4 Hidden Costs Triggered by Home Ownership (and Why Renting in California Is a Good Call)
Owning a house is a major accomplishment at any age. Home buyers benefit from a long list of advantages, including the highest level of stability, comfort and the chance to explore the widest range of personalization options (after all, no landlord is going to nag them for driving nails into a wall to hang their favorite artwork). So there you have it: the property that you may actually afford to buy could easily become your personal temple of relaxation.
Identifying 4 Additional Expenses Linked to Home Ownership
On the other hand, it’s no secret that for sale pieces of real estate available in California are usually extremely expensive and bargains on this market are hard to come by. What’s even worse is that most prospects seeking a new roof over their heads often ignore less obvious expenses linked to home ownership. Here are four such examples that you may want to factor in before contracting a loan and attending your first open house.
- Necessary Improvements. As an owner, you want to feel proud every single time you invite a new guest to tour your home. Naturally, in order to feed your vanity, you choose to conduct ample remodeling work and invest in a series of improvements designed to add value to your home, from an aesthetic and functional standpoint. The problem is that even the smallest positive changes cost a lot of money. Even the simplest Pinterest-inspired makeover plans involve the usage of basic materials (paint, brushes, wood, PVC and composite boards and so on), which could easily overbalance your monthly budget.
- Repairs. As a tenant, when your toilet stops working properly, you call the super and let him handle this problem. As an owner, you have to deal with such unpleasant issues on your own. According to MyDomaine, in order to cope with these unpredicted expenses, owners should try to save anywhere from 1% to 3% of the overall value of their property on an annual basis. This measure of precaution would ensure easy access to a fund especially designed to cover damages such as leaky roofs, clogged toilets and defective heaters.
- Maintenance Work. When you rent in California, you can afford to be a little bit lazy or sloppy. You can clean up your apartment each Saturday, right before calling your friends and inviting them over for dinner. On the other side of the coin, ownership dictates new responsibilities and forces you to take maintenance work very seriously. Here’s why: by neglecting the things that you have around the house, such as small appliances, you are basically reducing their lifespan. Just think about it: as a tenant, when you discover that your washer and dryer are no longer working, you just have to contact your landlord and ask him to repair or replace your appliances. When you own a house, you have to pay for repairs or replacements out of your own pocket; this is a drawback that will help you combat your own sloppiness and invest more time, energy and money in regular maintenance.
- Home Decorating. Ownership gives you the perfect excuse to go back to your hoarding habits and spend more than a few dollars on a daily basis on things that you consider necessary around the house. The sad truth that no homeowner likes to hear is that even the most fervent bargain hunters can end up pouring a small fortune into so-called “everyday essentials” ranging from bedding, vintage market finds, kitchen appliances and bathroom decorations. These items may not sound like the most expensive, high-end products on the planet, but the small expenses that they involve can easily add up.
Why Is Renting in California Such a Smart Decision After All?
As you may already imagine, rentals require minimal levels of commitment. Basically, an affordable rental would allow you to keep your expenses in check and avoid additional costs linked to new impulse purchases, home improvement work, upkeep and repairs. Moreover, rentals enable you to build and maintain a beneficial relationship with your landlord, which could save you a lot of trouble in the long run. For instance, you wouldn’t have to fix or replace leaky pipes on your own or buy a new toaster when the old one stops running. Furthermore, renting in California has gotten a whole lot easier, due to the new technology that both landlords and tenants can put to good use to interact with people who are looking for a good deal on the local real estate market.
Discover the List of Benefits Ensured by a Respectable Apartment Finding Service
Apartment finding services give prospects the opportunity to get familiar with average rental prices in different areas of interest. Moreover, the same type of services grants access to a large database containing thousands of verified, recent listings. Using this insight, potential tenants can compare different pieces of real estate in terms of costs, location, amenities and features and make an informed decision. It gets better! Using the same handy helper, landlords and property managers can market their listings in a time and cost-effective fashion. By writing a compelling descriptions and posting up to 12 high-resolution photos (and video tours, if needed), people who are determined to rent out their Californian houses or apartments can get a few steps closer to the perfect tenant. As a platform that incorporates the finest technology to consolidate the bond between thousands of lessors and tenants, Apartment Hunterz is considered one of the most reputable providers of fresh, appealing listings. If you’re also looking forward to renting a budget-friendly property in Cali, instead of hiring a realtor, give this service a try and find out how it could help you sign your rental agreement in less than a week.