Content Creator Elicits Comments After Sharing Opinion on Renting Home
A content creator sparked various reactions from the online community with his views on renting a home.
Recently, Kiven Roie Colong, a Facebook user, shared his perspective that renting is not a waste of money but rather a practical choice until you’re ready to purchase a home. The post elicited comments from netizens.
In his post, Kiven pointed out that while monthly mortgage payments might sometimes be lower than rent, buying a house comes with a lot of additional expenses that renters don’t face.
![Content Creator](http://philnews.ph/wp-content/uploads/2024/09/content-creator.jpg)
These fees include costs for furniture, maintenance, homeowners association (HOA) fees, homeowner’s insurance, and repairs like fixing or replacing a broken heating and cooling system. When you rent, you avoid these extra costs, as the landlord is responsible for most of them.
Colong emphasized that renting provides a chance to save up and prepare for homeownership. He advised that before buying a home, one should aim to be debt-free, have an emergency fund covering 3-6 months of expenses, and save at least 5% of the home’s price for a down payment, though 20% is even better to avoid extra costs for private mortgage insurance
The content creator also recommended choosing a 15-year mortgage where the monthly payment is no more than 25% of your take-home pay. This allows you to manage other bills and enjoy life without being “house poor.”
![Content Creator](http://philnews.ph/wp-content/uploads/2024/09/house-for-rent.jpg)
The latter pointed out that renting is a sensible choice while you’re preparing for the responsibilities and costs of homeownership. It’s a way to buy time, save money, and make sure you’re fully ready before making such a huge financial commitment.
The social media users expressed their reactions to the post: