Renting is a great option in this down economy, and here are a couple of reasons why you should stick to renting an apartment in Lynchburg, VA:
Flexibility to move. If something happened to your current job situation or if you find a better opportunity, you won't have a house to tie you down to a geographic location.
Financial obligations. If you get laid off or if there's an emergency that costs you money you can't afford, you can always easily downsize your living situation which costs less if you're a renter.
Being your own landlord can be tiresome. As a renter, you don’t need to be responsible for maintenance and home repairs.
No added debt burden. There is no risk of foreclosure if you can’t pay your housing costs. By renting there is no obligation of a few hundred thousand dollars worth of debt hanging over your head for the next few decades.
The economy is still unpredictable. Sure, experts are saying the housing market has hit bottom and it's the best time to buy a home. There are also experts like who say that the economy is not yet recovering; instead another economic slowdown is coming. Some predict that the next slowdown will be worse that what we've experienced in the past few years.
The decision to rent or own is personal one, only you know your situation best. Do your homework and weigh the risks before you commit to one of the biggest investments you'll make in your life.