Long term Renters?

Just wondering if there are any renters out there who plan on being long-term renters because they choose to. (meaning those who could afford a house but would rather rent?)

If that description fits you, can you explain why you would rather rent long term? Pros/Cons?

Also, do you rent in a community or from a private person?

Thanks.

Re: Long term Renters?

I have rented for a few years now, but am in buying process.

While I don't plan on being a long-term renter, I know (from hearing it from friends and myself) one main reason many choose to rent long-term is you have a lot of extra disposable income if you have a place with a great rent price.

You also don't have to pay for any issues that crop up, the land lord does.

Re: Long term Renters?

That is what I have been thinking about.

We have a lot going on with our house (too much for LIF) but every other day something else is broken.

Right now we have no heat (thank god its summer), no hot water, a clogged tub, and a leaky shower.

Right now its just laying out so much money. Plus there is a lot more work that NEEDS to get done (and of course work we would LIKE to do).

I just feel like this is a really bad money pit and are trying to weigh out some options.

The only disadvantage is the backyard. We have 2 black labs and 2 kids and a back yard is always so nice!

Re: Long term Renters?

you can always rent a house....

Message edited 5/20/2010 9:22:45 PM.

Re: Long term Renters?

I'm a renter...although we would eventually like to buy a house, I dont think we will for a few more years.
Honestly, dont feel like dealing with all the responsibility that comes with owning a home. I also like the sense of freedom that comes with renting....after lease is up, you can pack up and move.

We're also not sure we want to stay in NY/NJ area much longer, so it would be easier for us to move without having to worry about selling a home.

Edited to add:
We rent in a complex. I don't have to worry about nosy landlords, etc.

Message edited 5/20/2010 9:48:51 PM.

Re: Long term Renters?

This is us. I am new to the area, though DH is from here, and not ready to commit to a certain town. DH's parents are pushing us to buy, but I don't think they understand the amount of money we need at closing. Plus there is not a lot of new construction where we live, so we'd have to sink a lot of money into it.
Anyway, we rent a 4 bedroom house, and right now it's just the 2 of us. We plan on TTCing this summer, and don't see any reason to leave right now. We have a huge yard and entertaining space, and tons of storage. Our landlord is a builder so there are many upgrades in our house, that we couldn't afford to have if we buyed. Plus DH is by no means handy. I'm tired of people saying renters are throwing away money, no I am paying money for housing right now, just like any other bill.
I do have a house in DE that has been gifted to my sister and me, so that can be more of an investment for us.