4 Reasons To Not Buy A Home And Rent Instead (Even If You Can Afford It)

The nation’s homeownership rate of 63.1% is at its lowest level in five decades in 2020, according to Census Bureau data. If you’ve been debating whether or not buying a home is a good financial decision, consider these qualitative reasons why renting might be better for you.

You Enjoy Hobbies More Than Household Chores

Pride is often cited as one of the main advantages of homeownership, where you have the freedom to express yourself in your house more than in a rental. Bankrate’s recent Financial Security survey reported 74% of Americans consider homeownership to be of higher value than any other economic stability measure, including a comfortable retirement, a successful career, having children and holding a college degree.