[header] How to understand mortgage contracts [title] Choose to buy. [step] For most young adults, renting property is the preferred method of housing. When you rent a home or apartment, it tends to be cheaper than buying a home and you have flexibility regarding where you live and how long you live there. 
However, when you buy a home you build equity, which means you will be building cash value in that piece of property. Also, when you own a home, you can take tax deductions for any mortgage interest you pay.