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The biggest dilemma to the new generation that is debating the idea of either renting or buying a home is what can they afford. Although most young adults feel that buying home is impossible, they don't realize the possibilities and opportunities if they do. The best thing for a young adult to do is to rent a home with a couple of friends, with the idea that you can make the minimum in payments and save as much as possible.

When buying a home you have many more opportunities available to you. Not only will you have the credit in having the house and security of having the property, but you can always rent the property out. If you have the house paid off you can use the money you are using for rent on a better or bigger place, you could even rent it out to an organization like section 8 that will not only pay you for the property, but will itself pay for any repairs needed due to damage by the tenant. If the property is not paid off there is always the idea of renting a room to someone to help you cover the monthly payments, but knowing that you will overall come out with the security of having the property in your name.

The best opportunities will come with owning your own home, but there is nothing wrong with renting, as long as you are being responsible and saving.

Learn more about this author, Angelica Kukahiko.
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