Home Ownership

[Brasel]

Who owns a house? Doesn't it suck? The long-term benefits are great, but in the short-term, it blows. I need to replace the roof of my front porch, and it's going to cost a lot of money because it's a flat roof. Also, since this summer was so dry for us, I'm going to have to replant all my grass next year.

I guess it's nice that I don't have noisy neighbors, and I can walk around my house naked at all hours of the day without (much) ridicule.

[Glenn the Great]

Not me! I happily rent a two-story, two-bedroom, three-bath townhouse located 5 minutes from work and 50 steps from a swimming pool.
My costs are $650/month in rent, and anywhere from $150-$200/month in utilities depending on the time of year.

I really enjoy not having to do any yard-work and receiving free plumbing and other repair work. Maintenance even brings us free air filters twice a year!

The only downside I'd say to my unit is lack of area in front of and behind the unit in which to sit outside and enjoy the weather. If I ever get relocated to one of the other buildings, I could sacrifice proximity to the pool for a private backyard that opens up into the woods.

The stigma against renting that you'll always see bandied about is that renters do not build equity because they'll never own the apartment. But home equity is overrated: if you want to do anything with it you'll need to sell your house, and then guess what: you now need to use that money to pay for some other place to live. The equity is great for your children though! You die, children inherit house, children make bank selling house.

What many analyses of the rent vs. own debate are ignoring is that if you are a renter and you invest the money that you would otherwise spend on property taxes as a homeowner, the returns on those investments can easily make renting the better deal in the long run. Which option is better varies with time and location, but market forces will keep all options relatively even because the one constant between owning and renting is that you are paying someone else to be able to live in a structure that you yourself did not build.

[ctrl-alt-delete]

I love being a homeowner. Purchased when I was 21.

Mortgage is pricey, but we're refinancing in March. After that, we're planning on renovating the house. We already installed brand new heat and air. Next on the list is all new cabinetry for the kitchen and bathrooms(with simultaneous new appliances), and new flooring in the kitchen. (The house is nice as it is, we just want modern amenities.)

It's three bedroom, one and a half bath, and a 500 sq ft den. (Which we're about to put AT LEAST a 75" TV in) Big front and back yard with a hot tub. The neighborhood is a suberb of Oklahoma City where pretty much a bunch of rich, old people live. They hated us when we first bought the house because we partied like rock stars, lol.

[Beldaran]

I will never buy a house. Maybe a condo someday, but I refuse to do maintenance or yard work.

[ctrl-alt-delete]

I will never buy a house. Maybe a condo someday, but I refuse to do maintenance or yard work.

Pay people to do it? :-p

[Beldaran]

Why would I pay people good money to maintain something from which I derive no enjoyment. Screw yards.

[Glenn the Great]

Illustrated summary of Beldaran's stance on this issue:

http://i242.photobucket.com/albums/ff228/wissingmichael/god_i_hate_houses.gif

[ctrl-alt-delete]

Haha, that was great.

[King Aquamentus]

I unfortunately still live with my folks because I'm too financially unstable to do otherwise. I need to get out of the temping industry but so far all permanent ventures have failed to yield opportunities.

and then I see people younger than me on this thread doing otherwise..

[Brasel]

Well, my wife got a degree in English Education, and she's been out of school for 4 years. She hasn't gotten a full time position at a school. She's been working as a secretary the last few months so we can make ends meet. She's almost 30. I have several other friends in the same position. Don't worry, KA, it's not you, it's the economy.

[War Lord]

I will never rent again. I can do all repair and maintenance work myself so that isn't an issue. I'd imagine most of you could as well with a little help via google.
Dropping all that cash to rent every month that is just gone is insane.
I'd rather live somewhere, pay the same or less in a mortgage, and then sell for more than I bought it for when it's time to move.

Yard Work? How hard is it to ride around on a lawn tractor drinking beer?

[Brasel]

If I could use a lawn tractor or riding mower on my lawn, I definitely would. As it is, I've got a steep grade on one side that just wouldn't be safe...the rest isn't that bad. I don't really mind mowing.

