During the course of a long career as a realtor in San Francisco, Charles Turner has helped many of his clients make the difficult decision between whether to buy or rent a property. He points out that both have distinct advantages and disadvantages that need to be considered before a decision is made and notes the following as some of the benefits of renting.
Lower Initial Expenditure
When buying a property, you will need to raise a large deposit on the house in addition to dealing with legal fees and a range of other costs, all resulting in a sizeable initial investment. This expenditure is reduced drastically when renting, as you will usually only need to concern yourself with a security deposit, advance rent payments and any fees that your realtor charges.
Flexibility
Purchasing a house obviously means that you, and by extension much of your income, is tied into that property. By renting you offer yourself more flexibility in terms of what you may want to do a few months down the line. In most cases, your initial tenancy agreement will run for six months, allowing you to make other decisions far earlier than you would be able to if you buy.
Maintenance
As a former property manager in San Francisco in his own right, Charles Turner San Francisco points out that renting means that you don’t need to concern yourself with most of the expenditures that are related to property maintenance. As long as you have acted within the confines of your tenancy agreement, you should find that most maintenance issues are handled by the property manager.
Lower Initial Expenditure
When buying a property, you will need to raise a large deposit on the house in addition to dealing with legal fees and a range of other costs, all resulting in a sizeable initial investment. This expenditure is reduced drastically when renting, as you will usually only need to concern yourself with a security deposit, advance rent payments and any fees that your realtor charges.
Flexibility
Purchasing a house obviously means that you, and by extension much of your income, is tied into that property. By renting you offer yourself more flexibility in terms of what you may want to do a few months down the line. In most cases, your initial tenancy agreement will run for six months, allowing you to make other decisions far earlier than you would be able to if you buy.
Maintenance
As a former property manager in San Francisco in his own right, Charles Turner San Francisco points out that renting means that you don’t need to concern yourself with most of the expenditures that are related to property maintenance. As long as you have acted within the confines of your tenancy agreement, you should find that most maintenance issues are handled by the property manager.
