Renting a house provides greater flexibility and less financial responsibility for property maintenance.
1. Advantages of renting a property
Among the main factors that may lead to the decision to rent are:
- No large initial investment required;
- In the short term, it is a more affordable financial solution than buying;
- You can apply for rental support (Porta 65 or the Rental Support Program);
- The amount paid for rent is tax deductible.
2. Disadvantages of renting a property
The disadvantages of this option include the following:
- Risk of a lack of rental properties on the market;
- Monthly expense of renting a property that you do not own;
- Any alterations or repairs to the property require prior authorization from the landlord;
3. So, renting might be a safe option for you if:
- Your job and financial situation are unstable, since it gives you more flexibility;
- It's your first home and you don't have the money to buy a property;
- You don't want the costs that come with buying a property (taxes, insurance, maintenance, and repairs).
UrbiSeg Imobiliária will be happy to provide an excellent service to accompany you throughout the process. Contact us!
Source: https://www.cgd.pt/