In this article, we'll explore the benefits of renting a home in Santa Monica instead of buying. For starters, in many situations it’s not as expensive to rent – especially if you plan on staying in your Santa Monica home for less than five years. Secondly, when you rent you don’t need to worry about maintenance or renovations. Finally, renters have more flexibility when it comes to their living situation. They can easily move from one rental unit to another without having any major consequences. In this post, we'll go over all these points that make renting an attractive option for homeowners!
According to ZIllow.com, the average price of a home in Santa Monica is $1,840,903. That’s $8,000 + per month in a mortgage, property taxes, and more. Plus, you have to factor in home maintenance costs. Compared to the average cost to rent a Santa Monica apartment, which is only $2,695* per month, the cost of owning a home in Santa Monica quickly adds up.
MAINTENANCE AND RENOVATIONS
Another reason why you should rent rather than buy a property has to do with maintenance and renovations. All homeowners know that there will be repairs along the way – but renters don’t have to worry about them! If the property needs a new roof, painting, or some other type of repair – the landlord will take care of it. This is one less thing that you have to worry about as a renter.
One of the best things about renting is how flexible it can be. For example, if you’re suddenly transferred to a new city or your job requires you to move often, renting gives you the freedom to do so without any major consequences. You can easily find another rental unit in your desired area and get moved in within a few weeks. Contrast this with buying a home, which can take months (or even years)
Renting a property is also very convenient. You don’t have to worry about finding a real estate agent, touring different homes, or filling out mountains of paperwork. The leasing agent will take care of all that for you. All you have to do is sign some papers and pay the rent each month.
Renting a property in Santa Monica has many benefits that are worth exploring. It's not as expensive to rent, you don't have any worries about maintenance or renovations because you're renting the home, and renters tend to be more flexible when it comes to their living situation. If this sounds like something that might appeal to you, contact NMS 1539 Fourth Santa Monica Apartments for all your luxury Santa Monica apartment needs. We will help make sure your rental experience is hassle-free and enjoyable.
*Pricing and availability subject to change.