Why A Luxury Rental Might Be Your Next Great Real Estate Decision

Depending on your lifestyle, the rental of a luxury home can fill a noticeable gap in your future planning. Whether you haven’t yet found the perfect home for purchase, or you’re dreaming of an extended staycation, renting can satisfy your current shelter needs—and save you a few of the commitments that come with full ownership. And who’s to say renting won’t bring you one step closer in your search for your next house? Here are some of the benefits luxury rentals can offer as you dovetail your plans with the unexpected.

A Change of Scenery—Without the Commitment

Provence-Alpes-Cote D’Azur, France | Côte d’Azur Sotheby’s International Realty

For those who feel the need for a change but aren’t in a place to set aside time for house hunting, a luxury rental offers an immediate option for escape and novelty. Renting allows you to explore different states and climates that you might not otherwise consider. Have you always wondered about desert living, or been curious about spending time in a secluded luxury cabin in the woods? Renting first is the perfect way to satisfy those curiosities by testing out a region before committing to buying there. If you fall in love with the area, purchasing property nearby for long-term use becomes an easier decision to make.

A Way to Enjoy Longer-Term Holidays

Aspen, Colorado | Lyndell HendricksAspen Snowmass Sotheby’s International Realty

Renting gives you more than a chance to inspect a new area before buying—it’s an opportunity to enjoy a luxury vacation with family or friends for an extended period of time. Immersion in a space with novel décor, new amenities, and fresh views can provide respite from the everyday and help you unwind. With renting, there’s also the flexibility to customize the length of your staycation: a luxury rental can be the perfect place to balance working remotely with intimate gatherings, rest, and relaxation. 

Convenience Without the Maintenance

Dubai, United Arab Emirates | Sarah AlibhaiLUXHABITAT Sotheby’s International Realty

Possibly the best aspect of renting a luxury property versus owning one? There’s less upkeep. As homeowners are well aware, purchasing a property can come with its own considerations and challenges, such as inconvenient renovations, landscaping, snow removal, and general wear and tear of furniture and appliances. With a rental, it’s all taken care of by the landlord or property manager, so you can fully enjoy the space knowing your stay is supported.

Access to Different Amenities

Water Mill, New York | Maz CrottySotheby’s International Realty – Southampton Brokerage

Many luxury rental properties offer incredible amenities that you may not yet have found in your home search. Private pools, beachfront access, home cinemas, games rooms, athletic facilities, and fitness centers are prime perks a rental can include. You may discover certain amenities that are must-haves for your next home purchase by trying them out on a temporary basis. 

Not only is renting a perfect stepping stone for deciding where you’d like to own a home next, but renting a property with luxury amenities in a beautiful environment makes for an excellent staycation. Rentals can offer peace of mind—freedom from property taxes alongside potentially lower insurance costs and utility bills are certainly benefits to keep in mind. It’s worthwhile to keep luxury rentals a part of your real estate decision-making process.

Cover image courtesy of London, England | Mohamed ZaghloulUnited Kingdom Sotheby’s International Realty

Article originally appeared in the Extraordinary Living Blog, Sotheby's International Realty.