{"id":2207,"date":"2021-11-15T19:24:19","date_gmt":"2021-11-15T19:24:19","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=2207"},"modified":"2021-11-15T19:24:19","modified_gmt":"2021-11-15T19:24:19","slug":"4-things-every-renter-needs-consider","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/4-things-every-renter-needs-consider\/","title":{"rendered":"4 Things Every Renter Needs To Consider"},"content":{"rendered":"
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4 Things Every Renter Needs To Consider<\/p><\/div>\n

As a renter, you\u2019re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of\u00a0benefits to homeownership<\/a>\u00a0every renter needs to consider.<\/p>\n

Here are a few things you should think about before you settle on\u00a0renting<\/a>\u00a0for another year.<\/p>\n

1. Rents Are Rising Quickly<\/strong><\/h4>\n

Rent increasing each year isn\u2019t new. Looking back at\u00a0Census<\/em><\/a>\u00a0data confirms rental prices have gone up consistently for decades\u00a0(see graph below):<\/em><\/p>\n

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Median Asking Rent Since 1988<\/p><\/div>\n

If you\u2019re a renter, you\u2019re faced with payments that continue to climb each year.\u00a0Realtor.com\u00a0<\/em>recently shared the\u00a0September Rental Report<\/em><\/a>, and it shows price increases accelerating from August to September\u00a0(see graph below)<\/em>:<\/p>\n

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Rental Costs Are Rising<\/p><\/div>\n

As the graph shows, rents are still on the rise. It\u2019s important to keep this in mind when the time comes for you to sign a new lease, as\u00a0your monthly rental payment may increase substantially when you do.<\/strong><\/p>\n

2. Renters Miss Out on Equity Gains<\/strong><\/h4>\n

One of the most significant advantages of buying a home is the wealth you build through equity. This year alone, homeowners gained a substantial amount of equity, which, in turn, grew their\u00a0net worth<\/a>. As a renter, you\u00a0miss out<\/a>\u00a0on this wealth-building tool that can be used to fund your retirement, buy a bigger home, downsize, or even achieve personal goals like paying for an education or starting a new business.<\/p>\n

3. Homeowners Can Customize to Their Heart\u2019s Content<\/strong><\/h4>\n

This is a big decision-making point if you want to be able to paint, renovate, and make home upgrades. In many cases, your property owner determines these selections and prefers you don\u2019t alter them as a renter. As a homeowner, you have the freedom to decorate and personalize your home to truly make it your own.<\/p>\n

4. Owning a Home May Provide Greater Mobility than You Think<\/strong><\/h4>\n

You may choose to rent because you feel it provides greater flexibility if you need to move for any reason. While it\u2019s true that selling a home may take more time than finding a new rental, it\u2019s important to note how quickly houses are selling in today\u2019s market. According to the\u00a0National Association of Realtors<\/em><\/a>\u00a0(NAR), the average home is only on the market for 17 days. That means you may have more flexibility than you think if you need to relocate as a homeowner.<\/p>\n

Bottom Line<\/strong><\/h3>\n

Deciding if it\u2019s the right time for you to buy is a personal decision, and the timing is different for everyone. However, if you\u2019d like to learn more about the benefits of homeownership, let\u2019s connect so you can make a confident, informed decision and have a trusted advisor along the way.<\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.<\/em><\/h5>\n","protected":false},"excerpt":{"rendered":"

As a renter, you\u2019re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of\u00a0benefits to homeownership\u00a0every renter needs to consider. Finish Reading 4 Things Every Renter Needs To Consider<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[240,10,18,91,86,52,32,203,9,49,42,63,48,102,239,28,54,47,19,6,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2207"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=2207"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2207\/revisions"}],"predecessor-version":[{"id":2211,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2207\/revisions\/2211"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=2207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=2207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=2207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}