Everyone dreams of owning his or her own home one day. I think that I have never met anyone who disagrees with this. Still, we find a lot of people who rent instead of owning their homes. While this may not be out of choice, did you know that there are some pretty good reasons you should rent instead of buy a home? Here are some of them.
Escape hidden costs of owning a home.
It is lovely to have a place to call your own. It is awesome not having to think about paying monthly rent. It is assuring to know that you will not have to move out in case you can’t pay the rent. Still, owning a home is not free. There are hidden costs that come it with. Let me name a few: mortgage, incidental repairs, transportation costs (if you live far from work because you wanted that house), taxes, and so on. All these are not part of the renter’s worry list.
Now this can be relative; but what normally happens is that people get to buy homes which are not very near the city center. This can be due to high costs, among other things. If you rent in the city, you have access to everything that you need within minutes.
For some people, settling down is not the end all be all. I think that renting is good for these people as it offers them more mobility. If they suddenly find an opportunity that requires them to pack up and move, renting will make this easier, as opposed to having to think about the home.
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