why do people rent apartments instead of buying property? (Houston: for rent, condos)

[GeekyGeorge]

we are currently renting a 3 bed-room apartment...because we might or will get relocated by the company in the near future...but i tried to convince my husband to rent a house (since its only for a mere $12 more monthly), he didn't want to, saying that we have to buy our own appliances etc..which is utterly rubbish because i found houses for rent come fully equppied with appliances..

I just want more space for our child and a yard for him to play in...

[texas7]

Some people are cut out to be homeowner and others are not. There is a lot of maintenance to be kept up with in a home. External appearance of home, lawn, etc. With an apt. you are on responsible for the inside - some people like that.

[BadJuju]

And the fact that owning a home ties you down to that place.

[d2mini]

Food for thought.
why-your-home-is-not-the-investment-you-think-it-is: Personal Finance News from Yahoo! Finance

[Topaz]

The OP put "buying property" in the subject line of the post but then asked about RENTING a home. Two different things.

If you think you will be relocated, definitely don't buy anything.

But yes, I do think renting a home is usually a better deal. The prices for apartments are really high for good ones and it is nicer to live in a house with a yard if you have an active child.

[GeekyGeorge]

well...either way, i am still curious as to why people choose to rent

[Lost_In_Translation]

Originally Posted by GeekyGeorge

well...either way, i am still curious as to why people choose to rent

well, houses are terrible at short term payback (<5 years the fix fees of selling and buying a house are usually greater than the equity you put into one)

In a market as uncertain as this, nobody wants to own a property continually losing value, upkeep can be expensive (though it doesn't have to be)

Sometimes people can't afford to buy where they want to live, so they rent instead (condos vs. apartments are a whole other discussion).

[dobguy1]

One thing about buying houses is where you buy is key. A property can be beautiful but comes with a price. I bought property with 3 acres in NC a steal with 1700 sqft. Nice property with a creek, what I didnt realize that the whole street was owned by the same family(rednecks) who lived like they owned even my house. I would find things stolen, weedwackers, my drive mower gas cans books everything under the sun.....In the end I lost the house after paying 5 years and watching the principly go down 5000 and the equity non existant....The propert when i left was appraised at between 40,000 to 50000 which is rediculous. I paid 107,000 I lost my credit rating and almost my mind trying to fix everything that went out, ac well pump you name it....The previous owner was always around when he wasnt in jail trying to jerry rig stuff to make it work...It was a lesson noone want s to go through...so in short when considering buying make sure you check out the area especially at night....

[Sampaguita]

Originally Posted by Topaz

The OP put "buying property" in the subject line of the post but then asked about RENTING a home. Two different things.

If you think you will be relocated, definitely don't buy anything.

But yes, I do think renting a home is usually a better deal. The prices for apartments are really high for good ones and it is nicer to live in a house with a yard if you have an active child.

We rented single-family houses when we first moved to the Houston area. Apartments of similar quality were pricey but much smaller sq footage and no yard.

As far as choosing to rent, we did for a few reasons but mostly because we wanted to get to know the area before buying. So glad we did because we went from being north of Houston (The Woodlands) to SW of Houston (Missouri City). We're now in our house for the long haul but I would think it's completely understandable for families to choose to rent over buying if they're going to just be reassigned in a few years. And as already mentioned, not everyone can buy where they want to live so they opt to rent. Along with that, when we were looking at apartment options on the Sugar Land/Missouri City border, we were told that a lot of families were renting in apartments to get their kids zoned into specific schools.

[DJboutit]

A lot of people have bad credit so owing a home is out & overall it cost lot more to own a home than renting a apt