With a thriving housing market and inflation on the rise, the ongoing debate of homeownership versus renting is as heated as ever. However, with the average home selling at 19% higher than years prior, according to the Case-Shiller U.S. National Home Price NSA Index, the drastic growth in the housing market over the last two years could prove to be a deal-breaker in the longstanding debate. As a result, many are deciding to rent instead of buy in response to the low inventory and high cost of homeownership nationwide. After all, with home prices at an all-time high, can the value of your home really increase much further? Historically, buying a home could be the more affordable option over a longer period of time, but in the current housing market and with inflation at an all-time high, renting just may be your best option yet.
1. A fixed monthly rate means more financial flexibility! //
“Homes are expensive now … but for most people, the comparison that is most important is how that cost of homeownership is going to compare to the cost of renting,” says Jeff Tucker, Zillow’s senior economist, in a recent interview with CNBC. That being the case, experts predict that in 2022, the average American won’t have as much disposable income to invest in purchasing a home, especially with decreased discretionary income, increased mortgage rates, increased inflation, and the unpredictable costs of long-term home repair and maintenance. In contrast, while rental prices may rise with inflation in 2022, renters have the advantage of a short-term financial commitment with minimal up-front costs, increased financial flexibility, and consistent, predictable monthly rates.
2. Minimal emergency costs allow for strategic financial planning! //
One of the significant benefits of renting a home during these uncertain times is that you are not required to pay the taxes and unexpected fees (HOA and Municipal) often associated with the home. Renting a home can provide residents with peace of mind, knowing that, unlike buyers, should any emergency maintenance issues arise, they are not required to cover maintenance costs. Instead, renters simply need to call their property management company and inform them of the issue, which is then often resolved quickly and efficiently. In comparison, homeowners should be prepared to financially invest considerable funds in emergency home maintenance and repair throughout the years. For the most part, while owning a home can allow for unique opportunities not always readily available to renters, renting a home is generally a more stress-free living experience.
3. Transfer rental homes without the stress of having to sell! //
Another wonderful benefit to renting in 2022 is the ability to strategically relocate quickly and efficiently. Let’s just say you just got a new job in a new location, rather than going through the hassle and stress of preparing your home to sell (renovating/updating as needed, deep cleaning, etc.), putting it on the market, and waiting for a buyer, a renter can generally move out of their rental home within a two to three week period, if needed. Some rental companies (like ResiHome) even offer current residents the convenient option of simply transferring rental homes, thus minimizing the resources and energy required to move to a new location with a new property management company. With more U.S. households renting now than ever before, builders and rental companies alike are stepping it up a notch by providing renters with brand-new rental homes in dedicated rental communities, making it wonderfully simple to rent a beautifully designed, newly-built home at an affordable price.
Take time to research what would work best for you and your lifestyle.
Ultimately, while renting a home in the current economy has strong arguments, the reality is that the answer to which living option is “better” is going to look different for everyone, depending on varying needs and preferences. Industry experts agree that the best approach to buying or renting comes down to the individuals involved and what works best for them. As such, we encourage potential buyers and aspiring renters to carefully consider both sides of the argument so that they can make an informed decision that better aligns with their current life goals.
Don’t give up on your dream home – rent with ResiHome!
Whatever your current life goals may be, here at ResiHome, we make it easy for everyone to find their ideal home by offering great rental opportunities to residents seeking high-quality single-family homes at an affordable monthly rate in great locations nationwide. Whether you’re looking for a beautiful newly-built home in a growing suburb or a great renovated property in a well-established neighborhood, ResiHome has it all! Click the button below to learn more about why you should consider renting with ResiHome!
Now that warm weather is here to stay, it’s almost time for the vacation season to start! But, before you head out for vacation, it’s important to prepare your rental home for the few days that you’ll be away. Listed below are four effective tips on how to best prepare your rental home for summer vacation so that coming home is something you look forward to and not something that you dread!
While not always a fun task, it’s an important one, nonetheless. Before you head out for a trip (especially if you’ll be gone longer than 3 days), it’s always a good idea to get rid of perishable food items in your fridge, wipe down your kitchen, and empty out the trash. There’s nothing worse than coming home to dirty dishes in the sink and stinky trash in your trashcan, so take the time before you leave to prepare your home for your return.
Kinda nervous about leaving your home for a long trip? Buy an indoor lighting timer to add an extra layer to your home security. With your indoor lights on a sequence, you can schedule when your lights go off and on, giving the allusion that someone is home. While this traditional method of home security isn’t guaranteed, it can definitely bring some comfort in knowing that it at least looks like someone is home. Need a light timer but don’t know where to get one? Click below for a digital timer for only $25!
To save money on your electric bills while you’re away, unplug unnecessary electrical items before you leave on vacation, such as your TV, toaster oven, phone chargers, and more. Unplugging your unused electrical devices also protects your electronics and appliances from unexpected power surges that may occur while you’re away on vacation.
There’s nothing more frustrating than coming home from vacation to a dripping kitchen ceiling or a flooded basement, so it is always helpful to have a friend or family member check in on your rental home while you’re away to make sure that nothing is out of the ordinary. This is especially helpful when an unexpected storm comes through. Plus, having a friend look in while you’re away can be comforting, and provides an added sense of home security.
Preparing for a vacation is always exciting, but don’t let the dread of a dirty house prohibit you from enjoying a relaxing return home. Find comfort knowing you’re well prepared so that you can fully enjoy your vacation.
