"victor" wrote in message
news
Ok, ok, ok. My friends and family keep nagging at me to stop renting
and buy a house. I'm so sick of them droning on about points-this and
closing costs-that. But the more I think about, the less sense it seems
to make for me. Here's why:
1. "You'll save a fortune on taxes." True. But the property taxes
will pretty much cancel out any savings you got on the income taxes.
this has no effect on me - i think with other tax exemtions we still benefit
2. "You're throwing rent money down the toilet." True. In all
likelihood, your mortgage payment will be twice your rent. By the time
you pay it off, you'll be drinking Ensure, wearing Depends, and too old
to maintain the house. Then you'll be wanting to move back to ... AN
APARTMENT! By that time, an assisted living apartment. And let's be
realistic. You're NOT going to be like those power couples in Money
magazine who claim they're going to pay off the mortgage in 5 years and
retire in 10. Yeah, right.
my home will be paid off when I am 45. We bought at 27, refinanced to a 15
year. I pay 1 extra payment a year and it knocks 2 years off my mortgage!
My mortgage payment IS twice what my rent was...BUT...my apartment was
attached to someone elses home, I had no yard and I only had 3 rooms and a
bathroom. My house has a wonderful yard, 8 rooms, 2 bathrooms, an attic and
a basement. I think it's worth it to raise my family in a beautiful home in
a beautiful area.
I am going to start a vegetable garden this summer (well to plant in next
spring), I have swingset and bird baths. I don't think you can have all this
in an apt. If you rent a house it costs the same as a mort. payment and then
you have to wait for your landlord to come jiggle the handle when your
toilet is running!
3. "It's one of the few things you buy that appreciate in value."
Assuming that you find someone who is willing to pay your inflated
selling price. Assuming that the neighborhood doesn't go down the
tubes. Assuming that the new house you buy will end costing as much as
you think it's going to (not!). Too many assumptions.
if you choose carefully you should be ok - our home has more than doubled
it's value in 5 years.
4. Maintenance. I'm lucky if I have time to clean my apartment, let
alone a house. I've worked customer service for plumbing, HVAC, and
home maintenance companies before, and I hear how much people pay for
this stuff. In an apartment, it's all FREE.
Well, I guess you are qualified to jiggle your own toilet handle
But
really, you still are at the mercy of others.
In the end, I suppose it's a matter of personal preference. But I do
wish my home-owning friends would cut out the holier-than-thou attitude.
ok - to each his own but i don't think the home-owners are trying to get you
to join the "crazy home-owner cult" - i think they have also lived in
apartments and see the benefits of owning a home.
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