For most individual, owning a home is more than material acquisition. Owning a property is somehow being considered as a morale boost, especially if it was out of hard work. However, in today's generation other individuals choose to rent rather than own their own house. Such line of thinking was emphasized on the report of Fiona Brandhorst:
Forever renters: when the home ownership dream fades
On the flip side there is still a perception that renters are stuck in adolescence; students in grimy accommodation or young professionals who have been shut out of the housing market by high prices.
However, today's tenants are just as likely to be couples with children or over-55s renting after a divorce, according to new research from the flatshare website, Weroom.com. In fact, a quarter of people are having children while living in rented property and it's not just because buying a house is becoming more unaffordable, for many it's a lifestyle choice. Read full article...
Since it is viewed as a lifestyle choice, advantages have been likewise reviewed by most of the people who prefers to rent that to own. There are many reasons why it is advantageous to rent. Michele Lerner in her article pointed out some of these said advantages of renting:
Renting vs. Buying a House - How to Make a Decision, Pros & Cons
No Maintenance Is Required. If the garbage disposal breaks or you need a plumber, getting maintenance is as easy as calling the superintendent.
You Can Avoid Owning a Depreciating Asset. While home prices have stabilized and are rising in most housing markets, there's no guarantee that your home will increase in value over time. Source...
Now there is really no concern for an individual who likes to rent as long as it is his personal decision and not merely a result of being financially constraint. One cannot simply judge the reason behind rental preference rather than choosing to buy a property. In the end of the day, things would likely rest on the idea on whether you will be having a peaceful rest in your chosen lifestyle.
