Celebrities who rent instead of buying do not have to deal with taxes, landscaping, renovations, upkeep, etc. This benefit could be the same for you
A Starting Point
Renting versus buying always seems to be a hot debate in the real estate world. But, in a year full of twists and turns, renting might be the best option in terms of uncertainty. Ariana Grande has been a premier renter over the years, until the last month when she bought a home all her own in Los Angeles.
Still, Grande was a big-time renter of mansions. Even people like Jay-Z and Beyonce rented for a while in Malibu, albeit for $400,000. For the time of life, these celebrities needed to rent with so many things going on around them. By renting, they could have more flexibility and freedom to do what they want. This example of renting could be right for you, as well.
The Benefits Of Renting
When renting, you will not have to deal with wiring or hiring an exterminator. There is no need for painting or putting up wallpaper. With a landlord on your side, they get all the work done without you paying a dime.
The benefits of renting are not just about renovations and fixing things. Sometimes, people want to purchase a home as a future investment. With the market fluctuating, people do not want to lose money, so renting might be the better choice. For example, Kate Perry lost $1,000,000 on her house after her separation from Russell Brand. Other celebs who have lost money on a home include Christina Aguilera, Reese Witherspoon, and the basketball player Michael Jordan.
The Nobel Prize winner, Robert Shiller, the economist, has always been a proponent of not investing in a house. With depreciation and maintenance issues, buying a home is not valuable every time. Look at the 2008 recession, for example. Houses plummeted!
Another reason to rent instead of buy has to do with getting away. If you like to travel and are on the move for work, rentals are for you. Even if a problem occurs while you are gone, you do not have to worry about a thing. It will be like that Bob Marley song: “Don’t worry about a thing; every little thing goin’ to be alright.” You will be able to continue with your life and not let things stall. This benefit of renting is a big one.
Keeping Things In Focus
Even if you do not plan to rent forever, this experience can be a way to save up money on the house you ultimately want. Not everyone is patient enough to make this happen, but this is another reason to rent instead of buy. Do not feel pressured to hop right into the housing market when you are not ready. Renting is fine, just fine.
Celebrities who rent instead of buying also include Taylor Swift. The music artist, who just turned 31-years-old, has been renting for a while now. The luxury townhome in New York was practical for what she needed at the time. Swift could still spend her money on the things she wanted, instead of focusing on a home that she was not going to be in a lot anyways.
The average Joe should think about this, too. Whether the engagement is on the horizon or pregnancy, these examples do not mean a house needs purchasing right away. Take it slow and dream for a time when the right home comes along for the right time of life.
Whatever you decide to do, renting and buying are always on the table. Do not stress out during this time. Living in any home is a special occasion at any time. Enjoy the time of life and live it to the fullest. You will not regret the journey.