We have always heard that owning a home brings actual satisfaction to the lives of people. But how far is it true? Sure one may feel secure and satisfied after purchasing their own houses, but do these standards work for people who are not ready to make any commitments financially and physically?
With a rented house/apartment, you can easily enjoy a flexible lifestyle where you can get up and leave anytime you find anything wrong with either the house or the area. But with your own houses, things tend to get a bit trickier.
If you are a person that likes to move around a lot, apartment for rent in Penang are the best options for you. In Malaysia, renting is considered a great way to have your own house without having to spend your whole lives’ savings in getting the perfect house. For those of you who are still not convinced of the fact that renting an apartment is indeed better than buying, here are some reasons that might help make things clearer:
Buying a house and maintaining it is far more expensive than what we think it would be. For every small crack or damage, you will have to spend a good amount to get it repaired.
If you are a person that likes to move around a lot, apartment for rent in Penang are the best options for you. In Malaysia, renting is considered a great way to have your own house without having to spend your whole lives’ savings in getting the perfect house. For those of you who are still not convinced of the fact that renting an apartment is indeed better than buying, here are some reasons that might help make things clearer:
Avoid major expenses:
Buying a house and maintaining it is far more expensive than what we think it would be. For every small crack or damage, you will have to spend a good amount to get it repaired.
Owning a house is very expensive, and unless you are okay with spending your whole monthly allowance trying to get that dripping garage roof fixed, we say you go ahead with buying a house/apartment. With a rented apartment/house, you do not have to worry a bit about maintenance issues. Just one cranky phone call to your agent/owner and the problem is solved in a matter of days!
No need for downpayment:
For house owners, it may take years to finally get over the burden of down payment with all those yearly amounts ranging on their heads. Renters are required to pay a security deposit while purchasing a house you will need to pay a good amount in the form of mortgage taxes. For those who do not have enough funds to afford the down payment, renting is a better option.Flexible:
Flexibility is the key point for rented houses and apartments. For a person who has a fixed job and a fixed rate of income, owning a house can be an option, but for those whose jobs include mobility and requires transfer from one place to another, getting a Kepong apartment for rent is a good choice.
Another important point is that it may be next to impossible to get your own house in the major areas of the city while renting a house in that area is easier. The rent may be higher than other areas but renters won’t have to worry about that because that is the only house expense they are paying.
Lower insurance and utility costs:
The insurance costs for renters is definitely cheaper than those that buy a house/apartment. Renters insurance can be covered easily under $12-$20 per month while the owner’s insurance is usually between $25 to $80 monthly. Utility costs are also higher for their own houses. They are usually bigger than rented apartments and consume more electricity, heat, and power; hence the costs tend to be higher than those of rented apartments/houses.Access to various amenities:
With the new apartments and blocks rising every day, the amenities offered by them are gradually increasing. It will be quite a huge expenditure for a person owning their own houses to construct and maintain a swimming pool, lawn, golf/tennis court, and pretty gardens in their plot of land. Renters, on the other hand, get all these amenities and more while paying just a bit more amount apart from the rent for gaining access to such wonderful facilities.Conclusion
Apart from these reasons, there is another big reason why renting an apartment is more suitable. We all know that property business is a tricky estate working solely on market ups and downs. With such fluctuations, the prices for land keep moving, which in turn affects the amount of taxes you pay for that piece of land.
Renters are not affected at all by such fluctuations as their rent amount is generally fixed throughout their tenancy period. The decision you make whether to rent an apartment or to buy one should be a clearly planned and chalked out. You must look at all the aspects very clearly before arriving at a decision.
