Reply to Mid thirties/ embarrassing to still be renting

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[quote=Anonymous]Anybody that tells you that buying is ALWAYS financially better than renting doesn't know anything about economics or math, really. Its dependent on several factors, including your purchase price, interest rate, current rent, and how long you intend to stay in a purchased home, among other things. Some that purchased have made poor financial decisions under the antiquated notion that we all have to buy to be adults and that it is always a good investment. Do some study and you'll find these things are not always true, which should help with your self-doubt.

Plus, renting allows a significant amount of freedom and flexibility that many find important. Home maintenance costs should also not be underestimated.

It is not a cut and dried answer and its nothing you should feel bad about. I'm 40, still renting, as are almost all of my friends (all professionals, all six figure salaries). My rent is SIGNIFICANTLY lower than a mortgage on a comparable home/condo would be...I'm more than content to keep banking this cash and investing it for the time being. If my rent creeps up enough I'll reconsider, and will be in a much better position to buy more if/when that happens. [/quote]

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