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2017-07-17 16:38:06
4 Reasons to Lose Your Lease

There comes a time in most people’s life when renting their first apartment is a fun and exciting

milestone. After several years of renting, you may find the shine has worn off the love of your lease.

There may be several factors that weigh in on your decision to move on to a new location. Let’s take a

look at four major reasons you may be ready to lose your lease.

1. Life is changing - You may not be in the same life situation you were when you first signed your

lease to move into your apartment. The thought of living with 3 of your best friends, sharing a

room and bathroom may have lost its appeal as one or more of you coupled up over the past

few years. You may have gotten married or even started a family and renewing a lease for a

space with no potential for expansion may not be your best bet. Keep in mind that even if your

family expands those four walls will not.

2. Landlord issues - One of the perks of renting is having someone else responsible for the

maintenance and repair work around your home. That advantage may have diminished if you

are working with a difficult landlord. If your concerns are not being met in a timely manner or

even worse ignored completely it may be time to look for a new living situation. A landlord that

refuses to fix things around the house means that you either learn to live with the issue or fix it

yourself. Typically repairing things, yourself incurs expense and your time. If you are able and

willing to do these repairs on your own you may want to think about buying your own place.

3. Raising rent – With the housing market in its current status the availability of quality housing

options is becoming harder to find. What does that mean for rent? When more people are

trying to get into fewer homes landlords can charge premium rents for less than premium places

due to the supply and demand. This means that when it comes time to renew your lease your

landlord may be considering charging more for the same space. If you look and see that similar

rentals in your area are going for more than your current rental rate be sure that your lease

renewal may come with an increased price tag. Paying more without getting more doesn’t tend

to sit well with most renters.

4. Buying a home is easier than you think – There are many options available assisting people to

get into their first home. In Utah especially, there are several options available for first time

home buyers to get assistance with their down payments. The best way to know what your

home buying options really are is to find a professional loan officer and have them review your

financial situation. They also will know all the programs available to you as a first-time home

buyer. Getting into a home of your own may cost you the same or even less as what you are

paying in rent, but will build equity for your future. To see what your rent vs buying situation

may be click here.

So, whether you are looking for more space to rent, or you are ready to take the first step towards

building a financially fit future by buying a home, take a look at all the factors that may affect your

decision. Just staying put because “it’s easier than moving” may cost you more than just money.

Blog Archive
2017-09-29 11:41:53
4 Reasons Not To Renew Your Lease

2017-07-17 16:51:01
3 Things Your Lender Wishes You Knew

2017-07-17 16:43:55
Three Things to Know Before You Buy a Home

2017-07-17 16:38:06
4 Reasons to Lose Your Lease

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