In our current financial climate, renting is a perfect opportunity for people, especially young people, to have freedom and autonomy with housing. If someone chooses to eventually buy a property, they can go forward with an understanding of the commitment. They will have first experienced the renting benefits of the market and can make an informed decision.
Renting offers freedom
Buying a house not only locks up your savings; it also locks you, the owner, into a specific geographic location. For millennials, having the opportunity to rent in an area is advantageous. Renting benefits include freedom and flexibility in a geographic location. If offered a job in another city, or even another part of the same city, someone can take advantage of the opportunity without worrying about losing the investment and liability that a more permanent house is.
Renting allows familiarization
If someone moves to a new city, renting is a great decision. In order to truly be familiar with an area, you have to spend time living in and experiencing a neighborhood. Each city has its individual culture, and in order for people to know if it’s a right fit, it would be wise to first rent in the area before buying. You don’t truly know an area before you live there. Renting allows people to truly understand what a neighborhood is like, and to make an informed decision.
Renting in Pittsburgh
Pittsburgh is the perfect case study for the all the renting benefits available in the present market. Because of the sturdy infrastructure in place since the industrial age, as well as the geographic location, there is plenty of affordable space ready for someone to take advantage of it. Overall, Pittsburgh is a very affordable city, and offers a great deal of opportunity, particularly in real estate.