Renting is the cheaper option for most people nowadays, but it's not always the most flexible one. When you own your place, you can do whatever you want with it, whenever you want to. Size may also be a big issue with rentals, as you're forced to be extra resourceful in using your limited space. Here we list some issues you may find with renting. If you can't live with them, then maybe it is time to reconsider your options and start looking at Burnaby's real estate options.
Reasons why you may want to Buy Instead of Rent
You can't customize your space
You're on a lease, which means that your space is technically not your own. You're just borrowing it on a contract basis, and aren't allowed to paint the walls or renovate the place without the consent of your landlord. You could put up decorations, but you'll have to make sure that they can easily be removed.
Space is limited
If you're renting a place, chances are that it's a part of a larger complex of buildings. This means that room is limited, and there's not enough internal storage space. You may face problems with overcrowding, especially if there are a lot of people living with you.
Furnishings are older
Most likely, your rented space has been lived in before. Nothing is really new, although things have hopefully been well-maintained. Utilities like bathrooms, lights, kitchen and furnishings are older, and might not function as well as you would have hoped.
Mail is difficult
You'll have a mailbox, but it might be a tiny one, so your box will fill up quickly. Or in other cases, your mail could easily get damaged and bent out of shape. If you have a shared mail area, even packages go to a central area. This increases the chances for stolen/misplaced mail.
Lack of privacy
You're living in a complex with other people you don't know. If you're lucky, your neighbors are courteous and respectful. However, there's always gonna be a lack of privacy. Walls may be too thin, and outdoor noise levels will bother you.
If you would like to have a look at the current options in Burnaby real estate, please contact us for additional information on any of our listings or to discuss what you are looking for. We'd be gald to help!