LEASING
Leasing is a viable option to home ownership, leasing offers the advantage of relatively short-term housing.
WHY SHOULD YOU LEASE A PROPERTY
Smaller Financial Investment
Leasing a home requires only a security deposit and first and last month’s rent, depending on the lease agreement. It’s significantly less money to enter into a lease agreement than it is to buy a home, because buying often requires a substantial down payment.
Minimal Repairs and Maintenance
Your budget will be more predictable when leasing a house because you are not responsible for the upkeep, maintenance and repairs. As a tenant, you will pay rent and some or all of the utilities, depending on the lease agreement. Unless you or your guests cause damage to the property, your landlord must pay for repairs and replacements when things go wrong.
No Loss of Equity or Property Value
When you lease a home, you won’t have to worry about the value of the property going up and down due to the housing market. A home can be a good investment if the value of the property goes up after you’ve purchased it, creating equity. When the property’s value decreases, you lose equity.