Why Renting Is The Best Bet For Your Budget
Many people strive to be homeowners at some point in their lives. However, with affordability, loans and the percentage repayments, levies, maintenance, and much more admin, work, and money attached to buying a house, it is often not that many people who are capable or can afford to buy a house
Many people strive to be homeowners at some point in their lives. However, with affordability, loans and the percentage repayments, levies, maintenance, and much more admin, work, and money attached to buying a house, it is often not that many people who are capable or can afford to buy a house. Luckily, besides offering a cheaper way out, renting also helps alleviate the pressure of deciding on a permanent residency. In this article, we will take a look at renting and its conveniences, how you structure your budget if you are looking to move into a new home (whether temporarily or permanently), and the affordable options you may have in the city of Johannesburg.
Property renting is defined in simple terms as a property being occupied by someone other than the owner, for which the tenant pays a periodic mutually agreed rent to the owner or rental agency. One of the most expensive purchases we make in life is the purchase of a home. The affordability is so difficult that many people rely on bonds. But if you do not qualify for a bond and do not have the cash to buy a house, you may be able to take out several thousand rands for renting. Renting is a much more convenient living arrangement due to the benefits it offers and the potential problems it solves. Let’s take a look at some of them:
- Security: When you are renting, you do not have to worry about finding your own armed response or security company that will guard your house. While with houses, you will need to either join the community or suburb’s preferred security company, as some companies only offer their services if a certain number of residents have signed up. With renting, your security is already attached to your building, so you are sorted.
- Renting instantly improves your standard of living: You can live a lifestyle as a renter that you couldn't afford as a homeowner in many cities because renting a home is often far cheaper than buying one. As a resident, you may be able to live near your place of employment or study, or in a part of town you previously believed was out of your price range. Consider whether living somewhere you love for maybe less money is more important than having your name on the title.
- Maintenance worries? Not anymore: Your rental home will be substantially more inexpensive with someone else as the owner, as you won't be responsible for maintenance and major repairs. Major repairs that may be necessary, such as those to the roof, gutters, waterproofing, and trees, will all be handled by someone else while you enjoy the benefits.
- Free building amenities: The other lovely part about renting your home is that you get access to amenities such as washing lines and/or a laundry room, a playground, lawn, braai area, parking spot(s), and in some areas, even a pool. Things you would probably get charged an additional amount for when buying a home.
- Renting is a great budget stabiliser: When you rent, you know how much you will need to pay for a period of time, with a year being the standard. This means for a minimum of 12 months, you can control your budget and make beneficial financial decisions, such as saving to buy a permanent home or possibly a car. Who knows? Maybe even a holiday or giving your home a new decor look and feel. The world is your oyster.
Now, Where To Rent?
If you are reading this, then you are probably considering living in a place that is close to all the places and things you will need on a daily basis; transport to and from work or school or wherever really, grocery stores, restaurants, potentially close to where you work or study seems to be a massive advantage on most people, the list goes on. You are looking for somewhere you’ll be able to access these things. Johannesburg Housing Company has affordable flats in and around Joburg city centre, from Newtown to Jeppestown, Hillbrow to Cosmo City, and more, to ensure that many Gauteng residents find it easy to navigate the city without having to wake up in the wee hours of the morning.
While renting solves your logistics problems, JHC solves your affordability problems. JHC flats in Johannesburg CBD to rent are ideal as they correspond with the list we made earlier about the benefits of renting. Our buildings have security and parking lots, with some having communal amenities such as parks and gardens, playgrounds, braai areas, and washing lines. And when it comes to stabilising your budget, we have kept our rentals consistent too for a few years, helping our residents budget better. We pride ourselves in giving Johannesburg residents convenience, affordability, and access, but because we are community-driven, we cannot do it alone. Follow our Instagram account and our Facebook account to not only keep up to date on rentals but also to reach us when you need us because we’d love for you to live where you’ll love.