I know this is a long shot, but I'm just wondering if there are any lifetime renters (in the USA) in this subreddit. More specifically, anyone who can afford to buy a house, condo, etc. but chooses to rent instead.
I have one elderly relative in her mid-70s who briefly owned a house after divorce (received as part of the settlement), but she sold it several years later and has been renting ever since. She kept her living expenses low, and not owning a house relieved her of large, unexpected expenses (e.g. new roof or HVAC) and regular maintenance (lawn, snow removal, etc.). She has been able to save enough for retirement as a result, although having a pension doesn't hurt either.
The context of my question is that I'm Gen X and have been exclusively renting thus far, but I am contemplating buying the condo that I've been renting for the past few years. I'm getting cold feet because I'm used to paying rent and not having to worry about maintenance and repairs. I know it's an unsual stance because in the USA everyone is conditioned to buy a home and that renting is just throwing money away, but renting has allowed me to save more money over recent years, and I'm afraid that owning a condo or single family home would really put a dent in my savings when maintenance and repairs might be needed.
This might be a better post for the Personal Finance subreddit, but I am bringing this up through an emotional lens instead of purely by numbers. Thanks in advance for your feedback.
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Submitted September 08, 2017 at 01:52AM by ShoogyBee http://ift.tt/2wdPYiR
