We will be renting our next home, and will probably never look back at being homeowners. My husband and I are both fine with that, and the following article discusses what I’ve read elsewhere about renting. http://www.forbes.com/2009/10/23/real-estate-advisor-personal-finance-high-end-rentals.html?partner=email
Given the housing market in our area we could rent two places for what we’re paying in mortgage. We plan to move out of Stockton, Ca, about 30 minutes away to a lovely community and rent for just a little over half of what we pay on our mortgage now. Maybe we’ll even be able to have some money to retire with. There’s a novel idea.
a thought or two…
AHHH the joys of renting – there are some. Renting is not what it used to be. We are in a lovely home, well maintained both inside and out, in a community with unbelievable amenities which we are entitled to enjoy. A gardner comes once a week to care for the yard. All this is included in our very reasonable rent. Our rental agency and our home-owner were not at all concerned with our foreclosure history, given the economic times we are all suffering through. We have found peace and quiet after a long storm and I almost hesitate to say this, but leaving the house was worth it. Having owned a brand new $409,000 home that dropped in value to around $160,000 in far less than 3 years was incredibly upsetting, but the heighborhood was crumbling around us and we could not find any rational reason to stay.
Now we are free of it all and enjoying life again.