7 Reasons Why It’s Better To Rent a Home Than To Own It

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5. Less expensive

Up until this point, we’ve said that being a homeowner will cost you more money than renting a place to live. The truth is that you’ll have to pay a lot of money on a lease too: security deposits, application fees that are non-refundable, and the first and last month’s rent at signing.

But it still won’t be as expensive as owning a home. The down payment and the closing costs will surely make a hole in your budget if you’re not ready for them. Even though your monthly rent might be a tiny bit higher than paying the cost of a mortgage each month, there are a few good things about it. You don’t have to be scared about expensive things such as home repairs and property taxes.

…You win some, you lose some. Isn’t that right?

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5 Responses

  1. You will never make any money renting. I firmly disagree with this article. My wealth came from purchasing and renting real estate.

  2. I think it’s good idea to rent insted bying a house you make point about that there is a big diference to sell a house , to rent one . moving from one state to an order state rent is easier then bying !!!

  3. I’ve lived in an apartment for the last 10 years after being a homeowner for many, many years. The one thing I would add to your list for older adults is safety living in a secure building.

    1. Agree with that statement. Older adults need to be aware of their surroundings, especially when living in a place where there are many people you are unfamiliar with. Thank you.

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