Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Why Renting Makes Sense and other Rental Home topics.
Not everyone wants to be—or should be—a homeowner, so when it comes to a home rental or apartment rentals, there are a number of reasons why renting makes sense. Real estate rentals allow you to have a more flexible lifestyle rather than feel tied down by a 15- or 30-year mortgage. Another benefit of a home rental is that someone else has to do the repairs and handle most of the maintenance on the property.
When you compare the cost of apartments for rent against purchasing an apartment, condo, or townhouse, it can be considerably more expensive to own a home. On the other hand, a home or apartment rental does not have fees, such as homeowner association dues, property takes, and homeowners insurance. Most real estate rentals also include some utilities, such as trash and water, and maintenance, including pool or garden service. The bottom line is that if homeownership does not work for you, renting may be a better fit for your lifestyle.