Rundle Living

Are you planning to move to Edmonton in Canada? Then, the city you choose to call home will have a highly significant impact on your cost of living, lifestyle, and career. If you want to move to one of the best neighbourhoods in Edmonton, Beverly is the right place to consider. Renting an apartment in Beverly can be the perfect choice if you want extra flexibility and less accountability. It will be the easiest way to maintain your lifestyle without any hassle. Let’s find out the top 7 reasons to rent an apartment in Beverly Edmonton

Why Rent an Apartment in Beverly, Edmonton?

Buying a house involves serious commitment and responsibility. Renting an apartment in these costly housing markets can be an easy way to find the space you need without investing a lot. Moreover, you will not be tied to the property for a long time and will be less accountable for paying taxes and insurance, saving for repairs, and maintaining other costs. Here’s why you should rent an apartment in Beverly:

1. No down payment

The up-front cost is a better financial deal for renters. Usually, renters need to pay a security deposit that is the same as one month’s rent. However, when buying a house with a mortgage, you won’t have to pay a sizable down payment, usually almost 20% of the property’s value. So, those who cannot pay the down payment are better off renting.

2. Avoiding Major Expenses

Owning a place to live is costly. Things like repairs and maintenance can cost you a lot. With rental housing, you will not be responsible for repairs and maintenance.

3. Fixed Rent Amount

Your rent amount is fixed for the duration of the lease contract. Although landlords can increase the amount with notice, you can negotiate as you know the amount you will have to pay.

4. No Property Tax

Property tax can be a major cost. Many provinces in Canada don’t have high property taxes, but the more an apartment is worth, the more it will cost in property tax. With renting, you don’t have to worry about that.

5. Lower Utility Expenses

Apartments can vary in size. And larger apartments are more expensive to heat and can have higher utility bills. Rental apartments usually have an effective and compact floor plan, making them more cost-effective to heat and power than other apartments.

6. Fewer Commitments

If you don’t plan to stay in Beverly for years, renting an apartment is the perfect way to go, as there is no long-term commitment. Renting gives you the independence to choose what you want for the future.

7. Lower Insurance Costs

The renter’s insurance policy is more affordable than a homeowner’s insurance policy and covers almost everything owned, including valuables.

Bottom Lines

Buying an apartment can be profitable for homeowners in the long run. But if you want to avoid the hassles related to homeownership, the costs of maintenance, and property tax, and want a flexible lifestyle, you must consider the aforesaid 7 reasons to rent an apartment in Beverly Edmonton For better rental options, contact Rundle today.