40 Practical Reasons To Stop Renting

By Shannon
40 Practical Reasons To Stop Renting

The debate over renting a house vs. owning one has gone on for years, and everyone has a strong opinion as to why they think one is better than the other. Everyone’s circumstances are different, so for some people, it truly may be a better time in their life when renting makes more sense.

However, there’s no denying that owning a home has some serious advantages. Here are 40 reasons why it’s better to own a home than renting an apartment or house.

When you put money into a house, you are investing. Credit: Shutterstock

40. Buying a House is an Investment

First and foremost, buying a house is an investment in your future. When you buy a house, you are not just spending money on a place to live. You are investing your money into a property that belongs to you, so long as you don’t default and go into foreclosure. The value of the home may increase someday, due to inflation, a rise in the market, or if your local area becomes gentrified. Many people have been able to make a profit selling their home years after they bought them.

Investing in real estate can help grow your money. Credit: Shutterstock

Real estate is considered to be one of the “safest” places to put your money compared to the stock market or opening a business. Even when the market is down, at least you’ll have a roof over your head. Since most people live in a house for at least 30 years, the value will rise and fall over time, but it generally goes up. For example, in the early 1900s, Sears sold kits for building a brand new house called Sears Catalog Home. The cost of the kits were just $360–$2,890. Today, you can’t even get a Tiny House for that much money. Those houses are now valued at well over $100,000 each due to inflation.