That is what smart money columnist advises. Forget the conventional wisdom about renting. It turns out that renting is one of the smartest investments you can make.
In fact when economists run the numbers they find that renters save an average of $560 every month just by choosing to rent over buying a house.
And don't worry about losing out on the investment potential of a house. Renting allows you to use your "down payment money" for other investments, which provide a higher return than real estate, even in a booming housing market.
As a case in point, a $100 investment in housing in 1985 would be worth $293 today, while that same $100 placed in stocks would be worth $1146 - nearly four times as much.
When you add up all of the potential liabilities of home ownership - hidden maintenance and insurance costs, rising property taxes and potential price drops - renting is a smarter choice from the start.
Live smart; rent from the leading apartment home community in the Lynchburg area: HHHunt. For more information on apartments in Lynchburg, VA contact Walden Pond Apartment Homes.
National Multi Housing Council