There is a really interesting debate going on in the comment section at one of the blogs I read. It is worth checking out if you are considering buying a house, selling your current house or are just interested in crunching some numbers.
Millionaire Mommy Next Door: Rent vs. Buy discussion
As a very, very wise commenter noted:
When we sold our house everyone said we were crazy. It has been almost ten years and people still ask us when we will buy another house. I don't see us ever being homeowners again.
I live in an amazing neighborhood that I wouldn't have been able to afford to buy in. We enjoy all of the benefits that you talked about (including living across the street from a huge park) and wouldn't change it for the world!
Ok, you caught me. I am that very, very wise commenter.
If you are a homeowner, what made you decide to buy? If you are a renter, what made you decide not to buy?
2 comments:
Wow. I really don't understand your philosophy, but I respect it and would like to learn more. My husband and I rented for the first 1 1/2 years of our marriage and then bought a house as soon as we could. I was 24 and he was 22--that was 11 years ago. With the refinancing we did 4 years ago, we will have our house paid off when I am 47. I anticipate having no more payments as feeling wonderful! Like with cars, we like to own something and not continually be paying for one, so we don't feel the need to upgrade our cars every year. There's a lot to be said for owning something outright. By the way, we are a single-income family and make a lot of sacrifices in order for me to be able to stay home. What are the perks to renting other than not having to worry with home maintenance?
I answered your questions here.
I hope that my disjointed thoughts help to explain why renting is the better option for us. If not, please let me know and I will try again!
Post a Comment