Grant Cardone, real estate titan and founder of Cardone Capital, has said time and time again that Americans should rent instead of buying homes. And, in April, he provided seven reasons why:
If you don’t want to click the post to see the full list, here’s a summary of his seven reasons:
- Apartments have better amenities, such as pools and gyms.
- Rents are half the cost of a mortgage today with interest rates at 7%.
- The average down payment on a home is 20%. Instead, renters can keep that cash or invest it.
- Renting presents a shorter commitment, such as a 14-month lease instead of a 30-year mortgage.
- Apartment living provides renters with an immediate community of people with similar interests.
- Renters do not have to pay for maintenance.
- Homeowners insurance and property taxes are “exploding” for homeowners.
Back in November, Cardone sparked controversy with his candid views on homeownership. Speaking on “The Money Mondays Podcast,” he stated, “If renting doesn't make sense at half of what it costs to pay the mortgage, how does the mortgage make sense, which is just a fancy bullsh*t word for paying rent for 30 years to the bank.”
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