3 Ways Renting Could Make You Wealthier Than Owning a Home [Video]

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At the age of 35, more than half of my friends own homes. Whenever I find myself in conversation with those people, they are quick to judge my decision to be a renter instead of a homeowner. I try to explain to them that renting has big financial benefits for me. I’m able to hunt for inexpensive places to rent, and I avoid many living costs.

Even though I have no intention of buying a property anytime soon, these friends like to tell me that renting will set me back financially and it will always hold me back from increasing my net worth.

While there are financial perks that come with owning a home, like yearly tax deductionsand an …