Home » Home » ApartmentLove Discusses The Pros & Cons of Renting vs. Buying in Todays Real Estate Market

Renting and reinvesting the savings from renting, on average, will outperform owning and building home equity, in terms of wealth creation. 

Chicago, Illinois, April 25, 2022, One of the effects of the Covid-19 Pandemic is the opportunity to work remotely. This has not only changed the employment sector, but also means that people can live in the suburbs, as opposed to the big cities, where living expenses are less. Renting an apartment in a big city can be quite a revelation, while renting the same type of unit away from the city means a sizable savings in monthly living expenses.

The fact is that home prices are rising faster than rents, which is shrinking the affordability gap between being a homeowner and a tenant. Interest rates have been rising while the high rate of inflation makes home buying less appealing.

Potential home buyers need also to consider that it could be more lucrative to take the down payment on a home and put it in the stock market or another higher yielding investment. While it is usually necessary to put-up a one or two-month security deposit on a rental, it is still far less than the deposit required to buy a home.

If a homeowner defaults on their mortgage payments, all hell breaks loose. If a renter cannot afford where they are renting, they can simply move to a more affordable rental. Granted that a renter may lose all or part of their security deposit, this can often be negotiated to lessen its impact. Still, the damage to a homeowner’s credit scores as well as their expenses to get out of the mortgage can be immense. Bankruptcy is often the only option to escape the bank’s onslaught.

Another consideration is that after living in a newly purchased home, all sorts of hidden problems rise to the surface. Septic tank problems, plumbing problems, electrical code problems. What happens is that when the new home buyer tries to pull a permit to do some work in their new home, the building inspector discovers many issues of items not up to code. This is a veritable pandoras box.

On the other hand, a renter can contact the landlord or management company and have these issues resolved without cost to the tenant. This is a real money-saver and stress avoiding way to live. Renting makes it easier to enjoy one’s life without having to deal with always worrying about what is going to need repair in the near future.

It is now a simple task to find an apartment or house rental. One need only to enter some basic information and the search begins, automatically. Browse extensive lists of the best homes and apartments for rent in the selected areas. Rent with the confidence of knowing that the properties were listed by trusted ApartmentLove® partners.

Whether searching for a condo, an apartment, a house, or other living accommodations, browse through the listings and narrow results using advanced filters. Choose from desired features such as number of bedrooms, number of bathrooms, parking, pet-friendly, and more. This is apartment and home rental searching in the digital age at its finest. Imaging knowing that all of the listed properties were vetted by the ApartmentLove Team.

For complete information, visit: https://apartmentlove.com/

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ApartmentLove Inc.
Attn: Media Relations
Chicago, IL
(647) 272-9702