Home sweet rental: in praise of renting
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Is renting just a temporary stop on the road to home ownership, or is it a destination in and of itself? And does it even matter in the search for a place to call home?
An opinion essay worth reading in today’s L.A. Times addresses that question. Headline: ‘You don’t have to own it to make it a home.’ Kerry Madden writes:
My husband and I have never owned a house -- and may not any time soon, despite the steep drop in home prices. ... We’ve lived in our current home for 10 years now. We pay $1,400 a month in rent for a five-bedroom in Silver Lake. Our only debt is mounting college loans. Our landlord is a good guy. He’s raised the rent only once, and he has a home-warranty plan, which means that if something breaks, the company comes out and fixes it. The neighborhood is full of friends for the kids. But is it a holding pattern? Shouldn’t we look to buy now that prices are finally coming down? But how can we with tuitions going up?
As I say, worth reading. The essay, as I read it, is only partly about the old rent-versus-buy argument, which is pretty much an economic discussion. It’s also about the psychic issue of where your home really is, and what makes a place your home.
-- Peter Viles
Your thoughts? Comments? E-mail story tips to Peter Viles.
More about author Kerry Madden here.
Photo: Los Angeles Times