You have a stable job and a solid nest egg. Time to buy a home, right? Not necessarily
.
Renting, on the other hand, gives you more freedom to relocate as desired. Sure, you have a lease to consider, but those typically last just 12 months, and you may have the option to sublet if you can find a new tenant. So you can more easily jump at a career opportunity across the country or simply try a different neighborhood on for size.That level of flexibility can also provide relief if your financial situation changes.
“Owning your own property just takes more time,” says Kenny Kline, an entrepreneur in Brooklyn, New York. “Dealing with maintenance, the co-op board, the occasional construction project all takes more time and stress than you realize.” “We’re seeing things like bowling alleys, boxing rings, golf simulators, massage rooms, salt saunas, basketball courts, movie theaters, recording studios and wine cellars,” Morrison says, noting that many of her clients can afford to buy but choose to rent in part because of the amenities new buildings offer. “These luxuries are significantly more common in rental buildings than condos.”
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