Renting might be better financially in the long term, but dealing with and/or being reliant on a landlord for housing my family was never a palatable option for me. Landlords can sell the property, charge exorbitant rent, be difficult to deal with or unresponsive. You can’t make any changes to the property since you don’t own it. No equity is built, no sharing in the upside. Why would I pay rent (which would be thousands more a year than I pay for my mortgage for the type of home I have if I could even find one in our area) and help my landlord build equity and make a profit as well? My H and I bought a house as soon as we could financially manage it. I would never willingly rent at this point in my life.
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