When it comes to renting a home compared to buying one, there are a multitude of differences that you should be aware of. You have more responsibilities and obligations as an owner, but you also have way more creative freedom to do as you please with your own house. There are a ton of pros and cons to each, but here two quick reasons renting can be more sound than buying.
- Down payments are a large chunk of change. When buying a home it is optimal to put 20% down, obviously is naturally quite a lot of money to save up for prior to buying your house and can pose some difficulties.
- Credit Score. This is one thing that sneaks up on many people, as not everyone stays on top of their credit score. Renting offers a much more lenient approach when it comes to down to accepting credit scores.