7 Reasons Why You Should Rent A Home Before You Consider Buying

However, not everyone is ready for the long-term commitment of owning a home. For some, finances may be the main roadblock. Others may procrastinate because they have not yet made up their minds.

If you are still on the fence about whether you should buy a home, it may be a good idea to try renting the place to get a feel for it. Just spending a few months in the home could potentially help you make up your mind.

When you buy a house that isn't built yet, you can only imagine what you're getting from the brochures and if you're lucky, a showhouse. However, renting allows you to stay in the house and experience it firsthand before deciding whether to buy it or not.

You won't know some things about a home until you've stayed in it long enough. After some time, you'll be able to tell whether the home was built with good workmanship. Renting gives you the time to properly make sure every aspect of the home meets your expectations.

When you rent a home, you have the flexibility to choose a place that is perfect for you, whether it is a high-rise or landed home. Renting also allows you to explore options that are near to work, near an LRT station, or near your parents' place. Plus, if you decide that the place is not for you, you can easily move out at any time.

The great thing about renting, especially if you stay in a condo, is that you get to make full use of amenities like the swimming pool, gym, and more without having to fork out more cash.

One of the major concerns is having to stay in a place with bad neighbours. While you rent, you get time to "test" your neighbours and find out more about them. You'll also have the opportunity to familiarise yourself with the surrounding neighbourhood.

According to a Malaysian home survey, 23% of Malaysians found it difficult to afford the downpayment for a new home. With costs of living on the rise, many Malaysians just do not have the capacity to buy a home.

When you're renting, it's the best time to save! All you have to worry about is paying your monthly rental and utility bills on time. Ultimately, renting gives you more time to work your way towards that first downpayment.

Despite the conveniences renting provides, one of the biggest challenges is that your rental costs usually become sunk costs. This means that after renting a place for two years, all your rental costs will not contribute towards your new home.

Stay2Own is a home ownership programme by EcoWorld that allows Malaysians to rent an EcoWorld property, with the option of purchasing it within five years. The great thing about Stay2Own is that you can lock down the price of the property now, enjoy staying there first for up to five years, and only decide to buy when you are ready.

Who this is for:
First time homebuyers, upgraders who want flexibility

• Hassle-free, no loan application required
• Live in your dream home without major commitments
• Low initial cost of 3-month rental deposit
• Lock in your purchase price today for up to five years
• Convert at least 30% of your rental already paid into part of your downpayment

If you are already paying rent, you might as well let it build towards something instead of just "burning" away. With Stay2Own, what used to be a sunk cost can now become an investment into your future home.

For more information about Stay2Own, visit their www.ecoworld.my/hope today.