Interesting thing about Renting
So via Meryl's blog I found THIS. It's not a bad article ... it's actually pretty good and it's not that I don't agree with her ...
But.
There's always a but, isn't there?
Her point is that you shouldn't buy something just because you can afford it. True, true. Just because I can afford $200 shirts doesn't mean I should buy them. Just because I can afford to drop $300 at dinner doesn't mean I should. By my logic (and this applies only to me) if I can afford a $200 shirt, I should buy a $20 shirt and put the $180 in savings for the taxes I'm going to have to pay next year.
But that's another blog. :)
I just wanted to point out one thing about renting ...
You're throwing money away. You're essentially making your land lord wealthy and draining your own cash supply. Now, buying right now in her area seems like a mistake due to the falling values of homes. I see that. I do not advise that she buy or would even question her reasoning for not buying. It seems sound.
But she doesn't point out that renting is a pit. You're throwing money into a dark, dark lake and you're never going to see it again.
Owning a home is a risk. You take a risk that you'll lose money. But, you also take the risk that you'll break even or make a little. And that means that you're better off than having rented for years.
Just one girls opinion.
But.
There's always a but, isn't there?
Her point is that you shouldn't buy something just because you can afford it. True, true. Just because I can afford $200 shirts doesn't mean I should buy them. Just because I can afford to drop $300 at dinner doesn't mean I should. By my logic (and this applies only to me) if I can afford a $200 shirt, I should buy a $20 shirt and put the $180 in savings for the taxes I'm going to have to pay next year.
But that's another blog. :)
I just wanted to point out one thing about renting ...
You're throwing money away. You're essentially making your land lord wealthy and draining your own cash supply. Now, buying right now in her area seems like a mistake due to the falling values of homes. I see that. I do not advise that she buy or would even question her reasoning for not buying. It seems sound.
But she doesn't point out that renting is a pit. You're throwing money into a dark, dark lake and you're never going to see it again.
Owning a home is a risk. You take a risk that you'll lose money. But, you also take the risk that you'll break even or make a little. And that means that you're better off than having rented for years.
Just one girls opinion.
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