How many of you....

How many of you____ a home?

  • Own

    Votes: 11 55.0%

  • Rent

    Votes: 9 45.0%
  • Total voters
    20
sequoias

sequoias

Active Member
Premium Member
Joined
Jun 4, 2004
Messages
22,242
Reaction score
19
own or rent a home? We rent simply because we can't afford to own a home.
 
We own.

Renting is not necessarily a bad thing; some people have done the math and figured out that it can even be cheaper than home ownership, all things considered, since you are not responsible for repairs and replacement.

Look at all the people over the last few years who have wanted to sell and ended up having to bring money to closing to sell their own homes! Yikes. Ownership is not always the wealth-creating mechanism that we have traditionally believed it to be. Sometimes it's more of a wealth-depleting mechanism, depending on the situation.
 
We own a small house. It is cheaper than renting. But we also might need to sell after my husband retires if we can't afford it anymore.

But for right now owning is good. Plus no one can come in a house you own without your permission.
 
In my point of view...for owning a home.

Pros: Does not matter how many people can live in your home
You decide if you want pets in your home or not
cheaper monthly payments than renting

Cons: Unexpected repairs can be very expensive.
Must have a stable job with a great income
Good credit history with few debts
You can't simply move anywhere you want, if you want to retreat
 
sequoias said:
In my point of view...for owning a home.

Pros: Does not matter how many people can live in your home
You decide if you want pets in your home or not
cheaper monthly payments than renting

Cons: Unexpected repairs can be very expensive.
Must have a stable job with a great income
Good credit history with few debts
You can't simply move anywhere you want, if you want to retreat
Click to expand...
All that's true. And I forgot about pets! very important to me and the reason I can have three dogs.
 
Even owning your home doesn't necesssarily give you all those rights. I live in a subdivision with a Home Owner's Association. We cannot have more than a certain number of people living in the homes (no more than 2 per bedroom, I think it is), cannot have more than 2 dogs or 2 cats, must paint our houses from the HOA-approved palette of colors, etc.

That's fine, I'm ok with those restrictions, but some are not.
 
Own my home or actually, the bank does for the next 25 years. Hehehe
 
Beach girl said:
Even owning your home doesn't necesssarily give you all those rights. I live in a subdivision with a Home Owner's Association. We cannot have more than a certain number of people living in the homes (no more than 2 per bedroom, I think it is), cannot have more than 2 dogs or 2 cats, must paint our houses from the HOA-approved palette of colors, etc.

That's fine, I'm ok with those restrictions, but some are not.
Click to expand...

Yeah...that right HOA part sucks sometimes.
 
Sometimes, but it all depends. I like the look of our community, and our board mostly makes sensible decisions. Once in a while people will argue about something or other, but for the most part, the restrictions do keep the community looking nice.
 
We owns the house...:) My husband did researched which cheaper, renting or owns...so we opt to own the house. It is depend on where you live, if you can afford buy a house or not.

Someday you will buy your own house :)
 
i own my home. im lucky that my great grandmother left me money when she passed away and i had enough to purchase my home in cash. i figured i would invest now while the markets down, and sell when it goes back up and get a nicer one later.

but i do hate that when something goes wrong i am responsible for fixing it... it sucks. oh man do i love having my own dishwasher and washer and dryer though, none of my old apartments had either of them and i got really sick of the laundromat and hand washing dishes. yuckkkkk.
 
I own......I think it is pretty much cheaper to rent though. Every comparison I have done came out that renting is cheaper.

I own for the freedom....that is worth the extra cost

@Bott.....Reverse mortgage might be better than renting for you if you love your house. Depends on how much equity you have in it.
 
I own my home. Mortgage is cheaper than rent house. Third one was new house built.
 
TXgolfer said:
I own......I think it is pretty much cheaper to rent though. Every comparison I have done came out that renting is cheaper.

I own for the freedom....that is worth the extra cost

@Bott.....Reverse mortgage might be better than renting for you if you love your house. Depends on how much equity you have in it.
Click to expand...

That's true. We have several years left to decide. My husband thinks we will be able to keep it.

I do love my house and navigate it well. Plus my backyard is fenced for the dogs, and I also have privacy fences placed strategically, and the insides are painted in bright colors , and some with graphics. They orient me and they are extremely cheerful. The backs are plain so they can't bother the neighbors.
 
MIL owns free and clear and we live with her. If we are able to convert the garage, then we will own free and clear except for the loan for the remodel. When she dies, then we will own both lots and properties free and clear.
 
Interesting! It's funny some of you think owning is cheaper...but that's your opinion. Gotta think about pest control costs, a new furnance and other things. It depends on the house you buy, of course.
 
sequoias said:
Interesting! It's funny some of you think owning is cheaper...but that's your opinion. Gotta think about pest control costs, a new furnance and other things. It depends on the house you buy, of course.
Click to expand...

Consider it as a saving plan too. You build equity over time as you own a house.
 
Neither if you want me to be technical. I only pay board.

For me, it's expensive to rent or buy!

Rental vacancy is at its all time lowest, so quite hard to find a property to rent.

One of my dreams is to own a house.
 
Miss-Delectable said:
Neither if you want me to be technical. I only pay board.

For me, it's expensive to rent or buy!

Rental vacancy is at its all time lowest, so quite hard to find a property to rent.

One of my dreams is to own a house.
Click to expand...
feels bad man.
It goes the same here for Canberra - these houses are very expensive, and even renting as well - they are going up regardless, say $500 a week! :S
So I am currently paying board to my parents...
 
Back
Top