Why is renting better than buying?

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When it comes to living space or office space, there are various advantages and disadvantages for either buying them or renting them.  For people who are in a financial crisis or those who simply don’t have the money upfront to buy some property or space, renting is the best option.  On the positive side, renting only costs a fraction of the money that is supposed to buy a certain property.  Whether this property is intended to be a living space, a commercial space, or an office space, huge amounts are usually required to buy it.  For those on a limited budget for example, renting a property is the best option.  In the case of renting, minimal upfront payment may be required and other financial resources may be used for other important purposes.

Renting a property also makes it hassle-free for people in terms of management.  For homeowners and owned office buildings for example, people need to manage the building or space themselves.  Whenever there are concerns regarding maintenance and utilities, those who buy their properties need to manage it themselves.  In the case of renting, many maintenance issues are shouldered by building owners or landlords.  Some utilities are also included in the package and so renters need not worry about various bills every single month.

There is also more flexibility with renting compared to buying space or property.  When people want to move to another location for example, they may do so immediately if they are only renting their space.  Moving to a different location or space may not be an option for home or office owners.  It may be too expensive to relocate to another home or office when there is already an existing house or space to use.  For renters, they can basically transfer from one place to another for as often as they wish.  If they wish to find a bigger or smaller place depending on their budget, renting gives them more flexibility to do so.

Author: erwin

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