A new home.
A place to dream, a place to love, a place to discover…
A big decision.
One of the first decisions to make when it comes to finding a new home is whether to rent or buy. Buying a home is one of the biggest financial commitments one will make in their life, and it’s a decision that needs to be made carefully. On the other hand, renting offers more freedom and flexibility without the financial commitments.
Let us help you break down the benefits of renting.
First, costs are predictable.
Take a look at the average maintenance costs associated with home ownership and remember, most of these are included in your rent!
Suffering from sticker shock?
Next, consider your lifestyle.
Are you ready and willing to devote your free time to the upkeep and maintenance of your home? Additionally, are you ready to commit to your current location? Owning a home means more responsibility and less freedom and flexibility than renting, in all stages of life. For empty-nesters enjoying retirement, this means less hassle should health or mobility needs change.
StuartCo Portfolio Director Joe Videle recently freed up his weekends by electing to rent after years of home ownership. After owning three houses, he’s vowed to never own again.
“Every Saturday, I was at Home Depot buying materials for repairs, replacements, or just maintenance. When I was younger, I rented because I had to. After 25 years of home ownership, I’m now renting because I want to. My motivation is the time and cost involved in owning a home.
I pay more in rent than my mortgage payment, but I don’t pay more in rent than my mortgage payment plus all the maintenance costs. When I add up those two, I’m coming out ahead financially.”
There’s a lot of grey area. Your individual life situation and factors are in play, and even with all of the concrete facts and figures written out in front of you, at the end of the day, it is your decision to make.
In our StuartCo communities, we have many residents who sold their homes in favor of a rental lifestyle. We asked a few of them why they made the choice to become renters.
“Prior to renting, I had owned my home in Bloomington for over 20 years. The winter responsibilities of owning a home (snow blowing, worrying about icy sidewalks and driveways, ice dams on the roof, trying to keep cars clean and warm, etc.) really had me looking into the rent vs. own decision.
After renting for a while now, I have also enjoyed the freedom to travel without having to care for a home, and having on-site maintenance that quickly addresses problems as they arise.”
– Matt, Genesee resident
“I have lived here for five months. I came from owning my own home and living in the country. I have been pleasantly surprised all around. The staff is friendly and available, and maintenance is extremely fast and knowledgeable. The apartment is nice and the area is convenient, especially since the new shopping area was built. The underground parking is awesome.
– Mary, Woodridge resident
“After years of home ownership, I wanted to finally build our dream home. But my wife had other ideas: She wanted to move into a very nice luxury apartment and enjoy a more carefree lifestyle without the hassles and responsibilities of ownership, allowing us more freedom for job focus, travel, and family fun.
I finally agreed to try apartment living for a year. And we selected The View at Long Lake. After just three weeks, I said ‘I’m never leaving this place!’
After over three years, we still feel like we’re at a nice resort/spa without having to live out of a suitcase. The professional staff at The View is over the top in so many ways.
We really couldn’t ask for more and plan to continue enjoying this carefree lifestyle for years to come!”
– Eldon, The View at Long Lake resident
When you rent with StuartCo, it truly is Your Home. Our Commitment. We manage your home so you can enjoy your life!