I will always choose owning over renting. I want to wake up in the morning in my own house, not someone else’s. As for upkeep, that’s a small price to pay for knowing that you’re not going to be displaced by a new landlord. I pay way less for my house than even what a dingy two bedroom apartment goes for. And I have three bedrooms, two bathrooms and a spacious two car garage at the end of a dead-end street in a gated community. I don’t have to worry about through traffic or porch pirates.
I will always choose owning over renting. I want to wake up in the morning in my own house, not someone else’s.
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I live in two homes that I own free and clear and rent out several homes. The raw truth is that while you may not owe money to a mortgage company the house isn’t really yours, you are just renting it from the government. Stop paying your exorbatant taxes and see what happens.
One of my rentals is a cell tower lot. It barely covers my property taxes each year. One rental I had this past summer required well over 20k to get it ready for the next renter. The first months rent takes care of the insurance, the second takes care of the property tax and the third takes care of the fee to be a landlord in my county and the business license my town requires to be a landlord. If I don’t live two more years I won’t make any money on the income of the house. That being said however in the 20 years I have had most of my houses they have trippled in value according to the county valuation assessment, what a scam that is.
I don’t think a person could make anywhere near the value of the house appreciation by investing the difference between rent and owning. Renting is likely a little cheaper in many ways but once you throw in the increased value from appreciation there is no contest.
“I will always choose owning over renting. I want to wake up in the morning in my own house, not someone else’s.”
That is my selling point!
I’d rather suffer all the hassles of home ownership
than depend on a landlord to give me permission to
fix or improve something.
I agree. Our mortgage payment is less than one half of what our house would rent for. the escalation in value has given us incredible equity which we are soon going to cash in on.