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

posted 7 years ago in Home
Post # 62
Member
2959 posts
Sugar bee
  • Wedding: May 2014

My Mom rented all her life. So did my Dad. So did I for 90% of my adult life. I NEVER felt the need to own a home. A lot of people never really own their homes anyway – the bank or mortgage company does. Many people sell or lose their homes before it is ever paid off.

 

 

 

I was perfectly happy renting. Unfortunately, the property owner decided he wanted to develop the lovely woods where I lived for the past 15 years. We tried to buy the land to save it from development and offered him top dollar for what it appraised for. Nope – he wanted DOUBLE of what it was worth.

 

 

 

So I reluctantly looked for a new home with the zoning where I could keep all my animals. And we moved two years ago.

 

 

 

I HATE home ownership! The mortgage is almost triple compared to the rent I paid. There is homeowner insurance and property taxes that I never had to worry about before. If an applicance breaks or a repair is needed, guess who gets to pay for it? No more calling the landlord to get it fixed.

 

 

 

I feel hopelessly trapped. I cry frequently because I miss my mountain home. One unexpected crisis and the home could easily be lost. Home ownership SUCKS!

 

 

 

Post # 63
Member
216 posts
Helper bee
  • Wedding: December 2012

Darling Husband and I live in California, and as of right now, buying a house is practically just as much as renting.  Why not pay that money towards something you own?  Once it’s paid off, it’s done!  Everything is yours to do as you choose with, from decorating, to placing in a pool, or a garden, painting rooms whichever color your heart desires. 

Right now, Darling Husband and I are working full time and still going to school, so it’s out of the question to attempt to afford a house at the moment.  But that’s my take on it! ๐Ÿ˜€

Post # 64
Member
10452 posts
Sugar Beekeeper
  • Wedding: February 2014

For us, renting was just throwing money down the drain every month. Why do that when we could buy? We didn’t even consider renting. 

Post # 65
Member
2794 posts
Sugar bee
  • Wedding: July 2013

@Omgbunnies:  OMG your own Beyonce!!! I always feel so weird and giddy when two internet worlds touch like in your post.

I am going to leave all of the logical reasons to the PPs. For me, it’s just a visceral, old-world need to own a piece of earth. I want to drive down the street at the end of the day, see my mailbox, and be warmed by the light glowing on my front porch. I want a place to welcome my family and friends, a hearth so to speak. 

It’s very romantic and dumb, but there it is.

Post # 66
Member
984 posts
Busy bee
  • Wedding: June 2015

In the UK, landlords can be really strict about tennant’s rights. You can’t always decorate the way you want, can’t always have the pets you want.. for us, paying a mortgage was considerably cheaper than renting an equivalent house – not to mention that renting is kind of a black hole… you put in more and more cash and don’t get much from it except for one month’s place to live, whereas with a mortgage the more you pay, the closer you are to wiping off the debt and owning the property.

Post # 67
Member
561 posts
Busy bee
  • Wedding: April 2014

I always was under the assumption that I would own my home, and it was always important to me – mainly because we always rented and I always wanted to paint my room, or hang photos etc, make it feel like my own space. It’s also partly the social status – I like to think mine is higher than it actually is….one of my major flaws – always feeling inadequate. But now I want a child and I am happy to rent given my career path this seems to be a more sensible and realistic option for us for the next few years. Fiance doesn’t agree – we’ll be at his mums until we have enough money to buy – despite what I would prefer to do ๐Ÿ™‚

Post # 68
Member
52 posts
Worker bee
  • Wedding: June 2012

Buying a house was our number one priority after getting married for a few reasons. First, it is cheaper or very similar in price to pay mortgage/taxes or rent on a house. Second, owning a home is the biggest way to secure retirement. Renting is basically paying someone elses mortgage, so why not pay your own and eventually have a paid off house and never have to pay mortageg/rent again!

Post # 69
Member
2224 posts
Buzzing bee
  • Wedding: April 2014

@HisMoon:  ahhhh! I was so hoping someone would catch my Beyonce/Bloggess reference! I loved the image you painted, too, about driving home at the end of the day and seeing your house light on ๐Ÿ™‚

Post # 70
Member
64 posts
Worker bee

Where I live, the average 3 bedroom house is $450,000. Which is ridiculous. But I still want to own my own home. for several reasons:

– Its money that I don’t get taxed on: because I am in one of the highest tax brackets in Australia (37% of my income goes to tax), any ‘extra’ money I have laying around eats at any possible tax return I might get. 

