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Your quality of life may not be the same as mine. Again, people have different priorities. If your housing equity is paramount, then that's what you'll prioritize over a fancy car or vacation, both of which are "quality of life" expenditures with no ROI. Some people are okay with that. There's even a few people on this board who claim that they don't even look at their house as an investment, they just want to live. There's no wrong way to do it, so please cease the judgment of people who don't live for the sole purpose of building equity that they might die before cashing in. Also, another hole in the equity thing, if you sell at an appreciated point, you then have to buy something else to live in..won't you then be buying at an appreciated point? Or are you going to uproot your life and move where ever in the country you can "buy low" at that particular time?
Funny how you keep now bringing up quality of life which is basically the reason many people want to buy a house regardless of what the market is. Also, there is no "hole" in the equity thing; anyone who sells has to buy something else (unless they switch to renting or move in with parents) so it balances out. You sell your current house in a buyers or sellers market but have to buy the new one in the same market.
So you're not a LI based owner, buyer or agent...yet you hang here?
Well, you're free to get a snack and read through my posting history if you don't believe it...or not, I really don't care. I guess you think the world is flat as well
So you're not a LI based owner, buyer or agent...yet you hang here?
Twingles did own a home on LI so she does know what she's talking about. There are no rules that if you don't live on LI that you can't post here. There are many Ex-LI'ers on these boards. pros of owning a home:
You don't have to deal with a landlord
It's your home and you can change how it looks if you like
If you want pets you can have them
you don't have to answer to anyone but yourself.
you can come and go when you want
you don't have to worry if the landlord is going to evict you or sell the house your renting from.
I have friend that was going to rent a house in Islip, the rental price was $2300 a month which is way more than my mortgage payment. The catch was she only had use of half the yard and she couldn't use the basement. Who wants to live like that? If you own a home you have access to all areas of your home and property. I don't want someone telling me how I should live just because they are landlords.
Your quality of life may not be the same as mine. Again, people have different priorities. If your housing equity is paramount, then that's what you'll prioritize over a fancy car or vacation, both of which are "quality of life" expenditures with no ROI. Some people are okay with that. There's even a few people on this board who claim that they don't even look at their house as an investment, they just want to live. There's no wrong way to do it, so please cease the judgment of people who don't live for the sole purpose of building equity that they might die before cashing in. Also, another hole in the equity thing, if you sell at an appreciated point, you then have to buy something else to live in..won't you then be buying at an appreciated point? Or are you going to uproot your life and move where ever in the country you can "buy low" at that particular time?
A. I am not the one who extolled the possibility of the virtues of Renting as you did earlier and I was merely pointing to the flaws in your thinking.
B. I will point out that you are the one who raised the questions about the cost of the homes and now you are trying to justify your decision. At some point ya gotta get off the fence because the pickets will hurt your butt.
C To answer your "hole in the equity thing" we bought our home in 1997 and better than doubled our money in 2013, we bought elsewhere for cash and still had money in our pocket. My home has appreciate in value since I bought. We did not consider our move "uprooting" it was a choice based upon where we were in life and where we thought we would be happy.
What's the point of appreciation if you never cash it in?
Also your home appreciates but then you have to buy in the new market, eating most of your profit margin.
Last edited by Abby Schmitters; 10-03-2017 at 08:04 AM..
Twingles did own a home on LI so she does know what she's talking about. There are no rules that if you don't live on LI that you can't post here. There are many Ex-LI'ers on these boards. pros of owning a home:
You don't have to deal with a landlord
It's your home and you can change how it looks if you like
If you want pets you can have them
you don't have to answer to anyone but yourself.
you can come and go when you want
you don't have to worry if the landlord is going to evict you or sell the house your renting from.
I have friend that was going to rent a house in Islip, the rental price was $2300 a month which is way more than my mortgage payment. The catch was she only had use of half the yard and she couldn't use the basement. Who wants to live like that? If you own a home you have access to all areas of your home and property. I don't want someone telling me how I should live just because they are landlords.
Oh. So on your home you can add a second kitchen? Build a fence? Build a porch? Install a pool, a new deck, a tree? Without anyone's permission because you're king of your castle? Wrong-o. You can't do any of those things without permission from the town. And you pay them (taxes) just for that privilege of bossing you around.
Your anecdotal situation with the friend in Islip does sound like a raw deal. Not all renters deal with that. We rent in a building and are the only ones in our unit and have full access of all building amenities. We also have the added bonus of not being responsible for 90% of maintenance when things break. There's a magic gnome called a super who comes and fixes the sink, toilet, door bell, smoke detector, etc and bills the Landlord. Anyway, I'm not totally down on home ownership but do think there are merits and drawbacks to each. I am tired of arrogant and erroneous home owners crapping on renting, conveniently forgetting that they don't own the land and still have to answer to Uncle Sam if they want to do even minor changes to "their" home.
Last edited by Abby Schmitters; 10-03-2017 at 08:01 AM..
A. I am not the one who extolled the possibility of the virtues of Renting as you did earlier and I was merely pointing to the flaws in your thinking.
B. I will point out that you are the one who raised the questions about the cost of the homes and now you are trying to justify your decision. At some point ya gotta get off the fence because the pickets will hurt your butt.
C To answer your "hole in the equity thing" we bought our home in 1997 and better than doubled our money in 2013, we bought elsewhere for cash and still had money in our pocket. My home has appreciate in value since I bought. We did not consider our move "uprooting" it was a choice based upon where we were in life and where we thought we would be happy.
And that's great that you cashed in on your equity. Then it's worth it. I'm responding to the squatters who refuse to leave but scoff at renters for not having equity.
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