7 Reasons Why Renting is Way More Awesome than Buying ...

By Valencia

As an adult, you may feel it's time to stop renting and buy your own place. Many people dream of owning a own home. They can decorate the house, earn equity, plus buying provides a measure of stability.

Although buying might be the American way, there are seven reasons why renting is way more awesome than buying.

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1

You Won't Drain Your Savings Account

You worked hard to build your savings account. And unfortunately, buying a home can wipe out your account. Anyone who purchases should expect to spend money out of pocket. This includes cash for a down payment and closing costs. It might take five years to save $10,000, yet one purchase can completely drain everything in your account.

2

Allows Time to Improve Your Credit

You don't need perfect credit to buy a house. Most lenders will approve your application as long as you have at least a 680 or higher credit score, and you can get an FHA home loan with a credit score as low as 500. But if you postpone buying and use this time to increase your credit, you'll qualify for the best rates, which helps lower monthly payments. Borrowers with credit scores 740 or higher typically qualify for the most favorable rates.

3

You Can Ditch Your Gym Membership

After a little research, I found gym memberships can range from $29/month to $50/month, depending on where you live. If you move into an apartment complex with an on-site gym, you can ditch your gym membership and save each month. The money you save can go toward paying the rent.

4

You'll Never Spend a Dime on Repairs

Homeownership has its pros and cons. And one of the biggest cons is spending your hard-earned money on maintenance and repairs. As a renter, all you have to do is give your landlord a call and he's responsible for maintaining the property. It's a major perk, especially since homes eventually need new windows, a new roof, a new air-conditioning unit, which can cost thousands of dollars – money you might not have.

5

You Can Come and Go – at Least Every 12 Months

When you buy a house, you can't move as easily as renting. With homeownership, you have to sell the house and pray you find a borrower willing to pay what you need. As a renter, you can choose a short-term or long-term lease. At the end of your lease, give your landlord a 30-day notice and you're free to leave.

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6

Built-in Security

If you're concerned with safety, especially if you live alone, moving into an apartment complex with security features can provide peace of mind. Some gated apartment complexes require a code for entry. Additionally, some apartment complexes have doors that require a code for entry into a building. This can reduce the risk of theft and solicitors.

7

On-site Rec Center

Some apartment complexes have on-site recreational centers. These include a coffee station, sitting areas, pool tables, a swimming pool, a hot tub and party rooms. Some complexes even host parties for residents. Depending on the amenities, apartment living might be the equivalent of living at a resort full-time.

Ultimately, you have to choose the living situation that's right for you. Why do you think renting is more awesome than buying?

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Where Thoughts and Opinions Converge

Buying your own house is way better. Why keep making your landlord or realtor rich when instead you can have something of your own once its paid off.

Buying a house way better... Especially if your in a nice neighborhood... I like doing yard work with my babe and sitting on the back porch looking at the stars with firepit going ... Nice

I prefer to rent hands down

na i disagree i think buying a house is the way to go, me and my fiance is also renting houses and we really want to buy a house, if it's yours you can anything you want and make your own, our dishwasher breaks like 6 times a month and the owner refuses to get a new one he just replaces the motor, every time and our washing machine is shit, can't wait till we have enough saved to buy a house.

I think buying (anything) is better than renting. Nothing's better than having your own stuff!

Pros and cons both ways..... We own our home but our mortgage payment is a monster. Now we need a new water heater and roof repair but we can't afford it. This is when I miss renting!

Buying is way better. There are a lot more pros to buying than renting.

Renting is the Best! I feel I live in a resort everyday :) I don't have to shovel snow, state of the art gym 24 hours, swimming pool, library, party room that can be reserved whenever I want for free, and other... Oh and all utilities included:D I don't worry about taxes, fixing up anything I can make a call anytime (24 hrs) & they'll take care of everything. My parents own their home & have to pay for everything

Don't forget all the costs of fixing things up in your home monthly and yearly. All the little things add up. And to the point of low payments, yes low up front, but have you thought about interest?!! You'll pay more in interest than you will for rent all in the end. Renting is a million times better than buying a house. Plus you have time to build up a savings account and eventually buy a house cash. Now doesn't that make a heck of a lot more sense?

I think buying a house is way better than renting. Now days you can pay as little as $650 a month for a mortgage. That also includes your house insurances and taxes.

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