neorants

This article pretty much sums up my feelings on home ownership vs. renting. I have had a few discussions in the past where it’s been stated that by renting I’m “throwing money away.” Hearing this gross generalization is really frustrating to someone who very carefully weighed his options when making his current decision.

There are serious time and monetary demands that come with home ownership that renters don’t have to deal with, and since I wasn’t sure I’d be living here for very long, it didn’t make sense to put down roots just yet. Sure, I may pay a little more for the apartment I’m renting right now — I could find a cheaper place. But not much cheaper, at least not in a neighborhood I’d want to live in. And I have access to tennis courts, a fitness center, two pools and a hot tub, all within 100 yards of my home — none of this is stuff I could currently afford to have otherwise. It’s worth an extra $2400.00 a year or so to have all that stuff and a nice location, to me. It saves gas, time, and fitness club fees, among other expenses. In short, this was a well thought out choice for me. Actually writing it all down helps me realize just how well thought out it was.

Don’t misunderstand, I do want to own a home, but more for the same reasons mentioned in this article. Real estate is a good investment, and it’s good for tax deductions. Owning a home is the American dream. And I want to have a place I can say is mine, a place I can live for the rest of my life, God willing. It’s just not the right time for that at the moment. Soon, but not now.