2014 is upon us, and with it comes numerous lease openings in the Boston area. While people may find many reasons not to rent, but in today's day and age renting is something that should considered for the New Year. Below the Newbury Rentals team has come up with some reasons to consider rentals on January 1st.
More financially safe than owning a home
The economy has greatly influenced the housing market, and now is a better time than ever to rent. One of the largest costs avoided when renting is the mortgage. Not only is the cost of a mortgage avoided, but also the stress of large payments or having to remortgage. Other big costs avoided are property taxes, Homeowners Associate fees (doesn't apply to all), and homeowners insurance.
In addition, when renting you avoid the responsibilities of buying or selling a home. Another upside to renting is that it allows for people to save up money, pay off loans, and spend money elsewhere. In some cases renters today are renting more than one home allowing for them to have a vacation spot.
Access to urban conveniences
The majority of rentals are found in urban areas, which usually means everything is in a mile. Many necessities are within walking distances in urban areas. Not only are there numerous stores within a close proximity, but also many stores in cities cannot be found in suburban areas.
Some rentals have luxuries
Many luxury buildings and apartment complexes offer a pool, gym, and other amenities. It can come in handy especially in the cold winter months when any imaginable luxury is accessible right in your own building.
There is far less upkeep involved when renting. Someone else does all the repairs when renting, a landlord or someone they hire will take care of repairs and replacements. When something breaks and it's in the contract that the landlord will fix it, then they are required to do so.
When more than one tenant are living under the same roof, rentals themselves become great places for a social life. Rentals in urban areas are also close to some of the best nightlife spots, including bars, clubs, and restaurants.