Comments on: 8 Pros and Cons of Renting a House http://christiancommoncents.com/2011/01/09/8-pros-and-cons-of-renting-a-house/ Your Biblical Guide to Personal Finance Fri, 29 Sep 2017 14:54:35 +0000 hourly 1 https://wordpress.org/?v=4.8.2 By: Daisy http://christiancommoncents.com/2011/01/09/8-pros-and-cons-of-renting-a-house/#comment-774 Sun, 16 Jan 2011 17:10:43 +0000 http://christiancommoncents.com/?p=666#comment-774 Interesting. I still think owning a home is better. either way, you have to pay for housing. In 25 or so years, you won’t have to (if you don’t refinance your mortgage) and you’ll also be able to sell + get almost all (if not more) of you money back.
But that’s just me.

]]> By: Will @ HackingTheBank.com http://christiancommoncents.com/2011/01/09/8-pros-and-cons-of-renting-a-house/#comment-771 Wed, 12 Jan 2011 15:54:33 +0000 http://christiancommoncents.com/?p=666#comment-771 Good list. You did a good job of making a list of the arguments that keep floating around in my head, haha. I agree that over time inflation works in your favor when it comes to the mortgage. I like that you highlighted that a primary house is a poor investment. Because houses seem to simply keep up with inflation over long periods of time (Google: Case Shiller index), it’s a pretty crummy investment vehicle itself. Particularly due to the risk of losing your entire investment if you have a down period yourself financially. I fully intend on buying a house at some point, it’s just a matter of when, and how I will pay for it. The biggest reason for me is to simply have something I can call my own and make any changes to it I want.

]]> By: Derek Clark http://christiancommoncents.com/2011/01/09/8-pros-and-cons-of-renting-a-house/#comment-770 Tue, 11 Jan 2011 05:49:13 +0000 http://christiancommoncents.com/?p=666#comment-770 Well it depends on a lot of things. First off, you probably aren’t going to be able to rent the same place for 30 years, so you have to consistently find something that is cheaper to rent. Certainly that is doable.

Then, the bigger problem, is that you have to keep up with inflation. When you are paying a mortgage inflation is working in your favor. The entire 30 years you have the same payment assuming a fixed mortgage. So by the end, you are paying with less valuable dollars, and in theory the house will be worth more than you paid. If you are renting during that time, your rent will go up over time, and the house you are buying at the end will be more expensive.

It can certainly be done, but I don’t think I’d recommend renting for 30 years. You should be able to save up enough that buying a house makes more sense sooner than that.

]]> By: Eric http://christiancommoncents.com/2011/01/09/8-pros-and-cons-of-renting-a-house/#comment-769 Tue, 11 Jan 2011 01:35:14 +0000 http://christiancommoncents.com/?p=666#comment-769 Derek, good post and fair with each side of the issue.

If someone decided to rent at a rate below what owning would normally cost them per month on their budget, could they save the difference and call it an “equity” account? At the end of thirty years, would they be able to buy a house cash?

Keep up the good work,
Eric

]]> By: twentysomethingmoney http://christiancommoncents.com/2011/01/09/8-pros-and-cons-of-renting-a-house/#comment-768 Mon, 10 Jan 2011 06:44:55 +0000 http://christiancommoncents.com/?p=666#comment-768 One of the pros i find from renting, is i really don’t have much responsibility. Sure, I have to change a lightbulb, and sweep once in a while… but if anything major happens, its not my problem!

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