House prices are rising around the country. Buying a house is more complicated than ever for many and statistics show Millennials are not buying homes at the rate of previous generations. If they’re not buying houses at the pace they once were, then they’re likely renting and making rent payments to a landlord.
Paying rent is a choice many make for a variety of reasons.
In addition to the ever-increasing price of homeownership, many choose to rent to keep their lives simple. Renting allows flexibility in location. The typical lease is a one-year commitment. If you don’t like where you live, you can move in a year.
Additionally, there are no upkeep expenses for renters. There are no roofs to replace, no landscaping, painting, windows, appliances, etc. to repair and replace. You have a fixed rent and utilities – that’s about it.
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