Owning a home in Phuket is perhaps one of the lifelong goals that many local residents would like to achieve before their sunset years. That’s because homeownership is stress-free. No more knocks on your door from your (irritating) landlord. But buying an apartment, particularly when the economy is poor, can prove daunting a task. So as opposed to buying, rent instead. Renting apartments in Phuket is financially advantageous. In fact, you stand to save a lot by renting.

Reasons Why Renters Have the Better Financial Deal over Homeowners

First off, when you rent an apartment in Phuket, you will have no maintenance costs or repair bills coming your way. Repairing costs, depending on the extent of damage incurred, can be too expensive an expense. And expenses are a baggage. So renters of apartments in Phuket have a definite advantage over homeowners. Being a renter, you are automatically shielded from the costly responsibility of renovating, maintaining, and repairing the apartment if damage occurs.

Another financial benefit of renting apartments in Phuket is the easy access to amenities. You will have the advantage of accessing fitness centers or in-ground swimming pools for no extra costs from your landlord, especially if you are a renter of a mid-scale or upscale apartment in the small of Phuket. Owning such luxuries in your apartment, as a homeowner, is quite expensive. It would cost you thousands of dollars just to install and maintain them. So renting is convenient.

In addition, renters of apartments in Phuket do not need to pay real estate taxes. It is not in their place to do so. Only homeowners get to deal with such a hefty burden. Real estate taxes are a (great) financial burden, ask your landlord. Taxes costs vary depending on the location or county. Also, tax calculations are estimated according to the property value of your house. So if you own a home that sits in a palatial estate, rest assured you will pay higher real estate taxes.

Additional Benefits of Renting Than Buying

Renters of apartments in Phuket also have a better financial deal over homeowners when it comes to signing. They simply do not need to save huge amounts of down payment in order to move in a rental apartment. So there is no big down payment for renters of apartments. If you are to compare it with buying a house, renting costs are less than those of buying a home in the small of Phuket. Only a rental deposit is required from a renter. That is simply all.

In a nutshell, it is more (financially) prudent to rent an apartment in Phuket than to own a house. Homeowners have a lot to deal with, from real estate taxes (which are compulsory) to costly renovations, repairs, and maintenance. Renting apartments in Phuket is, therefore, cheaper. See our long-term rentals at https://www.Patong-Thailand.com