Why you should rent instead of own

Engelo Rumora, FLT Columnist

On a daily basis I speak to a ton of people that are caught up in living the “American dream.” The story line goes something like this: A) Finish college; B) Find a well paying 9-5 job; C) Get married; D) Buy a highly leveraged house; E) Have kids; F) Find a better paying 9-5 job; G) Up-size to a bigger house and bigger mortgage; H) Send kids to college; I) Down-size to a smaller property; J) Hopefully live and enjoy life for another 20 years without having a mortgage forcing you to get out bed every morning.

Does this sound like you and your future plans? I would like to challenge you today to get out of your comfort zone and eliminate this status quo way of thinking. The four key benefits of renting versus owning are as follows: 1) You don’t have a mortgage; 2) You don’t have to pay more than you can afford; 3) You get to be more mobile and can move freely; 4) You don’t have to worry about costs and maintenance issues.

Make sure to attend our monthly real estate Meetup group. To learn more about the Meetup group, visit: http://www.meetup.com/Toledo-Under40-Real-Estate-Meetup, and also RSVP for upcoming Meetups.