5. Sharing expenses
Millions of people are better able to shoulder the expenses that come from living on their own only because they are able to share expenses with roommates. Where mortgages are concerned, it can be difficult for people who are not married or otherwise related to being approved. That means the responsibility usually falls to one person to make the payment as far as the lender is concerned. When a roommate fails to come up with a payment, a lender is only going to blame the person whose name is on the mortgage. Renting often provides more options for roommates by offering individual leases that make each roommate responsible for their own payments.