According to a recent Washington Post article, more millennials and baby boomers and choosing to rent. Whereas the typical trend was to rent for a while, and then purchase a home, times are changing. Now, the number of renters in major cities is growing quickly. But why?
Why More People Are Choosing to Rent
There are many reasons why someone might rent over own, but the Washington Post cites mobility, convenience, and community among the top incentives. These draws appeal to Houston residents as well. Houstonians are looking for housing options that match their needs — and often, the solution is renting.
1. Proximity to Work, Food, and Fun
With several highways under construction and daily accidents, Houstonians are tired of long commutes. Renting an apartment near your place of work means more time doing what you love and less time in the car.
The convenience of being close to fun activities is a great reason to rent. Houston has a desirable food scene, and having to drive 45 minutes to get there is not an option. Owning a house in the suburbs means long commutes to your favorite bar on the weekend, but renting in the city gives the freedom of being close to everything you frequent.
2. Fewer Maintenance Responsibilities
According to the Washington Post, there has been a growing trend of “residents [choosing to rent] over homeownership for the sake of convenience.” One of the best perks of renting is not having to deal with the inconvenience of general maintenance and upkeep that a home needs.
If something breaks or begins to leak, you pick up the phone and call maintenance. When the A/C is broken in the middle of Houston summer, you don’t have to quote eight different HVAC service companies — you just need to call your landlord. These perks are making renters think twice about owning and single-handedly dealing with all of these issues.
3. Sense of Community
Being involved in your community means more impactful experiences with those around you. The Houston Heights area, for example, is popular because of its community amenities like walkability, events, and locally owned restaurants.
Rental communities also mean shared pool spaces where people can easily meet. Having a community helps build a social network. In fact, more apartment complexes are designed in a way that allows people to come together.
More people are leaving 30-year mortgages behind and paying rent instead. In 2016, 43% of Houstonians owned while 41% rented. Meanwhile, the national rate of ownership is 63%. Many Houston residents are already choosing to rent because of location, community, and other advantages.
Moving Into an Apartment?
If you’re moving into an apartment or rental house, make things easier on yourself. Schedule a call with us and learn about our stress-free guarantee. We know a thing or two about moving, and we’ll be happy to make your next move worry-free.