It’s been taken as truth for a long time. Renters just are throwing money away, the ‘experts’ say. Buying a home makes much more sense than renting, they continue.
But recent research indicates this may not be so for everyone.
Here’s the other side to the renting story.
Six Benefits that Renters Enjoy
- Renters have the intrinsic benefit associated with flexible choices on where to reside. Under the temporary terms of your contract, you are free to pick yourself up and move more easily than if you are ‘anchored’ by a home.
- Renters have more financial flexibility than the home owner tied to a costly mortgage. Should circumstances make paying rent too difficult, you have the choice of moving to a less expensive dwelling after the lease is up.
- Renters insurance is relatively cheap. That’s because you are not paying for coverage of the structure, but the contents that belong to you.
- The main responsibility of home maintenance lies with the landlord and not the renter. If there’s a leak in the roof, it’s the landlord’s headache to take care of it and fit the bill.
- Renters can choose to live in apartment complexes that offer facilities they may not enjoy in their privately-owned home, like indoor or outdoor swimming pools and even entertainment centers.
- After the lease is signed, renters do not have an unexpected expense, such as a sudden property tax increase that homeowners may experience.
Insurance people understand that different folks have different needs and likes. Whether you own a home or rent your dwelling place, we can help you get the coverage that fits you.
PRIME Insurance is a three-generation family-run independent agency. We’re proud to partner with many of the leading underwriters – recognized companies like ACE, AmTRUST, ASI, ASSURANT, CHUBB, CNA, Employers, FOREMOST, Liberty Mutual, MetLife, PROGRESSIVE, Safeco, StillWater, Travelers, USLI, ZURICH and more. This gives us the ability to provide all forms of nationwide coverage and bonds at competitively lowest quotes. Visit us on our online insurance website or email us at PRIME [at] primeins [dot] com or call us at 732-886-5751 and HAVE A PRIME DAY™!
Summary: Everyone assumes owning a home is better than renting. Prime Insurance highlights the benefits of renting a home or apartment, illustrating the 'other opinion' about residential options.