From a New Homeowner: There's Good in Renting

I am fortunate to own a home for almost two years now. It's a small but good-sized home in a decent suburban neighborhood. It's the type of place where neighbors say hello without feeling too awkward, where kids still, by and large, play in the streets, and people plant flowers and tend to their small lawns with meticulous care. It seems primarily filled with retirees, though many young couples and families have moved in too. Having returned from nearly a decade of city life (and never having had those experiences growing up), that type of place felt very foreign and uncomfortable to me at first. Yet, it's become home to me, to us.

Prior to that we were renters, like 33.8% of the U.S. population (2000 U.S. Census). In looking back, there were many benefits of renting I didn't appreciate then. Don't get me wrong- I love being a homeowner, but it's idealized. Realistically, it only takes one or two bumps in life- an unexpected illness, a lost job, etc. - a few missed months of mortgage payments before a family could be faced with foreclosure. A lot can happen during a 30-year repayment period.

Losing my house is a fear, but not an all-consuming or even primary one. The reason why I'm feeling this uncertainty now is because my husband is going to apply for jobs that will bring him better personal well-being but greatly decreased income- we're talking salary reductions that are tens of thousands of dollars less per year. Ultimately, it will be what is best for him. Knowing that no one has guaranteed job security, especially in a new job, I feel it's important to consciously remind myself of the good in renting. People get attached to their homes. I like mine, but if needed, we could sell and go back to being happy tenants without feeling too defeated. Truly believing that and having a hand to hold throughout is comforting with all of the uncertainties life can bring.

On to the memories!

Through the Noise

In a saturated Internet filled with "experts" and plenty of personal blogs, why create another self-interested platform about something so mundane as personal finance?

I am writing from a perspective of Western culture, a consumerism culture that normalizes owing debt and conditions its citizens to constantly compare the material wealth one has to another. Too many struggle, even when it seems like someone has a cushy life. The reality is that it's easy for someone earning a steady income to find themselves at risk for homelessness- it only takes the loss of a few paychecks, a couple unexpected mishaps. Plus, having money may make it easy for a person to buy all of their basic necessities (and then some) but it doesn't always lead to personal fulfillment or happiness. At the end of the day, we all have bills to pay and we're trying to take care of ourselves and loved ones the best we can. This project is an endeavor to break down the social stigma of talking about money where possible, without judgment.