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4 Reasons Renting Is Better Than Owning

We live in a society that has certain expectations of what we should be doing, certain milestones we need to work towards and certain pressures we need to succumb to, and the ‘get yourself a mortgage’ thought is certainly one of them.

This is because there are so many apparent pitfalls when it comes to renting. Prices can go up, pet policies can be strict, you haven’t got so much control over the decor or upgrades, and any improvements you do make simply add to the owner’s profit margins. We’ve heard it all before.

But what you may not have heard is there are some silver linings when it comes to renting or, as we like to think of it, reasons to be glad you are not a homeowner, and here is just a few of them.

  1. No Worrying About A Crash

It doesn’t matter which way your internal disposition leans – from optimistic to realistic – there are a lot of signs that there is a crash on the horizon. There are zero-down-payment mortgages available, house prices have climbed higher and higher while wages have remained static, and financial institutions are making the same old mistakes as usual. Luckily, renting saves you from most of these disasters, and allows you to stay more financial safe.

  1. Questions About Ownership

When you buy something, you own it. That’s a common understanding we all have. But it doesn’t quite transcend to home ownership, as all those facing foreclosure will attest. Having your home taken away from you is just a few missed mortgage payments or tax payments; it’s as easy as that. Yes, landlords can ask you to leave a rented property for a myriad of reasons, but you don’t lose something that was yours as a result.

  1. Unexpected Costs Of Landlording

Those that own a home can easily think they have a financial safety net. But it isn’t as easy as that. A lot of the time, having a house and being able to sell your house is about as far-removed from one another as you can get, and while you might think the answer is renting it out, there are a ton of expenses you need to consider first. Yes, the rent you get might cover your mortgage, tax, and insurance, but it probably won’t cover the non-stop maintenance issues. A lot of people think real estate is a good investment, but how many other investments require you to keep paying out for.

  1. Renting Has Better Flexibility

There are a thousand reasons why someone needs to be flexible and it’s all to do with the unexpected nature of life. You might get a job offer from somewhere far away, you might want to move to a new part of the country, your mom might get sick, you’re starting a family – all of these require you to be flexible, and that’s exactly where renting prevails. You can move at the drop of a hat, upsize if you need to and ride the waves of life in a much more successful manner.