Best answer

Conventional wisdom asserts thatbuying a house or apartment is always better than renting;a popular reason being that 渞ent is just wasting money ?at least with a mortgage I檓 building equity.?While the statement technically is correct,it has a laundry list of implied assumptions. It may be far less risky,and cheaper,to rent.

People also ask

  • Is it better to rent or buy an apartment?

  • Pros and Cons for Renting vs. Buying an Apartment. There are clear advantages and disadvantages to renting versus buying an apartment or house. For example, small families may hesitate about buying and prefer to wait until their family size has grown and in need of the space.

  • Should you rent or buy your first home?

  • Renting a house potentially gives you the chance to become a homeowner quicker. Potential to Sub-Let a Room ?if the landlord allows you to do it, you might want to consider renting a room in the house. Renting a room is an excellent opportunity to have someone contributing toward the monthly rent.

  • What are the costs of renting or buying an apartment?

  • Consider upfront costs when renting or buying. As a renter, you檒l have to pay a deposit every time you sign a lease on an apartment. These range in amount, and they may not be refunded at the end of your lease. If you have a pet, you will probably have to pay a pet deposit, which may be non-refundable.

  • What are the pros and cons of renting vs buying?

  • Below are a few tips to help guide you on the pros and cons of renting vs. buying a home: Renting an apartment means you檙e free of any ownership responsibilities, such as building maintenance, upgrades, and fixing structural issues.