12 Common Money Myths You Need to Forget You’ve Ever Heard

Buying is better than renting

Since when? It’s true that owning can give you a certain psychological comfort, knowing that it’s your home and no one can kick you out, for example. Renting, on the other hand, has always been seen as a way to waste money but in the actual housing market context, renting seems like the more profitable option.

“Changes in the housing market and taxes make it more difficult for owning a home to be the sure-fire way of accumulating wealth,” says Hudson. Add in the additional costs such as homeowners insurance, community fees, repairs, taxes and so on and you can see why some might opt for renting instead of owning.

That being said, check out these 8 Things It’s Smarter (and More Profitable) To Rent Than To Buy!

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