9 Benefits of Renting vs. Owning a Home

We talk a lot about the benefits of owning a home, but what about renting one? A lot of people (and especially a lot of young people) are struggling with the decision of renting vs. owning a home, and it’s an understandable problem to have. Both renting and owning have their own advantages and disadvantages, and these factors should always be considered when making a decision as big as whether you should buy a home or sign a lease.

Renting and buying are big financial commitments, but often in different ways—as well as to different degrees. So in what areas does renting beat out home ownership? Read on for nine big benefits of renting vs. owning a home that you should consider before making your move.

It’s Way Less Expensive Up Front

It’s Not So Risky

You Have More Flexibility

Repairs are Someone Else’s Problem

No Property Taxes

You Know What You’re Paying Each Month

Some Utilities May Be Included

It’s a Luxury Not to Sweat the Small Stuff

There’s No Pressure to Upgrade

Ultimately, the decision of renting vs. buying comes down to what you can afford and how much responsibility you want to have when it comes to your home. There’s nothing wrong with foregoing home ownership for the flexibility that comes with renting, nor is there anything wrong with going all in and buying a home. Make the decision that’s right for you and your finances, and you should be happy with wherever you end up.