Reply to Validate my view that long-term renting is a valid lifestyle choice

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Reply to "Validate my view that long-term renting is a valid lifestyle choice"

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[quote=Anonymous][quote=Anonymous]I'm a renter by necessity since I've moved around so much for work, now staying in the DC area for the long term and wondering this myself. I'm happy enough renting and can't really afford a townhome or SFH with the commute I want here currently, suspicious of condos as not much of an improvement on renting financially or in quality of life terms, but concerned that rents are going to rise faster over time than my salary while home prices also rise faster than my savings ability. I'm really not aure what the right answer is, keep renting for the lifestyle or buy somewhere far out and hate it for the sake of security.[/quote]

Here’s the problem - you’re living in an area you can’t afford.  You say you can’t afford to own with the commute you want.  But farther out is where you should probably be living given your financials.  Yes, rents will keep going up over time and eventually you’ll be a renter FOR LIFE.  If you want to be financially responsible, you should rent a cheaper place farther out and sock away money.  [/quote]

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