Renting vs. Owning

I am beginning to notice the strange looks my husband and I get when people ask if we are planning on buying a house soon and we say "no." Some voice their opinions: "You're just throwing your money away by renting," "Why don't you build some equity?" "There's never been a better time to buy a house," "How could you turn down the $8000 tax credit?" Others decline from comment, but I can see that they think we are strange.

As Dave Ramsey says, "You know you are on the right track when people start calling you weird..." This is a comfort.

The fact is that I grew up in a family where NO ONE I knew rented. In fact, my dad owned several rental properties in our town and I used to go with him for maintenance runs. I even made friends with some of the kids who lived in the different houses. I got the impression that families who rented were just not forward-thinking people. They didn't know how to use their money wisely. And I assumed that I would grow up and own a home immediately.

When we first moved to Southern Indiana, in fact, we were looking to buy a home. No, we knew nothing about the area. Yes, we were just out of college and hadn't even had our first paychecks yet. In fact, Seth wasn't even hired on to his school corporation until the week before school began in August. But by golly, we were not the renting type. Actually, our families both seemed skeptical when we showed them a few houses on line. "Get to know the area first," they advised, much to our surprise. They were so right (and are, more often than not). Between their good advice and God talking some sense into us, we realized that we were in no way ready to buy a home. We asked the realtor we had been working with if she could help us find an apartment to rent. She gave us a list, I picked up the phone, and in one afternoon, we found the perfect apartment, where we still live happily today.

We never thought we would be here as long as we have, but God has revealed a lot to us about our finances and His path for our lives. First of all, we became convicted that we needed to get out (and stay out) of debt. I am excited to say that we have paid off a Lowe's card, a Visa card, two student loans and one car since the fall after we got married, but we still have a ways to go. Because all of our savings has been going to pay off debt, we do not have money set aside for a downpayment on a house. Not to mention the fact that we sense that we are entering a new chapter in our lives that may change our income significantly. Not to mention the fact that my husband and I both work as music educators, and as much as I would like to think our jobs are safe, I would not be surprised if, when all is said and done, they are not as safe as we would like to think they are.

I know that those who shake their heads at us in wonder really do care about us and are just trying to help. Deep in my heart I really do want a "piece of the pie!" In fact, I want that so much that sometimes (like now) I have to lay everything out in front of me to affirm the fact that we are making the right decision (for us) to remain renters at this particular time in our lives. I really believe that God has something special in store for us down the road; we just have to be patient.

And as for the argument that we are throwing our money down the toilet, I like to make a comparison to food. I eat because I must eat to sustain my life. Okay, I enjoy it immensely, but even if I didn't, I would still eat even though it does not make me any money. I pay rent and in return I get nice, comfortable, affordable shelter. Of course owning a home is a better investment, but making the food comparison helps me to see that whether or not money is being wasted is a matter of perspective.