1. no property taxes
These will be factored into the rent. You think the landlord is paying it for you?
2. no maintenance fees. Call landlord when something breaks.
Hopefully your landord maintains his property, and you don’t break anything out of negligence. These issues can lead to nightmare scenarios.
3. renters insurance costs less than homeowners insurance
Who pays insurance? …biggest scam around.
4. earthquake insurance costs less on a rental (yes, make sure y’all have that earthquake insurance)
How many people pay earthquake insurance?
5. if you’re just getting into the market, rent is much cheaper than a mortgage
I believe that is correct, but how much is much?
6. I can afford to rent in neighborhoods where I can’t afford to buy
It’s easy to jusify a reason for doing something, when it suits us, but the whole point of owning your own home, is the freedom and sense of ownership it gives you, otherwise we wouldn’t do it.
7. No money spent on the constant improvements. No ongoing projects.
I think that comes under repairs above.
8. Husband has more free time, since he’s not gardening, fixing, building, improving, and being a guy in his castle. More time to work on hobbies and spend w/ family.
For some, improving their home and gardening are their hobbies.
9. No ties to a depreciating asset.
Unless of course it is appreciating …which happens after the downturn …usually.
10. No mortgage, no debt. Financial freedom.
But you are still having to pay rent, which is paying somebody else’s mortgage, your landlord can increase the rent, and he can thrown you out.
I am a renter, and a landlord but only agree with 5). The only reason you need, not to buy is you can’t afford it, or don’t want to pay silly prices. The rest of it is swings and roundabouts.
