It is not common for people to dream of owning their own house, in fact, according to McCrindle’s Renter of the Future report more than a third of tenants in Australia have said that they prefer to rent, not because of the financial benefits, but rather because of the benefits of living a life.
Let’s take a look at some convincing motives as outlined by tenants.
Affordability
Renting can be less expensive than buying. In most instances, the monthly rent costs are typically lower than mortgage installments particularly in the capital cities. For young professionals looking for a fast-paced life and opportunities for career advancement in cities renting is an advantage. Renting offers more quality for the money you spend when you can afford the price of the place you wish to reside and have money to deposit into your savings account every week, you could be in better shape, plus you’re not burdened by mortgage and the burden which comes with it.
Moving locations
About 40 percent of renters claimed they could move around easily is an important advantage of renting. In the majority of cases renting in Australia just requires an agreement of between 6 and 12 months.
Are you aware that you don’t feel at home in the area? Are you looking to relocate closer or further away from the CBD? Are you looking for a new job? After this time there’s no requirement to renew the contract , and you are free to move to a place that’s more suitable.
Upsizing and reducing
Perhaps you have a spouse who’s moving in, or perhaps you’ve made the decision that you’d prefer to stay at home working and you’re in need of additional space. In any case, it’s unusual for requirements regarding space to fluctuate constantly. According to McCrindle’s research, the majority of people acknowledged this, citing the capability to expand or reduce the size of their house quickly as an advantage. In this way, you can also adjust your lifestyle to suit your financial needs without a lot of trouble.
No maintenance or repair costs
The advantage that renters have against homeowners is they don’t have none of the maintenance costs or repair bills to pay. If you lease a house and your landlord is responsible for all repair and maintenance expenses. If an appliance of the property fails or your roof begins to leak, you don’t have any financial obligation to get these issues fixed (in the majority of instances). The homeowners, on the other on the other hand, have to pay for their own maintenance, repair and remodeling expenses. Depending on the kind of repairs are, they could be substantial.
Access to services
Another advantage of 租约 a place rather than purchasing a home of your own , is the access to facilities that could otherwise cost a lot. The latest amenities like an in-ground swimming pool or fitness center are available in many mid-range to luxury apartment buildings at no additional cost for tenants. If a homeowner would like to enjoy these amenities and amenities, they can anticipate paying thousands of dollars in construction and maintenance charges. In the same way, condo owners must pay monthly fees for these facilities.
No Land Tax
One obvious advantage that renters enjoy in comparison to homeowners is that they don’t need to pay for land taxes. Land taxes can be a huge cost for homeowners, and the tax is different for each state. The landlord is accountable for paying the tax, and as the renter, you are not accountable for the tax.
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