea of buying, in this time and age specifically, is synonymous with nothing but investment in something that demands a lot of sweat, hard work and dedication. And, a lot of us (particularly millennials) are not ready for draining out a handsome sum of money into this everlasting relationship that too, when it is not going to fetch them anything worthy in the latter part of their lives.
A full stop on freedom, flexibility, and the culmination of the so-called settled life — are just a few pieces of baggage that one might have to carry as soon as s/he makes this mettlesome decision of picking renting over buying.
To shape this argument in a better way, below pointers will give you an insight into why renting is far less cumbersome and pretty much feasible as well-
1. Ownership is not your headache
If there is something that can make you pull out your hair, then it is nothing but that dagger of possession hanging on top of your head 24×7. Be it investing quality money in fulfilling the materialistic desire or later on, yet again shelling out money in its maintenance — everything is a hassle at the end of the day.
2. Choice basket
If you choose to rent over buying, you will be handed a basket of choices which will give you the leverage of picking a feasible alternative, owning it for a short period of time plus, it won’t make holes in your pocket too!
3. Hello, freedom!
Well, the thumb rule says that, in order to buy a home of your choice, you need to save a bounty every month. And, this doesn’t even end here. Later on, you will have to make an account of things like maintenance, repairs and what not! And, once you decide to get rid of it, yet again you will have to blow some cash on the monthly mortgage payment, initial closing cost as well as the cost associated with the selling process.
Renting, on the other hand, gives you a break from all the above dilemmas and saves you from all this trouble.
4. No Profit, No Loss
One cannot disagree with the fact that possession of anything material is an investment. But what a lot of us forget while falling into this trap is that this investment’s value is not appreciating over time. For instance, if one buys a home, then factors like crime, traffic, unemployment, or a surplus of homes can cause it to depreciate in value. Renters too, have 99 problems but depreciating investment ain’t one!
5. Don’t settle!
Renting gives you an upper hand over everything primarily because you are not bound by anything whatsoever. You can relocate and follow your path, you can shift places and get into the job of your choice or simply, just get rid of the hassles of buying! It just works out, anyhow.
The umpteen number of successful startups in renting business is a live example of how this philosophy seems to be spreading like a wildfire now. Take, for example, Zolo Stays, which allows millennials to rent premium accommodations at affordable prices or even Wheelstreet, where one can easily rent bikes.
There is no surprise that the benefits of renting are plentiful. But irrespective of it, the choice to follow the trend or not is definitely yours!
Author: Nikita Arora
Featured Image Source: Apartment.com