Loving the Simplicity of Renting Over Owning

It’s been more than 6 months since I sold my house. Life has become much simpler. I have no debt, less bills, more freedom, and more independence. For now, I’ll remain a proponent of renting a home over owning one.

Before I Sold My House

As a homeowner I was strapped. I could barely pay my monthly bills. I had to borrow money most months in order to get by. I had more than $30,000 in consumer credit card debt, along with a mortgage, and a car payment.

I had hours of yard care to do every week. And at least twice a year, I was surprised by some kind of major repair: heaters, air conditioners, refrigerators, and roofs. I hated it!

Homeownership felt like living in a deep hole while all my creditors shoveled dirt on top of me. It was like being buried alive. It got so bad that I had to refinance my house. That wasn’t enough. I was still fighting for air. So in July, 2019, I sold my house and everything changed.

Selling My House Was the Best Thing

If you have your house paid off, you might want to hang onto it. If you have loads of equity and no other debt, owning might be the smarter option. But when you feel like you’re drowning, selling could be better. That’s what I did.

For me, selling was a great move. Selling my house allowed me to pay off all of my debt.

Every. Last. Penny.

It also led to much less responsibility. No more upkeep or repair to worry about. I also was able to save a big chunk of money for emergencies. If I lost my job tomorrow, I’d be okay for nearly a year without an income.

Renting Is Simple

I went from having 15 bills per month to half of that amount. There are no taxes. I have less insurance, less utilities, and no worries about repairs. I can take a three week vacation without worrying about my yard going to hell. My car is paid in full. My financial situation is way stronger than it was when I was a homeowner.

There are a couple downsides to renting, like occasional noisy neighbors, and some building repairs, but that’s somewhat expected when you rent an apartment. Overall, my financial stress is way down, which reduces other life stressors. That’s hard to beat.

I’ve also recently discovered that I’m getting much more exercise as a renter. I was actually surprised about this. I used to take my dog on long walks at the old place.

When we moved, the walks became much shorter, but they also became more frequent. I figured it might even out. But after studying the health app on my iPhone, I discovered that since the move, my daily step count has almost doubled. I’m also able to afford to pay to go back to the gym.

To top everything off, the convenience of living closer to downtown is awesome. We can walk to half of the places we frequent.

I’m sold. Selling was a good move. I would definitely do it again. Will I rent forever? That depends on a variety of factors. Only time will tell. But I know one thing. I’ll never buy again unless I can afford a huge down payment and I have no other debt.