Every time someone tells me that renting forever is a terrible financial decision, I smile and politely tell them to take a hike.
Yes, it’s true — when you rent, you’re technically paying someone else’s mortgage. But here’s the thing: I don’t mind. In fact, the idea of renting for life is actually very appealing to me. And no, it’s not because I’m bad at saving or I don’t dream of a forever home. I just believe that renting is a valid lifestyle choice, especially in Malaysia.
Let me tell you why I’m perfectly fine with renting forever.
🏘️ 1. Escalating Housing Prices in Malaysia
Let’s be real — property prices in Malaysia are ridiculous. Even when demand was low during the pandemic, prices didn’t really drop. In Q1 2022, over 35,000 completed homes remained unsold, worth over RM22 billion, according to NAPIC.
So why are prices still high?
Well, developers are dealing with rising costs of raw materials, and those costs get passed on to buyers. Plus, Bank Negara Malaysia’s OPR rate remains at 3.00%, making borrowing even more expensive.
Add the Klang Valley’s constant infrastructure development into the mix, and it’s no surprise prices keep going up.
🛠️ 2. No Maintenance Worries
One of my favorite perks of renting? No surprise repair bills.
Something breaks? I call my landlord. No need to worry about fixing leaks, faulty wiring, or repainting walls. Homeowners, on the other hand, are fully responsible for all that — and it’s never cheap.
🏊 3. Access to Awesome Amenities
Want a gym, pool, or 24/7 security?
Most rental apartments and condos offer these perks for free (included in the rent). Buying a home with these amenities? That’ll cost you big time. Even apartment owners still pay monthly maintenance fees.
As a renter, I get all the perks — without the price tag.
🧾 4. No Property Taxes or Hidden Fees
When you rent, you don’t pay:
These costs can add up to thousands every year. I’d rather keep that money in my pocket or invest it elsewhere.
📍 5. Location Flexibility
Renting gives me the freedom to live where I want, not just where I can afford to buy.
Property in city centres? Outrageously expensive to own. But renting? Still manageable, even in hot locations like KL, PJ, or Bangsar.
I don’t have to settle for a location I dislike just to “own” something.
🏠 6. Easy to Downsize (Or Upgrade)
At the end of a lease, I can decide to move somewhere cheaper or more spacious — depending on my lifestyle and budget.
Homeowners? Not so easy. Selling a house involves legal fees, agent commissions, renovations, and even real property gains tax (RPGT). And if you’ve spent a lot on renovations, you may not even get a good return.
🔌 7. Lower Monthly & Utility Costs
Renters usually have fixed monthly payments, stated clearly in the lease. While landlords can increase rent, they must give advance notice, giving me time to plan.
Also, rental units tend to be more compact and efficient, leading to lower electricity and water bills — unlike landed homes which cost more to cool and maintain.
💬 Final Thoughts: Renting Isn’t “Wasted Money”
A lot of people say, “You’re throwing money away if you rent.”
I say: “You’re throwing peace of mind away if you buy without being ready.”
Yes, homeowners build equity. But they also take on a lifetime of financial commitments, upkeep, and hidden costs. Renting gives me freedom, flexibility, and financial control — and that’s more valuable to me.
So no, I’m not rushing to buy a house.
I’m renting forever — and I’m completely okay with that.
💭 What About You?
Are you Team Rent or Team Own? Share your thoughts in the comments — let’s have a real conversation about what works best for you, not what society says you should do.