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View Poll Results: Do you Own or Rent your home
Own 43 82.69%
Rent 9 17.31%
Voters: 52. You may not vote on this poll

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Old 06-04-2007, 01:24 PM
 
Location: Michigan
29,391 posts, read 55,499,866 times
Reputation: 22043

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Hi, I wonder how my people rent or own their own home. I know a couple near me that has worked at a job for 40 years and still don't own a home. They spent there money on everything else other then a home. So now they rent and they are in there late 60's.
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Old 06-04-2007, 01:30 PM
 
Location: ARK-KIN-SAW
3,434 posts, read 9,731,417 times
Reputation: 1596
my wifes grandparents still rent and they are in their late seventies.
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Old 06-04-2007, 02:19 PM
 
Location: Chattanooga TN
2,349 posts, read 10,637,017 times
Reputation: 1250
I own and found that my mortgage+taxes+insurance is so much cheaper than renting something comparable, even when you factor in maintenance (water heater, lawn, roofs, etc.). I do have a small home so that must be taken into consideration of course.
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Old 06-04-2007, 02:27 PM
 
Location: Tennessee
32 posts, read 110,863 times
Reputation: 18
We're renting. My husband's in the military, and we'll only be stationed here for 3.5 years, so it didn't make sense for us to buy. I'm looking forward to owning once we're done here, though!
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Old 06-04-2007, 05:06 PM
 
Location: Sand Springs, OK
633 posts, read 2,537,981 times
Reputation: 247
I currently rent my home, but this time next year I'll have my first home I can call mine
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Old 06-04-2007, 08:26 PM
 
Location: Penobscot Bay, the best place in Maine!
1,895 posts, read 5,890,333 times
Reputation: 2703
We rent a small house (2 br) on the coast of Maine for $450/month. At this time, I'm quite sure that a mortgage and taxes on another home would be quite a bit more than that. We also don't have the best credit, so that would limit our mortgage options. We may have the option of buying this house in a few years, with some of the rent we have paid being discounted from the purchase price.

For some people, it is easier to rent in the long run- you know that you pay a set amount for rent and don't have to figure in savings for things that might go wrong- plumbing, or reroofing issues, for instance.
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Old 06-06-2007, 06:35 PM
 
Location: Sand Springs, OK
633 posts, read 2,537,981 times
Reputation: 247
that's a very good point. I go back and forth many times on whether to own or rent, but in the end I think I want to just put roots down and have a place that is mine. Where I can paint my walls, or change the cabinets or flooring if I want to,etc.
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Old 06-11-2007, 09:08 PM
 
2,896 posts, read 6,623,762 times
Reputation: 5047
bought my first house @ 22 but a divorce 10 years later put me into the rental market. It served me very well for a few years until I decided where to start up again. I was so fortunate to find a couple very nice rental homes in great neighborhoods while raising a little boy. The advantage of renting for me was that it enabled me to live in some very nice places that were beyond the reach of my being able to purchase at the time.
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Old 06-13-2007, 11:34 AM
 
Location: NJ
12,283 posts, read 35,633,913 times
Reputation: 5331
my mom didn't buy own her own house until her late 40's. i know a couple who lives in a 2 family house - paying rent, owned by his mother (they are about 70, mom pushing 90) and they hit the lottery for 6 mil!

i purchased my first home at 24, but rented for 6 months after selling while our current home was being built. the rent on a 600 sq ft condo was more than my mortgage.
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Old 06-17-2007, 12:07 AM
 
Location: Dallas, Texas
506 posts, read 2,144,802 times
Reputation: 385
We bought our first house in 1987 (10 months after we got married) and our current one in 1993. We live in the Dallas area where appreciation is pretty steady - but not anything like California, of course! But, after almost 14 years, it's worth double what we paid for it and have no complaints. I have an aunt & uncle that always rented, however, which nobody in the family could understand. Had they bought a house in the 1960's (like their peers), they would have ridden the appreciation curve (especially through the 1970's) and done pretty well. It was their choice, of course.
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