There are a lot of reasons someone may choose to rent rather than buy a home. But everyone’s circumstances are different and what works for one person may not work for you. The decision to rent or buy may depend on what phase of life you are in. Renting offers the flexibility to move easily and the ability to pay down debt and begin saving for the future. There is a low upfront cost, which is appealing to someone starting out with little to no savings. Renting can also mean lower insurance costs, little to no maintenance costs and financial flexibility.
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