To Rent or Buy A Home? The Argument for renting!


At a time when bigger mortgage deposits are being required by lenders to be able to buy a home, many young first time buyers and growing families must be out of their minds with worry, wondering if they’ll ever be able to buy a house!

Is renting the end of the world though? Are you a lesser person because you rent?

Home ownership is put on a pedestal as the most important factor of your adult life, something we should all attain to. In some aspects I agree and will outline these in a follow up post!

There are advantages to renting however that we shouldn’t overlook and next time you’re sat there feeling depressed that you havn’t yet reached lifes ultimate goal of home ownership consider the following!


Don’t ever take freedom for granted. You never know what twists, turns or opportunities life might throw your way. Never underestimate how much owning your own home can prevent your ability to react to these changes in circumstance!

Think about if you were to be offered a promotion in another area, were to have a child or perhaps the area you are living in were to have a surge in crime! What would you do?

If you own your own home you have the worry of being able to sell it! You might have fallen into negative equity and might not be able to afford to sell it. You’ll worry about all the effort you’ve put into your house to get it just how you want it, will you really want to leave all that behind?

By the time you’ve been able to resolve all these issues an opportunity may well have passed you by! If you rent however, you only need hand in your notice and rent somewhere else. There is a lot to be said for this kind of freedom!


When we buy our own home many of us stretch our finances to get the best we can afford! We may not take into account how many maintenance costs are involved when owning a property.

What if your boiler was to breakdown, you had a damp problem or your property needed a new roof?

If you rent your home you can simply pass these problems on to the landlord. If it doesn’t get sorted you’re free to move elsewhere!

Help if things go wrong

None of us want to think of the prospect of losing our job, or worse yet our health!

Sadly though these things do happen to people every day. In the UK the system is set up in a way that more government help is available to those who fall on hard times if they rent their home, than if they own a home.

Though I would not base my life decisions on this, especially with the debt mess most governments are in at the moment, it is worth consideration!

I am certainly not saying that home ownership is a bad idea and my follow up post will outline this, but next time you’re sat there depressed that you have not yet reached the home ownership goal, think about the factors outlined above. Maybe you’re in a better financial position than you’re giving yourself credit for!

9 Responses to To Rent or Buy A Home? The Argument for renting!

  1. Tackling Our Debt says:

    I agree that this has happened “Home ownership is put on a pedestal as the most important factor of your adult life, something we should all attain to.” and I think it is unfortunate.

    Over the years I have rented many different places and have also owned 3 lovely homes. My current preference is to rent for all of the reasons that you listed. When I owned homes I was constantly spending money on landscaping and maintenance. Now the landlord does it all and usually within a few hours of us phoning them. I love it!!

    By the way, great to connect with you!

    • Adam Buller says:

      Great comment! When you own your home you view it as a representation of your personality. If you’re a perfectionist or have expensive taste that’s not going to help your bank balance. With a rented home everyone knows why you’ve not changed everything. You can just get on with living your life! Good connecting with you too!

  2. MultimillionaireRoad says:

    Adam I apologise if this looks like I’m promoting my article, it’s just that I’ve written a post just on this topic.
    I was always an avid believer in buying property but since researching and writing that post I’ve changed my mind. I can see myself being a long term renter, at least for the next few decades. It’s generally cheaper than buying, I can invest my deposit into shares, I can save more for a deposit so that I take on a smaller mortgage, and it gives me the freedom to move (I hope to do a secondment in America in a few years time).

    • Adam Buller says:

      It’s fine ashley. I didn’t think about the fact there are other ways you can invest the money you’ve saved for a deposit which might put you in a better financial standing for the future. Good point!

  3. Meghan says:

    I definitely agree with this post entirely. I’d rather rent until I’ve saved enough to put a substantial down payment on a house.

    • Adam Buller says:

      You need it these days! There seems to be a lot of support for the renting argument. I Hope I don’t get abuse when I publish the benefits of buying! Love your blog name by the way!

  4. AlexM says:

    I own a home — but I am not of the mindset that the debt on it is a horrible thing. I just don’t think a mortgage is evil — and in my case it’s affordable and cheaper than renting. However… what people who feel they must own a home 100% don’t realize is that their equity isn’t as solid as they think. A lawsuit, tax lien, etc. can be attached to the property. If you fall behind on your property tax, you could lose your home — even if you owned it 100%. Your property could be auctioned off and sold well below its worth. Whomever had the lien would take their cut first.

    No, home ownership is not as secure as one might believe.

    • Adam Buller says:

      I’ve heard stories of people who had fallen behind on what they thought were unsecured debts having a charge put on thier property and being forced to sell it, so it’s a good point you’re making here!

  5. cjb says:

    I have to agree with every comment here.

    I purchased a condo after right in the middle of a divorce. Dumb Dumb move. I should have rented an apartment or shared a house with a friend but my family was telling me that I needed to invest my money and and I needed a home.

    Sigh…I could probably write a post on the horrible expense of owning a home and why it’s a good idea to wait at least a year before making a huge financial decision during a life change.

    I sit here some nights and wonder, how many times the police need to show up to your neighborhood before your property values decrease even further or your neighborhood becomes more undesirable because of something out of your control. Also a post for a blog (when I get my crap together).

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