Millions of people across Canada rent their homes. Not everyone is able or ready to commit to purchasing their own home – so there are many benefits to renting. In this guide we shall look at how you can use property management agencies to find your perfect rental home.
Benefits of Renting a Home
Although owning your own home has its benefits, there are also great reasons to rent. You will generally get more for your money when renting. The deposit when renting is significantly lower than when you buy a house – you generally only need to put a deposit worth around the amount of the first month’s to secure your home. There are also no legal fees, land transfer taxes etc.
One of the other main benefits of renting a home is the freedom to move. This is particularly good if you go away a lot for work or have not decided where you want to settle yet. You have the ability to pack up and leave practically whenever you want – you don’t need to wait until you have sold your home which can take several years during slow housing market times.
You also do not need to worry about property values. Your rent stays the same for the length of your lease. When you own a house you risk losing money on it when you sell it – you don’t have to worry about this when you are renting. The final benefit is that you do not need to pay the cost of repairs, maintenance and gardening and landscaping on the home.
