In any market, even a crazy one like we’re in right now, there are benefits of renting in Tucson…and all over the country. Tucson living is great and it’s even better once you find some amazing Tucson apartments that are pet friendly, perfect for everything from individuals to families, and once you see this list of the benefits of renting you’ll be sold!
Renting has often gotten a bad reputation which we don’t fully understand. Buying has benefits too but when it comes to housing you really can’t beat the benefits of renting in Tucson.
Let’s dive in and look at why renting in Tucson is such a great idea…these tips and benefits of renting an apartment will likely change our views on renting in general, no matter where you live!
Benefits of Renting in Tucson:
Today we are focusing on the benefits of renting in Tucson but really these benefits are for anyone who is renting an apartment versus buying a home!
Unlike homeowners, renters have no costs for maintenance on home repairs. If you live in an apartment with appliances you are even more well off because you don’t have to worry about those repair costs either.
Home repairs and maintenance can be very costly. Think of how much it would be to put in a new furnace, put new siding on your home, or install a new roof! Those very pricey fees are non-existent when renting!
Less Money Due Up Front
Many renters know that you have to put up a security deposit that is usually about the cost of one month of rent. Some other places will require first and last month’s rent with a security deposit as well. Even still, those costs are much lower than the 5-10% you need to put down when trying to get a mortgage for a home purchase!
You can get into a rental situation with less money down than you can when trying to buy a home outright.
Most renters have access to a lot of amenities that you wouldn’t have when buying a home…without purchasing them that is! Think of how much it would cost to install and maintain things like a gym, a pool, parking garages, parks, and more!
When renting you have access to these things and they’re maintained by someone other than you at no additional cost or at a reasonable rental fee. It’s a no brainer!
No Real Estate Taxes
When you are renting you don’t have to pay real estate taxes. When you buy a home, each and every year you are responsible for real estate taxes. They vary from place to place but are typically at least a few thousand dollars per year. If you don’t plan very well that can be a huge expense that sneaks up on you!
Renting is amazing if you like to travel or if you want to switch jobs, etc. You don’t have to try and sell your home, you can just move when your lease is up! Renting in new places is great too because you will be able to meet more people who are living nearby and experience new places!
Lower Insurance Costs
Last but not least, lower insurance costs are a benefit of renting. When you are renting you can carry renters insurance to protect your belongings but you don’t have to pay a full insurance premium like you would if you need to protect the entire structure, appliance, etc.
Renting can save you a lot of money on insurance, taxes, fees, amenities, and more. All while you stay at a fixed rental cost for usually a year or more at a time!