Five Reasons to Consider Leasing Right Now
Being lovers of home here at Catalina West, we get it! Owning a home is a wonderful milestone in life and a desire for many. However, home is about comfort and the vision you have for your life, therefore home-ownership may not be the best avenue for everyone. Considering current Coronavirus challenges, the decision to lease or buy is a little more complicated these days and we think it warrants a closer look at the benefits of leasing. Fortunately, there are many options for those trying to live their best life, even in troublesome times.
1. Leasing Offers Convenience
One of the best perks to leasing is no maintenance! When you lease, the property owner is responsible for all upkeep, improvements, and repairs. That means you don’t acquire maintenance bills or costly unexpected home repairs. A malfunctioning appliance or water leak is no worry to you and it’s just a phone call away from being fixed. There’s also no “yard work” required, only what you want to curate in your patio pottery. Simply put, it’s the simple life! There are less worries and responsibilities living in an apartment home—something you can surely appreciate right now.
2. Leasing Provides Added Comforts
Without house projects, you can spend your weekends enjoying the comforts of the apartment life—the amenities! “What amenities are included?” is a frequently asked question, and for good reason. Amenities add quality to your lifestyle and access to luxuries that may otherwise be a large expense to you. For instance, at Catalina West, a resort-style in-ground pool, grilling stations, and fire tables are available for residents to use freely without charge. And the fitness center is equipped with state-of-the-art exercise equipment, such as Pelton© bikes. If you wanted to match these amenities as a home-owner, it would likely cost thousands of dollars for installation, maintenance, or monthly memberships.
3. Leasing Allows More Flexibility
As the Coronavirus outbreak continues to affect personal and professional lives, you may be experiencing hard times and understandably rethinking large investments. Perhaps you are single, in a young relationship, or in a transitional period of your career that makes a temporary living situation more ideal. Or maybe you are retired and looking to downsize to give yourself more time and funds for working on your bucket list. Fortunately, in times like these, leasing an apartment home gives you the flexibility to live by your own preferences without as many financial demands or long term commitments. Catalina West also offers month-to-month leases, transfers from one apartment lease to another, and other short-term leasing options. Options are available for every life stage or choice!
4. Leasing Requires Less Upfront Costs
Another huge benefit to leasing an apartment home is lower upfront costs! Leasing an apartment home does require a security deposit, plus any coordinating pet fees. However, these costs are substantially less than a 20% down payment on a house and sometimes, pending the condition of your apartment, you may even get your deposit back upon move-out. As for relocation costs, many apartment communities partner with moving companies to give you better prices there, too. At Catalina West, your apartment also comes furnished with most kitchen appliances and appliance leasing is available. This lets you focus on settling in rather than purchasing an expensive washer and dryer.
5. Leasing Means Better Budgeting
Perhaps the best perk to apartment living is the budgeting! Your monthly rent is the same amount for the duration of your lease, so you know exactly what living expenses to expect each month. This allows you to keep your budget in check and your rainy day fund in good health! When you lease an apartment home, you don’t have to worry about increases from a landlord or varying housing market fluctuations, like real estate taxes. This potentially saves you thousands each year. Plus, with a more compact and efficient living space, you can bank on lower utility bills and insurance costs. Renter’s insurance is very affordable ranging from approximately $12 – $20 a month and it covers nearly everything you own, including furniture, computers, and valuables. With the economy and life circumstances being as varied as they have been, leasing an apartment isn’t “throwing away money”, it is surviving!
Discover Your Leasing Options
Ultimately, the decision to lease or buy is not just financial. It’s emotional, especially during uncertain times. With all your options considered, we believe you should do what you feel is right for your lifestyle. If you are looking to move soon, let us introduce you to the comforts and luxuries of Catalina West—where you may have less house but more HOME!
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