House plans:

-New Siding
-New roof on porch
-Replace doors
-Replace windows
-Add closets in upstairs bedrooms
-Paint rooms
-Hardwood floors
-Redo bathroom and kitchen
-Replace gutters
-Enclose back porch
-till my steep hill and plant ivy
-wood privacy fence
-build a shed
-add a vegetable garden

My house was built in 1928. It's been taken care of over the years. There isn't much wrong with the foundation or the structure. It's really solid. I don't have very much leakage in the basement, either, despite it being a basic brick basement. It's been updated fairly recently, but the people who did it used all the cheapest materials from Home Depot. I'm actually really good at landscaping and yardwork. My dad had me out in the yard all summer every summer growing up. I'm not too good with inside handywork, but I'm learning. All in all, I'm fairly happy with the fact that I own a home, but some days its just a chore.

27

It's bigger than it looks. It's pretty long. The yard and driveway are more overgrown and weedy than they were just because I haven't had time to take care of them. Once I'm done with school, I'll get my shit back together and make this stuff happen.

[Beldaran]

How hard is it to ride around on a lawn tractor drinking beer?

It's easy, but it takes time away from things that are important to me so it is unacceptable.

And houses are horribly expensive, even if you own them outright. Property taxes (which are very high in Texas), repairs, insurance, home-owners association fees... You are one cracked foundation, one broken roof, one exploded water heater away from a crazy bill.

And don't get me started on mortgages. Your payments are mostly interest for years, which is another word for rent. I will own a condo someday, but I will pay cash and it will have no yard.

[mrz84]

I live in a 2-story duplex on the top floor. Its a nice place, about $500 a month with utilities included (excluding internet but our downstairs neighbor is so kind she lets us use her's for no charge, which I feel bad for sometiems and offer to help pay some of the bill, but she keeps saying "no, its fine") and is less than a 5 minute walk from where I work. While owning my own home would be nice, I wouldn't buy one unless I was finacially comfortable to do so. Or win the lottery and just buy my current abode from the landlord and let the kind neighbor staff if she wants (she's been good to me and my bro, why kick her to the curb?)

[Xyvol]

If I could use a lawn tractor or riding mower on my lawn, I definitely would. As it is, I've got a steep grade on one side that just wouldn't be safe...the rest isn't that bad. I don't really mind mowing.


The place looks nice. I don't know what you have in terms of property, but that front yard isn't worth the cost of a riding mower. My parents bought a new one a couple of years ago. It cost as much as my car did, about 6k. We have five acres to mow, plus part of the neighbors property to cut the fire risk. It's worth the cost for them, and doesn't take as much time as you might think.

I am also currently living with my parents, but I'm enjoying it. We have an awesome house. I have no intention of going back to a roommate situation, and don't want to pay the cost of an apartment on my own. I'd like to own my own place, but only if I have someone I can share it with permanently, and I don't see that happening anytime soon. I'm also good with inheriting my parents place, but would be worried about the cost of upkeep.

[Brasel]

Thanks, man. The backyard is about twice that size, so not very big. The side of the property is like a freaking 50% grade or something crazy, so it's really hard to mow.

I think that with the amount of people on this earth, and the way the economy is these days, living with other people shouldn't be looked down upon. Parents, friends, whatever. My wife and I have toyed with the idea of getting together with another couple that we know and starting a small commune. It's a real hippy idea, but sharing the costs for one big house sounds really good sometimes.

[SpykStorm]

I share ownership of my house with my brother, and there's a ton of work to be done in the next year or so. I don't mind mowing the lawn.

One thing that bothers me is that my great-grandmother, the previous owner of my house, had our back-yard pool filled with dirt, and planted trees in it... :(

[ctrl-alt-delete]

I share ownership of my house with my brother, and there's a ton of work to be done in the next year or so. I don't mind mowing the lawn.

One thing that bothers me is that my great-grandmother, the previous owner of my house, had our back-yard pool filled with dirt, and planted trees in it... :(

Dude, that sucks!