Advantages of Renting Space as a Freelancer
One thing that is for sure is that real estate market is a very potential market to invest in especially because of the potential opportunities that are here. Being a freelancer is a great thing that investing in real estate and rental properties can be a secondary source of income for you as you also focus on other projects you may have. 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 example, you will not have the freedom to enjoy the money you on through the real estate because you have a mortgage to pay to the lenders every month and therefore limiting your freedom. Also, relocating becomes hard for you because on the properties in a specific location as well as taking vacations becoming very hard for you. 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 a freelancer, you need a lot of flexibility because of your work which is a lot of fun and therefore you can move to another state or another location without being inconvenienced when working in this is the beauty of renting properties. Rental properties are also beneficial in knowing because you can come to an agreement with the owner to pay for the properties slowly until you on the corner or the rental apartment and this is a flexibility that you cannot find in investing in real estate. 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. Renting will always offer you financial stability because you don’t have to deal with many costs but also you avoid the issue of foreclosure and the mortgages every month.
There is more to discover about renting properties such as enjoying additional amenities that you didn’t invest in such as swimming pool, playground and so on. 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.