What are some advantages and disadvantages of renting a home?

Answer 1

Advantages of renting a home include flexibility, as it allows for easier relocation without the burden of selling a property, and typically lower upfront costs compared to buying. Renters are also generally not responsible for maintenance and repair expenses. On the downside, renting can lead to a lack of stability, as lease terms can change and landlords may decide to sell the property. Additionally, renters do not build equity, meaning monthly payments do not contribute to ownership of a valuable asset.