Majority of us grew up believing that if one is a tenant then that person is a failure. Imagine telling your dad this “daddy when I grow up I want to rent a big house in Lekki” you might end up in a religious deliverance session.
Contrary to popular assumption renting is not a taboo and in some cases renting is the best option, see those cases belo:
Easy Mobilization: For some people settling and starting a family is a major priority, but for others who are never permanently in one place renting would serve you better. You don’t have to pay mortgage for a house you haven’t set eyes on for a while. You can get that overseas job, relocate at anytime, explore life, live on the move… etc
Fewer Expenses: It’s the property owners responsibility to pay for the upkeep of the house. It can be very difficult maintaining a house and some people use all their monthly earning to fix the pumping machine, heater, pay house bills or other expenses that comes with owing house. As a tenant you can sleep in peace without worrying of such.
You can live in that fancy environment: For some people, living in the trendy suburb and paying mortgage might be too expensive but renting would be more affordable. You get to be a walking distance from the best restaurants, bars, cinema, shopping mall and other recreational centers. You also network by meeting new prestigious people who can also motivate you.
Renting can be cheaper: Renting can be more affordable than buying; people buy houses as a means of forcing savings by buying a property they don’t touch than bank account they can have easy access to. This can be good but high interest bank accounts that can be more lucrative than owning a house.
Many experts concluded that it is better to rent by putting extra cash in high returns investment bank account rather than buying property.
My point is that renting isn’t a bad idea if you consider the above reasons.
