Why are so many preferring to rent instead of own their own home? Western Rim Property Services CEO Marcus Hiles says that this trend is a result of people welcoming the flexibility accompanying the rental lifestyle. “We’re a mobile population,” Hiles says, referring to both Texans and Americans in general. “The idea of settling in one place for a decade – or for the length of a 30-year mortgage – doesn’t hold the same appeal as it did a generation or two ago.” Hiles notes research that demonstrates renters coming out on top to debunk the myths that homeowners have an edge. This is particularly true when it comes to personal fulfillment, “People who rent actually spend more time engaging in leisure activities and interacting with their friends and neighbors,” he says.

Read more: http://www.marketwatch.com/story/marcus-hiles—-explains-how-to-be-happier-as-a-texas-luxury-renter-2016-06-29 

Marcus Hiles Discusses Renting As Better Option For Budget-Conscious Residents

Because of a wide range of changing economic factors, mortgage figures have increased roughly half a percentage point to their 16-month high. According to New York Times contributors Patricia Cohen and Conor Dougherty, ”adding hundreds, sometimes thousands, of dollars to a home buyer’s yearly payments.” The went on to say that “The speed and size of the increase took many lenders and borrowers by surprise, and the increase is expected to reverberate across the housing industry, particularly if rates continue to rise next year.” Marcus Hiles encourages renting instead of undertaking the rising costs of purchasing a home, as such high rates can make it challenging for prospective buyers to afford the monthly payment and stay within their budget. Added expenditures caused by any necessary repairs, maintenance, or renovations will further stretch one’s finances. While the overall cost of an annual lease agreement may be slightly more expensive than a given year’s average mortgage payments, the overall financial burden is much easier to bear when renting, according to the U.S. Bureau of Labor Statistics.

Read more: http://finance.yahoo.com/news/marcus-hiles-home-mortgage-payments-023200676.html