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Reasons to Rent

There are circumstances when renting can be a more attractive housing option than ownership, and such a view is being voiced more and more frequently by Americans. As our culture’s ideal shifts from the traditional “American Dream” to a more customized and personal experience, many are finding that renting is the most appropriate lifestyle option. Why?

Let’s face it, we live in a different society than the one our parents did. How many people do you know who look forward to graduating in order to find a job with a company where they will work until retirement? According to the Bureau of Labor Statistics, the average American changes jobs an average of nine times before the age of 34. Not being tied to a thirty-year mortgage certainly opens up the options for career/lifestyle changers. Furthermore, a study at the University of Chicago reports that Households will move further away from the family-structure model of a stay-at-home mother, working father, and children. Change is the only constant, and renting meets the needs of a changing culture better than owning a home.

Less Risk
In a period of economic uncertainty such as the one we live in, the motivation to rent is stronger, and for some, the obvious choice. Renting is a more undemanding and less risky financial transaction than owning. The costs of selling a home are considerable, and the risk of unforeseen moves greatly increases owners’ costs.

Lower Costs
The costs of renting a home are generally less than the monthly expenses of owning the same home. Aside from the obvious appeal, consider the following benefits:

Free Time
With Americans facing the ever-increasing struggle between work and life activities, there is an appeal for freedom from homeowner related responsibilities. With relatively limited free time and greater accessibility to leisure pursuits, many opt for playing – not working on the house. Some have time for both, but when forced to make a choice, many are choosing to spend more time living their lives and less time repairing and maintaining properties.

Simplify your life, simplify our world. Consume less. As John O. Andersen states in his Case for Renting, “Basically, we do not have anywhere to put the stuff.” He supposes that if his family had more space, they’d buy more stuff to fill it. His theory is that home ownership is conducive to accumulation of material items and consumerism. It makes sense to add the interesting point that apartment communities use land more efficiently and help prevent sprawl. Not to mention the accommodation of overpopulated communities.Renting offers specific benefits to people who are in transition periods such as changing careers or going back to school. It also offers specific benefits to those who have time-consuming hobbies or major interests outside of the real of the “homeowner-related activities.” Most importantly, renting offers the broader advantages of flexibility, less financial risk, savings, more free time, simplification, and most importantly – a sense of freedom.