Reply to Question for renters..Aren't you tired of paying someone's mortgage?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Do you forever renters worry at all about the future? I can't imagine going into retirement without a paid roof over my head. You think rents are high now - what do you think they will be in a few decades?[/quote]

Rent is high for my family right now because we need the extra room for kids. By the time we retire, we can downsize. I can't imagine I'll want to maintain and keep up a big house and yard when I'm retired. I'd rather have an apartment (like I have now) and be free to travel and visit my kids.

Plus, renting allows us to throw money at retirement, rather than saving for a down payment. We pay under $3K for a 2bd apartment in boundary for a good school in DC. Our commutes are less than 30min, we can get away with owning only 1 car and only using aftercare through school. We still have student loan debt we're paying off as well. To own in our neighborhood (in our condo complex), we'd have to have [i]at least[/i] $50K for a down payment, (that's with impeccable credit, with our credit, we'd need more) and jobs that pay much more than what we have now. Or we'd have to move to a marginal neighborhood or far out suburb, increasing our commute, changing our kid's school and increasing the time he's in daycare, buying another car and generally lowering our quality of life.[/quote]

+1[/quote]

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