It is not common for people to dream of owning their own home, but in fact, according to McCrindle’s Renter of the Future report nearly one-third of tenants in Australia have said that they prefer to rent, not because of the financial benefits, but due to the benefits of living a life.
Let’s take a take a look at some convincing motives as outlined by tenants.
Affordability
Renting is generally cheaper than purchasing. In most instances, the monthly rent expenses are generally less than mortgage payments especially in capital cities. If you are a young professional seeking an exciting lifestyle and opportunities for career advancement in cities renting is an excellent option. Renting offers more value for money when you can afford the cost of renting where you would like to reside and have enough money in your savings account every week, you could be in better shape, plus you won’t be burdened with mortgage or the burden to pay it off.
Moving locations
Nearly 40 percent of renters claimed that the ability to change their residence quickly is an enormous advantage of renting. Most of the time renting in Australia is only an agreement of between 6 and 12 months.
You realize that you don’t like the neighborhood? Are you looking to relocate closer or farther away from the CBD? Do you want to find a new job? After this time there’s no requirement to renew the contract , and it is your choice to relocate to a place that’s better suited to your needs.
Upsizing and reducing
Perhaps you have a friend who is moving in, or you’ve made the decision to do your work at home, and require an additional room. It’s unusual for requirements regarding space to fluctuate constantly. In McCrindle’s study 24 percent of respondents acknowledged this, citing the capability to increase or decrease the size of their house quickly as an advantage. In this way, you can also adjust your living space to your budget without much trouble.
There are no maintenance or repair costs
The advantage that renters have in comparison to homeowners is the fact that renters don’t have none of the maintenance costs or repair bills to pay. If you 租约 a home the landlord is accountable 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. Based on the type of repairs are, they can be quite substantial.
Access to services
Another advantage of renting, as opposed to buying a house on one’s own, is access to amenities that otherwise would be a huge expense. Facilities like an in-ground pool or fitness center are offered in a variety of mid- to high-end apartments at no extra charges to the tenants. If a homeowner would like to have these facilities and amenities, they can anticipate paying thousands of dollars for installation and maintenance charges. Condo owners also have to pay monthly fees for these facilities.
No Land Tax
The main advantage renters enjoy in comparison to homeowners is that they don’t need to pay taxes on land. Land taxes is a significant tax for homeowners, and the tax rate varies from state to state. The landlord is accountable for paying this tax . As the renter, you are not in charge of it.
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