7 reasons renting a home is better than buying one
- For those who aren't quite ready to purchase their own home, renting is a very viable alternative to buying.
- Renters get to save on upkeep and recurring expenses, and costs such as taxes, insurance, and maintenance are less of an issue as a renter.
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Renting a home can be an ideal option for those wanting extra flexibility and less responsibility. While buying a home can involve some serious saving and commitment, renting can help you maintain your flexibility and lifestyle.
Especially for those in expensive housing markets, renting a house can be a simple way to get the space you want without having to spend years saving for a down payment. Renting also allows you a bit more flexibility than homeownership would, whether you're in a house or an apartment. With renting, you're not tied to the property long-term, and you're also less responsible for saving for repairs, paying for taxes and insurance, and keeping up with other expenses.
Renting gives you a home without any of the burdens of homeownership. It's the easiest way to live in a house without the hassle - here are a few reasons why:
Renting helps you avoid some major expenses
Renters insurance is much less expensive than homeowners insurance
There's no down payment needed
Homeowner's association fees generally aren't your problem
You're not stuck with any losses
There's no property tax to worry about
You're not tied to it long-term
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