What are the Lifestyle Advantages of Renting a Condo Rather Than Buying It Outright?
We all have our forever home in mind, right? That dream property where we will eventually end up, perhaps raise a family, and grow old with our favorite people?
For me, it’s a seaside villa in Portugal; somewhere close enough to my home country to visit, but far enough away to enjoy some peace and quiet.
And as beautiful as that sounds to me, I am nowhere near ready to settle down. In fact, the thought of owning a property outright doesn’t appeal to me at all. I am very happy without any responsibility.
But that’s just one man’s opinion.
In this article, we’ll look at the lifestyle advantages of renting a condo rather than buying it outright.
Buying is an Investment
Before we start, it’s important to state that investing in real estate is an excellent way to build your wealth. When done properly and with sufficient research, it’s an incredibly smart thing to do. So, do not misunderstand me when I say that renting is my preferred option. It’s all about weighing up what means more to you as an individual.
Renting = Freedom
Renting a property gives you total freedom to move on whenever you want. You are not bound to any single property. As soon as your contract is up, you’re free to wander – or even leave the country if you want.
Renting = No Responsibility
When you rent, your only responsibility is to protect your deposit, which means treating your rental property with respect. That’s it. Everything else is your landlord’s problem.
If like me, you like to have zero worries in life, the freedom from owning a property outright can be very rewarding indeed.
Renting = No Large Investments
Again, this article isn’t intended to offer sound financial advice. The fact is, investing your money wisely and getting onto the property ladder is good advice.
However, renting is also great because you don’t have to put up large amounts of money. Instead, you can spend your earnings as you see fit – such as traveling the world and seeing it in all its beauty.
Renting = Access to Upmarket Neighborhoods
When you rent, often you can afford to live in upmarket neighborhoods that would otherwise be out of your price range if you were buying a property. Take Bangkok as an example: there are loads of cheap apartments to rent in beautiful, up-and-coming areas with all of the local amenities that one could ask for!
Renting = No Worries
Fluctuating property values? Political instability? Fewer tourists visiting? Competing with other holiday homes? High mortgage payments? These are all concerns that are strictly reserved for property owners. When you rent, on the other hand, you can save your energy and time by not having to worry about anything!
Conclusion
Ultimately, if you are at a time in your life where you want to freely travel and explore without anything tying you down, renting is the superior choice.
Again, there are many, many advantages to investing in property and it’s certainly worth considering in the future. Check out these detached houses for sale in Thailand for some awesome listings. But for now, if you want to enjoy your money and get some invaluable life experience, rent those condos and go as you please!
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