Image by Getty Images via @daylife
It’s a familiar dream — a home is craved, with a picket fence framing luscious acreage, a porch swing rocking gently in the summer heat. Your life has been dedicated to the notion of purchasing the perfect property. It’s an aspiration that was thrust upon you by the generations that came before, and you’ve wanted nothing more than to fulfill it.
That… is proving to be difficult, however.
Owning a home is not the simple task you once assumed it to be. The initial financing needed — for a hefty down payment, mortgage requirements, property taxes, association fees and more — is staggering. You must be able to offer thousands of dollars to a structure before you can even claim it. And the years that will follow will only demand more and more of your money (with decades often passing before rewards are finally earned). The process of purchasing seems suddenly less appealing.
And so you turn to the option of renting instead.
Individuals — like yourself — who lack the immediate funds needed to buy a home are encouraged to rent. Properties can be leased at considerably lower rates. They require only a monthly fee (which may even include utility expenses). This makes them far more efficient for those who are not yet willing to empty their bank accounts. Insurance may be the only additional cost that is needed; and even this isn’t standard, though it is recommended.
Owning a home is a worthy dream. It’s not, however, always a practical reality. Renting instead provides a less demanding alternative — with dollars saved and frustrations lessened.
