Although most people consider home ownership to be an essential component of the so-called American Dream, there may be specific circumstances and reasons why it may make more sense to RENT instead of buying a house! Each individual must enter into this process, in a well considered and focused manner, to understand what course of action may be wisest for them, at a specific point in time. These considerations should consider one’s specific emotional, financial, and needs, and anticipated future scenario, etc. With that in mind, this article will attempt to briefly consider, examine, review and discuss, using the mnemonic approach, what this means and represents, and why it may be a prudent course of action.
1. Important; region; move; Bookings: Start by getting checked out, from the neck up, and proceed in the most personal and relevant way. What is available in today’s real estate market and how well does it meet most of your needs and requirements? Sometimes in the region you want to live in, there may not be anything currently available that meets your needs, so you may decide to rent, for a period, looking for the right home for you. Will you be living in a specific area, for the foreseeable future, or will your job create a need to move? While you may have the finances to buy, do you have the necessary, required, reserves associated with owning your own home?
2. Emotional/emotions; Expectations; efforts; energy; bills: Will the residence meet your emotional needs and requirements? Will your emotions allow you to exceed your personal expectations? How might your personal efforts and energy be related to either ownership or rent? Are you prepared for the sometimes uncertain expenses of owning, versus the most consistent, when you rent?
3. Needs; nerves: If you can’t find a home that makes you happy and meets and/or exceeds your needs, you should probably continue your search, rather than settle for something that won’t make you happy. Will you be able to control the nerves of home ownership, the transaction period, as well as the possible uncertainties that accompany ownership?
4. trends; flavors; trends: Are you convinced that specific current trends are only available when it comes to owning, rather than renting? Are you willing to address the tastes that only possession allows you? Are any trends making your search more essential?
If you own, or, RENT? How could you handle and proceed with one of the most essential decisions most people have to consider?