Image by james.thompson via Flickr
The quest for the perfect home begins — with you stalking every listing, bounding from avenue to avenue. All properties are examined… and consequently discovered to exceed your prince range. A budget was established long ago (with your bank accounts deciphered for every possible penny). You know what you can afford and that amount is far too limiting. To receive the home you want would demand high mortgage payments and the looming threat of foreclosure. All of your savings would be flung toward a structure.
And that… does not appeal.
Owning a home is a goal you’ve maintained since you were a child, when the need for stability was considered paramount. That need hasn’t subsided, but it has been transformed. You understand that the value of money diminishes when applied to property and earning enough to compensate will take time — as well as renting.
The notion of renting is too often dismissed. Individuals assume that it is the kin of waste: with dollars lost each month to a landlord and no equity secured. The truth favors this process, however, for those wishing to save. The cost of leasing a home is far less than generating a down payment (and the interest that it requires). The fees are not as strenuous, and the costs of repairs and maintenance can be avoided.
This is vital — allowing individuals to accumulate money through the years, sparing themselves the loss of their paychecks. A budget can expand and the result can eventually be the ability to buy the right home for the right price.
Renting is a short-term option with long-term rewards.
