Why as a millennial I chose to rent as opposed to buying
And it wasn't just for the avocados.
Around the time Luke and I began talking about moving in with each other there were a whole heap of articles about Millennials buying up properties. We had decided to rent. And reading articles about 19 year olds buying homes made me fell darker than the midnight sky. Honestly, it made me feel like shit. Going on five months of living with Luke in a house we are renting I do not regret our decision to rent rather than buying. Here is why.
All the reasons why we decided to rent as opposed to buying.
x This was our first time living with each other. So even though Mum suggested buying, and the stacks of articles did too we wanted to rent purely because it was the 'big step' in our relationship. We didn't need or want to combine it with another 'big life step' of buying a home.
x I was against buying because down the track (like three or four years) I'd have no idea what I would want in a home. What our needs would be. And how things would have changed. So finding something that suited us for right now was the go.
x We don't want to live here for ever. I mean this house is stunnnning. And nearly perfect. BUT we want to experience apartment life back in the city, live in a van for a month travelling and live by the seaside all before settling down into a house that is 'just right'.
x I truly value home ownership; and I can't wait to own one in the future. But at this stage my priorities are much different. And buying a home is shifted way down the list. Honestly, getting 'better' and figuring out what i wanted in life was top priority.
x Unfortunately Luke and I have debt already. So getting out of that debt comes before owning a home. Saving for our first home isn't on the cards right now, rather we are putting money back into our debts and saving for travelling or buying some things to make our current space cosy.
I truly admire and applaud people who own their own homes. Particularly those of my age. But at the same time I'm so happy with the decision I've made to rent. Renting or buying is such a personal decision. So if you're in that stage of life, you've got to make the best choice for you! What are your thoughts on the topic?