Skip to content
icommerce.asia

icommerce.asia

Five Reasons You Should Not Rent in a Down Economy

Zara Nan, April 23, 2024

While many people are reluctant to buy in a down economy, there are actually many good reasons you should buy instead of rent – even in an economic downturn portable toilet rental. Consider these five reasons you should buy instead of rent, even in a recession:

  1. More people renting = higher rent.

Unfortunately, more people are renting apartments these days. With the number of people foreclosing on their homes, and people unwilling to make a purchase right now because of economic worries, the rental market is far more active than the home-buying market. This is bad news for renters, as landlords can afford to raise rents and still find tenants. It’s good news for buyers, though, because people trying to sell their homes may be more willing to make a deal.

  1. If your landlord can’t pay his mortgage, you’re out of a home.

The recession isn’t just affecting owner-occupied homes. If your landlord has trouble making the mortgage payment on your rental property, you could be the unwitting victim of a foreclosure and eviction. When you’re renting, you rely on your landlord’s ability to pay his bills. If he can’t, you’re out of a home.

  1. You’re throwing money down a bottomless hole, instead of building equity.

We all know that renting is throwing money down a bottomless hole, but it bears repeating – especially in this economy. It’s far better to be building equity in your own property when you make your mortgage payments than to be throwing your money down a bottomless hole and building equity in your landlord’s name. When you build equity, you’re building ownership of a property, and you’re also building a pool of money that you can tap later if financial circumstances warrant it.

  1. You don’t have control over your property and can’t implement money-saving improvements.

One of the biggest boons that homeowners have in a down economy is the ability to implement money-saving improvements on their properties. Pay far too much money to heat your property in the winter? Homeowners can replace the windows, but renters are stuck at the landlord’s mercy when it comes to implementing money-saving improvements.

  1. With a downward shift in home prices, you can buy cheaper than renting in some places.

Buying a home has never been a better choice in some locations. With home prices naturally balancing from their previously inflated levels, you can actually buy a home cheaper than renting an apartment in some areas. If you’re able to move further away from the city – even a ten-minute drive – you can generally get more space for the same price or even cheaper. With less people buying and more people renting, rental prices are even going up in some areas, leaving buying the cheaper option.

Don’t miss out on this opportunity to save some cash by buying and begin building equity in your very own home! If you’re ready to throw off the shackles of renting and purchase your own home, then let us help you start building equity in your future, today!

Opinion

Post navigation

Previous post
Next post

Leave a Reply Cancel reply

You must be logged in to post a comment.

Archives

Categories

Recent Posts

  • Top 10 Best Castella Fishing Reels Comparison

  • Top 10 Best Fishing Line Comparison Chart Comparison

  • Denim Vest Jacket for Mens

  • Top 10 Best Lew Fishing Reels Comparison

  • Blue Fringe Jacket

  • Good Winter Jacket Mens

  • Top 10 Best Casting Fishing Reel 6.3:1 Comparison

  • Military Jacket Men’s Amazon

  • Top 10 Best On Branch Master Nothing To Commit Comparison

  • Top 10 Best Spinning Fishing Reels High Speed Fishing Reels Comparison

  • Top 10 Best Stereo Microphone M101 Comparison

  • Top 10 Best Handle For Okuma Fishing Reel Comparison

  • Tan Sport Jacket for Men

  • Top 10 Best 8/0 Fishing Reels Comparison

  • Sean Jean Jackets Men’s

  • Prince T Shirts

  • Kids Photography in Boots

  • Denim Jacket Mens Asos

  • Top 10 Best Crab Fishing Reel Comparison

  • Top 10 Best 3 Wt Fly Fishing Reels Comparison

  • Top 10 Best Me-1 Stereo Microphone Compatible Comparison

  • Jacket Men

  • Mens Shorts 2020

  • What Do You Wear With a Wool Sport Coat?

  • Small Denim Jacket Men’s

  • Mens Bomber Jacket With Hood

  • Bomber Jacket Camo Men

  • Navigating the Complex Landscape of Franchise Laws in the Commercial Market

  • Men’s Cotton Military Jacket

  • Top 10 Best What Is A Trivet Comparison

©2025 icommerce.asia | WordPress Theme by SuperbThemes