For some, renting is a viable option. The flexibility of staying in a rental might fit the single and happy-go-lucky lifestyle of others. It is a different story for families with kids. This demographic require stability. Often, renting cannot offer what they need.
Renting a Serin Condo Tagaytay as your home has its pros and cons. It is time you discover them before you settle in one. Below are some of the advantages and disadvantages of renting. The list helps you make better real estate decisions and decide if renting a condo is for you.
Advantages of Renting
- It is affordable.
Monthly rental dues are cheaper than mortgage and the interest fee. Though your expenses depend on the property you will undertake, you have the option to share your space. When you offer your home to others, you can split the expense.
- It comes with exclusive amenities.
Once you settle on a condo for rent, you won’t have to think of ways to entertain yourself. Modern condominium complex comes with high-class facilities. You can find an Olympic-sized pool, pocket gardens and an outdoor court. Some buildings even have laundry services. These amenities take the pressure off modern living to its homeowners.
- It offers security.
Other than the 24-hour security surveillance, you will feel at ease when renting. You won’t have to think of your unit’s maintenance. The owner or the landlord is in charge of the upkeep. All you must do is call him or her whenever there something needs fixing.
Moreover, the landlord or owner covers the fees for the improvements and upgrade of the features in the place. They must ensure the tenant (you) of the quality of their property.
- I won’t tie you down.
If you’re on the move, you won’t have to think of the property when renting. The owner or the keeper takes charge once you leave the area. You can look for a different property once the contract is over.
You can enjoy these benefits if you are renting while enjoying your singlehood. Unfortunately, renting also comes with disadvantages. Below are some of the cons you experience when renting as a single person.
Disadvantages of Renting
- It comes with hidden costs.
Renting a condo and living with exclusive amenities comes with additional fees. Besides your monthly dues and utilities, you might have to settle maintenance and security fees for the pool and the all-day security your condo complex offers. You might also have to pay hallway maintenance cost, garbage collection, and parking fees.
Other than these additional dues, your landlord may increase your rent. It might affect your budget especially if you live from paycheck to paycheck.
- It exposes you to fickle landlords.
These landlords complain whenever you mention upgrades or repairs. Unlike your tenancy, these landlords aren’t flexible when dealing with their tenant. They aren’t friendly and are rude to the people who come over the place. They are even grouchy when it’s time to pay your dues.
Most of all, they won’t allow remodeling. Fickle landlords prefer to maintain the chipped wall paint or used piece of furniture. Some landlords are unreliable. They trick you to settle on the price they set even when their property has low-quality materials.
- It offers a temporary home and limited parking space.
Renting isn’t the best option if you wish to build your family. Most condo rentals have a limited floor area. When starting a family, it’s essential to give each member space to move and place their items. Thus, renting a condo is not for you if you want to grow your family’s roots and establish your family’s history.
Your condo complex might have a parking lot, but the spots aren’t designated to homeowners. You might spend most of your time looking for a parking space and compete with others when parking your car.
- It opens your home to outsiders.
You may have a solution to your financial woes by splitting with a friend or relative, but you risk opening your home to strangers. Your living room or bathroom becomes a common area if your roommate always has guests. Hence, you risk your privacy when you are staying at a studio type or share a bedroom.
These are some of the disadvantages of living in a rental when you are single. It is a bit different from the problems families encounter when in a condo for rent. If you wish to live in a condo, it’s best to ignore these and focus on the advantages instead. Focusing on the good aspects of condo living helps you enjoy your single life at a rental.
Article by Alice Molina