There’s a lot of discussion out there about the pros and cons of renting, the debate over renting and buying, and what it’s like to really rent a house or property in Perth. Let’s get down to the basics, wade through the myths and talk about the real benefits of renting – and why it’s the ideal time to rent a property in Western Australia.
Figures from the Real Estate Institute of Western Australia (REIWA) show that Perth currently has a record number of rental properties on the market, which has lead to a significant price drop for renters. That means that you may be able to rent a home in an area that was previously unattainable financially, or find a home in your current area at a lower weekly price than you are currently paying. It’s the perfect time for renters.
Want to know some of the other major benefits of renting as opposed to buying a home? Look no further.
You know exactly what you’ll be paying
When you sign a lease to rent a home, the costs are all laid out on the table for you. You know exactly how much bond and rent you’ll be paying for the home, with no hidden surprises. When you buy your own home, there’s not only a larger investment, but interest rates go up and down, and so do fees along the way. Renting is a far more financially secure choice for those who need to know exactly what they’ll be paying.
No maintenance or repairs costs
In most circumstances, your landlord or real estate agent will take care of any repairs or maintenance that needs to be done on a rental. Because it isn’t your home, the landlord is responsible for all the costs when it comes to repairing something that has occurred beyond your control – for example, a leaking roof, issues with the plumbing, or damage from a weather event. Homeowners don’t have that luxury; the responsibility is firmly in their hands.
Flexibility to downsize or upsize
Renting isn’t a permanent situation unless you want it to be. The flexibility of short of medium term leases means that if you need more space for a growing family, or if you want to downsize later down the track, it isn’t too difficult to do so. Or, if you want to move to a different area, need to move closer to work, or simply want to try somewhere different – there’s nothing stopping you from moving at the end of the lease. Moving out of a rental is much easier than selling a home and purchasing a new property.
At ACTON, we are experts on the rental market and enjoy matching clients with their ideal rental properties. ACTON’s Perth property professionals have a wealth of experience, passion and a dedication to customer service. Get in touch with a member of our friendly team today to start the journey towards finding your ideal rental – or to chat about your needs in your current rental.