benefits of renting a home
Depending on your financial situation and preferred style of living, there are many advantages to renting: 1  Renting a home can be cheaper than buying a home. 2  You have more flexibility when you rent. 3  Your landlord, not you, is responsible for performing nearly all maintenance and repair work on the property.
Buying a home has numerous ancillary costs and liabilities. You are responsible for the maintenance, liable for mechanical failure, market risk, buying and selling commissions, and the increased monthly cost on a mortgage. Renting offers the flexibility to come and go. You are not responsible for most maintenance, liable for most mechanical failures, market risk, buying and selling commissions, or increased monthly costs. Renting offers a liquidity that buying canât. Over the long-term, the stock market has crushed the housing market.