December 24th, 2011
To Rent a Property or To Buy, That is Sometimes the Question

There are some places where long-term cost analysis-with only the bottom line in mind–shows that to rent a property is better than to buy. This was the case with San Francisco, for example, when I was considering moving there several years ago. Of course, as economic factors change, revisiting the question may eventually be warranted. If temporary rental is necessary-even for a period of years-or if buying simply isn't an option, then it goes without saying–thank goodness–that it's possible to rent! However, if there is in fact a decision to be made, then it's interesting to see what comes up for consideration besides the monetary concerns. For example, generally, it's a social norm to aspire to home ownership, but this may not be truly the best case for everybody…so how would it feel not to ever own one's own home? For some that wouldn't feel secure or stable or accomplished, while for others that may feel liberating. It's important for one to know all the factors of home ownership–monetary and otherwise–and then proceed with seeking the best options.

Photo source Kevin Shorter