While homeownership has long been seen as a right of passage for young adults, young people today are choosing to rent more than ever before. Benefits to renting and a variety of other factors are causing this shift in attitude towards homeownership, including:
- Flexibility—Renting offers more freedom, rather than being tied down with a mortgage and home maintenance. Those who choose to rent have the ability to more easily embark on travel, or to relocate for their next job opportunity.
- Downtown Living—Renting opens up the ability to live in trendier—and oftentimes more expensive—areas of town, typically urban areas like the Short North, Downtown, and the Discovery District, that are close to art, entertainment, and culture.
- Maintenance Free Living – Renting eliminates much of the responsibility and expense of routine home maintenance, such as yard work and home repairs as well as the larger costs that accompany home renovations. The free weekends provided by a maintenance-free lifestyle are especially valuable in urban areas such as the Short North and Downtown Columbus, where residents can take full advantage of being close to the action.
- Amenities—Rental properties often offer modern amenities that make life more enjoyable and easier. Rooftop patios and decks offer skyline views with a space to gather with friends and families, while mixed use developments provide an urban living experience with restaurants, bars and shops just steps away.
- Sense of Community—The modern amenities offered at many rental properties, including fitness centers, pools, and entertainment, not only make life more enjoyable but provide a sense of community by encouraging socialization.
For those renters who still have an eye towards home ownership in the future, Borror recently began offering the Rhove tenant rewards program. Residents at participating Borror properties are eligible to receive a dollar-for-dollar match from Borror, up to 2.5% of their rent value. While the program is being first offered to those properties in the Short North portfolio of properties, it will be expanding to Downtown and the Discovery District soon. Contact us today for a life better lived.