Sunday, May 3, 2015

Advantages Of Paying Rent Killeen Over Owning A Home

By Toni Vang


For many years now most people have been dreaming of owning their own houses that they can raise their children in. A closer look at the current trend in the market today, it is clear that this is no longer the dream for many. This is because there are so many benefits that one gets to enjoy when they opt to rent a house rather than buy one. Many have come to learn this making paying rent Killeen a preferred option for many.

The bills reduce greatly when you are renting when compared to a person who owns a home. The fact that a tenant will not have any repair bills or maintenance bills to pay off at the end of every month is an added advantage. This is because the landlord is the one who is generally responsible for these type of bills. The financial responsibility of fixing things around the house lies with the landlord and not the tenant.

When you are a tenant there are many amenities that you can access. This comes at an added cost for each of the home owners. Some of these amenities include an in ground pool or a fitness center. Even though the tenant will have to pay for them it will be not be as much as the home owner will pay. To install these amenities it would cost him thousands of dollars.

As a tenant no huge down payments are required from you. The landlord might require you to pay a down payment that is equal to the rent they pay in a month. This is a very small amount when it is compared to the down payment that is required when a person wishes to buy a home. The amount is so large that one must start saving up years before.

The property market is not that stable. Sometimes it might be up other times it is down. This will affect the home owner because the value of the house is fluctuating. Since the tax he is expected to pay is tied to the value of the property the taxes will also fluctuate with the market. The tenant is free from this since the rent he pays is always fixed.

When the flexibility of each tenant and that of the house owner are compared, it is to be found that the tenant is more flexible. In the times of hardships, when paying rent is difficult the given tenant can easily move to a much cheaper house. The same cannot be said for the home owner since there are a lot of fees he will incur if he decides to sell the house.

The tenant on the other hand can move to a more affordable house at will as long as the lease term is over. The lease agreement is a contract every tenant has to sign before he can move into the apartment. It is usually fixed over its term. This means in Killeen, TX the rents are fixed. This makes planning for the income very easy.

The home owners are expected to pay real estate taxes each year. This can be a big burden for them. The tenants do not have this burden and it is an added advantage to them. The taxes might vary from one county to the other.




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