To rent or to own? That is the question, but what’s the answer? That’s going to depend on your personal circumstances, your finances and your needs.
The benefits of a Landlord
For some, renting is the best solution with no long term commitment, the Landlord looks after repairs and maintenance and if the roof needs replacing, it doesn’t cost the tenant a penny. There’s also no property taxes or homeowner insurance to pay for. For women with busy lives or limited budgets, sometimes it’s nice to have someone else worry about these things so you can focus on more important things.
The benefits of investing in real estate
For others, owning makes the most sense. It’s an investment, it’s security – no one can make you move if you don’t want to and it’s a place to put down roots for your family. With interest rates at near records lows and prices still within reach, owning in Nanaimo can be fairly easy. Don’t forget though, home ownership can also mean yard work and home repairs (and for some, maybe you’d rather be getting your nails done or taking the kids to the park). Then there’s property taxes, insurance and water bills. All things to factor in when making your decision. If the independence of ownership is your ultimate goal, call an experienced Realtor ® at RE/MAX of Nanaimo for help.
The decision to rent or own can sometimes come down to what’s available. Rentals are quite tight right now in Nanaimo, so if you’re looking for a new home and have the ability to buy, it’s definitely a good time to consider making that commitment. On the other hand, if you don’t want to buy until you find your perfect home, renting may be the solution since it’s usually easy to end a tenancy with proper written notice to your landlord, once you find your dream home. Finances and budgets are a large factor in reaching this important decision as well.
Ladies, is it better to rent or own?
Nanaimo is seeing a steady flow of new residents with a lot of people relocating here from out of province. For many, the decision to rent is an easy one while getting to know the area, deciding which neighborhoods they might like to live in, or even just figuring out if they like the “island life” at all. Is it important to be near schools or shopping, downtown or the hospital? Renting gives the flexibility to get to know the community before making the largest financial commitment of your life.
We can help with your search. Our team of experienced REALTORS® is here to help if you’re a woman looking to buy. Call the Charlie Parker Team today at (250) 751-1223
If you are looking to rent for now, speak to our Property Management Department. We can answer all of your questions and help you on the road to your new home. Call RE/MAX of Nanaimo and ask for the Rental Department at (250) 751-1223