7 reasons why it's SMARTER to rent instead of buying home

Safety and Security

Renting, especially in a large complex, can offer better security just by virtue of the increased number of people nearby to warn off criminals and aid you in case you need it.

Focus on credit score

A temporary rental could be a good chance to get serious about raising your credit score. Assuming that one manages their credit and finances responsibly and makes payments on time.

Managing risks

Purchasing a property carries considerable risk because you have no control over your homes value. The value of your home can fall significantly from the amount you purchased due to fluctuations in the real estate market. So sit back and rent a home.

Taxation

Property taxes are one of the most significant expenditure. Prospective homeowners are ignorant of all the additional costs associated with owning a property, such as maintenance, homeowner association fees, and several kinds of insurance.

Maintenance-free living

You bear full responsibility for any necessary changes or repairs to your home while you own it. When you rent, all it usually demands is a quick phone call to get things fixed for free.

Investing elsewhere

Renting is almost always a more economical choice, and it will free up more cash for potentially lucrative investments like investing in the stock market or retirement savings.

Expense sharing

A lender will only hold the individual whose name is on the mortgage accountable if a roommate defaults on a payment. With separate contracts that require each roommate to pay their own rent, renting frequently gives housemates more possibilities.