With the start of summer almost upon us, it’s time to prepare your rental home so that you can fully enjoy the sunny season without the stress and inconvenience of last-minute upkeep! Here are six things that you can do to get your rental home ready for the warm summer months so that you can sit back, relax, and enjoy the start of summer.
Instead of waiting for the first sweltering day of summer to turn on your AC, check to make sure your AC unit is working properly as early as April or May. When the weather is in that ideal in-between of late spring and early summer, turn on your air conditioning unit to see if there’s any maintenance that needs to be done. This is a great opportunity to make sure that everything is running smoothly in your AC unit, allowing you to enjoy a nice, air-conditioned home that keeps you cool all summer long.
Now that you’ve checked your AC unit to make sure that it’s working properly, it’s time to check your doors and windows to make sure they are properly sealed. Go through your rental home and inspect all exterior facing doors and windows so that they are suitably sealed to take on the summer storms and unrelenting heat.
Switching out your air filter on a regular quarterly basis helps you avoid dirty air filters that block the flow of clean, cool air, which is especially important during the height of the summer. Replacing your air filter is a simple but crucial task in home upkeep.
Need more ideas on how you can prepare the interior of your home for the warm, summer months? Click the button below to view your list of resident responsibilities.
You know all those little I’ll-use-it-one-day tidbits that have been slowly taking over your kitchen drawers? Well, now’s the time to refresh your space – say sayonara to your unused items and be prepared to be amazed at all the space you forgot you had.
Pro Tip: Have a bunch of gently used winter items that you haven’t gotten around to packing away in the attic? Donate bags of gently worn garments to your local charity shop or thrift store. Have a lot of clothing, furniture, and odd-and-ends to get rid of? Host a garage sale! A garage sale is a great way to clear out all of your clutter all at once while also allowing others to re-use and enjoy your gently used items.
It’s almost time for summer evenings spent out on the lawn grilling, gardening, and enjoying the beautiful weather. However, it’s easy to forget those little pestering bugs that always seem to show up uninvited. Before summer settles in, take preventative steps to get rid of pests by spraying your lawn down with insect spray, setting out citronella candles, and making sure all windows and doors are properly sealed.
Click the button below for a link to natural and kid-and-pet-friendly lawn spray.
With everyone wanting to spend time out of doors, late spring is the perfect time of year to get a headstart on lawn maintenance! Whether trimming walkways, re-mulching your flower beds, or mowing/watering the lawn, these tasks are all simple ways to make your lawn look healthy and ready for summer. To protect your lawn against the unrelenting summer sun, if you have an irrigation system, be sure to adjust your sprinkler settings in line with your county or municipality usage regulations or to your preferred setting (recommended twice per week, 15 mins each time). For more information on irrigation recommendations, please click the button below.
It’s easy to overlook all the important steps it takes to ensure that your rental home is prepped and ready for the start of the new season. Stay on top of your rental home upkeep and enjoy a relaxing summer!
October 2021 | ResiHome Blog | Kirsten S.
Finding the perfect rental home is no easy task. After weeks of searching, it’s easy to get worn out and weary after browsing countless rental listings, but at ResiHome, we make finding your dream rental quick and easy! Our newly updated and modern rental homes are designed to be so much more than simply a short-term living solution, they’re designed to be a home. Rentals have so much potential, and with some intentionality and imagination, you can find AND rent your dream home.
Continue reading below for four tips on how to find your dream rental!
4 Tips on How To Find The Perfect Rental:
Everyone thinks they know what they want when it comes to their new house. However, when it actually comes down to selecting the home, it’s so easy to get overwhelmed and intimidated with all the choices. That being the case, take the time to make a specific list of qualities and characteristics that you’re looking for in your future home and community. By doing this, not only will you streamline the search process, but you’ll cut through the confusion and uncertainty of unknowns to better find your perfect rental.
While it’s usually everyone’s least favorite part of the rental journey, putting in the time and effort to research a new area/community is critical for a renter’s long-term satisfaction. This step in the renter’s journey comes naturally after you’ve already listed out the qualities and characteristics you desire in a future home or community. Overall, having a deeper understanding of the local community enables you to strategically decide on what’s best for you long-term.
Individuals often find themselves making unfounded assumptions regarding what they can or cannot afford when it comes to renting. They tend to either over-estimate or underestimate the costs, one being worse than the other. However, once you add in all the additional costs, including HOA fees (if applicable), utilities, etc., your monthly rent budget may look a bit different than you originally anticipated. For this reason, take the time to break down your monthly finances to the last dollar so as to ensure that you can afford your dream rental before committing to a rental home.
Let’s just say you want to move into a new rental within the next 6 months, plan out and break down the move-out and move-in process as well as your estimated budget. Write up a detailed outline of your rental timeline and moving budget to refer to throughout the moving process. Also, use code “RESIHOME10” for 10 % off your move with Bellhop! By planning out your timeline and budget, and hiring movers in advance, you’ll be able to move forward with confidence to make your dream rental a reality.
Click below for a FREE moving checklist!
For the most part, finding your dream rental can be a lengthy process. With ResiHome, we make finding your dream rental quick and easy! Rental life doesn’t have to be overly complicated or stressful. At Resihome, the rental process is designed to be as simple and convenient as possible. We manage beautiful homes in great neighborhoods across the U.S and provide rentals at an affordable price so that you can find the perfect rental!
When you begin your search for your dream home, be sure to review our online listings for new rentals that suit your many needs. Click below to preview a wide selection of single-family homes and communities that offer brand-new or newly renovated rental homes. These homes feature all the wonderful benefits of a new house without the stress or cost of a long-term commitment.