Although a majority of American adults still feel that buying a home is an important part of the American Dream, the idea is no longer as attractive as it used to be as our idea of work and mobility changes. For many of the Baby Boomers, owning a home was synonymous with working your whole life for one employer and retiring with a pension- things that seem outright alien today to most new and recent entrants into the workforce. With that in mind, renting can often be more advantageous to owning. For example, don’t rent if you intend to move soon, so that you don’t have to worry about selling your house; additionally, wait until you have at least 20% of a down payment and until you truly know your area. Additionally, identify if you really want the responsibilities that come with being a homeowner, and make the decision.
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8 Times When It’s Smarter to Rent a Home Than to Buy