5 Reasons It's Ok That You're Still Renting

— -- intro: Just when you think you have answered the age-old housing dilemma, your lease is up and you have to consider it again. You have plenty to think about when deciding whether to buy or rent your next property. And if you’ve been here many times before, you may wonder if you are making the right decision by renting. Check out the top reasons you may be smarter to keep renting.

10 Rules You Need to Know Before Buying or Selling Your Home

quicklist:title: You Don’t Plan to Stick Aroundtext:

The top reason you shouldn’t buy a home is if you have an uncertain future, or even know that you will be moving to a new location in a short amount of time (under five years is a good general rule). If you don’t know where your path is headed next or want to be open to accept new opportunities, it might not be a good idea to commit to a mortgage, just to worry about selling the home in a matter of months. Plus, with all the upfront costs associated with buying a home, you could lose more money in the long run.

quicklist:title: You Can’t Handle (or Don’t Want) Responsibilitytext:

Having a landlord who takes care of all your home’s upkeep is a huge advantage of renting. Maintenance is a big part of homeownership and if you don’t feel up to the challenge, you may want to stick to renting and maintain a clear line of communication with your landlord.

quicklist:title: You Need Time to Build Your Financestext:

Many people hold off on buying a home because they aren’t financially ready. If you need more time to save up for a down payment or want to improve your credit score so you are in better shape to qualify for a mortgage, you may want to keep renting until you are financially ready.

More From Credit.com: Check Your Credit Score, Report Before Buying a Home

quicklist:title: You Have Other Financial Priorities Right Nowtext:

Maybe you are focused on building up an emergency fund or saving for retirement. Whatever your financial priorities right now, if using a big chunk of money as a down payment doesn’t align with them, you might be better off waiting.

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quicklist:title: You Want a Nicer Neighborhoodtext:

Renting can sometimes allow you to live in a better neighborhood than buying would. Perhaps you can buy a home but it would be in a less than desirable school district. You might decide that it’s better to wait until you can afford to buy a place where you actually want to live. (Here's a calculator that can help you figure out how much home you can afford.)

Any opinions expressed in this column are solely those of the author.