Rent Or Own - Is The American Dream Changing?

Living in a rental is a different experience for every family. Each person that rents rather than purchases a home has differing opinions on the subject. For many families, a lease is an opportune way of giving themselves a temporary housing solution that will enable them time to save up a down payment towards purchasing their own home. For them, owning a home of their own is the ultimate goal. Why? Perhaps owning a home has become symbolic of the American Dream, of figuratively making it in the adult world and proving that they are capable of sustaining themselves and providing for their families. It is a measure of success to own a home for many people, but not for all people.

Is it fair to say that if you do not own your own home that you have somehow failed yourself and your family? Despite the opinions and propaganda of real estate companies and home improvement centers, the answer is a resounding no. A person can happily sustain themselves and their family in a rental situation. I say happily because if the furnace breaks or the garbage disposal conks out, the owner of the home is the one who must fix the problem, not the tenant. And quite honestly, not everyone has a desire to have a thirty to fifty year mortgage around their financial neck. Who wants to be 250,000 dollars or more in debt? It seems ridiculously silly to some people, putting oneself at the mercy of the financial institutions only to eventually face the prospect of selling the home when they grow tired of it. Not only that, but the property taxes, insurance costs, upkeep and improvement of the home will be a huge responsibility until the time comes to finally sell. Perhaps they will make a little bit of profit, if the market is strong. Perhaps they will barely break even. Will it be worth all of the effort and stress? That depends on the individual.

Choosing a rental , on the other hand, offers many families a sense of freedom. They have no mortgage, only rent. They have no property taxes or homeowners insurance to pay. Should they grow tired of their living situation, they can move easily and without months or even years of trying to sell a home that they no longer want. Living in a rental can be every bit as wonderful as owning a home, and in some ways, even more wonderful. Of course there are always tenants that have the attitude that it is not their home so why should they bother. These are the tenants that pain the home owners the most. People who leave and do not clean up their messes, and people who disrespect the home itself are problem tenants that unfortunately pop up from time to time. There are bad apples in every barrel, but that is true no matter where you look in this world. Thankfully, only a handful of the apples are rotten.

Many families are amazing and responsible tenants, who go the extra mile to make small home improvements on their rental just for the sake of adding beauty to the place. Whether it is a new coat of paint in the bathroom to liven up the space or a beautiful herb and flower garden in the front yard, tenants can take pride and even feel a sense of ownership to some degree when they live in a rental . After all, it may not be their house forever, but it is their home for right now, and to many people, that means more to them than financial ownership ever could.

Lake Charles RV Storage

View Staff’s Profile Subscribe via RSS