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		Rent vs Buy: A Lifestyle Decision
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			content="rent vs buy, calculator, mortgage, loan">
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			content="The Rent vs Buy decision is more than just a financial equation.  This article explains why rent vs buy calculators are only a small part of the equation.">

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<h1>Rent Vs Buy</h1>
<img src="rent-vs-buy.jpg" width="181" height="272" hspace="10" vspace="2" border="0" alt="Rent Vs Buy involves lifestyle decisions" align="right">
<p>Are you considering the cost of Rent vs Buy?  Are you wanting to work out which you can afford?  If so...</p>
<blockquote><i><b>Stop!</b></i></blockquote>
<blockquote><i><b>Think!</b></i></blockquote>
<p>There are other, more important factors to take into account when considering whether to rent or buy.  You can find out more by completing:</p>
<blockquote>
 <a href="rent-vs-buy-questionnaire.html">The Loans Guidebook<br>Rent vs Buy Questionnaire</a>.</blockquote>
<p>"Why?" (you may ask)</p>
<h2>A Qualitative Decision</h2>
<p>The Rent vs Buy decision is far more than a simple financial one.  Most rent vs buy calculators help you make a <i>quantitative</i> decision;  ie: they work out whether it will cost you less to rent or to buy.</p>
<p>However, such calculators are only a minor part of the decision, because:
<ul>
<li>there are often many hidden costs - such as repairs and maintenance, the cost of moving, etc. - that are not included in many "rent vs buy" equations.<br><br>
<li>the rent vs buy decision is often not a quantitative one, but a <i>qualitative</i> one.<br><br>According to the 2001 Fannie May National Housing Survey (in the US) roughly 2 out of every 5 people who rent do so as a matter of choice.  Such choices can be influenced by factors as diverse as:
<ul>
<li>Whether you need a better credit rating for future borrowing
<li>How much stress you are prepared to deal with if and when you move
<li>Whether your sense of independence or freedom is important to you
<li>Whether you'd rather spend or save
<li>Your pension strategy
<li>And other factors
</ul>
<i>(For further explanation of these, see our article on <a href="renting-vs-buying-factors.html">renting vs buying qualitative factors)</a></i>.<br><br>
<li>renting and buying are not the only options;  there are other variations that may suit you better
</ul>
<h2>Considering the options</h2>
<p>There are two ways you can consider the qualitative factors in your rent vs buy decision.</p>
<p>One is to list the most important aspects of your lifestyle, both now and in the future, and in different categories of importance.  For example:</p>
<ul>
<li>career ambitions
<li>family plans
<li>social life
<li>travel
<li>holidays
<li>etc.
</ul>
<p>Then, for each aspect of your lifestyle, assess whether tenancy and purchase will support it or inhibit it.  Pay particular attention to the more important aspects of your lifestyle</p>
<p>However, a better way is to complete</p> <blockquote>
 <a href="rent-vs-buy-questionnaire.html">Rent or Buy Personality Questionnaire</a>.</blockquote><p>This is an online questionnaire (free and anonymous) that looks at your lifestyle and suggests which of eight property strategies may be best for you.</p>
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