Renting can be a great option, for many reasons, when relocating to an area for a short period of time. If you are relocating to an area for under 5 years, renting offers a greater range of options for where you can live.
Rent can be cheaper than a house payment in areas where the local amenities are better. Buying a house in an area with the amenities you want close by can be expensive, renting gives you more options to live closer to the amenities that you enjoy at a lower cost than owning.
If you do not have a lot of savings and need to relocate quickly not having to put down a 20% downpayment is beneficial. Most rentals only require first and last months rent. Following your lease, and taking good care of your house or apartment can mean that you get the deposit back at the end of your rental agreement.
If you are not staying long term in your new area, it might be beneficial to look for a reputable read- to-rent company to find your new temporary home.
Ready-to-Rent Program
A ready-to-rent program is one in which properties are purchased and renovated by a real estate investor or, sometimes, several investors working together. Rather than turning around and selling these properties after renovation though, the investor or investor group maintains the properties as rentals. Usually, these programs will include multiple properties in multiple locations, thus offering their clients a variety of housing price points and communities to choose from. Akin Developers has created such a program, offering both long-term and short-term options with a group of affordable, clean, safe properties in the Silver Spring, MD area.
The Daniel’s Family Situation
Josephine Daniels is a 27 year old Human Resource Manager with a local hotel chain. She is married with a young child living in Orange County, California. Recently her company is looking to open several new hotels in the Silver Springs, Maryland area and they want Jospehine to relocate with her family. Josephine has worked with her company for 7 years and the company paid for her to finish her degree.She has just received her Master’s in Human Resource Management and the company wants her to help train and set up the Human resource departments in the new hotels.
Finding the Right Home
Josephine and her husband started looking at housing in the area. Having a young child, they needed an area with good parks, schools and recreational activities for their family. They looked in the area close to where she would be working and found several communities that had everything they wanted in amenities. When they started looking at houses to buy in the communities they quickly found that they just didn’t have what they needed to purchase.The downpayments were all more than they could afford.
After some research and considering the time they would be in the area, they decided to check out rentals instead. They made a “wishlist” of items they wanted in a temporary home that would accommodate their families needs. They listed number of bedrooms, bathrooms, yard, distance to work and local amenities near by for the family to enjoy. Schools in the area were also a big consideration. Josephine and her husband had read about Akin Developers online and their ready-to-rent program. They set up a face to face meeting. They were able to narrow down the communities that offered everything Jospehine and her family had on their “wishlist” and stayed in their price range.
After viewing several properties on a virtual walkthough, they were able to narrow down their search. We set up an in person walkthrough for two properties and they were able to look at and decide which property worked best for their needs.
The family was able to set their moving date and prepare to move into their new home. Akin Developers helped them contact a reputable moving company and get their journey started. Akin also helped supply the family with local utility information, such as the electric company, trash pick up and others that they would need to get settled quickly.
Josephine was able to call and get everything they needed setup before their move in date thanks to the information Akin Developer supplied.
Akin Developers Can Help You Too
When you are relocating whether it be temporarily for work or family, choosing between renting or buying is a very personal decision. You need the right information and help for you and your family.
Josephine and her husband knew they were only going to be in the Silver Springs area for a short amount time. For their family renting made more sense than buying. They were able to rent in an area with everything they needed thanks to the help they received from Akin Developers.
If you find yourself in a position similar to Josephine and her family, facing relocation to an unfamiliar area for a relatively short period of time, a ready-to-rent program may offer the best solution for you, too. In the Silver Springs, MD area, contact Akin Developers for virtual and live tours of our ready-to-rent properties. We are ready to help you too.
