Top 5 Reasons Renters Keep Renting

 

Not just in Canada but the answer is pretty much evident almost anywhere across the globe. Why renters prefer to rent? Majority of the people who do not own a home like the idea of flexibility as they are not ready for a long term home commitment.

 Some others also look at renting as a lifestyle choice and prefer the perks, quirks and have evolved themselves to adapt the limitations. There are many reasons but after analysing the key trends on why people rent more vs. buying a home we have compiled the top 5 common reasons below.

 The most common 5 reasons renters give for not planning to buy in the future: 

  1. Affordability: One of the most unavoidable situation is affordability not all of us can buy a home. Along with the purchase comes a monthly, seasonal upkeep.

  2. Mortgage: Majority of the renters fear discussing about a mortgage as not only because they have bad credit but, also because they cannot afford any further damage. Also in every way it is better choice to pay month to month.

  3. Flexibility: Not all have a committed attitude while renting  a house as most of them rent a place close to work, family and if something changes they can move. Often renting also gives freedom to plan to extend their stay or move with a 30  day notice which is seldom possible if you buy a home.  Purchasing a home limits flexibility in future choices 

  1. Buying: Well let’s say you can afford a home and have a pre-approved mortgage some of us fear the never ending home buying process and choose to rent.

  2. Neighbourhood: After living in a neighbourhood for a while understanding its flaws often a few people choose to switch neighborhood.

 

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Gurcharan Garry Bhaura

Gurcharan Garry Bhaura

Broker of Record
CENTURY 21 President Realty Inc., Brokerage*
Contact Me

Tags