• Renters can avoid many of the problems that come with owning a home.for rent image by PinkShot from Fotolia.com
  
  It's a common assumption that when you buy a home, you are putting your money to good use because you are building equity. When you rent, supposedly you're throwing money away each month. However, contrary to popular belief, there are many good reasons to rent a home, and some may surprise you.
  
  

Renting is Cheaper

• When you consider the additional costs of owing a home, renting often comes out to be much less expensive. Additional costs of home ownership include property insurance, closing costs, and property taxes. When you rent, all you have to worry about is the amount of rent you pay the landlord each month and maybe a couple of utilities like gas and electric.
  
  

Less Comittment

• Buying a home requires signing mortgage papers.You have to agree to make payments on a huge loan. Sometimes, that kind of debt can leave you stuck in a job you can't stand. You may even have to get two jobs to keep up with the payments. However, with renting, it's much easier to get out of a lease if you need to move for a new job or your financial situation suddenly changes.
  
  

There's No Risk

• It's a common belief that a home is an investment. However, that's not always true. According to Everyday Cheapskate, owning a home can be a very risky business with no guarantees that you will gain a return on your investment. According to MSN, you won't get any return on the all money you pay for things like closing fees and property taxes. You'd be better off saving that money or putting it into stocks.
  
  At any given moment, the housing market could decline and you could end up with an upside down mortgage, owing more on the loan than the home is worth. If you have an adjustable rate mortgage, monthly payments could go up as the market declines, leaving you at risk for foreclosure if you can't afford the payments. When you rent, someone else takes on the financial risks.
  
  

It Saves Time

• Owning a home means spending time maintaining the property and fixing anything that goes wrong. However, if you rent, the landlord will take care of the maintenance and repairs. That will free up more time for other important things you have to do.