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Right now Im just trying to look down ahead on my future weather I plan to rent an apartment, buy a house or Condo.
Heres the thing I DESPITE house repairs like I have absolutely no desire to repair houses If I owned a house I would 100 percent just rather pay someone to fix even a toilet, plumbing, crack ceilings etc. I just hate that work like I don't even like Painting , gardening, none of that stuff.
So with this kind of mindset I don't know if im better off renting an apartment, buying a house or condo
Heres the thing
I dont plan to have kids ever and my income is just average.
so if you hate spending time or money fixing up your house whats the best option to really do?
Right now Im just trying to look down ahead on my future weather I plan to rent an apartment, buy a house or Condo.
Heres the thing I DESPITE house repairs like I have absolutely no desire to repair houses If I owned a house I would 100 percent just rather pay someone to fix even a toilet, plumbing, crack ceilings etc. I just hate that work like I don't even like Painting , gardening, none of that stuff.
So with this kind of mindset I don't know if im better off renting an apartment, buying a house or condo
Heres the thing
I dont plan to have kids ever and my income is just average.
so if you hate spending time or money fixing up your house whats the best option to really do?
If you have the money to pay for any repairs, definitely buy as then you’ll be earning equity and have something to pass on. And earn deductions on taxes.
What are the relative costs to rent vs. to own in your area?
In my area, it is actually cheaper to own than to rent.
There are advantages to owning a home--equity, potential to re-sell for a profit, option to pay it off and rent it out, it will be yours so you can do what you want to it.
There are disadvantages to owning a house as well, mostly the repairs you mentioned and the general upkeep. Raking your own leaves, mowing the grass and depending on where you live--doing your own snow removal.
Not liking to DIY when it comes to home repairs is not necessarily a barrier to owning a house if you want one. There are many people who don't like to do home repairs--hence the existence of residential contractors who will happily do your electrical work , drywall, or whatever else needs to be fixed.
I guess it all comes down to what your eventual goals are and if you are planning on staying in your current location for a longer period of time?
Right now Im just trying to look down ahead on my future weather I plan to rent an apartment, buy a house or Condo.
Heres the thing I DESPITE house repairs like I have absolutely no desire to repair houses If I owned a house I would 100 percent just rather pay someone to fix even a toilet, plumbing, crack ceilings etc. I just hate that work like I don't even like Painting , gardening, none of that stuff.
So with this kind of mindset I don't know if im better off renting an apartment, buying a house or condo
Heres the thing
I dont plan to have kids ever and my income is just average.
so if you hate spending time or money fixing up your house whats the best option to really do?
What are the relative costs to rent vs. to own in your area?
In my area, it is actually cheaper to own than to rent.
There are advantages to owning a home--equity, potential to re-sell for a profit, option to pay it off and rent it out, it will be yours so you can do what you want to it.
There are disadvantages to owning a house as well, mostly the repairs you mentioned and the general upkeep. Raking your own leaves, mowing the grass and depending on where you live--doing your own snow removal.
Not liking to DIY when it comes to home repairs is not necessarily a barrier to owning a house if you want one. There are many people who don't like to do home repairs--hence the existence of residential contractors who will happily do your electrical work , drywall, or whatever else needs to be fixed.
I guess it all comes down to what your eventual goals are and if you are planning on staying in your current location for a longer period of time?
Yea I plan to stay at my current location for quite a while with that said I just planned to contract most big repairs ( cracks, no light, water leaks etc) I don't know if that makes financial sense for me though I never been a handy man at all and have no desire to be so if Im spending money on every repair I don't know if buying a house is a wise decision
I don't mind renting or buying a condo either.
From what I hear getting a Condo requires less maintenance so there's something.
Location: Stuck on the East Coast, hoping to head West
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You can outsource maintenance, but you can't outsource ownership. Even if you don't do the work, you'll be responsible for finding someone qualified to do it and then making sure it's done correctly. This is expensive and a time suck.
I am getting ready to sell my house and the number 1 reason is maintenance. It is never-ending. As houses age, it just gets more expensive and time-consuming.
Is despising home repairs your only decision point in buying versus renting? If so, there are numerous options, such as paying for repairs, homeowner warranties, maintenance services, buying a newer home/condo, etc.. Of course, all of these will cost you money.
While renting will place responsibility for these repairs with your landlord (who will also pay others to do repairs), the landlord will also gain the equity appreciation, which (depending on the home), will be much higher than the cost of most home repairs.
Here is a major expense renters don't have:. Property taxes..but you can bet your life that the renter will pay every penny of his landlord's property taxes. Same goes for HOA fees. Also, besides not paying your rent, calling the landlord everytime you need a small repair is a sure fire way of getting rent increases or simply being told to leave. As large corporations take an ever increasing share of residential rentals, the old jack of all trades guys willing to drop everything and make a simpleton repair for you are becoming extinct. Manpower is expensive. Don't know your age, but you should probably go ahead and price assisted living now...the prices are jaw dropping. Like several hundred thousand up front and 4-7 thousand per month...and many things are considered add-ons...Many insist on living in very high col cities, but often ball at paying the going rates for services. Quite a few, never even worked in the private sector.
Despite your despising house repair, most newer houses don't need a whole lot of repair so there's still possible options for you to be a house owner and not despair. They do need cleaning and yards need maintenance. Condos don't have the yard work, but they do need occasional maintenance as well. A newer small house may keep your repair needs smaller and if you can find a good general purpose handyperson, by all means keep them available.
Renting is an easy answer to not having to work on houses, but as a renter, you don't have much control over your housing. ;
Also, if you've never owned your own house, you may have never met up with the 'pride of ownership' which a lot of people experience. Working on your own house to make it the way you want it can be very satisfying. You may find fixing your own house to not be as onerous as you believe it may be.
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