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I’m a Lifelong Renter by Choice: 7 Surprisingly Smart Reasons Why...

Many people take this to mean that I can't afford to buy a home, but that's not the case. Since I was just renting my home, the move was pretty stress-free. Consider, for contrast, what my options would be if I had owned a place—and hated my job, or was laid off. I enjoy maintenance-free living To say my husband and I are not handy is an understatement. And my apartment is huge. I’d rather invest my money If I were to buy the above-mentioned $569,000 home and wanted to put down a traditional 20% down payment, I’d need a down payment of $133,800, plus closing costs. My rent has only increased by 2% the past three years. (If you need help deciding whether renting or buying is more affordable, check out a rent vs. buy calculator to see which option is cheaper in your area.) Renting is more convenient To buy a home that I could afford—where my monthly payment would be about what I pay in rent—I would have to move about 30 miles away from where I live now. Homeownership isn’t a goal for me Traditional financial advice says that buying a home is a better choice than renting.