Among the basic needs for human survival, housing is one of the major ones. However, this basic necessity is the most unaffordable to many people. Renting a house or owning a home is expensive for most people. Owning a home is every person’s dream, but most people find themselves having to settle for renting a house instead.
A rental house is a property an owner leases to a tenant for a mutually agreed rent or payment for some time. The agreement stipulates how and when a tenant should pay rent. It also states any rules and regulations that the owner may want the tenant to adhere to. Over time, most people, especially millennials, have embraced renting a home instead of buying or owning one.
You tend to think that you have to own a home to live your dream life. Whenever you look around, you get a message that you should buy a home. But maybe the idea of homeownership is overrated, and most people who own homes would have been better off if they rented. It is okay if homeownership does not make sense to you because renting could be the life for you, and it’s not a wrong choice either.
There are several reasons why renting is better than owning. As a tenant, you do not pay for repairs in your rental house. Home or house maintenance is not cheap, but as a tenant, you do not have to worry about it because your landlord has to cater for maintenance and repairs. Furthermore, you do not need a substantial down payment to rent a house in most cities.
Additionally, as a tenant, you do not tie your money up since all you need is a security deposit and rent for the first and last month. These costs are minute compared to what homeowners have to pay. You are also more flexible at work as a renter rather than as a homeowner. You can switch jobs easily or move to jobs away from your current town without the headache of thinking about your home.
Lately, many renting units are becoming popular by the day. One of such is the build-to-rent properties.
Build-to-rent houses are houses constructed by a developer who retains ownership of the property upon completion of the project. The developer rents out the housing units to tenants while still holding the rights to maintain the houses. Build to rent homes have gained popularity and massive growth due to housing shortages and the ever-hiking house prices. This has led many homeowners to consider BTR as the alternative to purchasing a home.
Most rental homes are developed in a professional community with excellent management. The home units are surrounded by community amenities ranging from tennis courts, swimming pools, shopping malls, and dog parks. All the amenities are managed professionally by the company that developed the project.
One such development company is the Christopher Todd Communities. This developer is known for building neighborhoods and communities that scream luxury and comfort simultaneously. Christopher Todd Communities come with all the amenities to meet your energizing, socializing, peace of mind, and pet needs.
BTR units have tenants across all ages but most especially millennials. Many couples with kids, single people, couples without kids, and retired people live in BTR. For many millennials, homeownership is something they desire but not a priority. Most of them with a stable source of income and good jobs are stuck up with other financial burdens and very little savings.
With a great desire for bigger space and a sense of belonging in a community, BTR has become a go-to place for most groups mentioned above. The units offer convenience, quality, luxury, and privacy, which most people desire. BRT enables you to afford the work-play-live lifestyle you want without incurring a substantial financial burden.
Homeownership has its advantages. In the long run, owning a home might be beneficial, especially if the house appreciates. Also, if you do not have to change jobs and your financial situation remains the same or grows to a more significant fortune. However, renting is the better option for you who do not want any financial burden on your head and want to avoid the uncertainty that comes with homeownership.