But paying rent is still a waste of money, right?
Anyone can waste money by making bad spending decisions and relying too much on credit.
But on its own, renting is actually a smart and flexible financial choice!
When you rent an apartment, it’s best to think of it as simply exchanging money for a place to live.
Is renting an apartment worth it?
Also worth restating is the freedom renting gives you from monotonous and expensive maintenance. If you live in a market where you can rent an apartment for substantially less per month than you could own a home, you can invest the difference. The difference doesn’t have to be huge.
Why you should rent instead of buy?
One of the major benefits of renting versus owning is that renters don’t have to pay property taxes. Although property tax calculations can be complex, they are determined based on the estimated property value of the house and the amount of land.
Is renting forever a good idea?
Even better, you can live in a rental either forever or maybe one day you’ll change your mind and nothing will prevent you from buying your own residence. The arguments against renting forever is that it is more expensive than owning. The additional expense of renting may be worth it to you.