Saturday, October 17, 2009

Analogy

There's a school of thought that if you're renting, you're completely throwing your money away. I don't feel that way. I think I'm getting my apartment in exchange for my rent. Yes, I have to keep paying for it, but I also have to keep paying for food and utilities and toilet paper. But some people from this school of thought have told me that it's a waste to rent since I do want to own a condo someday, and I should buy something - anything - so my money is going into building my own capital. I prefer to live in the most optimal conditions possible even if I have to rent for longer before I can afford to buy, but people from this school of thought think I should buy something - anything, anywhere - and I can always move or upgrade later when I can afford it.

Here's an analogy for that line of thinking:

"You're wasting money taking those birth control pills! After all, you do want to have children someday. So you don't have enough money or a big enough home or a partner who's interested in parenting any children you might pop out? No biggie, you can always get those later."

2 comments:

laura k said...

Excellent! As a lifelong, childfree renter who has no intentions of buying, ever, I heartily approve!

Anonymous said...

Also, in a condo you're paying condo fees plus property tax. If the underground parking lot needs resurfacing or they discover substandard work on the roof, you're on the hook for what could be a substantial lump sum. Renters are vulnerable in other ways, of course, but they can walk away from things that condo owners are stuck with.