Michelle Vaughn
THE HOUSEHOLD · WEDNESDAY
I bought my first house at nineteen, and owning worked well for me then. Today I rent on purpose, and I love where I live. I have never felt that the rent check was money thrown away.
I'm not completely sure I'll stay in this spot forever. There are still family decisions up in the air, and I'm not ready to settle on a house. Where I live also gives me things I value now: neighbors, activities, a pool, a meditation pond, and maintenance that somebody else handles.
They brought in a painter to teach us, with canvases, wine, and snacks. We have movie nights and games. I have a community there. That's part of what I'm paying for, along with a place to live and the freedom to leave when I'm ready.
My landlord benefits from the arrangement. I know that. Buying has people who benefit too. There isn't a version of housing where nobody is getting paid, and knowing that doesn't make either choice wrong.
If you're comparing renting and buying, start with your actual life. How long do you expect to stay? What responsibilities are you willing to take on? Compare the costs beyond the rent check or mortgage payment, including insurance, taxes, maintenance, and the costs of moving in and eventually moving out. Use numbers for the places you're really considering.
I'm debt free now, and buying a house with cash is something I'm considering for my next step. I still think a mortgage can be inexpensive borrowing compared with other debt. I'm working through what I want for myself, and I haven't settled all of it. You don't have to adopt my next step to ask whether the choice you're making fits the life you have now.
Hit reply and tell me: what does your housing payment give you beyond a place to live?
Michelle Vaughn
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