Random post here.
I just decided to ask more publicly something that I always ask myself when I hear it said in conversation. The question is, why do renters feel they get nothing in return for paying for rent?
I have heard this for years – “rent is throwing money away” and of course ” when you rent you get nothing in return”.
I do not agree. I have purchased 2 homes now and my apartment rentals made me a lot happier than my homes have in terms of living experience.
- When I rented an apartment, not for nothing but I are got a place to live.
- When I rented an apartment, I met new people.
- When I rented a home I lived in lofts in downtown hip areas.
- When I rented an apartment, I had someone I could call to fix what was wrong (which was rare) for free!
- And while I didn’t appreciate the value back then, when I didn’t want the apartment anymore, I left it.
It has been my experience that there are many different ways to build wealth, not just home ownership.
It also been my experience that taking care of a house can be a pain in the rear (it can also be wonderful).
An unfortunately it has been my experience that home ownership can be an anchor tethering one in place even though the sea calls. For instance right now, I couldn’t sell my house at a price I needed to make it worth it. My area hasn’t recovered the same as NY, DC and San Francisco yet.
I think it is time for new verbiage in describing home renting. It is definitely not nothing anymore. It just might be a good thing, too.
What do you prefer, renting or owning a house?