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I have to say that South Florida is also a lot more forgiving than NYC, but even here, it's rental's paradise. I'm not excluding the possibility of buying a home eventually, but I am just too comfortable not having this kind of stress on me. Boiler brakes - not my problem.
I feel you MM. I lived in southern California and it's the other beacon of light besides NYC, and since I have moved Pa, it's MUCH more forgiving then Ca. Pretty much what fleetiebelle said.
It's really hard to say about what is comfortable. In the midwest and the south, you can do pretty well on a lower salary, you can buy homes much cheaper.
On the west and east coast the salaries sound good on paper, when you start to look at the total cost of things, many times the lower salaries in the midwest and the south actually can have a better standard of living.
This is a good point. I'm a new home owner and it's...how do I say...there's so much involved. It's a time suck to start. It's way more expensive than renting. Frankly, I'm not really buying into the investment/return argument. Problem with the plumbing? My problem $$. 5 trillion leaves falling on the ground every fall? My problem - back breaking work. Property taxes, insurance, general upkeep? wow! I didn't know how much free time I had when I was a renter.
OTOH, I spent Sunday raking the leaves we didn't bother with last fall (we have a 0.6 acre forest lol) and I really enjoyed myself. I look forward to landscaping and creating some green art. I have the sense of home I did when I was 10. So, that's pretty cool. But, for those that like to travel and seek adventure, etc, I wouldn't recommend it.
I understand that there is could be joy involved in taking care of your own home, from gardening/landskaping to raking the leaves. I think there is definitely something to be the owner of your own home.
But I completely hear you on having all these new responsibilities that renters are not accustomed for. I'm actually dreading it.
I understand that there is could be joy involved in taking care of your own home, from gardening/landskaping to raking the leaves. I think there is definitely something to be the owner of your own home.
But I completely hear you on having all these new responsibilities that renters are not accustomed for. I'm actually dreading it.
I don't mean to damper your spirits since it can be a lot of fun, especially if you're active and creative. Home based projects are the bomb for that sort of personality. But, despite all my research, I simply had no idea what I was getting myself into. I suppose that's the way with most things. One perk is the tax deduction. I'm not sure how that works out between renters and home owners since I haven't crunched the numbers to look at potential gains in either direction, but I am saving several thousand in taxes (in our specific situation).
Not only that, but in addition to the interest, there are many hidden cost/fees packaged into the loan agreement.
Do your homework. They just enacted new disclosure law that went into effect in January.Nothing is hidden unless you close your eyes.
Seriously, for what a house costs, a mortgage is really about the only way anyone can buy one. Of course you can rent, but hell that costs as much as a mortgage payment.
Yes Braunwyn, I hear you, and I agree 100%. Good points about wanting to do less work in return for spending more time with the baby. That slipped my mind; you're right Braunwyn.
This is a good point. I'm a new home owner and it's...how do I say...there's so much involved. It's a time suck to start. It's way more expensive than renting. Frankly, I'm not really buying into the investment/return argument. Problem with the plumbing? My problem $$. 5 trillion leaves falling on the ground every fall? My problem - back breaking work. Property taxes, insurance, general upkeep? wow! I didn't know how much free time I had when I was a renter.
OTOH, I spent Sunday raking the leaves we didn't bother with last fall (we have a 0.6 acre forest lol) and I really enjoyed myself. I look forward to landscaping and creating some green art. I have the sense of home I did when I was 10. So, that's pretty cool. But, for those that like to travel and seek adventure, etc, I wouldn't recommend it.
Well, I travel quite a bit. The house certainly never has been anything to keep me home. I've taken a rather nice vacation, every other year, since I bought this house.
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