Doesn’t it feel like family and friends always pressure you to buy a house? They all throw out the statement of, “Isn’t buying always better than renting?” This comes from the wisdom that the money you give to the bank goes into savings, whereas when you rent – that money disappears into the abyss. It’s akin to the statements that a newly married couple receives of, “Well, when are you having kids?” Most people are traditionalist in their way of thinking. You know how that goes: Go to college, graduate, get married, buy a house. Things are changing in America though and we highlighted that in a recent article called Why America has turned into a Nation of Renters. In that article, we demonstrated the trend in home ownership in this great country of ours.
Renters, like you, are wising up and realizing that it doesn’t make sense to lock yourself into a mortgage. Of course, you may want to consider investing into rental properties well into the future if your so inclined to diversify your portfolio, but if you’re the maverick type that likes to travel light – renting isn’t such a bad option anymore. We went on a little mission to find the most informative online video comparing buying vs. renting in America that analyzes the pros and cons.
This video below we found online published by KhanAcademy provides an educational overview of renting vs. buying. It clearly demonstrates that financial advantage of renting:Renting vs. buying a home: The math of renting vs. buying a home. Challenging the notion that it is always better to buy.