An Apartments.com survey of 2,000 respondents provides intriguing insight into the psyche of American families. With foreclosure on the rise, it would seem that more homeowners are turning to apartment rentals out of necessity. But this study shows that the majority are choosing renting over ownerships due to affordability and a preferred lifestyle package associated with renting.

The features most favored by renters are a maintenance-free lifestyle, flexibility, access to apartment amenities, prime neighborhood locations also help. The freedom to move when employment changes is a very important feature, particularly with increased uncertainty in the economy.
It also seems that once someone chooses to rent over buy, there’s a very good chance they will remain a renter. Nearly 70% of respondents have always rented and around 37% have rented for 10 years or more.

Post by David Gosse.

So I just discovered that I’m not a slacker because I’m almost 30 and still renting. According to Jack Hough for SmartMoney in Why Rent? To Get Richer, I’m saving money - money that I could be putting in stocks actually, which he says will provide better return on investment over the long haul than a home. Well, good to know! Because I’ve been putting off buying a home for a few reasons.

First off, I’m inexperienced with purchasing real estate and it’s a little intimidating for a newbie. Second, I’m newly engaged and we just began thinking about purchasing a home – for “us.” Third, I’ve never had the nerve to ante up the large up-front down payment, of which I’m told by lenders lately, is not always necessary (whether you have the funds or not).

Yes, it seems odd to betray the American Dream of owning a home. Yet, I’m relieved that I’m not financially responsible for the myriad malfunctions, such as a broken water heater, roof leak or dishwasher meltdown. These are projects that I have no time to manage, let alone the desire to open my pocket book to solve.

Maybe the article is right and I should think about investing my money in the stock market. Perhaps other informed renters are thinking about ROI also and are beating the current housing slump to boot.  Now, that’s being a savvy renter instead of a homebuying procrastinator.

Post by Stephanie Santoro.