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Renting is the new buying. According to the National Association of Realtors, almost 6 million families will enter the rental market over the next 10 years. This trend toward rental homes and away from home ownership is not a passing fancy. It may seem that many have chosen renting over buying in the post-recessionary economy – because the mortgage market is still daunting. However, more cities across America have home prices that make renting a better deal.
When you include the luxury amenities that many apartment homes come equipped with, tweaking the American dream of owning a home to include renting one makes perfect sense. For these American families, the choice to rent instead of own is based on the flexibility and amenities that apartment homes provide. You are not locked into a mortgage, the property manager schedules and pays for maintenance, and you can afford a nicer neighborhood than you might be able to when buying. Renting is a realistic, long-term option that many people are consciously choosing.
The amenities alone are enough to convince you that renting is better than buying: free Wi-Fi, fitness centers, saunas, screening rooms, private workstations, clubhouses, barbecue gathering spots, playgrounds, gardens and more. In addition, the dedicated staff and management team are there to take care of the property. You no longer have to call the plumber yourself or pull another weed.
Renting provides a flexibility and freedom that owning a home cannot. While the desire to put down roots and build a nest may be strong for many, the economics of renting is beginning to make more sense in more cities across America.
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Infographic provided by LincolnApts.com