Posted on 03/29/2005 11:21:03 AM PST by qam1
And some of us just build ours :)
(so if it falls down around our ears, we have only ourselves to blame :))
Like tissue thin walls, having 2 400lb people living above you, not having a yard, kids yelling in the parking lot, white walls and brown carpet only, creepy neighbors...
Your money is going to NOTHING...when you pay rent. IT is gone...no equity. Everyone should buy a home no matter how small or how crappy...in time it will make you money. You will putting your money into something that will make money for you (except if you live in Buffalo)...instead of giving it to the landlord to make money. My dad always had us kids buy or own place as soon as was possible....he always said you will never get ahead when you rent. It's true......
You go girl!
Besides equity, appreciation of investment, and tax benefits, landlords are for suckers.
Owning your own house before you make another mistake means your next ex-wife can't take it as marital property!
In many states the housing market is unaffordable for most. In an expensive area, a single ANYBODY with a large mortgage is subject to being let go from a bad economy, downsizing or whatever. So, though RE is a great investment, there is no guarantee you won't lose it all.
If a single person is fired and can't find equal pay in another job, the house could become forfeit.
ROFL!!!!!!!!!!!
Your apartment sounds like a mansion compared to any I had...heck even my house only has 1 bathroom and no garage.
But I'm not complaining, the house may be tiny, but it's on 2 acres with a creek and only 10 minutes from the beach!!!
What are the statistics of men reaching an age and not getting married?
I decided years ago that I never want to get married.....I don't want to clean and cook for some guy...and that's what they want....so I am 47 and single and content. I see so many people in miserable marriages....I don't see happy ones.....unless they are married under 10 years or so....
Same here - and I haven't paide rent since 1992.
I missed your post about closing on your house.........CONGRATULATIONS!!!!
I think you're right.
I don't want to clean and cook for some guy...and that's what they want
Boy, times sure have changed since I was young.
The market is always crazy in socal, but you can still find a house in a semi-decent neighborhood, if you don't mind an old fixer upper.
If you can find that kind of area, buying is the right move. Where I live, mortgage + property tax is just about double the prevailing rental rates. Renting is a relative bargain.
But it's YOUR house.
Nothing feels better than walking into your own cave or nest :)
Also true of interest and property taxes. (Yes, tax advantages can partially mitigate them). It's just a math question as to which is less harmful, depending on the specifics of the market. And the non-monetary costs will often swing the decision; many people want the ability to customize their homes, others (like me) appreciate the reduced maintenance required when renting.
Hmm, that's what I thought in 1979 when I bought at about the peak of the market. Rising interest rates in 1980-83 depressed the price of the house, and evaporated the market. By the time the ex and I split up in 84, it was worth less than what was owed on it (having a negative amortization mortgage didn't help), so I just let her have it.
Not everybody's going to make a killing in the housing market, and since we've just come off of a historic slide in interest rates from 25 years ago, I doubt that prices will take off again in the very near future.
Room service coupled with an expense account feels pretty darned good.
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