Homeownership Isn’t the Dream for Everyone Anymore. Renters Are Explaining Why
There was a time when homeownership was considered the ultimate American dream. And while rising interest rates and higher-than-average home prices have left many people putting that dream on the back burner, there’s an increasing number of people who say that they don’t really see themselves ever buying a home.
People like Threads user @syreetalynnn have even gone as far as to say that they are proud of their lack of homeownership status. “Nobody, and I mean nobody, will ever make me feel bad for renting an apartment,” she wrote in an Oct. 7 post.
Her mindset appears to be taking off online, and hundreds of people liked the post in the hours after she put it up. But people are doing more than throwing a little love her way; they are also sharing why they are all about that apartment life, with one person calling it a “flex.”
It seems like a lot of modern renters in the comments see landlords and property managers as a good thing in this day and age, especially when you consider how expensive even routine maintenance can be. Here’s what they have to say.
Woman’s Post About Apartment Life Starts Positive Conversation
View on Threads
The original Threads post didn’t say why @syreetalynnn was refusing to feel bad about apartment living, but clearly her statement struck a nerve with her fellow renters.
“I’ve lived in my apartment 14 years,” one person wrote. “In that time my stove, microwave, and washer went out. And they were all replaced the next day.”
“It should be considered a flex to rent an apartment with all the requirements they have nowadays,” another person added, likely in response to the rising qualifications needed to get approved for a rental, which often include income thresholds as well as large upfront deposits. According to TransUnionSmartMove, those income requirements could include ensuring renters make at least three times whatever their monthly rent payment is before taxes are taken out.
Even those who already have their own homes commented on the post, sharing how buying a property isn’t for everyone. “As a homeowner, I would never make anyone feel bad about it,” one person wrote. “Do what’s best for you and your life.”
Some Said They Were Still on the Fence
Other renters said they still sometimes dreamed of owning a home, even if that dream does feel like less of a win. “I’m in a fork in the road,” one person wrote. “Do I get a house or keep renting. Besides equity, renting is winning the race.”
“Don’t ever feel bad girl! I wanted a home so bad, and when you get it, you [have to] fix everything that breaks. [That’s]not to mention HOA, taxes, homeowners insurance, etc.,” another added.
According to Zillow, owning a home doesn’t typically start to pay off until you’ve lived in your property for about six years when you’ve put 5 percent down at the time of purchase. That’s when the benefits of owning surpass the benefits of renting, financially speaking. Zillow calls this the breakeven point, noting that it can vary depending on how much money you put down, how much the house costs, mortgage rates, where you live, and more.
For renters like the ones in @syreetalynnn’s comments who love having easy access to amenities like on-site gyms and the ability to call the landlord whenever something needs to be repaired, that breakeven point may not matter much.
