I will never buy a home. I will not. I will not. I will not. Why?
I don’t want to buy a home. I have very valid (at least I think so) reasons for not wanting to buy a home and personally, I am very content with my decision. I’m a very happy tenant. 🙂 <— Happy Face. Lol.
- I like my freedom and living options. I once considered moving to Pennsylvania. It was a bit of a spur of the moment decision but I was not working at the time and my lease was running out and I found a place up there that sounded wonderful. I contacted a property manager there, viewed a few places and seriously considered the relocation. I booked a hotel for a long weekend to enjoy the town and a few potential job prospects and during that weekend the town lost its luster for me. I discovered that most of the nighttime hang-out places were not places I would frequently visit, I found that the sports bars there did not have the type of environment I enjoyed and the town did not have many job prospects for my career field at that time. I ultimately decided not to move to Pennsylvania and I renewed my apartment lease in Florida. It was a simple process. If I had decided that yes indeed, I did want to move then all I had to do was tell my property manager I was leaving, tell the new property manager I was coming and pack. If I had owned a home I wouldn’t have had those same options and it would not have been so easy. It would have been more of a game of put the house on the market and hope it sells. <— That is not the way I like to do things. I like things to be easy.
- Speaking of easy… Renting a home/apartment/condo/townhouse is easy. It’s very easy and it is so much less stressful providing that you rent through a property manager or an association, it can be difficult if you lease directly from an individual landlord. The way I rent places though, it’s easy. I sign some papers, pay a month or two of rent and I move in. Not to mention the maintenance. If my air conditioner, heater, garbage disposal, refrigerator, or ceiling fan breaks. I call the property manager and it gets fixed. If my toilet, shower, or pipes leak I call the property manager and it gets fixed. It doesn’t cost me a penny. It’s just one phone call and then *ta-da* it’s repaired. If I owned the place then I also own the problems which means I pay to have it all fixed. Have you ever had to repair an air-conditioner or an underground leak? It’s expensive.
- Speaking of money…it’s cheaper. I can move in to my new place for about $1200-$1500. If I were to buy a home how much does it take to move in? Well, it takes however much the down payment on the home is and aside from VA Loans and First-Time Homebuyer Programs you can estimate about 20% of the purchase price for the best interest rate. If the purchase price is…I don’t know…say…$160,000 then you are looking at about $32,000. $32,000 to move in? or $1500? I’ll keep my money thank you very much. Not to mention, sometimes you can find a place where water and sewer are included. For example: a few years ago I rented a really beautiful 3-bedroom apartment (Yes…three bedrooms for a single woman. It was lovely.). It cost me one month rent plus a small deposit to move in, a total of $936.00. The apartment complex included water and sewer in the rent. My rent was $686 per month. Now consider this, a friend of mine bought a house. She put $8,500 down on her 3o-year mortgage for a 2-bedroom house. Her mortgage payment was $851 per month and she had to pay her own water and sewer bill which averaged approximately $75 per month. I paid $686 for rent and utilities for a 3-bedroom apartment. She paid $926.00 for a mortgage payment and utilites on a 2-bedroom house. Oh…anyone questioning square footage, they were about the same and I had more closets.
- The declining and constantly unstable real estate market. I present to you, for an example, an excerpt I read from an online article today, “Even if prices stabilize this year, millions of underwater borrowers face a long wait before they can sell their homes without having to write a big check to their lender to cover the shortfall. Economists at Goldman Sachs recently forecast that after bottoming in 2013 house prices won’t recover their 2006 peak until 2023. (No, that’s not a typo.)” Yep. 2023! Congratulations on paying wayyy more for something than it’s worth.
- I can still do whatever I want with it. People say to me, “Oh, but you can’t decorate it like you want to decorate! You can’t paint the walls or hang your pictures.” I can’t??? That is news to me. I’ve always painted my apartments and hung my pictures and decorated however I wanted to and there’s no reason why I can’t. I have only had to say to my property manager, “I’m thinking of painting my living room” to which they have replied, “That is fine. Please paint it white before you move-out.” Ok. No problem. How is that bad? I have two choices, I can paint it white again before I move out or I can leave it painted, sacrifice my deposit, and let them paint it. No big deal.
I could go on and on and on but I won’t. The point is I’m happy renting places, my husband is happy renting places, and it works out well for us. It is a lifestyle we have chosen and a lifestyle we prefer. I get tired of people assuming that tenants are renters because they can’t afford a home or have bad credit, sometimes it is just a preference.