Financial consultant and author Melissa Jean-Baptiste emphasizes the value of renting houses, debunking the myth that it is a waste of money, Business Insider reports.
Jean-Baptiste talks about buying a house before turning 30 and the challenges of homeownership in her book “So…This Is Why I’m Broke.”
“Thinking that renting is throwing money away is a money myth that needs to go away. At the end of the day, paying for housing should never be considered a waste and taking your time and renting may be a great way to make sure you are really ready for homeownership. There are so many things to think about before you sign on that dotted line,” she says.
Renting provides flexibility and opportunities to save money. With interest rates up and home listings down by almost 16% in 2023, finding an affordable home is difficult.
Reasons to consider renting include potential lifestyle changes, avoiding home maintenance costs, and pursuing other wealth-building goals. Renting can allow for saving and investing, enhancing financial well-being.
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