Renting? 9 Tips To Help You Make The Right Move

The U.S. Census Bureau reported homeownership in the fourth quarter of 2010 dropped to 66.5%. That's down from 69% back in the boom of 2006. And rental vacancy rates have dropped, too, indicating more units are filled, says Walter Molony of the National Association of Realtors, or NAR.

Molony explains that as the economy improves, more young adults are leaving the nest to become first-time renters. And more Americans are seeking a roof over their heads without the burden of a mortgage, maintenance and other responsibilities.

"If you have a short-term time horizon or don't have the economic wherewithal to own a home, then renting is certainly better," Molony says. "You don't want to get into a homebuying situation unless it's for the long haul."

You can always make owning a home a longer-term goal. In fact, a NAR survey released in January says 72% of renters believe it still makes sense to own a home over a period of several years, and 63% say they're at least somewhat likely to buy a home down the road.

In the meantime, if it looks like a lease is in your immediate future, consider these factors to help you find the right rental.

https://www.usaa.com/inet/pages/advice_renting_right_move?EID=corp_cc_hill5_2012_01-03