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What's so bad about renting forever ? I am a millennial, I am not planning on buying a house pretty much for ever, I don't see it be a problem
by maxencecornet 7y ago
What's so bad about renting forever ?
I am a millennial, I am not planning on buying a house pretty much for ever, I don't see it be a problem
- hellisothers 7y agoOne problem is (for better or worse) home ownership stands in for a forced savings account, especially for retirement. If you rent forever but also max out your 401k or Roth then cool, if you’re renting and also not saving for the long term then...
- maxencecornet 7y agoGotcha, I am not a heavy spender, save most of my salary, this must be the reason why I don't see renting forever as a problem
- deleted 7y ago[deleted]
- ghaff 7y agoA few possible non-financial negs. You may have trouble renting the type of property you want. You can’t modify the property for the most part. You’re exposed to the property just being taken off the rental market. Regularly moving probably isn’t a big deal in your 20s but there comes a point where it’s less desirable.
- sdinsn 7y agoIf things don't change, home ownership is the only path to retirement for us millennials.
- trcarney 7y agoOwning a property is generally a better financial move because it locks down what is usually your largest monthly expense and then after some years, its paid for. This really becomes a bigger issue when you want to retire. Think how much less of a retirement income you would need if you didn't have to pay rent.