Renters Bliss

While there are quite a few downsides to renting, I thought it would be nice to highlight some of the less obvious up sides (of course the obvious upside is that, at least in our area it is so much less expensive than buying).

--The thing that has been the best about renting, at least for us, is the ability to “test-drive” a neighborhood. If we were really ambitious we would move into the neighborhood I currently covet, to make sure it’s as great as I think it is.
--In times of economic turmoil, its beneficial to be relatively mobile. Not needing to sell your home in order to take a new job is a great benefit of renting in times of uncertainty and high unemployment.
--If personal circumstances change, you can easily downsize to a less expensive place.....if gas gets too expensive, you can move closer to work, and if you family size grows or shrinks you can easily "right size your home".
--Similar to item one above, if a neighborhood that you initially liked, with all its new homes etc. starts to crumble before your eyes, you can move with little to no cost (as opposed to those who bought and would have to sell for a loss in order to get out).
--While we treat our rental better than we would our own house, when our potty training kid accidentally pees on the stairs on the way up to the bathroom, I can take consolation in that at least its a rental!

In many respects, as some have pointed out in the past, Renting is very similar to an option on the housing market and you life circumstances.