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Are you trying to decide whether to rent or buy property? If you’re not ready to settle down yet, renting property gives you the freedom to move when you want or need to. The flexibility of renting, as well as the decreased financial burden, are just some of the reasons why many people choose to become tenants rather than homeowners.

Your requirements and personal preferences are a major factor in your decision. Take a look at our blog post to find out the advantages of renting property.

1. Enjoy more flexibility

Renting may be the best option for you when flexibility is important to you and you could even find a place that offers a month-to-month rental so that you are free to move whenever you want. For more stability, consider signing a year-long leasing agreement.

If you’re thinking about buying property, this strategy also allows you to try out the neighbourhood to see if it’s the place that you want to live in for years to come. Renting also offers you financial flexibility.

If your financial situation changes, you can move to a more affordable property. This makes it possible to live within your budget and avoid debt. In our unstable economy, renting may be a safer and less stressful option.

2. Save money

Are you trying to save? Renting a cheaper property can be a great way to save cash. Whether you’re saving to start a business or to go travelling, renting may be the cost-effective solution you’re looking for.

When you’re renting property, you’ll also save on maintenance costs. The owner is responsible for the upkeep of the property, which means you won’t bear the financial burden of electrical and plumbing repairs. You can even find properties to rent where the water and security are covered by the property owner.

Other financial burdens that accompany property ownership include real estate taxes and down payments. If you’re the type of person who avoids debt at all costs, taking out a home loan to buy a property might not be the right option for you.

3. Live in your dream neighbourhood

Is there a neighbourhood that you wish that you could afford to live in? You may have found the perfect spot close to work with all the amenities you need nearby. If the houses in your dream location come with a high price tag, you could rather look for a place you can afford to rent instead of buying.

4. Less responsibility

Owning a property comes with extra responsibilities. Not only do these responsibilities cost money, they also take up time. When you’re renting property, it’s likely that you’ll enjoy more leisure time. Whether it’s going to the beach or hiking with friends, you’ll have more time to do what you enjoy on the weekends.

Owning a property can be stressful as it requires a commitment you may not be ready to make. With the pressures of our busy lifestyles, renting may be one way to decrease the stress in your life.

5. Extra amenities

While you may not be able to afford to install your own pool or jacuzzi, there are rental properties available that already have these features. This way you can enjoy all the advantages of these amenities without having to spend a fortune. A large garden is another feature that can improve your quality of life.

Now that you know more about the advantages of renting property, you can check out the homes available to rent online at GotProperty. From large houses to smaller apartments, there are plenty of different types of properties that are available to rent.