If you live or work in Bangkok, it is good to know that there are hundreds of properties available that can provide you with a perfect place to live. In fact, this exciting city is filled with properties of all types. If you’re trying to decide whether you should buy or just rent something, you should know that there are pros and cons to each. Before you make up your mind, below are a few advantages of renting instead of buying.
- The Repairs Aren’t Your Responsibility
Perhaps the biggest advantage of leasing instead of buying a home or condo is that the owner is responsible for making repairs, not you. This doesn’t mean that you’ll never be expected to replace a light bulb or purchase a new plate for your electrical outlet but you can expect the bigger repairs to be made by the owner, including repairs of garbage disposals and replacement of appliances, to name a few.
- You Can Sometimes Negotiate the Price
This isn’t always the case, but sometimes the owner isn’t looking to make a huge profit off of the rental, which means that you can save some money on the monthly rent. Not all owners will say “yes” to this request but when you find a great condo for rent in Bangkok and you’re on a budget, you should ask the landlord if there’s any way that you can get some type of discount.
- They Are Perfect for Short-Term Needs
If you aren’t sure which area of the city you’d like to live in, you can lease a place first and allow yourself to become familiar with the city as a whole. If you buy a home, you’ll have to go through the hassle of selling it if you decide later on that you prefer another neighborhood. With a leased property, you can move right away.
- It Is Easier to Qualify for a Lease Than a Mortgage
If your finances aren’t in good shape, it might be easier to qualify for a lease instead of a mortgage. In addition, paying your rent month after month can help improve your credit score so it will likely be easier to qualify for a mortgage loan after you’ve been in your rental for a while. If you don’t qualify for a purchase, you’ll likely still qualify to lease.