Rent Vs. Buy
Monthly RENT vs Monthly MORTGAGE:
Monthly Rent. People will argue that paying a mortgage is better because when you pay a rent, it’s going “right out the door” and a mortgage is “at least going towards owning the home.” What they don’t realize is, with a SREG community, that rent that is just “going out the door,” is not only covering just your rent, but also your gym membership, pool membership, & total way of life. All of SREG’s new apartment communities are luxury amenity inclusive. This may include:
- 6,000-10,000 square foot Clubhouse
- 24 hr State-of-the-art fitness center
- Business Center
- Resort-styled swimming pool & lounges
- Movie Theater
- Community Garden
- Dog Park
- Fire Pits
- Outdoor Grill Patio
- Sports Bar
- Free wireless Internet
- Juice bars
- Car wash
- Putting greens
It is not just the monthly mortgage you have to pay when you own. You also have to pay for Real Estate taxes, home maintenance, home landscaping, appliance repair, home security, and insurance. These things not only cost you money, but they also cost you time and stress. When you rent from SREG, all of these are also 100% inclusive with your rent. Additionally, when you buy a house, you don’t just pay for the house, there are also closing costs, transaction costs, broker costs, etc.
When people buy a house, they put as much as 30%, 50% or even 70% of their net worth into the investment! When investing, you’re never supposed to put more than 5-10% of your portfolio into a single investment. This makes owning a home a totally irrational decision for most people.
More Cash in your pocket
When you rent, you dont have to make a down payment that uses up most of the cash in your bank account or borrow money from a bank at all. People like having more cash in the bank, without it all tied up in one illiquid investment.
You never know when an opportunity may arise. Whether it’s related to your job, social life, or other opportunities might come up and you have to leave. Renting allows you to always maintain your flexibility with our month to month lease after your term is up.
Less Inflation Risk
Because government calculated inflation uses rents instead of home prices, property taxes often rise faster than inflation, whereas rent usually does not.
Time & Stress
Do you really want to worry about your landscaping every spring, whose going to mow the lawn, if something isn’t working at your home, or shoveling the snow in the winter? When you rent from SREG, all of these worries are taken care of for you in a customer-service oriented fashion.
If you read the headlines of the monthly economic Housing Reports for the last year, you will find that housing-starts in America are coming roaring back. However, if you break down the numbers, you will find that this has had very little to do with single-family homes, and a lot to do with multi-family luxury & amenity-inclusive apartment communities. The tide is turning in the housing industry as a higher demographic, who previously never could have seen themselves renting, are now renting in style, luxury & convenience from communities such as the ones that Schottenstein Real Estate Group develops.