– I HATE renting: I have had nothing but problems the day I moved out of my parents’ house and I can not wait to NEVER have to deal with landlords and real estate agents again. 

– It just makes sense: My SO and I have more than enough money to cover a sensible mortgage (we wouldn’t be interested in owning a $700,000 home). So, considering we can afford it, why not?

Post # 71
Member
55 posts
Worker bee
  • Wedding: April 2012

I think when you’re ready, you’re ready. I’ve always loved the flexibility of renting…being able to move and start over. I still think about the possibility of moving to another city for a while… knowing I’d most likely come back to VA to settle down/retire. BUT I’m watching HGTV more and more these days and have started picking up real estate listings. I would love to buy a place to make our own… have a pool, a nice yard, etc. Still not quite ready to pull the trigger, but it’s been on my mind more and more. Probably in another couple of years.  ๐Ÿ™‚

Post # 72
Member
853 posts
Busy bee
  • Wedding: December 2012

One of my goals in life is live in a mortgage-free house.  I love ‘owning’ a home, but I hate it not being completely ours.

Owning a home was a goal and a want, but not so much a need.  The low interest rates and reduced housing prices made it a goal that was easier to reach.  Next goal is paying the rest of it off.

The responsibilities are not that much greater than renting, sure there’s a yard now, but all the minor maintenance items (changing A/C filters, light bulbs, water filters) in the apartments were things that I had to take care of myself and the property manager would not.

Ever since going off to college, none of the apartments felt like home.  I think it was knowing that someone had a key and could come in whenever they pleased.  But it’s an entirely different feeling knowing this is ours and ours alone.

Post # 73
Member
55 posts
Worker bee
  • Wedding: October 2012

We rented for a year before our wedding, moved into my parents for 5 months while saving for a house and bought one in April.  I’d have to say we felt a little pressured to buy.  Many of our friends had already bought a house within the past three years and kind of “frowned” upon us for renting (which I loved our apartment though!).  My parents were happy to have us stay with them while we saved.

I also wanted to buy because it felt like the “next step”.  Now that we have the house…I’m ready for some babies!  

I didn’t mind renting, but I love our own home! 

Post # 74
Member
1646 posts
Bumble bee
  • Wedding: November 2015

@Sweet_Tea:  SO just closed on his first place this week and we’ve been working on cleaning and moving in. For us, buying made more sense. We were living with our parents the past 3-4 years after finishing college and our parents live 10 minutes away from each other. Renting an apartment seemed like we would just be throwing money out the window, so we focused on saving for a downpayment and a sizable financial cushion (him) and paying down student loans (me).

Buying held more appeal for us because we have something that we can call our own. Its a condo, so only the inside is ours (outside is the HOA’s responsibility), but it’s still nice to know that we could change the flooring or counters or paint the walls without getting into trouble with a landlord. And the mortgage payment is actually a bit cheaper than what renting would be in the area we chose, so that’s a bonus too.

Post # 75
Member
413 posts
Helper bee
  • Wedding: August 2013

Renting is working for us right now because it’s affordable in the part of town we chose and it’s all we really need. We will buy a home once we have children (2 or 3 kids is our plan so we need space for them to run around and play in). For now owning a home would just be too much extra work and upkeep for both of us, considering that Fiance has two jobs and I am working part time and going to school. Two of my cousins got married recently and they are starting out owning their homes. For one of them, it wasn’t the best idea. For the other, I think it will work out. It depends on the person and several factors, like how much space you need, how much of a mortgage payment you’re willing to make, how much time you want to put into home care, etc.

Post # 76
Member
696 posts
Busy bee
  • Wedding: October 2013

Yes.

 

When we got engaged 2.5 years ago, we agreed to prioritize buying our first home together over a wedding. We wanted to put our savings into a long-term investment first. 

 

We knew that we would be staying in the area long-term and that renting yields zero ROI (not that there’s any investment with renting to begin with), so buying made sense for us. We also know that starting a family is part of our plan, and putting roots down in a home we own is important.

 

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