To rent or to buy?

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To Rent or to Buy and How to Decide

The to buy or to rent debate rages on, and according to Forbes, renting may be a more savvy option for millennials. Here are a few reasons why you aren't necessarily throwing your money away by renting.

More perks and less responsibility
Rental properties are increasing their offerings to attract tenants. Perks like a gym, swimming pool, and laundry are hard to get in your own home. As a renter you don't need to waste your time on maintenance tasks but can reap the rewards anyway.

There's no guarantee you'll make a profit on the sale of your home, so renting gives you a sense of freedom. You can't predict market volatility and there's always an element of gambling with your asset.

Renting gives you flexibility
Millennials value flexibility and that's exactly what renting gives you. It can take months, or even years to sell a property, but renting lets you up and move as the rest of your life dictates. To make a property profit, you need to be committed for around 10 years. If that doesn't fit into your life plan, maybe it's best to opt for a rental.

Community counts
Many apartment complexes will give you a ready-made community. Having a doorman in a pre-established neighborhood can also be an important attraction.

In the end, don't write off renting as a waste of your cash, being free from a mortgage can also have its upsize.

Click through this slidewshow below to see the have, and ahave nots of NYC apartments.

9 PHOTOS
Haves, Have nots NYC apartments
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To rent or to buy?
In this Aug. 5, 2014 photo, Jean Green Dorsey walks outside the building on New York City’s Upper West Side where she has lived since 1972. Dorsey has a rent stabilized unit in a building that also houses market rate residents. As a rent stabilized tenant, Dorsey is not allowed to use the new gym that market rate residents use for free, even if she paid for the privilege. (AP Photo/Bebeto Matthews)
In this Aug. 5, 2014 photo, the front view of the Upper West Side, New York building where Jean Green Dorsey has lived over 40 years is shown. With her status as a rent-stabilized tenant, Dorsey is prevented from using the gym which is designated for market-rate residents only. A recent spate of buildings with separate amenities for the haves and have-nots is provoking an uncomfortable debate over equality, economics and the tightness of New York City’s social fabric. (AP Photo/Bebeto Matthews)
In this Tuesday, Aug. 5, 2014 photo, Jean Green Dorsey, who is a rent-stabilized tenant in an Upper West Side New York building is seated among shelves of books during an interview. Dorsey, who has lived in the rent stabilized apartment since 1972 when she and her late husband moved in, is not allowed to use the new gym which is available for market-rate residents only. Rich and poor have long lived side by side in New York. But a recent spate of buildings with separate amenities for the haves and have-nots is provoking a debate over equality, economics and the tightness of the social fabric. (AP Photo/Bebeto Matthews)
In this Aug. 5, 2014 photo Jean Green Dorsey, is seated on her sofa among shelves of books at her rent-stabilized apartment in New York City’s Upper West Side. Dorsey, who lived in the apartment since 1972, is among a growing group of New Yorkers who live in the same building with market rate residents. “Nobody treats me like a second-class citizen in my own home,” says Dorsey, who filed a complaint with the city Human Rights Commission this spring over her Manhattan building’s fitness center. She and fellow rent-stabilized tenants aren’t allowed to enter it despite a willingness to pay a fee; market-rate renters use it gratis. (AP Photo/Bebeto Matthews)
In this Aug. 5, 2014 photo Jean Green Dorsey, is seated on her sofa among shelves of books at her rent-stabilized apartment in New York City’s Upper West Side. Dorsey, who lived in the apartment since 1972, is among a growing group of New Yorkers who live in the same building with market rate residents. “Nobody treats me like a second-class citizen in my own home,” says Dorsey, who filed a complaint with the city Human Rights Commission this spring over her Manhattan building’s fitness center. She and fellow rent-stabilized tenants aren’t allowed to enter it despite a willingness to pay a fee; market-rate renters use it gratis. (AP Photo/Bebeto Matthews)
In this Aug. 5, 2014 photo Jean Green Dorsey, is seated among shelves of books at her rent-stabilized apartment in New York City’s Upper West Side. Dorsey, who has lived in the apartment since 1972, is among a growing group of New Yorkers who reside in the same building with market rate residents, but aren’t allowed to use amenities such as improved entranceways or fitness facilities that market rate residents enjoy. (AP Photo/Bebeto Matthews)
In this Aug. 5, 2014 photo, Jean Green Dorsey, a rent-stabilized tenant in a building on New York City’s Upper West Side, looks for documents on her desk. Dorsey and her late husband, astronomer, Dr. William Dorsey, moved to the apartment in 1972. Although she has been in the building in excess of 40 years, Dorsey is unable to avail herself of some of its amenities that market residents enjoy. (AP Photo/Bebeto Matthews)
In this Aug. 5, 2014 photo Jean Green Dorsey, stands in her rent-stabilized apartment on New York City’s Upper West Side. Dorsey, who has lived in the apartment since 1972, is among a growing group of New Yorkers who reside in the same building with market rate residents who denied access to amenities available to market rate residents. (AP Photo/Bebeto Matthews)
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