This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Or is it?
We all have our opinions on renting and buying. I don’t think there is a right or wrong path. But we do need to face the fact that if most people could choose between a house or an apartment, most would choose to own a home if money wasn’t brought into question.
We all want space, freedom, and independence. Some rental properties provide this, but most don’t.
Though many residential communities and HOAs have irritating rules, it’s still your property when you own it free and clear at the end of the day.
Rent often does cost more than a house, but it’s also more affordable in the short term for most people. It also has a lot fewer requirements to get in.
Rent Is Often Significantly Higher Than Rent
There have been many cases where people who don’t own a home are paying significantly higher prices in rent.
While the homeowners are chilling on their low-cost mortgages.
But you have to be able to afford that mortgage or else, which is one more reason why many people don’t own homes.
If You Can, Keep The Rent Low
People who own houses have one thing going for them: they invest their monthly income into a property. Though many people don’t end up paying their house off, many financially sound and focused ones do.
If you’re renting, you’re essentially throwing away your money each month; so if you can…
Keep your rent as low as possible.
How can you do this, you might ask?
By implementing a few of the following strategies:
Consistently increase your income.
Live in a low-cost geographic area.
Use your place as an air BnB.
Live with roommates.
Live with family.
The options are limitless. So far, I’ve tried most of these, all but one, which I plan to try next. There is no shame in living with roommates or family – especially if you’re going to be pocketing a significant amount of cash due to the fact.
Do what you need to do to keep your cost of living low.
When you’re renting, you’re not investing in real estate unless you’re acquiring digital real estate (i.e., REITs). Hence, the best thing you can do is keep your expenses low and re-invest those extra funds.
Still, Renting Is A Favorable Position
No maintenance. No taxes. No upkeep. No HOA fees. No mortgage insurance. No PII if you can’t afford the 20% down payment. No 20% down payment. No 15–30 year contract. Less debt.
So, of course, there are pros to renting, but in the long run, you need to ask yourself, would I rather rent long-term or buy a property and start building out my physical real estate portfolio?
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.