We are renters. Renters. Makes me feel like some sort of second-class unworthy sort. I feel the need to explain to everyone that we are renting, why we are renting and that we are not big losers that make poor financial decisions. I actually think our choosing to rent is a good financial decsion, except I still explain it as though I need to convince others, and myself that we are worthy. Worthy of what? Not a clue.
So why are we renting, not buying in this time of great housing prices and the "buyer's market" out there? Well in the interest of true transparency we were losers that made poor financial decisions at one point, sadly we were like many others out there who are a paycheck away from financial ruin and that are really scared about their futures. We are not those people anymore. We have owned 2 homes and done a pretty significant amount of work on both. When we sold our last house it was at the end of the housing boom and we lost our butts on that sale, but saved our marriage. We knew when we sold that house we needed a break from house projects and wanted to enjoy our family without the constant pressure of painting, landscaping, replacing, you name it. Someday I'll tell you about our last house...
So we decided to get our financial house in order and get rid of our student loan debt, old credit card debt, and not dump money into a house right now. We became avid fans of Dave Ramsey's Financial Peace University, and are working so we can have not only financial peace now and in the future but have our money to save and give and share in the future.
I want to buy a house, today, but I realize that to buy a house today we wouldn't be buying the house we want, we would be buying a house to have a house, which is what I think got so many people in the foreclosure crisis our economy is in today. The house we can afford and the house I want are not the same house and I would be forced to compromise on a lot of things. So instead I am making the choice to wait, doing my best to silence the "Gotta Have It's" that have made so many problems for others with easy credit and crazy mortgages. My mom always says we are the "microwave generation" and no one can wait for anything. I don't think she realizes how widespread that is. So many people today have to have what it took their parents 30 years to save for, does anyone else see a problem with that?
Thus, I am a renter, and we are renting a lovely home that is a little small, but has a big yard and lots of character. We are saving a lot of money on rent, and our landlord isn't making out too badly either, we take care of this home as if it were our own. We will continue to rent until financially and emotionally our home is a blessing, not a burden.
The apple and the tree
5 weeks ago