Mothering Forum banner

1 - 11 of 11 Posts

·
Registered
Joined
·
4,324 Posts
Discussion Starter · #1 ·
This is an interesting article. I'm not looking to start a debate. I just think the "American Dream" to own a home is pushed onto people who jump into it before they're ready. I thought this was interesting..<br><br><a href="http://promo.realestate.yahoo.com/rent-dont-buy-your-home.html" target="_blank">http://promo.realestate.yahoo.com/re...your-home.html</a>
 

·
Registered
Joined
·
464 Posts
Well, it is interesting you posted this article...it hit home for us! We recently purchased a home...very cheaply...but now we are stuck. We live in TX and our family is in MN. With the state of the economy, we want to move home. We want to find some kind of work and be there...except now we have this house!<br><br>
We have to fulfill one more year teaching, but even though we haven't even been in our house 6 months, we are thinking of putting up for sale in a few months...we will be hopeful!<br><br>
Our house was built for a little over 140K, and we purchased it for 105K. We have put probably about 5-6K into it, and wouldn't care if we just broke even!<br><br>
I really wish we would have just rented for one more year! To all that are renting and thinking of buying...be careful!
 

·
Registered
Joined
·
1,394 Posts
<div style="margin:20px;margin-top:5px;">
<div class="smallfont" style="margin-bottom:2px;">Quote:</div>
<table border="0" cellpadding="6" cellspacing="0" width="99%"><tr><td class="alt2" style="border:1px inset;">
<div>Originally Posted by <strong>Stayseeliz</strong> <a href="/community/forum/post/11570929"><img alt="View Post" class="inlineimg" src="/community/img/forum/go_quote.gif" style="border:0px solid;"></a></div>
<div style="font-style:italic;">This is an interesting article. I'm not looking to start a debate. <b>I just think the "American Dream" to own a home is pushed onto people who jump into it before they're ready</b>. I thought this was interesting..<br><br><a href="http://promo.realestate.yahoo.com/rent-dont-buy-your-home.html" target="_blank">http://promo.realestate.yahoo.com/re...your-home.html</a></div>
</td>
</tr></table></div>
That is a really interesting article, thanks for sharing.<br><br>
I agree with the bolded part- it was almost true for us! A couple of years ago we were living in Northern California, and we almost bought a house there because everyone was just convinced it was the best thing for us to do and I guess we got caught up in it, yk? Fortunately we stopped to think a little before it was too late, and we decided to wait, and I am so glad we did, any house we would have bought in our old neighborhood would be worth so much less than we would have paid for it now! We did end up buying a little house up in Oregon because we plan on staying in it for quite a while, and it was finally the right time for us to buy. I am so grateful we didn't buy too early only to end up stuck, and I hope other potential buyers will stop and think too, and not just buy because they "think they should".<br><br>
holidaymama- I'm so sorry you're stuck so far away from your family! I hope you find a way to get where you want to be!
 

·
Premium Member
Joined
·
3,064 Posts
Yes, this is SO true! I've known a bunch of late 20s/early 30s who HAD to buy, then bought in a BAD neighborhood because that's what they could afford (Chicago is an expensive city). Then the reality of living in a crime-ridden area dawned on them (couldn't even take the kids for a walk in the stroller to the park) and they had a VERY difficult time selling. Most of these folks are still in a bad financial situation several years later. They basically lost their shirts.<br><br>
I'm 39 (single, no kids) and people harass me for never having owned a place! I like moving around every few years to a new apartment. Plus, I would be house poor and spend something like 60% of my take home! Nope! There's no sin in renting. The tax deduction/equity argument holds no water with me. Plus, I don't have a lot of savings from focusing on paying down debt (only about $3400 from being totall debt free - car loan) and buying now would be STUPID!<br><br>
There have been lots of times in the past when people in America, especially urban folks, ALWAYS rented, even if they lived in the same apartment for 10+ years at a tme.
 

·
Registered
Joined
·
4,324 Posts
Discussion Starter · #5 ·
This really hit home with me because we felt like we HAD to buy to a few years ago or we were throwing money away on rent. We bought a house we THOUGHT we could afford but had too much debt and too litle savings. Throw in a dead air conditioner, a couple of surgeries and DH losing his job and I wish we'd never even THOUGHT about buying. We just were NOT ready.<br><br>
Now we're trying to sell a house that is currently prices at $2k LESS than we bought it for 3 years ago and we'll probably have to drop the price again. If we CAN sell it we're going to have a HUGE ding on our credit from a short sale. Bleh..Just bleh..
 

·
Registered
Joined
·
2,207 Posts
I HATE it when people say you are "throwing your money away" renting. Ummm, no, we are paying for a place to live. That is like saying you are throwing your money away buying groceries. And we are making out better renting with our lifestyle than we would by buying, especially with the economy how it is. Now if we knew we were going to be in one place for the long haul we would definitely buy, but we aren't.<br><br>
There are some things that suck about renting. I hate paying pet deposits and not being able to have a clothesline (though some HOAs are far more restrictive than our apt complex), but I love not having to pay to fix anything and having the flexibility of moving when we want where we want.
 

