by: Dan The Roommate Man
Realtors have benefited from a new variety of homebuyer in today's market: the young, single professional. It used to be that most single men and women resigned themselves to a somewhat transient, short-term renters' lifestyle until Mr. or Ms. Right came along. That's not the case anymore. With more and more people delaying marriage until their careers have assumed the direction they wish to take and due to the fact that a greater percentage of young people are financially independent and quite successful single professionals are changing from renters to buyers.
At the same time, however, many renters are content to stay that way. Although buyers will talk your ears off about the advantages of permanency and ownership, diehard renters enjoy the freedom their lifestyles provide. From hassle-free maintenance to the record number of luxury amenities present in new properties, many renters are perfectly content to stay that way.
However, the majority of people, whether single or married, will at some point ask themselves, "Am I ready to buy?" Buying one's first home is a major step for anyone. Is there a "perfect" time in one's life to make that transition? What are the advantages and disadvantages associated with renting and buying? Each one has its pros and cons. The following list can help you consider the inherent hassles and positives of both.
Renters...
Buyers...
This direct comparison clearly shows that neither buying nor renting is the "perfect" choice. Depending upon your lifestyle including such factors as the stability of your career, how often you travel for business and whether or not you plan to reside in your current hometown for a long period of time either choice has plenty of valid advantages. The multifamily housing market has exploded nationwide during the last decade, offering renters more advantages and more amenities and more flexibility in housing styles than ever before. And yet, the dream of homeownership is firmly implanted in the minds of most Americans. It's a worthwhile and significant achievement to be sure. Thanks to the success of the multifamily housing industry, however, renters no longer have to resign themselves to cookie-cutter accommodations until the dream of homeownership is within their reach that is, if they ever choose to reach for it.