benefits of renting versus buying a condo?

Answer 1

I don't think there are many benefits of renting over owning except for the fact that you are not tied down, you can move at your will. You will usually pay just as much, if not more, per month on a lease.

Owning a condo, you benefit from the equity from your property appreciating. I would recommend owning over buying any day.

Answer 2

Owning a property is almost always a good long-term investment. However there are a lot of costs associated with buying a house and owning a house. Real estate fees and proper maintenance are just the tip of the iceburg.

If you are the kind of person, like me, who likes his freedom and moves around from place to place frequently, then you can actually be better off financially by renting and saving your extra money. The thing is that most people don't actually save their extra money.

Buying a house can be a great investment, but a mortgage can also be a ball and chain. There are more important things than money, at least for me. However even if you look at it strictly from a financial point of view, its far from guaranteed that buying a home will make you more money.

It depends entirely on your personality, your lifestyle and your future plans.