(Closed) Do/Did You Feel The NEED To Buy A Home?

posted 6 years ago in Home
Post # 47
Member
620 posts
Busy bee
  • Wedding: January 2015

Yes. Renting felt like bleeding money. I rented an apartment for years and it never felt like a home. Going there at the end of the day I never said or thought to myself, “I’m going home”. It was always the landlady’s home.

Post # 48
Member
4464 posts
Honey bee
  • Wedding: February 2012

One day my husband and I will have a home because that’s the environment I want to raise my children in (I plan on having more than 2), and I want to experience being a homeowner, with all of the positive and negative aspects that it brings. I want something that I can call my own and something that I work hard toward owning. However, I’m also not in any rush. I’m hoping my husband and I can resume TTC this year and I really don’t care if we are in an apartment. We have plenty of space in a 2 bedroom for a baby, and the baby will have his/her own room. So I don’t feel the NEED to buy right now, but one day I will. 

Post # 49
Member
1341 posts
Bumble bee
  • Wedding: April 2015

@Sweet_Tea:  No. Maybe I’ll change my mind in a couple of years, but right now I have no want or interest to own. I feel it’s more trouble then it’s worth. Iike being able to call my super and say this is wrong or this is broken and them having to come fix it and not have to shell out the money for it.

Post # 50
Member
407 posts
Helper bee
  • Wedding: October 2012

Not really, but we aren’t planning to stay in this area. We really want to move closer to our friends and family.

 

Post # 51
Member
692 posts
Busy bee
  • Wedding: February 2013

Its not about a ‘need’, for me, I’d be fine renting forever.  Having now looked in to it, there are a lot of pros to owning vs renting, though.

For one, all the houses in the price range we want, along with the downpayment we have ready, would make our mortgage (with property taxes) less than half (sometimes a THIRD) of our rent.

Second, you’re able to expand or improve the property.  My ILs have added a large dining room, 2 decks (one on each floor), a third bathroom, a stand-alone garage with a loft above it, and a pool to their property in the 20 years they’ve lived there, not to mention re-doing the kitchen and 2 other bathrooms.  I think they added a whole digit to the property value.

Third, while I was originally worried about being responsible for maintaining the place, I’ve come around on that as well.  My newest rental has a few broken things, and I have to go through the landlord to get him to schedule & pay the repairman every time.  And that usually takes a few weeks.  We actually spent a full week with a running tub faucet (not dripping, RUNNING).  Our landlord is also refusing to replace the 30 year old and basically un-usable stove, insisting instead on cannibalising the stove in an empty unit for parts.  I’d rather not have to go through a middle-man to get things fixed or replaced.

Post # 52
Member
1589 posts
Bumble bee
  • Wedding: March 2014

Fiance and I are itching to buy a home. I want to have a decent size place to have people over, we’d like to have children and I’d like to have control over what gets done to the home. We’re in a one-bedroom apartment now so if our family grows, we need more space!

It’s not so much about being a homeowner. I’m a little nervous after the housing crisis and I disagree with friends who have said that paying rent is like having a mortgage. Um, not around here!

Post # 53
Member
685 posts
Busy bee
  • Wedding: June 2013

The prices to rent where we live are ridiculous, so buying a home is definitely a better option for us. 

 

Post # 54
Member
692 posts
Busy bee
  • Wedding: February 2013

@turnanewleaf:  Its not just where you are, inflated rent is happening everywhere.  When Darling Husband and I moved to the area we are now, we decided to rent only because we didn’t plan to stay more than a year or so.  Our 2 bedroom townhome is 1250, which might not sound like much, but there is litterally nothing here.  I’m in bumf*ck nowhere, I have to drive 30+ minutes out of town for groceries.  There are 10 units in this “development” and they’re only 50% full.  No one lives here, there is no reason to live here.  And 1250/month was the cheapest rental we could find.

Post # 55
Member
1019 posts
Bumble bee
  • Wedding: August 2014

@UsagiTsukino:  It’s been particularly bad here with a lot of people moving into the city, and has gotten much worse after flooding put a lot of people out of their homes. Vacancy rates really are near 0%. The basement suite I mentioned for $1800 + util wasn’t in a swanky part of town either, but the exact opposite…yyyyyikes. 

Post # 56
Member
4426 posts
Honey bee
  • Wedding: December 2013

I think it depends on where you live and what you want. There are a lot of cities where renting is the norm so it’s nothing unusual. I grew up in Texas and Missouri, and my parents always owned homes. My Fiance and I are in no rush to buy a home (just finished my first year of teaching and Master’s and he is hoping to buy the business he is currently managing). However, we both have always wanted to own a home when we have kids. I actually don’t know why. It’s just something we want for ourselves and our future kids.

Post # 57
Member
186 posts
Blushing bee
  • Wedding: June 2013

Yes!  DH and I have been living in aparments for 6 years now and we’re definitely getting tired of it.  Yes, it’s nice that you don’t have to worry about upkeep, but we’re tired of sharing walls with others, forking over more for rent than we would for a mortgage payment, and not having any room for anything.  We’re literally bursting at the seams in our one bedroom, and we’ve totally outgrown our space.  For us it’s not a status or social thing, we just want to be comfortable and have some more room!  We’re starting the search in September when Darling Husband finishes up grad school 🙂

Post # 58
Member
10651 posts
Sugar Beekeeper
  • Wedding: January 2011

Darling Husband and I got really fed up with our apartment.  We would have moved even if we didn’t buy.  We would have wanted to rent something bigger with a yard, like a townhouse, and that gets to be expensive.  It also wouldn’t have fixed some of the things I had a problem with here – notice of entry when I had a bunch of medical stuff going on and wanted my privacy, crazy rent increases, having to move furniture on someone else’s timeline for renos/repairs etc.

I’ve seen all the comparisons that shows that renting is cheaper, but they compare the average rent to the average price of a home (and sometimes they even use the single detached data).  The quality of these isn’t comparable.  Even if renting the same type of house would have been cheaper, the freedom to do what we want because it’s ours was worth it to me.

Moving day is soon – I can’t wait!

Post # 59
Member
317 posts
Helper bee

@Sweet_Tea:  yea , I absolutely felt pressure to buy a house because most people I knew already had houses and I was trying to keep up. I remember the day specifically – almost exactly 6 years ago at age 26 I got it in my head that I was worthless if I didn’t own a house. The hard part for me was that I was buying the house alone, not with SO like most people I knew did so it took way longer and required much more discipline for me to save for my house. I finally bought it last year, but it was so stressful. Now I have a friend that’s going though a tough time and wants to buy a house to keep up with friends and she absolutely cannot afford to do it and I have no great advice because I was in the same boat not long ago, it really does mess with your head!

Post # 60
Member
653 posts
Busy bee
  • Wedding: May 2014

My absolute goal, probably of life, is owning a home. 

We pay $2275 for a studio, one room apartment, which we have truly made into a home. We don’t want to move, and we are paying under market value. 

If we ever want a family, we will have to move. Even by NYC standards, a studio cannot support three people. I hope we will stay here through the wedding next spring, and a bit beyond. I’m hoping our wedding savings plan will become our home savings plan, and it will work out in the next few years. 

Post # 61
Member
497 posts
Helper bee
  • Wedding: March 2013

We don’t feel pressured right now. Our student loans are our home :-/

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