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When searching for a place to live, choosing between renting and buying is one of the most important decisions you’ll need to make. Although the prospect of buying your own place is a goal for many people, there are many advantages to renting. To understand why it’s worthwhile looking for homes and apartments for rent, consider the following.

Why Should You Rent?

1. Lower Initial Costs

Although you’ll have to put down a security deposit, it’s significantly smaller than the down payment required for buying with a mortgage. Although it varies, security deposits are usually worth one month of rent; however, down payments are about 20% of the total purchase price. Then, there’s also the closing costs, which cover things like property taxes, a home inspection, and other local fees. These can range between 2% to 5% of the purchase price, and recouping the costs can take years.

2. Free from Repairs

apartments for rentWhen you own your home, you’re responsible for any and all repairs that must be done. Depending on the state of the property, this can get expensive quickly, especially if you don’t anticipate it from the beginning. With homes or apartments for rent, the landlord is the one who must tackle the leaky faucet, cracking drywall, or a broken heater.

3. Greater Availability

Finally, rentals give you a better chance of finding a place in numerous locations. For example, buying property in the city is often pricey, especially compared to the available homes and apartments for rents in the same area. If you have your heart set on a particular neighborhood downtown, renting will broaden your options.

 

If you’re looking for homes or apartments for rent, contact Munson Realty, Inc. in La Crosse, WI. This full-service property management company has served the region for more than 30 years. You can see which properties they have available for rent on their website, but if you have any questions, don’t hesitate to call them at (608) 785-7187.

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