Mortgages-E

At some point in your life, renting may be the best way to go.   Single working adults will find renting is a pretty good option.  There are little maintenance responsibilities that are costly or time consuming.  Most rental complexes also offer recreational facilities such as exercise room, swimming pools, jacuzzi, and tennis courts, etc.  You only need to agree to fullfill the leasing agreement between you and your landlord. Renting, all in all, is a pretty good solution for singles or couples who are just starting out.  Rent payment is often more affordable in these situations.

A major disadvantage to renting:  There are no tax or equity benefits. Since you do not own the property, as property equity (home value) increases, the owners benefit. You cannot claim tax deduction on your rent payments.