Last week a long-time client contacted me to let me know there had been a fire in her rental home. This fire destroyed most of the inside of the house and almost all of her family’s belongings. They are now living in a hotel.
How many of you have heard the adage that renting is just throwing money down the drain every month? Probably most of you. However, it’s important to take a serious look at both sides of the coin when determining whether renting, or buying is better for your own personal situation.
Imagine not having any discussions about money until after you are married. Who is paying which bills? What kind of monthly budget will you plan to stick to? How much debt have you brought into the marriage from credit cards or student loans that may impact your ability to purchase a home together? How much do you plan to save for retirement? Will you join your assets or leave everything separate?