One of the greatest places to live in the United States is Orange County, California. It offers beauty, panoramic views, a perfect blend of suburban and urban living, but not too much urban, perfect climate, and the gorgeous coast that spreads over forty miles. Home sweet home and location, location, location goes perfect together in Orange County. However, you will need to decide if renting or buying a home here. The decision is not an easy one as both alternatives have their pros and cons, however renting offers a more flexible option.
When looking at the issue of renting vs buying, it is important to look at the advantages of renting, which will shed some light as to why renting versus buying a home will prove a much better choice. Here are a few benefits to renting a home vs buying one.
- The freedom it offers is one of the most important issues of renting a home. Since a rental contract can be negotiated for more or less time, this can be the perfect option for people who are exploring a particular neighborhood to later buy a home, or for people who have jobs that need them to relocate frequently. In addition, it is the perfect solution for singles and younger couple who are not ready to commit to a mortgage lifestyle.
- The cost of ownership is non-existent when you rent a home. All repairs are paid and done by the property owner, leaving you with freedom of time and more money in your pocket. Help is just a phone call away without having to deal with the burden of home repairs.
- The level of commitment in renting vs buying a home is very different; you are talking short-term vs long-term here. You are not locked-in as in the case of a mortgage. If you need to move fast for any reasons, you can always negotiate something quick with your landlord; if you own a home and need to relocate right away for some reason, you will have to put your home for sale, or rent and that can take a long time. In addition, many people cannot afford handling two mortgages at once, or the maintenance and upkeep of two properties.
- Peace of mind and no sleep lost over equity ups and downs. With the recent economic meltdown, many homes value plummeted and homeowners found themselves with no equity or with very little, and in many cases owing more than what the home is worth. When you rent, this does not become one of your worries.
- Home ownership is more expensive than renting. When you own a home, you have to pay a mortgage, maintain your home, repair your home, insure your home, pay your utilities, and pay taxes on your property. When you rent, you just have to worry about just that – paying your rent and some utilities.
These days, with declining home values, high unemployment, and difficult financial decisions – renting a home makes good sense for a lot of people. If you’re serious about renting a home in Orange County, contact us. We make finding the right OC home rental easy.