Rent rather than own? On purpose? According to common wisdom, that's lunacy. But once you steer your way through some myths and misunderstanding, renting often emerges as the preferable option.
Save money
Common wisdom says renting equals throwing your money away. The truth is, unless you're planning on staying in a house for more than five years, you run the risk of losing money if you buy a home. Mortgages are amortized so you're paying mostly interest in the first few years. Add in property tax, insurance, maintenance costs and the fees associated with selling the house and five years of renting can be significantly cheaper than owning.
Movin' on up
Speculators are driving real estate prices up--bad for buyers but great for renters. The current real estate bubble has resulted in a large supply of reasonably-priced homes and apartments on the market right now, so renters can live in neighborhoods they couldn't afford to buy in.
Be choosey
If you're new to an area, renting is a smart way to get the lay of the land. It can take several months to get to know a new city or neighborhood. Renting gives you the freedom to browse, to learn the quirks and nuances of various areas and figure out which one is your perfect match.
Peace of mind
Heater broken? Roof leaking? When you're a renter, that's someone else's headache.
