IS RENTING A RIGHT CHOICE FOR YOU?
It’s true that when you’re paying rent you’re not gaining any equity in that home so for some that means you’re just flushing your money down the toilet, BUT there can be an upside to this decision too. Perhaps you’re new to an area and you’re not sure if your job is going to be permanent…or you’re not sure if this is the area your want to live in long term…or you aren’t financially in a position to put down a decent down payment that would give you a best mortgage rate….or perhaps you can only afford so much a month and by renting a property where the rent includes utilities, HOA fees and all maintenance you don’t have those added expenses. Plus, remember, you’re not paying real estate taxes on top of your monthly payment. This may allow you to live in an area you desire but as a homeowner could not afford. Perhaps you’re downsizing or retiring and don’t want all the stress and upkeep of home ownership.
Perhaps, you have your own reasons for choosing to rent instead of own at this moment in time. Don’t let other’s shaming you for choosing to rent instead of own cause you to make the wrong decision