why do people rent apartments instead of buying property?

[GeekyGeorge]

hmmm....very interesting.........

[testmo]

owning my home is cheaper than the apartment i was renting in the city in a high rent district (including adding my insurance and taxes to my mortgage payment)

i am saving money on that end and I know I would not want to have rented in the burbs or bought in the burbs so i am happy

but the first 6 months of owning my home i put in $19,000 in repair/maintenance on a home that was professionally renovated (mostly structural and interior). i knew I was going to do that when I bought the home because it needed it. some people buy a home and that kind of stuff becomes a suprise

some people can't fork $38k or more to buy a home than fall into $20k in repairs.

but in Houston there is no reason to not have a home when you pay $1,200 or more in rent a month UNLESS 1. you have horrible credit 2. you don't know how to save money 3. you are irresponsible with money 4. you hate being handy or doing maintenance 5. you don't want to be locked in anywhere for longer than a year

those reasons knock a lot of people and families out of home ownership