What if we just rent for the long haul...

[Anonymous]

Anonymous wrote:Follow Ramit Sethi.

Like Dave Ramsey, Sethi is disconnected from reality.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We've been renting for 8 years and I don't see it changing any time soon. We can't afford to buy in our neighborhood and our landlord, who lives in FL, makes it clear every few years when we renew the lease that he's happy with the situation as-is. I don't pretend to understand his plan but he charges us less in rent than I would every pay for a mortgage and I don't see any reason to move unless he raises the rent significantly or decides to sell. At this point we are waiting out our youngest, who is still in elementary, to get into middle school and then we might explore a downsizing move because our oldest kids will all be in college or beyond.

For those saying it keeps you from being a part of the community, my kids and I have never felt on the outside as renters. Maybe if we were only here a few years and things were constantly changing it would be different. We join the local pool every year, our kids attend the schools within walking distance, and we are fully included in the neighborhood in the ways that matter to my family.

You should be renting in a less expensive neighborhood to save more money and then purchase in that neighborhood eventually.

You admitted yourself you can’t afford the neighborhood so your solution is to RENT where you don’t accumulate any equity.

You’re essentially leasing a car you can’t afford to buy.

I’m the PP and you are 100% right, we are absolutely doing the real estate version of leasing a car we can’t afford to buy. And I am totally fine with that. We have all the benefits that come along with living in our neighborhood without being house poor, or living in fear of not being able to afford our life should there be an emergency or crisis. If we had not been able to find this house at this price, we would not have rented in this neighborhood. But we did, and it’s the right choice for us for lots of reasons. We know that we are sacrificing equity, and when we compare that to the benefits of our decision, it’s a sacrifice we feel comfortable with.