The buy or rent a home personality testLifestyle The List
Home ownership is at its lowest level since the mid-1960s. Between downsizing boomers and millennials loaded with student debt, the age-old argument of "rent versus buy" is back in a big way. Jimmy Rhoades and Homesmart’s John Doering are testing your personality to see if you should take the home buying plunge or remain agile and rent.
1. Are you a DIYer or a delegator?
As long as you're the kind of person that is willing to get in there and get your hands dirty, fix an outlet, patch a roof or do some landscaping, then purchasing it right for you. If that's not you, it's probably not the best idea to buy a house.
2. What part of the tree are you, the leaves or the roots?
Unlike roots, leaves blow in the wind and change with the seasons. It does it gives you a little more freedom because obviously when the lease is up, the lease is up. You can do whatever you want, but when you own a house the lease is never up unless you sell it.
3. Are you a saver or a splurger?
Your buyer is going to be somebody that's really goal oriented and going to want to have a certain amount of money by the time they're 62. They want to have path to doing that. In most places a mortgage payment will be less than a rent check so you can save more, and you're building equity in your home. The splurger is willing to pay more for the amenities offered by many apartments.
Do you prefer to buy or rent? Join the conversation on our Facebook page, @TheListShowTV.