It is almost every person’s dream to own their own home, especially people who have families. Who wouldn’t want to provide their family with a shelter to call their home and own it, right? With the news, that real estate properties are continuously increasing, most people decide to put their dream of owning a home behind them and rent homes, condo units, or apartments instead to call their temporary home. What people do not realize is that renting costs a lot of money in the long run, especially because rent has continuously increased the past years. In a previous article, it stated that “survey estimates that almost one half of the owners salary check is designated for the rent in the real estate property that he/she is staying, and not only that the rent is continuously increasing as time pass by. This situation is present nowadays in the city of Miami, Los Angeles and especially New York City.”
With this situation, its seems nearly impossible for people to get their dream homes because most of their salaries are going into their rent and they do not have enough savings for them to potentially get a home of their own. What people who rent don’t realize is that the increase of rent is because of its high demand nowadays, leading to these real estate properties for rent to increase more and more each year. Leasers have known to take advantage of this and offer renters a high price although they know that renters can barely afford the price they are offering but these renters accept the price because they are just trying to make ends meet and have no other choice because renting will always be cheaper in than buying a home for the moment.
With living paycheck to paycheck, most renters have to find other job opportunities just for them to be able to stay where they are staying. Also, to save a little more money for their potential dreams that they made need a big sum of money for. Some may even go as far as being US comfort women just to afford their wants and needs in life, which is sad, but has become an opportunity for people just to live their lives the way the want.
Image by highlandhomes and 3rdeyerealestate