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Cities and towns grow upward
Not only is the population increasing, as cities and towns grow with the industry, but they are also attracting people from other places to their job market. Rental property must bloom to accommodate the rush of employees, both short and long term. You can't expand the ground beneath your feet but expanding upward with rental apartments, townhouses, etc., is surely within reasonable expectations.
Why do people think renting a home is a good decision?
More freedom and financial gains
Researchers say that renting a home is actually a better choice than buying a home. Renting gives the residents more freedom and financial gains. They can live peacefully without having to stress about constant repairs and maintenance issues. Those who have not settled into the job market may find the commitment to buying a home just too overwhelming. Often renting closer to where one works, the social activity and security a rental community can provide are often more rewarding to many. Why buy when moving in a year may be an option when you can have a swimming pool, tennis court, and such by simply renting.
You’re not locked into a long-term mortgage
On buying a home, you are caught up in this property for many years. Renting allows you to choose the length of your lease, offering more flexibility for you and your family. If your future plans may include moving out, renting is the best option.
You save money on home insurance and maintenance
When you buy a home, you are likely to pay much more for insurance and maintenance of the property. According to experts, homeowners will spend approximately 1 percent of their house’s worth each year on maintenance costs. Renting a home will help you save that additional cost each year.
A buy-to-rent property investment may be the right choice for you if you:
- prefer investments that are more tangible than shares and stocks
- are ready to tie up your money for a long term
- understand property prices can rise as well as fall
- understand and accept the additional risks involved in borrowing money to buy a real estate property
- understand and accept the time and costs involved in buying and running a property and the effect that this will have on your potential return
Landlord financing is a big commitment. If you're sure it's the right choice for you, the next step is to arrange a buy-to-rent mortgage. It's important to understand that these differ a lot from ordinary residential mortgages. One of the biggest differences is that most buy-to-rent lenders will only offer mortgages that are up to 80% of the property value, meaning you will have to pay 20% of the property value yourself upfront.
Whether you are planning to invest in your first buy-to-rent home or apartment or looking to add to your property portfolio- we are your one-stop source for the most accurate, up-to-the-minute information about property prices in the US. Our mortgage lenders are here to help you find that ideal house that gets your rental business up and running.
For more information on buy-to-rent properties, contact Rental Home Financing at CALL TODAY: 888-375-7977, let's talk landlord financing today.
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