As the world begins to get back to normal after two years of lockdown, many are reassessing their lifestyle choices. Traditionally there’s been a big focus on owning one’s own property as a long-term investment, but as living costs skyrocket and property prices stagnate, a lock-up-and-go lifestyle has begun to look far more appealing for many.
Who knows what the coming years hold? If we’ve learnt anything from Covid, it’s that time is short. So if you’re planning on travelling, emigrating or seeking job opportunities in a new area in the future, you won’t want to be tied down by a house that needs to sell. Furniture can also be a pain to sell or move, so a furnished rental might just be the best way forward for you.
LIVING FOR NOW, NOT FOR LATER
When choosing a house, you have to look at long-term projections for the suburb and whether or not your property’s value will grow as the surrounding area develops positively. However, sometimes your requirements now – whether it’s being in close proximity to work, schools, family or a bustling nightlife – are more important than what will be happening in the area in 10 years’ time.
By renting, you get to live in an area that is convenient for you now, and not have to weigh up what the property markets will look like in a decade. Plus, you’ll have plenty of spare time to enjoy the area you live in because you won’t be bogged down by the many homeownership chores that come with a house.
Renting means you know exactly what your monthly costs are going to be, to the last cent. It’s far easier to budget when there aren’t unexpected costs around the corner. And speaking of unexpected costs, when you’re renting you won’t be responsible for unforeseen maintenance issues such as leaks, plumbing or electrical issues. If you’re renting within a reputable building, your communal areas will be kept neat and tidy, with the ongoing maintenance costs covered by your rent.
When buying a home, you’ll need plenty of financial leverage to ensure that you have enough money to cover the deposit as well as the transfer costs. When renting, you’ll just need enough to cover your deposit (usually one- or two-months’ rent) and you won’t need a huge lump sum to secure the house. In addition, homeowners can stand to lose a lot of money on their investment if property prices within the area fall.
ACCESS TO AMENITIES
Another benefit to renting, especially within a building as well-kitted-out as @Sandton Apartments, is that you have access to a host of amenities. From easy basement parking to top-notch-security, a spa and creche on-site, two beautiful pools, the Co Worx offices and pods, to the retail amenities that will soon be in place on the piazza, as well as the restaurants, bars and Clubhouse within the @Sandton Hotel, you’ll have all the conveniences you need, right on your doorstep.