Although homeownership can offer financial benefits like equity and tax deductions, there may still be good reasons to keep renting even when you can afford to buy, including easier mobility and more financial flexibility. Here are five reasons renting might make sense for you.

You want flexibility for future plans

Buying a home could easily tie you to a place for years. You can always sell, of course, but there are associated costs — and you could lose money if you sell too soon or are forced to sell in a down market. Renting, on the other hand, gives you more freedom to relocate as desired. Sure, you have a lease to consider, but those typically last just 12 months, and you may have the option to sublet if you can find a new tenant.

You do not have the time for maintenance

Homeownership is work. Yardwork. Housework. Maintenance work. All of that can be a drain. "Owning your own property just takes more time," said Kenny Kline, an entrepreneur in Brooklyn, N.Y. Kline previously owned a home, but went back to renting and has "never looked back," he said. "Now, I live in a well-managed apartment building, and all of that is taken care of for me."

You crave an atmosphere with amenities

Renting can give you access to perks like an on-site gym or a rooftop swimming pool. But some buildings go well beyond the basics, ­offering next-level amenities, said Sophie Morrison, a real estate broker in downtown Chicago. "We're seeing things like bowling alleys, boxing rings, golf simulators, massage rooms, salt saunas, basketball courts, movie theaters, recording studios and wine cellars." You like financial predictability

Yes, your mortgage ­payments remain stable, but maintenance costs can be unpredictable. Property taxes can also fluctuate, and not just because your home value increases. Cities can impose higher property tax rates, and federal laws can change (and have changed) how much you can deduct from your taxes. Buying a home comes with a lot more upfront costs, too. You have a good thing going already

Another great reason to keep renting? You love where you live. If you have a great house or apartment with a reliable landlord and below-market rent, follow the adage: "If it ain't broke, don't fix it." You aren't throwing money away by renting. In fact, you may be saving money if you live in a city where renting is cheaper than owning a home.

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