When we’re kids, we have an idealistic image of what adulthood will look like. We imagine we’ll grow up to own a beautiful house with a yard, white picket fence, and have two paid-for cars in the garage, one for ourselves and the other for our spouse.
If only life were that simple!
A record-high 36% of all households now rent instead of own their home.
Of course, it’s still possible to achieve homeownership, but the journey to get there is more difficult than ever before.
This raises multiple questions: Should I rent or should I buy? When is the right time to switch over to homeownership? Is renting really just throwing money away?
In this article, we’ll cover the budget-based factors to help you consider which options may be right for you. In addition to your budget, we’ll also discuss the lifestyle considerations that you should factor into your decision. So, let’s get started!
The post Renting vs. Buying: How to Decide What’s Right for Your Budget originally appeared at The Budget Mom.