Thinking of relocating? Do you prefer buying a house or renting one? That’s actually one of the questions my husband and I talk about when we plan on moving out. We’re currently live in my mom’s house and I think it’s a good idea to stay with our loved ones during the pandemic so we could support each other and provide each other’s needs. We just have to be really careful not to get infected and so far so good.
Things to Consider When Renting
Second, we also see to it that the place is a good location ; it’s near the mall, hospital, market, banks, police station, and other essential stores. Pandemic or not, I think this is something we should still consider when looking for a place to stay. The pandemic has affected a lot of people including landlords from tenants failing to pay on time. According to Zumper, the average rent for a 1-bedroom apartment in Minneapolis decreased by -4% to $1,150, and the average rent for a 2-bedroom apartment decreased by -6% to $1,500. Not only in Minneapolis, but I believe every county or even other countries have the same problem. But I believe this won’t be the case once jobs are back and when face to face schools are back. We’re one of those people planning the future on renting and I believe we’re not the only ones who thinks the same.
Third, we were considering to rent because we’re not sure if we wanted to stay long in that area. We did not picture ourselves to grow old or stay in that location for more than 10 years so that’s why we wanted to rent. Once the kids grow old then we probably would relocate to another area.
Fourth and most important of all, our budget only allows us to rent. We can’t afford to buy a house just yet. I also read in an article from BBC News that renting now is cheaper than buying a house. Now, this is a personal choice because if we really wanted to buy a house, we would coordinate with our local government housing agency and get a housing loan. The thing is my husband doesn’t want to pay monthly loans. If he could, he’d want to pay everything in just one go. He’s just the type of person who doesn’t want to worry about monthly dues. For example, in tuition fees he prefer to pay it for the whole year so he doesn’t have to worry about paying it monthly. What he does is he prepares for the exact amount of the tuition fee and pays it in cash. But when it comes to buying a house, at our current state, we still can’t afford to buy a whole house in cash and we could only afford to rent.
That's all for now! Do you have any comments/suggestions/reactions? Type them below in the comments and let's discuss it.
