Benefits of Renting Property as a Freelancer
The real estate market is a booming market that is attracted the attention of many investors because they are many potential opportunities here for everyone. As a freelancer you are dealing with many things and real estate and rental properties can be a great source of secondary income that can venture into as you also focus on your freelancing career.You however, need to sit down and evaluate the case of owning the properties or having rental properties because there are many things you should consider before venturing.
One thing you will have to deal with when you invest in real estate is that you will have limited freedom. For you to invest in real estate, you have to get a lot of money from lenders the worst thing is that every month you will have to be paying them for the next 30 years mortgage meaning that enjoying what you are planning becomes a nightmare. You will also be limited when you want to locate your company or family to another state or location without having to undertake the selling process of your properties. Only properties is actually because you will always be chipping out money for repairs and maintenance and other additional costs that come along ownership properties before you can rent them.
Renting properties, however, is a freelancer is different especially when it comes to freedom of movement. As you may learn, freelancing offers you a lot of freedom to enjoy life and work from in location you want to and that is why renting properties gives you the flexibility to move around event relocating to another country.This also the flexibility to on the rental properties in the long run especially if you come to an agreement with the owner to be occasionally paying until you come to the point of owning the properties. You also have the freedom to customize the rental property especially by setting aside an office which can occupy 25% of the space.
One disadvantage of investing in real estate is that you pay taxes and insurance directly which is very expensive in the long run.Renting properties, on the other hand, is not that expensive because you don’t have to pay the taxes and insurance directly and therefore safeguarding you from such responsibilities. Renting properties is also beneficial because this low-maintenance cost to incur. Rental properties offer you financial stability therefore especially knowing that you don’t have to deal with the lenders and mortgage every month.
You will also enjoy additional amenities in the rental properties that you don’t have to pay acquiring to benefit from such as a playground, swimming pool and much more. If you want to know more about rental properties over investing in real estate, there is more info you can engage on the Internet if you choose to read.