Here's Why Some Feel It's Better To Just Rent For 1 More Year...  

...and are giving up on buying a home right now

Time and Money

it always comes down to those 2 things

price and value always need to make sense on a BIG purchase

and timing is a huge part of any decision

for those that are renting right now

and have an affordable place to live that works for them

they could absolutely be tempted to avoid the time and cost of moving

rent + security deposit + moving truck can add up quickly

and it can cause a lot of people to feel stuck where they are

the question then becomes

when will the circumstances ever be 100% perfect to make the big leap?

the answer is that its unlikely that things will ever be pefect

there is a 1 time pain to own a home

and it involves some change, in order to break a cycle of renting

despite all of the challenges, there are still some that are focused on buying

let's take a deeper look at the true cost of things

• 1st month rent can be similar to 1st mortgage payment
• security deposit from your current rental is refunded at move out
• you may have friends with trucks to avoid the cost of a moving truck
• you typically don't have a mortgage payment due the 1st month

there are a number of scenarions where the cost owning a home

is about the same as it costs to rent a home

there are still people that believe that you need a 20% down payment

to purchase a home with a mortgage

when in fact that are a variety of options avaialable with 0%-5% down payments

and in many cases, a monthly mortgage payment is similar to renting

today's podcast get's down and dirty with the numbers

and breaks down the financial impacts of renting vs buying