We are currently in the process of settling into our new home in Fruita, Colorado. This move came quickly and we are enjoying our new home so far.
Ever since I announced that we are renting our current home, I have received many questions. Some for some reason have given me flack for deciding to rent, whereas others understand why we made this decision.
While we loved owning our last home and there were many positives, owning this time around would be a huge hassle.
I believe there are positives and negatives when trying to decide whether to rent or buy a house, and our reasons for renting this time around clearly outweigh buying.
Below are the many reasons for why I'm excited to rent a home. Hopefully the below will help you decide whether you should rent or buy a house as well if you are stuck in a similar situation.
We are new to the area – deciding whether to rent or buy was an easy one.
We are new to the Colorado area so deciding whether to rent or buy a house at this point in our lives was a clear decision.
Buying a house when you don't know the area much and aren't forced to move there doesn't make much sense to me. This could be a disaster because we could actually end up hating where we live but we would then feel stuck if we had bought instead.
That is not a situation I want to be in, especially since we do not have to. This is a big positive of being location independent since we can choose exactly where we want to live. I would rather take my time and make sure I am making the correct decision since I have the ability to do so.
We don't know where we want to be next year.
While we are enjoying our new town of Fruita so far, we are still very new to the area as I discussed above. We still want to explore the whole state of Colorado to see where we eventually want to live. We also are still toying with the idea of moving to the beach one day and that may happen as well.
If you can't tell, we are all over the place when it comes to where we actually want to settle down next.
This is why we decided to go the rental route with the rent or buy question. Buying right now when we don't know how long we even want to be here wouldn't make much sense.
Renting this time around makes sense because this way we can be more location independent. We don't want to feel stuck in one place so renting is the perfect solution for us. If we end up not liking Fruita or even Colorado as much as we thought, we have the ability to easily pick up and try another place.
We haven't found anything amazing yet.
Even though we aren't sure what we want to do next, we have searched online for homes and nothing has really spiked our interest. We know what we want our next house to have and we are somewhat open to the location, but haven't found it yet.
We don't plan on buying again until we find the exact home we want. We both want the next house we buy to be a house that we live in for a long time, so we are taking our time to find the perfect location and the perfect house.
We don't want to go through the hassle of selling another home.
Selling our current home has been somewhat stressful so far and I have talked about this in my recent post Should We Keep Our House Or Sell It?
This is definitely not something I want to go through again any time soon. Owning a home is great, but selling one is not. If it turns out that we do not like where we live, I would rather just pick up when our lease is done and move, instead of having to deal with the hassle of selling a home. This is another clear choice when answering the buy or rent question.
We don't have to deal with homeownership costs as a renter.
One great reason about renting is that if something happens out of your control, such as crazy weather or something needing to be replaced/repaired, all I have to do is call the landlord.
Of course, I am still going to treat this house just as my own and take care of everything. However, as everyone knows, homeownership can be a little costly and stressful because you never know if something will break.
As a renter, all I have to do is pay the rent each month. I don't have to have an extra padded emergency fund for home repairs, because that is not my responsibility.
What do you think you will do next, rent or buy a house? Do you regret the decision you made last?
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