Renting a house or apartment often gets a bad rap.
Many people assume that if you have the means, buying is ALWAYS better. And don’t get us wrong – buying a house brings some great benefits. However, there are many, many situations where renting is a superior choice.
Let’s dive into just a few of the reasons to rent a house in Grand Rapids.
1. Flexibility
One of the major advantages of renting is flexibility. If you move into a house, and figure out that you hate the neighborhood, it’s easy to move on. If you get a job in another city, you can relocate for a more convenient commute. If you have a new baby or your daughter moves to college, you can upgrade or downgrade your apartment size as necessary.
While you should always honor your lease, it is simple to change your housing when you’re ready. Just finish out the contract terms, and find a new place!
When you a own a home, the process is much tougher. You may have to sell the house, or find renters to cover your payments. This can take weeks or months, and can be quite stressful.
2. Less Financial Risk
There’s no way around it: rent payments aren’t fun. It doesn’t feel good to hand a big chunk of your paycheck to your landlord every month.
However, since you aren’t the property owner, you have a lot less financial risk. If the water heater dies, you don’t have to pay for it. If the roof leaks and wrecks some drywall, the landlord is responsible (in most cases). If you find out that the place has a bad foundation, you can simply move out when the lease expires.
By renting a house in Grand Rapids, you avoid these big dollar costs. You don’t have to pay hundreds of dollars for new appliances, thousands of dollars for structural repairs, or a few bucks for the plumber to fix your sink.
This allows you to plan your finances with much more certainty. It’s much easier to stick to a budget when unexpected bills don’t hit your bank account.
3. Discover Your Home Base
Most of us are only vaguely familiar with our local towns and neighborhoods. Maybe you have a friend that lives in Grand Rapids, or you went to school in Kalamazoo a few years ago. While this might give you a general sense for an area, it’s risky to get a 30-year mortgage in a city you don’t know well.
There is no substitute for living in a neighborhood. You shop at the local grocery store, and eat at the pizza shop around the corner. You see the schools first hand. You understand how safe the streets are at night.
By renting a house or apartment, you get first-hand knowledge about the area. It will be pretty clear if this is a long-term landing spot or a short-term stop.
This is a big advantage when it’s time to rent your next place (or buy a home). If you love the neighborhood, you’ll know where to start your search. If you hate it, you can move on.
There are some great reasons to rent. You get increased freedom, less financial risk, and the opportunity to experience new areas. So move forward with confidence!