Is Renting A Waste? What are benefits of renting?

[Yusra3]

Renting a home is not a waste of money. If you are renting a home, you are not wasting your money because you are still able to live in a home. You are still able to have a place to live and have a home. You are also not wasting your money because you are renting for a short period of time and you are not committing to buying a home. This means that you don't have to worry about making any long-term financial decisions. The only downside to renting is that you are not gaining any equity in the home. But this is a small downside and renting a home is still a good idea.

Benefits Of Renting

Some people believe that renting is a waste. They think that it is better to buy a home and be able to enjoy the benefits of owning it. However, there are many benefits of renting as well. For example, when you rent, you can choose the exact location you want to live in and you can move when you want to.

Renting is also a less expensive option than buying a home. Besides all of these benefits, renting also has its disadvantages. For example, renting is more expensive than owning a home because you have to pay for maintenance and utilities. But, if you compare the cost of owning a home to the cost of renting, it is often cheaper to rent than it is to own. It is important to consider the pros and cons of renting and owning before making a decision.

 

[moonchild]

I am more interested in renting apartment then buying a house, the liability is just too much but when you are renting, if you are not happy with the place or you just want to travel, i think as a tenant all you have to do is pack your bags and find your way out, if you own a house you have to be willing to settle in it and also be willing to live in one place for a very long time.

If you have money, you do not really have to worry about paying rent, you can pay for a long period of time and you can also in an afternoon, this is very easy to do, I will recommend buying a house to individual that are willing to settle for a very long period of time.

I think as a young person you re better off renting than owning.

 

[Shigobad2020]

It depends on how we look at it , renting has its positive and also its negative aspect .
So with the negative aspect , we can say renting is a waste of money in the sense that the money you are paying for rentage can go a long way as to buy a land and build a house with it and if you don't have enough money , you can mortgage a house or rather get a loan to start building your own house .
The positive aspect of renting is that when you dediced to rent an apartment ,MIT will be easier for you to start building your own house without rushing with the little amount you are accumulating , instead of going for a loan which might affect you in the near future and if care is not taken , your house can be collected from you when you are unable to pay ,
So it's better renting an apartment and using the little you have to develop your own house .

 

[Johnson2468]

Greater Flexibility Regarding Where to Live
Renters can live almost anywhere, whereas homeowners are only allowed to reside where they can afford to. For the majority of homebuyers, living in a pricey city like New York may be beyond of their price range, but renting is very feasible. Renters are more likely than home buyers to find an affordable monthly payment, even if rents can be expensive in regions where home values are also high.

No bills for repairs or maintenance.
The absence of maintenance and repair expenses is one advantage of renting a home. This means that when you rent a property, the whole cost of all upkeep, improvements, and repairs is assumed by the landlord.
You should contact your landlord, who is obligated to repair or replace anything that stops working or begins to leak from your roof.
On the other hand, all costs associated with home upkeep, upkeep, and renovation are the responsibility of the homeowner. It can get rather expensive depending on the task's nature (and when additional jobs arise at the same time).