The main financial benefit of renting is
A)tax deductions.
B)increased equity.
C)investment value growth.
D)lower initial costs.
E)high financial commitment.

Question

Quizplus · Accepted Answer

The main financial benefit of renting is lower initial costs as compared to buying a home. This is because, in the case of renting, the tenant has to pay a security deposit, monthly rent, and utilities, while in the case of buying a home, the buyer has to pay a down payment, mortgage, property taxes, and other associated costs which can be significantly higher. Therefore, renting can be a more affordable option for those who cannot afford to buy a home.

The Main Financial Benefit of Renting Is