Cultivating Creative Thinking
Propose an alternative convergent creative thinking tool to solve the following problem.
After selling my home, I had to decide whether to rent or buy. I ultimately decided to rent for now. When deciding whether or not to buy in this crazy market – one that is not favourable to buyers, whatsoever – I used this method to make my final decision.
I looked at the pluses and minuses of owning while addressing each concern that comes with them, including rising interest rates and what that might mean even in a year from now. First I looked at all of the positives that come with owning, which there are many (two that immediately come to mind are that it is an investment, and I would not have a landlord who could potentially sell, bringing me back to square one). Then I looked at opportunities. Buying smaller right now could lead to potentially renting down the road, a rental property for additional income, and then buying again. Then issues came into play. Issues right now that cannot be ignored are home prices and bidding wars, which could lead to me overextending myself financially in order to just get into the market. Who knows what could happen a year from now? Am I better off waiting? New thinking led me to focus on renting. I won’t have all of the issues, work, and extra costs that come with owning a home right now, and if I can go at least a year without having to shovel that’s not so bad, because I live in Northern Ontario and it is supposed to be a snowy winter. Buying is not out of the picture, it is just not the best option right now.