·
Premium Member
Joined
·
5,084 Posts
<div style="margin:20px;margin-top:5px;">
<div class="smallfont" style="margin-bottom:2px;">Quote:</div>
<table border="0" cellpadding="6" cellspacing="0" width="99%"><tr><td class="alt2" style="border:1px inset;">
<div>Originally Posted by <strong>PrettyBird</strong> <a href="/community/forum/post/11572976"><img alt="View Post" class="inlineimg" src="/community/img/forum/go_quote.gif" style="border:0px solid;"></a></div>
<div style="font-style:italic;">I HATE it when people say you are "throwing your money away" renting. Ummm, no, we are paying for a place to live. That is like saying you are throwing your money away buying groceries. And we are making out better renting with our lifestyle than we would by buying, especially with the economy how it is. Now if we knew we were going to be in one place for the long haul we would definitely buy, but we aren't.<br></div>
</td>
</tr></table></div>
<img alt="" class="inlineimg" src="/img/vbsmilies/smilies/yeahthat.gif" style="border:0px solid;" title="yeah that">: We bought 4 years ago and honestly it was probably a mistake, I underestimated how much home ownership costs, and not just the financial aspect. Turns out neither dh or I are handy people and with the kids and our work schedule we have little time or desire to spend what free time we have on home improvements. Of course now we have little extra money.<br><br>
Probably the only real perk for me is that I can stay here as long as I want unlike apartments/houses I rented where at least 2x I had to move because the owner sold the property. That was actually why we decided to buy, we were reenting a single family home and the owner decided to sell it and I was tired of being displaced. That said without a true savings account home ownership is not all people say it is.
 

·
Registered
Joined
·
2,823 Posts
We have so many people pushing buying a house on us and I'm so glad we are able to withstand the pressure. We could not afford a house! We are very low income. We would be screwed if there were major repairs or if anything needed to be fixed or a number of other things. I like renting, even though I don't like living in an apartment. The way I look at it, we suck it up and appreciate it (we live in low income housing and sometimes can barely afford that, let alone a house, which comes with lots of hidden extras).
 

·
Registered
Joined
·
360 Posts
We are very happy renting. We moved to the city we are in the same time as friends of ours, we followed them. They bought, we decided to rent. They now are stuck with a crazy house payment because they overpaid and got an ARM loan.<br><br>
We rent and our rent has only gone up $75 in 5 years. Our landlord lives about 5 hours away, and a couple times a year drives by, but never comes in. If there are any issues with the house we let him know and if it is something we can fix he quickly reimburses us for parts. The house is 20 years old and I just know the water heater is the next to go.<br><br>
If we were to own, we could maybe get a four bedroom instead of a three bedroom for the same as our rent, but then we would have property taxes, and repair bills. My friend had an issue with her heater right after she bought her house and couldn't afford to fix it, her house was downright freezing in the winter, I know that is how we would be stuck.<br><br>
People are always telling me about the tax benefits, etc, but we have almost 5 kids and I have a business I run out of our house, so I am able to take alot of home office expenses etc, and we never pay taxes.<br><br>
So for us right now I just do not see any benefit at all.<br><br>
As much as we love it here, dh and I talk often about moving out of state to a slower pace of life, maybe we will buy then if the price is right?
 

·
Registered
Joined
·
1,542 Posts
Thanks for posting this. We are one of the minority families who rent. We are constantly pressured by extended family to buy a house. I'll be honest, sometimes I do feel shitty about not owning a home but I think this is mostly because of the pressure from society to do so.<br><br>
Tradd, you think the ostracization is bad as a single person with no kids, let me tell you, it is worse for a family. Every family I know owns their own home and everybody thinks that if you rent there must be something shady about you. It is somehow more acceptable to rent if you are a single person or without kids.<br><br>
The bottom line for us is that we can rent more and nicer house than we can buy. I've told people time and time again that I could buy a home if I really wanted to that I don't like just to say I own a home...or I can rent a home that I really do. Now just so everybody knows that doesn't equate to big or new or fancy for us either. I personally like quirky old houses and there is no way we could afford the mortgage on the house we rent. A lot of people don't understand that once you tack the insurance and taxes on your mortgage payment, here in Florida anyway, you double your monthly payment in many instances.<br><br>
The only drawback in my opinion is the stigma from owners and other people about renters. We sometimes have a hard time getting owners to fix something up or at least do a renovation that is quality vs. cheap because they have the impression that renters are like dogs who are going to tear up whatever they put into the house. I know that happens but we aren't like that. Then you don't want to personally put a lot of work or permanent changes into a house you don't own and have to eventually leave.<br><br>
Ultimately though, yes, I'm so sick and tired of this pressure to buy a home, have brand new vehicles, etc. The guilt factor seems even worse as a mother because people act as if you are taking the whole family down with you by not pursuing the "American Dream" everyone else does.
 

·
Registered
Joined
·
2,042 Posts
We rent but would love to own.<br><br>
I hate living in someone else's property. I hate the fact that they don't do updates or maintance, they are letting this house fall down around itself. I hate that I can not save rainwater for watering my garden because we don't have gutters on this house. I hate that I can't have chickens because the landlord wouldn't approve.<br><br>
What I love is that the house we have in in a great neighborhood that we could never afford to live in otherwise. I love the fact that my rent is stable and has been the same for the past 7 years we've been here.<br><br>
There are always toss up's between the two states of renting and owning aside from just the cost, quality of life is a big factor as well.
 
1 - 11 of 11 Posts
Top