Owning a home can be beneficial to many people, but sometimes renting options will be better for many people. Here are some of the reasons why choosing a tenancy is financially advantageous compared to owning a home.
No maintenance or repair costs if you rent
Typically, in a rental contract, if the electrical system has a problem or the plumbing system of your home is leaking, you are not responsible for any financial repairs. The landlord will be responsible for all repairs and maintenance.
Depending on the level of repair, this cost can be quite large. Therefore, tenants have the advantage over landlords that they do not have to pay any maintenance or repair bills that arise if that is not their fault.
These costs are paid by the landlord for the maintenance of the house, ensuring that the occupants are comfortable during their tenancy. If the tenant is responsible for the maintenance of the home during the lease term, the tenant will have the advantage of negotiating the rent with the landlord. This is important for tenants to negotiate a good rental rate.
Access to good facilities without worrying about the investment budget
If you rent a house, you can enjoy good utilities without having to pay for the construction and equipment. Your job is to find the right home for you at a reasonable price that fits your budget.
Do not pay property taxes
Obviously, the tenant, you will not be subject to this tax, which is owned by the owner, which is the landlord paid. Property tax is determined based on the value of the property, depending on the province, district, which have different tax rates. With high-value real estate, this tax is not small.
Avoid high initial billing costs
In real estate today, if you want to own a townhouse, you have to own 30 to 50% of the value of the house, the remaining amount can “rotate” by applying the form of bank loan with That is the house itself.
The application of interest-free installment is widely used by investors, but the initial cost that buyers pay is about 30% of the value of the apartment.
If you make a comparison between buying and renting, of course, the initial financial burden for renting will be greatly reduced. You only have to pay a deposit “deposit” only deposit from 1 to 2 months. In terms of financially, this is not worth the money compared to the initial cost to buy a house or apartment.
The increase/decrease in property values does not significantly affect rents
The housing market fluctuates that many investors are worried because the value of real estate that they own will be affected. If there is a real estate bubble burst in the future, it will be a big shock for the owners, the price of real estate will drop sharply, almost all transactions on the market are numb, so the owner also as investors “buried feet in place”.
In contrast, tenants do not need to pay attention to these things, if not to say they may be happier because the price of real estate on the market reduces the price of rental housing.
When you have a lot of work to do, there is nothing better than renting a house or apartment for yourself and your family. You will not have to worry about the problems of your home, no matter how far you go. If you own a home, you will have to worry about selling your house or hiring a home base when on a long business trip.
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