Thursday, March 28, 2013

3 Reasons Newlyweds Should Consider Renting


Being a newlywed is typically one of the most exciting times in a couple’s lives. After tying the knot, many are faced with the decision of if they would rather rent or purchase their own home. Although married life is exciting at first, the extra stress and financial burden of owning your own home can put a strain on your relationship. By opting to rent, you are not tying yourselves down to yet another commitment before you are ready to handle it. An expert on credit repair can even assist the happy couple with improving their credit score to qualify for their dream rental property. These top 3 reasons will show you why it's important for newlyweds to rent before buying.


1. Saving Money as a Couple

As a newly married couple, it's time to start saving money before you make any huge commitments that you simply may not be able to afford. Saving as much as possible now will allow you to live comfortably once starting your own family and taking that next step into a home purchase. Rather than putting money on a down payment, this can be put into a joint savings account that will only continue to grow over your time renting. Renting a home, condo or apartment is less of a financial burden.

2. Unsure of Where to Live 

Newlyweds are not always sure of the exact area that they would like to live in and start their own family at. Even if you don't want to just pick up and move, it may be necessary if re-located for work purposes. Owning a home makes the moving process all the more complicated when you have to find a buyer for your home first before you can move away. Renting gives you the option to move out as soon as your lease is up, giving you that flexibility that both individuals desire.

3. Taking it Slow 

Just because you're newly married does not mean that you need to rush into buying your own house. Taking it slow and opting to rent can actually be more beneficial for your relationship and marriage. Without the added home expenses and stress to worry about, you are able to spend more time together as a couple, enjoying all that the city has to offer. Stay financially comfortable and appreciate other enjoyable things in life such as dining out, vacationing and even just going to the movies.

Author Bio
Hayley is a freelance blogger. For more practical financial advice, visit http://money.cnn.com/

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