One of the most difficult decisions you make in your life is whether to buy a house or keep renting. You will hear over and over that when you rent you’re throwing money away and when you buy a house that means you’ve hit the American dream!

I want to say this about renting, renting is not throwing your money away. You need a place to live and there’s someone out there that has taken a risk to buy a building and let you live in it.

So, it’s a difficult decision for them to decide “Who am I going to rent my house or apartment to, where do I draw the line?”

So while you might be thinking “Oh! Renting is throwing money down the drain”, the person whose spent their live savings on an investment of an apartment building or rental house, is actually placing their trust in you.

And now let me say one other thing. If you didn’t buy your house for cash you don’t own your home, the bank owns your home, the lender owns your home. You have all the responsibilities of the property tax, insurance, repairs and maintenance hot water heaters, a garage is flooding, sewer system problems, electrical problems.

But the bank actually owns your home and don’t for a minute think they wouldn’t take it back if you screw up. So, renting is a smart thing to do until you’re perfectly capable of handling all the extra responsibility of owning your own home.

So, if we bust the rent myth we might be a lot happier in our life and not be envious of those who own a home. Yes, what you’re doing when you rent is your paying someone else’s mortgage but you’re also, having the privilege of living in a space that doesn’t belong to you and is not your responsibility.