Renting vs Buying A Home

Some people can't decide whether it's better to rent an apartment or buy property.  A young couple might feel it's better to rent and save money for a home, while a young married couple thinking of starting a family is ready to buy a home. 

Renting might seem like the best option for those who can't afford to buy.  Some people think renting is no good because it's like throwing money away.  Others see it as a way to put more money away as they don't have all the added expenses of owning of a home.  However, rent usually increases every year due to inflation.  Renting an apartment can seem unsatisfactory when it comes to grocery shopping.  It can be challenging carrying all those bags to the apartment, unless you have a shopping buggy or live in a basement apartment in a house.  Living in an apartment with a pool or a gym can be a bonus because buying a house with those things can be expensive.  Before you paint or make any changes to the apartment you have to get permission from the landlord as you don't own it.  When renting the landlord is responsible for any repairs.

Owning property is a huge investment.  There's something about owning property that makes a person feel good about themself.  Buying a home is a big decision and there are more expenses, such as mortgage payments, utilities and property taxes.  You have to pay for any repairs, renovations and home maintenance.

What do you think is better?