Contrary to popular belief renting a home doesn’t mean that you’re throwing your money away. As we’ve seen in the last several years property values have continued to decrease and the number of foreclosures have skyrocketed. While it is a great time to buy a home with record low interest rates and a flexible housing market, renting has perks that you maybe haven’t considered.
Just because you can buy a house doesn’t mean you should or are ready. Buying a house can be a bad investment. Until you are sure of your need as future homeowner and are ready to make the long-term commitment, consider renting.
Renting saves you money. Costs, such as property taxes, home insurance, and a monthly mortgages, can quickly add up and become overwhelming. There are plenty of great apartments and homes for rent. If you don’t have room for all of your belongings you should consider using storage facilities to keep your items safe and secure. Storage is also useful for storing seasonal items throughout the year.
Renting may be a more modest way of living, but it can also offer you peace of mind and freedom from the current market conditions and financial uncertainty.
Owning your own home is considered the American dream. However, take time to build your finances and save for a future when you are in a better position to buy.
There are practically a limitless number of homes, apartments, and condos you can choose from in most areas. This gives you the freedom to choose from many different districts in your city that offer great housing at reasonable prices. Research rental properties near you to find some excellent deals and your new home.