I’m sure you’ve heard plenty of reasons why you should buy a house and stop renting. It’s definitely nice to have equity, but does that make it the best choice for everyone? Maybe not right now. Here are three reasons you should keep renting…
The freedom: Perhaps you want to live at the beach for a while. If you own your home, you’ll have a lot of work to do before you can head to the coast. Plus, maybe you’d enjoy moving around and seeing different places. This isn’t necessarily relevant to everyone, but it’s something to think about if you enjoy traveling.
The work: I love owning my own home, but you definitely have to deal with lots of little problems when you’re a homeowner. If this thought annoys you, maybe just keep renting your nice apartment and let management worry about all those little things. Plus if you rent an apartment you don’t have to cut the grass.
The perks: Maybe you can’t afford a house with a pool or its own gym, but renting an apartment can provide you with both of those things. Nicer apartments might even include cooler perks like coworking spaces or a game room.
The price: We’re in a seller’s market. And if you don’t have a home to sell in order to buy a new one, you may be in for a shock.