Renting Vs. Buying - Material/Spiritual Considerations
Spiritual Financial Planning

There's a really interesting article in the New York Times from May of this year (free registration required). It considers what's involved in buying vs. renting a home, and how the author eventually came to the conclusion to buy (there's even a very helpful calculator). It mentions, for example, the oft-heard myth that renting is just throwing money away, as well as the many costs associated with owning a home that have to be reflected on when one is thinking about buying. But, the FUNDamentals Team thought to itself, what is missing from this conversation?

Owning or renting a home or apartment need not be merely a material consideration. It's important to think about the why's involved in choosing a home just as much as the how's and when's. If we view our life's goal to be service to humanity and contributing to an "ever-advancing civilization," then every aspect of our life can be viewed through that lens. What home, for example, will allow us to host groups of people, whether large or small, for such things as study circles or children's classes? What kind of space is best for a family,"a nation in miniature," as described by Abdu'l-Baha?

As with so many questions of this nature, only you and the dear ones in your life can answer that question. But what a wonderful foundation to lay for your future home!

Comments

[Bridgette]

Your questions for guiding living space decisions are well made (avoid 2” square living rooms etc.) but the N.Y. Times article cited wasn’t entirely devoid of spirit considerations. I liked these insightful lines from the article’s closing:

"After several years of reporting on the housing market, I’m convinced that the most common real estate mistake is viewing a house first as a financial investment and only second as a home. That’s one big reason we ended up in this bubble-induced mess."

Thanks for your e-zine!