A house does not always have to be something that you buy to have your own home; sometimes it can be rented as well. This seems like an especially attractive option if you’re having trouble saving up enough money to buy your own house or you simply aren’t ready to take on the responsibility of ownership quite yet, but there are still some myths that surround renting houses that you need to know about before you consider this option.
The perception of renting a house is that it’s not ideal. People who rent homes tend to move around more than homeowners do. This is because they may be starting careers, or have changing family or relationship situations. It also could be because their rental rate increased and it’s no longer afford to live in that area. Renters move for many reasons, but these moves don’t happen as often as people think.
Indeed, renting a house is typically more affordable than buying one, but it’s not just for people with small incomes. In fact, in some cities, it’s harder to find an apartment than it is to find an available house. In other words, renting a house isn’t just for those who can’t afford anything else—it has its advantages too!
Another myth is that renting simply doesn’t allow for any storage space at all. However, there are plenty of condo-style buildings with built-in closets and storage spaces throughout. You might even find an empty room you can make into your own little office space or extra bedroom! Also, keep in mind that if you rent your house, you’ll never have to worry about splitting down payments or maintenance costs.
This is one of the biggest myths associated with renting houses, but it simply isn’t true. If anything in your house breaks or malfunctions, regardless of how old or new it is, your landlord is legally required to fix it immediately and make sure that you can live in a habitable environment. Most landlords offer home warranties just as they would if they were selling their own homes. The only difference is that since they are renting out their property instead of selling it, there will be no warranty from them after you move out. The best thing to do when renting a house is to ask for copies of all previous home warranties so that you have some proof if something goes wrong later on down the road.
Renters have all of the same rights as homeowners, including fair housing laws that prohibit discrimination on basis of race, color, religion, national origin, sex, disability, and familial status. A landlord may not retaliate against a tenant for standing up for his or her rights. It’s in your best interest to familiarize yourself with local renter-friendly laws before signing any lease agreements.
Since renters are responsible for damage done to a property, you might think that renting makes it easier to get evicted. However, many cities have tenant-friendly laws that make it harder for landlords to evict tenants without cause and without going through a legal eviction process. Some states have landlord-tenant laws that favor tenants over landlords in certain situations. For example, in New York State, if your landlord wants to evict you because he or she doesn’t like your dog or cat (or any pet), he or she must give you three months’ notice before doing so—and can only do so once every 18 months!
This myth is one of my favorites. Just because you are renting someone else’s house doesn’t mean that they are going to fix everything for free. While some landlords will, most won’t – and if you get charged for it, or have to do it yourself, you might as well buy your place. You’ll save money over time.
Purchasing a house is always better than renting. Renting can save you thousands of dollars. You can’t rent houses near good schools. There are no rentals for families with kids in my neighborhood. There are many myths associated with renting a house because of how many factors go into home-buying decisions, but there are also many benefits to renting that aren’t clear until you begin doing your research and looking at houses for rent yourself.
House-renting myths are everywhere. The truth is that renting can be just as good of an investment as purchasing, provided you choose to rent for short periods and at reasonable rates. Short-term rentals also tend to generate more money per month, which allows you to invest in other ventures—or use it toward your next house down payment!