For people who rent property, it’s not uncommon for them to be subject to comments – not all of which are positive. Speaking from personal experience, I’ve had family members tell me that it’s time to grow up, settle down, and invest in a home of my own. I appreciate the concern, but what many people don’t realise is that renting isn’t for everyone – and nor is it a dirty word either.
In this article, we’re going to look at the ways in which renting property can actually enrich your life – contrary to popular belief. Here’s everything you need to know…
Freedom to from obligation
As Jay-Z once famously said: “Mo Money, Mo Problems.” Of course, being rich certainly doesn’t sound like it sucks, but there’s something to be said about being free of assets and debts. Owning a property isn’t the be all and end all – at least not necessarily at this exact time in your life.
When you own a property, it is your responsibility. You can’t exactly up and leave without having someone to take care of it. Which means you have to be a landlord – which comes with a host of other responsibilities as well; i.e., when something in your property fails, it is your responsibility to get it fixed. This level of obligation grows with each property you acquire which can be taxing for some people.
Renting can also open you up to more work opportunities. Take teachers as an example: buying means that they will likely have to stay put, which can make their life feel stagnant. However, teachers who rent and want a taste of adventure can travel the world, while moving from one rental property to another, gathering practical experience with all sorts of children in a variety of schools – which can be great for their professional development if and when they do decide it’s time to settle somewhere.
The ability to live in areas you may otherwise be unable to afford
Just because you can’t afford to buy a house in a certain area, it doesn’t mean you can’t rent there. Often, renting can allow you access to some luxury properties. Certainly, it isn’t always cheap, but for a temporary solution it can be attractive to some.
Similarly, depending on where you live, you can enjoy a wealth of amazing local amenities. For example: if you were to live in London, you might have to live a bit further out from the city centre in order to afford it. However, somewhere like Thailand can have you living 100m away from a tropical beach, for less. When you rent, you have that kind of freedom to choose!
Enjoy a variety of attractive facilities
Similar to living in nicer areas, renting property can provide you with access to some amazing facilities. Take living in a condo in Bangkok for example: most quality condo developments such as Life Sathorn Sierra have swimming pools and fitness studios (to name a few). Do you think you would be able to have a gym and swimming pool when buying your first home? Perhaps not. However, when renting, you can enjoy such facilities without the hefty price tag and responsibility that goes with it.
