I am sure you’ve heard the old sage advice “It’s better to own than rent”. So should you feel foolish for renting? Is there ever a time when it is smarter to rent than to buy? Just as it is with almost everything in life, there is a time for everything. So there, too, is a time to rent and a time to buy. And believe it or not, there are times in which it is smarter (or possibly more suitable for you) to rent than to buy. Here now are 5 super smart reasons to keep renting and feeling good about it:

1. You don’t want to put down a huge lump-sum deposit at this moment.

-If you are struggling to save for a deposit, then ownership is not an option for you at the present moment. Renting would be a smarter choice.

2. You do not want to deal with continual maintenance costs and ownership responsibilities.

-If you have a rental property, the responsibility for the upkeep and maintenance of the property mostly falls on your landlord. However, if you purchase a property, you immediately take on upkeep and maintenance responsibilities. Bummer!

3. You strongly dislike the idea of price depreciation.

-If you bought a property, you will grapple with the risk of depreciation on your property. However, if you rented, you will not be affected by the risk of price depreciation. You don’t even have to bother. It’s your landlord’s burden to carry.

4. You want to live above the risk and stress of fluctuating market interest rates.

-If you own a property, your mortgage is subjected to rising interest rates, which would then also raise your repayment rate. If you rented, you have the option of negotiating with your landlord, plus the option of moving out and finding a cheaper rental property.

5. You prefer the feeling of being mobile.

-If you purchased a property, there is a sense that you need to commit to your responsibilities regarding the property, as well as being tied down to a particular location. However, if you rented a property, you have this feeling of personal freedom to be able to move at a short moment’s notice. So put away your guilt, and recognize that smart people do live in rental properties. Enjoy your rent without stress or care. Just make sure to pay your rent on time!