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Four Reasons Why Renting In Washington DC Could Be Better Than Buying

So, let’s consider the main reasons which will ensure that renting is a better choice than buying.

How is renting better than buying?

The idea of buying a home may seem very attractive, but it’s connected with considerable financial resources plus other issues with papers and law.

However, renting is more accessible as more people can afford it in terms of finance, and also many renting agents can help to find a rental apartment within a few days.

But, it’s not just that; here are four reasons why renting is better than buying.

 1. It is less expensive

Buying a house will cost you thousands of dollars.

However, land in Washington DC is the most valuable in the USA. It costs $1.2 million per acre on average.

The reason which increases the land values is based on job and economic development which throws many people to move to Washington DC.

Despite this fact, renting is a more affordable option in the area. Furnished apartments in Washington DC start from $1410, which will save your income a lot.

So you won’t commit a sizable financial budget to it but will be able to live in a well-furnished house.

     2. You don’t have to think about repairs

As a renter, you aren’t responsible for changing the leaking roof or doing other decorations in the house. It is the owner’s duty.

But make sure you have researched and looked through the home well before renting. Make a note for each house defect and then tell the house owner to do corresponding repairs.

Otherwise, he/she can refuse to do it and blame you.

     3. Monthly costs are lower

You aren’t responsible for upfront costs when renting an apartment.

You do not pay property taxes for the house. Moreover, it is not your duty to do down payments, closing payments, and real estate commission fees. Instead, you pay your monthly fee and enjoy the housing. It means that your monthly costs are less than owning the house.

If you rent, you need to purchase renter’s insurance, which costs less money than homeowner’s insurance for a comparable property.

    4. You have the freedom to move wherever you want

If you want the house for working purposes, renting is the best choice.

Also, your working location may change from time to time according to your contract.

Some other better options may come along; in this case, you will not be attached to your house just because you have bought it.

So you can find a short-term rental apartment and pay for that one for a shorter period, then move to another house or another country.

Thus, if you don’t seek stability, renting is one of the best choices.

Conclusion

In a nutshell, whether to buy or rent a house, you should consider your financial standing and work preferences.

If you don’t want to commit lots of money to buy a new apartment and your working location can change from time to time, then don’t hesitate to rent an apartment.

On the other hand, if you think that you could decorate your own house the way you like, don’t worry as the choices of the apartments are a lot, and surely you will succeed in finding the one you want.

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