Why renting is better than buying?

Simply put, renting is not better than buying, for several reasons.

One is that a home is an appreciating asset. If it rises in value, your wealth and potential profits increase. On the other hand, if a rented property rises in value, you pay more rent.

You may have to pay the cost of maintenance yourself if you own a home, but it’s better to be able to make decisions regarding your home without having to consult a landlord. You can, for example, make renovations that will improve the home’s value.

If you rent, you’re paying off someone else’s home loan, whereas if you buy, you’re paying off your own.

So while renting may be easier in the short-term, buying is the better option.