March 29th, 2009
Why I’ll never rent a home again
The Benefits of Home Ownership
For many years I rented apartments. It was the only way to live at that time, because of my transient nature. However, once I found myself living in the same city with a stable job, I realized that the money I was spending each month renting an apartment was simply money flying away from me with no return. It was then that I decided to buy my own home. Now, for roughly the same monthly rate as a rental, I am building equity in a piece of property. The money is giving me future value, not just flying away into the ether. Home values tend to go up as time goes on, so the dollars I invest in my home mortgage should yield a higher return down the road, if I ever decide to sell or borrow against the value of the home.
