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Episode 3520:
Amanda Kruse reflects on how rushing into homeownership, driven by the belief that rent is wasted money, led to costly mistakes, hidden expenses, and unnecessary stress. Her story highlights the importance of cash flow, flexibility, and timing, showing why renting longer can sometimes be the smarter financial move.
Read along with the original article(s) here: https://womenwhomoney.com/we-should-have-rented-instead-of-buying/
Quotes to ponder:
"Buying a home can and does make sense for many people; it's a place of your own, and it builds equity. But it's not for everyone, and it doesn't always make sense."
"We bought into the adage that renting is a waste of money. I can't say precisely where it came from, family, friends, or society. No matter, it was there, and to us, buying a home felt like an urgent financial matter."
"Our mortgage payment was more than rent. Property taxes and homeowners insurance bumped up the monthly costs. And, since we had a small down payment, we had Private Mortgage Insurance (PMI) on top of that!"
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