Quote by LYFBUZ
For me personally its a huge deal. My first apartment was about 200 sq ft, no hot water and infested with rats. Buying my own place after years of slumlord bullshit was a huge deal for me. Realistically renting is cheaper although massive growth in home prices has turned homes in to major profit sources in many cases. Buying a home is about lifestyle. Prices where I live (suburban/rural) are similar to US suburbs, about $300K for 1500-1800 sq ft but most homes here have finished basements that double the living space. I bought my current house about 5 years ago and its increased in value by about 33%; apparently prices are being driven up by folks escaping the Covid risk in big cities. I've lived in apartments, hotels, condos and houses and if you can afford it house is the only way to go.
You can’t truly call yourself peaceful unless you are capable of violence. If you’re not capable of violence, you’re not peaceful. You’re harmless.
Quote by PrincessC
I think property can be a liability because it ties you down and I like to move, that being said I also think I have to own my own property. Renting is enriching your landlord and not yourself. It’s not financially viable in the long term.
Quote by Osman
I agree, however I also think that buying a home is like choosing to have children. You better have the resources to back it up. And if you don't, I see it as irresponsible.
Things are bad right now, but in the new year things are going to get a lot worse in the US. People are going to get evicted on masse.
This idea of the American Dream is going to fuck people over just like it did in 2008.
Quote by Buz
Propery most often increases in value over time. I see home owning along with other property investments as part of the wealth building process. It works!
Plus, when you own your own home, you make the decisions about your home and property.
Quote by Osman
It's also good if someone else pays for it.
Whatever was posted is always meant in love and respect never to offend.
I'm also highly likely to have posted this from a phone so there may be typos or odd word changes, auto correct can be a pain.
I've been listening to my kinky pencil here's my current work
Very important.
It definitely feels like a milestone, like Green_Man mentioned, and I like the idea of having something to show for all those monthly payments instead of just handing over rent. Plus, in some areas, mortgage payments can be cheaper than rent, which makes it an even better financial decision.
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It'sd been important for a long time. With rents as high as they are today why do I want to pay off somebody else's mortgage instead of my own?
I got a mortgage for my house 22 years ago and paid it off last year, at the time rent and mortgage costs were close enough that it made sense to buy instead of enriching someone else. In todays market it would be a much bigger financial burden and not worth the investment in my opinion. My house has doubled in value over the last 22 years but I don't believe that is going to happen for todays home buyers. At some point the housing market is going to take a down turn and folks are going to be under water on their mortgage. Renting a house today in my area costs at least double what a mortgage costs and with banks requiring a much larger down payment than in the past I can see why many folks are stuck renting. It seems like a catch 22, pay high rental fees or come up with a substantial down payment while paying said rental fees.
