Posted by: phillipsre | May 5, 2015

The Perks of Renting

home-for-rentThere are apartment buildings going up all around the city and the country. People are choosing to rent over buying a home for a number of reasons, but the main reason is usually cost. For a lot of people; millenials, former homeowners and retired folks, it is more cost effective to rent a home than put down a large down payment on a home that you may have to invest more money into. This article from Rent.com has 15 Benefits of Being a Renter. The majority of the benefits fall into the categories of: freedom, flexibility and fun. Being able to move at a moments notice, not having to mow the lawn or do yard work and having less stuff are are few of the benefits mentioned.

There are still challenges with renting, a recent analysis of Census data by Enterprise Community Partners found that 1 of 4 people in the US are paying half their income to their rent and utilities. Unfortunately, it seems that rents are continuing to go up, while higher incomes and cost of living increases are not being offered by most employers. This report from the Associated Press and KREM news highlights some of the struggles that an average renter faces around the country.

If you are looking to see what rents are like around the country, click here to see what the priciest cities are to rent in and check out this link to see where you can find the cheapest rents.

For rentals in Seattle and surrounding areas, check out Phillips Real Estate Services rental search.

 

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