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Stability seems like one of the least important reasons for owning a home. Today's messed up economy requires a high degree of flexibility, not stability. Owning a home that you cannot sell within a year without losing money is a drag on your finances. There are better reasons to own a home, including these: a defined monthly cost of housing (assuming a conventional mortgage); mortgage interest tax deduction; a place you can decorate, improve, etc. as suits your asthetics; space for personal outdoor activities such as gardening, pets, children to play; and even the potential to learn new skills. Stability was part of the dream of the 50's, 60's and 70's, but that has fallen by the wayside for too many of today's homeowners, especially many of those who bought in the last 20 yrs, sorry to say.
Worked for a company that got bought out. They sent a new CEO in. He had a family some 2000 miles away. He said he was renting a furnished apartment whlle he looked about for a place.
Soon became obvious he was in no rush to move his family.
6 months later they let most people go, closed the location, and moved all engineering to their west coast facility where he was from.
Point is had he bought a home (or even rented) and relocated his family, it would have shown a committment to the company. It was simply a "tell sign" that he did not. Some of us did read it.
Maybe some just want you in the same trap. Married, kids, home owners, in debt. Maybe it is envy of your life style. Maybe she sees you as the new Daddy for her kids..........LOL
...There are better reasons to own a home, including these: a defined monthly cost of housing (assuming a conventional mortgage); mortgage interest tax deduction; a place you can decorate, improve, etc. as suits your asthetics; space for personal outdoor activities such as gardening, pets, children to play; and even the potential to learn new skills. Stability was part of the dream of the 50's, 60's and 70's, but that has fallen by the wayside for too many of today's homeowners, especially many of those who bought in the last 20 yrs, sorry to say.
There are intangible benefits of owning a home, but fixed monthly costs is not of them. This goes in the plus column for renting.
If you rent are a renting a home, outdoor space is equal whether you rent or buy.
My point was that landlords in most locations can raise the rent every time there is a new lease while a mortgage payment stays the same for 30 yrs. Also, vis a vis outdoor space, it depends on whether you delight in doing your own landscaping. A lot of homeowners actually do.
Over the years I have bought and sold a few houses and I find a lot of satisfaction at feeling "dug-in" to where I live. In fact, the single biggest shock I have had to weather since relocating to Miss. is the fact that my job may not be secure enough to allow me to buy a place here and really sink my roots down. Still working through that right now.
For me, being "stable" has a lot to do with my relationships with the neighbors, what sort of connections I have with the small businesses in my area and how much satisfaction I get from what the area has to offer. As I write this I have to say that so far I don't feel real "stable". The neighbors in my apt complex tend to keep to themselves and they don't seem to respond well to someone wanting to get to know them. Not sure what thats about. In the same way, the businesses don't seem to be very open to getting to know me or letting me get to know them. I share all of this not to whine, but to wonder if things would be different if I could boast a "permanent address" (IE. a house) rather than an apt address. Thoughts?
BTW: I am also a HUGE Dog Person so a house with a backyard means a lot to my relationship with my four-footed friend.
My point was that landlords in most locations can raise the rent every time there is a new lease while a mortgage payment stays the same for 30 yrs. Also, vis a vis outdoor space, it depends on whether you delight in doing your own landscaping. A lot of homeowners actually do.
The mortgage payment may remain the same but taxes and utilities like water/sewer/trash probably won't.
The same things that neccessitate raises in rents affect homeowners.
Home owner today are like a ship with their anchor firmly set in the oceans floor. Home ownership today is that just that you have to stay ( doesn't mean a more stably life ).
guess all those blocks with foreclosed and vandalized homes all over the country kind of throw that thought to the wind today.
Mortgage rates can get adjusted too.
What happened to all those people who couldn't pay the mortgage after it adjusted?
You could also buy a house and it turns out the neighbor is the ***** from hell.
Guess what? You are stuck there.
With renting,you could just move out.
My point was that landlords in most locations can raise the rent every time there is a new lease while a mortgage payment stays the same for 30 yrs. Also, vis a vis outdoor space, it depends on whether you delight in doing your own landscaping. A lot of homeowners actually do.
In Nj,landlords can't raise the rent more than 10 to 15% per year.
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