Renting could be better for you

[thohome]

With the uncertain times of our housing market. Renting may be the best option for you than buy.

Renting can save money.
According to popular myth, renters are just throwing their money away. But the reality is that when you buy a home, you’re paying for closing fees, mortgage interest, property taxes, private homeowners’ insurance and maintenance—costs that return nothing on your investment.
There are more options available to renters. With fewer houses and condos selling, more owners are converting their properties into rentals or providing incentives to lure prospective tenants. In condo-heavy cities such as Palm Beach, Fla., for example—where the vacancy rate has jumped 2.5%—investors are undercutting apartment rates to generate interest. “A lot of people are offering three free months to attract renters,” says Robert Smith, a real-estate adviser in Orlando, Fla. “And modern apartments offer amenities that may be unaffordable in a new home.”

More : Great reasons to rent
By Mike Hammer
These are some really great reasons to look into renting rather than buying at least for now. I have told all my kids stop trying to buy a house first and test the waters with renting first. That way if your into deep its much easier to get out of than a mortgage you can't afford.

[flippinout]

On the other hand, there are advantages to buying. Yes you have all the extras, property insurance, property taxes, etc. but if you look around, you can find a really nice house, for a reasonable price and the payments wont necessairly be as high as you think.

We bought a 3 bedroom, ranch style home, with full basement, and garage, for $22,000. Our yearly cost, for house payment, insurance, and property taxes, runs us under $4000. a year.

You cant rent a house for that, plus we have complete control over who can come to our house, how long they can stay, etc. Some rental contracts dont allow much in the way of visitors and having someone stay with you for couple of weeks is completely out of the question in some rentals.

There are still options for mortgages out there. Plus, you can rent with option to buy in some cases.

I like the fact that we can paint when we want to and dont have to have anyones permission to do so. We can also have pets.

[badmomma]

Renting can be great but there is no feeling in the world
like owning your own home. I also love the fact that I don't
need someone elses permission to make changes.
When you rent you need your landlords permission to paint.
A smart renter will get this permission in writing and have any
stipulations like returning the room to its original color before
moving included on the paper. Cover your behind before you
cover those walls.

[thohome]

Oh I totally agree after living in Military housing 13 out of the 18 years in the Military and renting for 3 years after we retired from the Military. I wanted my own home to do with as I please and not have to keep the walls white or answer to anyone about anything.

[badmomma]

My daughter currently lives on a base. They get into trouble
for weeds in the sidewalk etcetera. It disturbs me that they put
so much effort into such small things and ignore the bigger issues.
I don't like the fact that military personnel are paid so poorly. These
kids have to fight so hard to balance their budget on a next to nothing
paycheck. Its time for a raise folks after all when they are called to duty
they will answer and will die to protect their country if that is what is
asked of them.