People Shared Reasons Why They Basically Plan To Rent Forever, And *Very* Important Points Were Made
"I like to move around, and the thought of being tied down to one city is suffocating."
It's no secret that the housing market is pretty wild right now. And while there are so many reasons why buying a home is a great financial and lifestyle goal, there are also a ton of reasons why it just isn't the right move for everyone.
1. "There are two reasons: one is that you can't leave easily. Between mortgages and having to find a buyer, you're basically trapped there for long periods of time with no option to move."
2. "I like to move around, and the thought of being tied down to one city is suffocating. It would make me very anxious knowing that I can't just pick up and leave whenever I want. I need that flexibility in my life."
"I have no interest in maintaining a home, either. I really like just calling maintenance and going about my day without having to dip into my savings."
3. "If an appliance goes, all my husband and I need to do is call the landlord. The only thing we have to pay is our rent. No worries about yard work either. If we want to move, we don’t have to sell anything to move onto the next one. I don’t think we’ll ever own a home."
4. "I've just never had the desire to own a home. Too much upkeep and maintenance that I really don't want to deal with. It's just too expensive."
5. "Yard work. I love not having to mow, weed whack, pull weeds, shovel snow, take care of icy patches, rake leaves, pick up sticks…you get the idea. I also like being able to call maintenance if something breaks or happens that I don’t know how to fix. But mostly, I hate yard work!"
6. "I’ve never been a fan of commitment in general, and I love moving to different cities every few years, so the thought of a 30+ year mortgage is a non-starter for me."
"Also, I would hate to have to be responsible for house repairs and buying new appliances. I’ve been lucky enough to have great landlords, too."
7. "I’m in my forties. I wouldn’t say 'never,' but I have no interest right now. I have a demanding job, and I'm busy enough as it is. I want to spend my precious free time with my family and relaxing. Not mowing lawns, cleaning gutters, and doing the endless fix-its that are needed around the house."
8. "Because I live in one of the most expensive places in the US, and it's hard for me to leave. Doing so would mean losing my support system and uprooting my family. That, and I love avocados."
9. "It's not that I don't *want* to own a home — it's just not feasible right now because every home in my area is selling practically instantly, and for WAY over asking price."
10. Lastly, "I'm in my early thirties. My partner and I have decided that we'd rather rent modestly. Our incomes combined can afford us something comfortable, but we're both on the same page about paying cheap rent and saving our money to do things we love like traveling and vacationing with ample time off."
"Owning a home is a big accomplishment for most, but if you think about what you're actually buying and where, sometimes paying things like property tax or HOA are always going to be constant even once you've paid off your home. Is it any different from paying rent anywhere? And not to mention the costs — having to upkeep the property can add on to more debt and bills."
Aspiring homeowners, now it's your turn! Tell us your biggest reason for wanting to buy a house.
And while you're at it, don't forget to check out some of our other personal finance posts.
Note: Submissions have been edited for length and/or clarity.