Post # 32
I only rented for 11 months and absolutely HATED it. I love knowing I can do what I want to my home and not feel uncomfortable because someone has access to my place. I see what you are saying about not having to worry about things cuz it’ll get fixed by maintenance. But I just love knowing this is my home and no one can tell me I can’t have a dog or something like that. What I hated about the apartment was having to share a front door and hear them every time they spoke or had people over.
Post # 33
My dream is to buy an old house and renovate it over the years. I hate renting. I hate having neighbors so close to me, and not having my own private space, no backyard, no garden. I hate knowing this money will never come back to me because it’s not an investment.
I have to say though, here the houses’ value is always higher and higher where I live. The property market didn’t crash. But it has become tougher over the years for youg couples to own a property. I saw recent statistics that showed in 2000 it took an average of 5 years for a couple to get a downpayment on a house ; in 2013, it’s 10 years. We can’t pay the house over 30 years like it was the case for our parents, a few years ago they decided it would be 25 years. All these changes make it very hard to own a decent property. The logical choice a few years ago were condominiums, but right not they do not sell, the market is having problem in my area. And houses are expensive. Not 750K though ! But finding something under 200K is nearly impossible, and those are often tiny houses with almost no backyard. Not sure I would want to live there either. I guess I’ll have to wait for years still.
Post # 34
Owning. I hope to have my home paid off by the time I retire so I do not have a housing payment.
Post # 35
- Wedding: October 2011 - Bed & Breakfast
We prefer to own. I owned from the day I moved out of my parent’s house until the day Mr. Lk and I moved in together (to a rental). I hated being in a rental. It just never felt like a real home to me that I could settle into. But it was the right decision for us at the time because we were trying out life in a county neither of us had ever lived in and we just were not sure where we wanted to buy. After living in our new county for a year we had learned enough about our new area to enter the house hunting market.
Post # 36
I rent at school and Fiance and I own a house in our hometown. My share of the rent in the smallest 4 bedroom apartment split between 4 girls is 25% more than our mortgage on our house!! With taxes and insurance included! I would never rent (luckily I pay for neither), but houses in our area are affordable and we never want to leave. So I can sort of understand renting in some cases, but we will definitely be making money off our house and are paying it off, not just to a landlord.
Post # 37
We are currently renting a home. We would love to buy a home and we would actually be able to afford it right now, but the problem is that we don’t know where we are going to end up living. I am finishing school in our current location, but my Fiance works 45 min away in another state, commuting back and forth. I would like to stay in the city that we currently live in, but my Fiance was born and raised here and is not a fan of the idea of living here the rest of our lives. We could quite possibly end up moving to the state he works in, which is also where my parents live, and I wouldn’t mind being closer to them. The other issue is that I’m not 100% sure of what I am going to do after I graduate in May. It is quite possible that I will go to graduate school, which would require us to move. So, right now we cannot buy a home because we do not know where we will end up living. We will think about buying once we know where we will live long term.
Post # 38
@LadyBlackheart: We bought a house a few years ago, and I really don’t enjoy it. It is not nearly as satisfying as I thought it would be. To me, its just a lifestyle choice- yes, I pay something toward the principal each month, but we also pay property tax, much higher utilities, general improvements, lawncare, and I am not getting that money back.
The responsibility is really a drag. There is so much more maintenance and general upkeep. We don’t know how to do any of it, so any project involves extensive research, fruitlessly calling contractors, googling things for hours, wandering around Home Depot, trying to figure it out. This is at least 1/2 of every weekend, and I am starting to really resent it, because nothing ever gets done.
So, if you do buy a house, you a making an investment but you are also making a lifestyle choice, one that may be very expensive and not necessarily enjoyable.
Post # 39
Oh no! I’m sorry it’s been a bad experience for you! Despite having its own downfalls, this is what makes me happy that I chose a condo. All that water heater, roof, insulation, downspout crap is just not for me! Maybe you could look into condos or townouses where all outside maintenance is looked after and it’ll be more of a happy-medium for you?
Post # 40
Own. 100% own. We’re still renting, and I cannot wait until we’re ready to buy. I’m so done with renting. We’re finishing up grad school now, applying for jobs, and figuring out where we’re going to settle, so we really can’t buy a house right now, but hopefully we can save up for a down-payment over the next year or two and be done with renting. I don’t like how nearly everything is shoddy quality (why put in expensive carpeting, light fixtures, appliances when most tenants won’t take good care of them?), I don’t like that we can’t change things to suit our tastes, and most of all, I don’t like that we’re paying every month toward our rent and we will never see any return – with a mortgage, you’re paying toward an investment. With rent, it just feels like we’re throwing our money away (over $50,000 over the past 5 years….that literally makes me sick).
Post # 41
I rented for a short time and it was fine, but I wouldn’t want to do it for years on end. I recently moved back home to save money because I won’t move in with SO until we are engaged (been there, done that, won’t do it again). He owns his own home and I have been helping him fix it up as he keeps saying it will also be mine some day. I love the idea of coming home to OUR house.
Post # 42
You aren’t actually throwing $50k away, though. If you had bought, you’d be paying interest, insurance, taxes, and maintenance. Our principal (the $ that builds equity) is only about 32% of our total monthly cost. You only get to write off interest and taxes if they are over the standard deduction – which is unlikely given the average home value in OH. Say you bought a house 5 years ago. 3 years in, you realize you need a new roof. BAM. $15k+ down the drain. See what I mean? It can be a better financial move to buy – but not always.
I’m totally with you on the cheap finishes, though. Would it kill landlords to put in appliances from this century?
Post # 43
Own – for sure. I hated renting. Between having to hear my neighbors and dealing with people not respecting the property because they don’t own it plus having rent increases each year and being restricted in what I could do to my place, I was so glad to be able to buy our first home.
Plus, that money I’m paying every month is building me equity so I actually have something to show at the end of the day instead of a rent check simply lining someone else’s pocket and leaving me with nothing.
Post # 44
Own, hands down. We are building our own equity, not someone else’s.
Post # 45
We’re renting right now. I love renting, after so long of renting out a room (we’re talking 3.5 of the 4 years we’ve been living together). Further down the track I’d love for us to buy but it’s just not on the cards.
Post # 46
We currently rent and what we pay is extremely cheap for our area. Owning a house would be 3-4 times more then what we pay for rent. We may also be moving out of state for my DH’s job, so renting is perfect for us. Down the line sometime we will purchase a house but we have no plans to do that anytime soon.