4 Things Every Renter Needs To Consider

By
Real Estate Broker/Owner with Charles Stallions Real Estate Services

4 Things Every Renter Needs To Consider

4 Things Every Renter Needs To Consider

As a renter, you’re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership every renter needs to consider.

Here are a few things you should think about before you settle on renting for another year.

1. Rents Are Rising Quickly

Rent increasing each year isn’t new. Looking back at Census data confirms rental prices have gone up consistently for decades (see graph below):4 Things Every Renter Needs To Consider | Keeping Current MattersIf you’re a renter, you’re faced with payments that continue to climb each year. Realtor.com recently shared the September Rental Report, and it shows price increases accelerating from August to September (see graph below):4 Things Every Renter Needs To Consider | Keeping Current MattersAs the graph shows, rents are still on the rise. It’s important to keep this in mind when the time comes for you to sign a new lease, as your monthly rental payment may increase substantially when you do.

2. Renters Miss Out on Equity Gains

One of the most significant advantages of buying a home is the wealth you build through equity. This year alone, homeowners gained a substantial amount of equity, which, in turn, grew their net worth. As a renter, you miss out on this wealth-building tool that can be used to fund your retirement, buy a bigger home, downsize, or even achieve personal goals like paying for an education or starting a new business.

3. Homeowners Can Customize to Their Heart’s Content

This is a big decision-making point if you want to be able to paint, renovate, and make home upgrades. In many cases, your property owner determines these selections and prefers you don’t alter them as a renter. As a homeowner, you have the freedom to decorate and personalize your home to truly make it your own.

4. Owning a Home May Provide Greater Mobility than You Think

You may choose to rent because you feel it provides greater flexibility if you need to move for any reason. While it’s true that selling a home may take more time than finding a new rental, it’s important to note how quickly houses are selling in today’s market. According to the National Association of Realtors (NAR), the average home is only on the market for 17 days. That means you may have more flexibility than you think if you need to relocate as a homeowner.

Bottom Line

For your NEXT Move Call or Text Charles Stallions NOW 850-476-4494 for a 5 Minute free over the phone evaluation or Email: charles@charlesstallions.com for a complete package to review at the stage you are in, no high-pressure sales pitch or obligations 

We are ambassadors to the Gulf Coast of Florida got a question just email us or text us. 

Hello, my name is Charles Stallions, CRS, Broker/ owner of Charles Stallions Real Estate Services. Our family of licensed agents can show you ANY home on the market and many that are Coming Soon and would love to show you around our local Gulf Coast Area, from Pensacola to Pace to Gulf Breeze we will be your ambassadors to the area.

We can help you relocate, find a job, a daycare, great places to eat shop, and play along the gulf coast. It all starts by clicking here. Put my 25 plus years to work in your best interest. Call, text 850-476-4494 or email us 

 

 

Comments (1)

Bill Salvatore - YVP Blog
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net

So important to fucus on #4.   Enjoy your Sunday, rest up and be ready to support your favorite NFL  Team today. A new week starts tomorrow.

Nov 28, 2021 05:18 AM