You’ll likely move more often than you think. Should you rent or buy your home? Let’s look at 16 factors to consider, many of which you’ve never thought about: They just don’t know what factors to consider. Many people are actually better off renting. “Paying rent is like throwing money away every month,” they lament.

Some people want to own a home but they simply can’t afford it. This year, the homeownership rate plunged to 62.9%, the lowest since 1965. “Home ownership is the American Dream.” Really? Fannie Mae associates these things in their marketing slogan. You have four choices in how you live: own your home, pay rent to a landlord, be homeless, or live with your parents – haha! Let’s discuss the first two: Renting vs. Though owning a home is rarely a good financial investment, one still ties up a lot of money in their humble abode, so let’s explore this. A home takes money out of your pocket every month. Rich Dad said, “A home is a liability, not an asset.” An asset puts money into your pocket every month. Most people think that owning a home is a financial asset.

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