Renting. While your parents might tell you that you’re throwing money away, the fact of the matter is, the housing market has changed. For many, it makes more sense to rent as a young adult. Here are some of the perks associated with renting your first home after college.
It can be temporary
Owning a home is a long-term commitment many young adults find overwhelming. While many people want to live close to their family, the thought of staying in the same town where you grew up can seem suffocating. A young adult has the opportunity to travel, to experiment, to live in different locations and test out the waters of different towns.
Most rental housing options offer a yearly agreement for a lease option and commercial real estate options offer one- to three-year leases. While you might be able to find longer-term housing options available, year-long lease agreements are great for the traveling young adult who wants to find their place in the world.
They often have fixed rent amounts
The housing market is constantly fluctuating, but a rental option is designed with the budgeter in mind. A yearly lease offers a fixed amount of rent due at the end of each month; because it’s in writing, you’re better able to finance the costs of living.
If you’re looking for the perks of a pool, grounds maintenance, and access to athletic facilities, finding a space for lease might be the right option for you. Many rental groups offer access to amenities as a part of their lease agreements and it’s included in your monthly rent. This is a great way to exercise or entertain friends without leaving the comfort of your home.
Repairs and maintenance is covered
This is probably one of the biggest draws for new renters. Whether you’re looking for student housing options among your peers or commercial real estate options, your landlord is responsible for any maintenance costs and repairs that happen to your home or apartment. Of course, you need to clean and any damage you cause will come out of your security deposit, but general repair costs are covered by the landlord. This includes any plumbing issues, power outages, roof leaks, or appliance issues. The costs of fixing your home yourself can add up quickly; with a landlord or property manager taking care of the expensive fixes, it keeps money in your pocket.
Whether you’re looking for commercial real estate options in Newark or you want to look for residential real estate options, the Lang Development Group owns over 35 properties. When a new unit is leased every 80 seconds in the United States, don’t hesitate to call today.