No matter how you debate over which is better - home renting or buying one, there is really no specific conclusion. If you are renting then you are providing equity to your landlord. For example, you are renting a unit for over three years already and you are paying a thousand dollars a month. During this time, you most probably have paid the landlord of over thirty six thousand dollars. You can designate
the landlord's payment to about less than this amount or he could increase your monthly payment. You may realize this but you have been paying for his mortgages for over three years.
For three years, you have allotted every payment for mortgages to your landlord. By doing so, you helped him in building his home equity through mortgage payments with regards to the loan's principal. Above this, property equity growth is all his and if you have paid ten thousand dollars as a principal amount and the homes appreciation value is a hundred thousand dollars, then you have given him a
total of a hundred and ten thousand dollars. Without doubt, you are making your landlord rich!
If you are renting an apartment unit, condo, or house, you will realize that the example above is quite depressing. Try making a list of your debts and assets and subtract the former from the latter. No matter how much amount it reflects, it would have seemed much better if the amount you pay for rent would
have been in your own balance sheet and not the landlord's.
Renting is a need these days. If this need arises, you have no other choice but to do so and save for a home later on. There are thousands of options for making affordable loans out there and if you are considering home ownership as soon as possible you can always go for any great choice.