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:

[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.