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Old 09-22-2010, 07:58 PM
 
Location: DC Area, for now
3,517 posts, read 12,054,907 times
Reputation: 2141

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Quote:
Originally Posted by Umbria View Post
So, I imagine Dirona is fetching your slippers and morning paper by now.

What else? How's it going? Update!!
I'm trying to teach Dirona to stay away from my stuff and only take her own abundant toys. So no slipper for her! She's been pretty good at that.

She sits and stays for 2 minutes with her dinner on the floor. She now pays attention to me most of the time outside and usually will come when beckoned. She sits before I throw her a toy and sometimes sits without me asking. She's starting to act this the place is her home and is alerting on things. She comes when beckoned most of the time now but I haven't started teaching "come" yet. She loves to swim and play with dogs and play fetch & tug. I discovered that when she dries, the dirt just falls off of her. Lucky me!

On the down side we are doing remedial housebreaking. So she is always tethered in the house. She's better but I don't trust her. She barks at the cats trying to get them to play her - both annoying and ineffective. She barks at my coffee grinder but I'm making a bit of progress at stopping that.

She got a nervous, scared, reactive Airedale who had never played with another dog to play raucously with her for a couple of hours. She's a lot of fun but she takes almost all my time too. I think she's going to be a really good dog when she's trained and grown up.

 
Old 09-23-2010, 09:03 AM
 
171 posts, read 532,777 times
Reputation: 333
"...the money I would have spent on rent for the last 18 years would have been more."

I used to believe that as well, but since selling my house and renting, I've taken a closer look at the whole "home ownership as investment" philosophy, and found, in my opinion, a number of reasons to stay a renter.

If you factor in the expenses of home ownership such as maintenance, repair, taxes, and insurance, the gap between the two begins to narrow. I can't even begin to tally how much I spent at Home Depot every weekend for repair or maintenance items. Not to mention how much time of my life I spent fixing this or painting that, mowing, planting, digging, spraying... If I hadn't been able to do my own work, some of those expenses would have been astronomical.

If you have a mortgage, it gets even worse, because you're also paying interest. You're sort of "renting" your house from the bank, until the loan is paid off. Then there are the less obvious things like lost opportunity costs from not being able to invest the money in something else. For example, although the investing climate has been lousy lately, even if you had invested in a low-risk short-term bond fund the past few years, you could have gained around 4.5 to 5%. This while housing prices have fallen up to 50% in some locations.

There's also a mobility factor. If I want to see how I like living in another location, I can just go. No hassles related to selling, if you can even sell, these days. Also with renting, I can live in a nicer area than I would care to buy in. I would never pay half a million dollars for a home again, however, I can easily afford renting one.

I'm not saying homeownership is a bad idea all the time. It may make sense under certain conditions. But when I hear statements like "if I sold right now, I'd make x amount of money profit" or "buying a home has been a great investment", I'm not so quick to agree anymore.
 
Old 09-23-2010, 09:43 AM
 
Location: Edina, MN, USA
6,954 posts, read 7,396,297 times
Reputation: 16288
Newt -- We'll agree to disagree on this.

What I have paid on the mortgage each month would barely allow me to rent a room in someone else's house. My interest has always been low. I bought a well built house - repairs, sure, but in 15 years they have been minimal. It's about freedom - to have company whenever I want it and as many as I want. It's a safe place for my dogs where they have a hugh fenced yard to run free. My friends can bring their pets over. I can foster dogs - I ask no one. I CAN paint whenever I want and whatever color I want. My neighbors are far enough away that I can't hear what goes on at their residence, not can they hear me. I haven't written a check to Uncle Sam in over 20 years. I could go on and on. Yes, moving is more complicated - a real PIA. All in all, I stand by what I said earlier. At the end of the day, I sell and walk away with a check & a bunch of boxes & not just a bunch of boxes. Oh, I have an IRA - I've seen first hand what investing can do to you financially. But, each month I paid the mortgage, I knew it was adding to my future assets and not toward someone else's (landlord).

Homeownership - 10
Renting = 0
 
Old 09-23-2010, 10:15 AM
 
Location: Near a river
16,042 posts, read 18,985,208 times
Reputation: 15649
Newt and Umbria

I believe you are both right. It depends on your needs and your stage in life. One thing you also have to consider though is liquidating your largest asset--your home, and stashing/investing that money while you rent. If you go into a nursing home the cash will be gone in a flash. If you can prove that you are going to return to your home after a stay in a nursing home, I do not believe they can go after that. It would be your health insurance alone covering it. Plus there is the Declaration of Homestead for creditors. Not that either of you would need that, but in some unforeseen circumstances some people would.

I would rent happily IF:

I were not such a wuss about noise around me
(if I could get a super duper insulated apt.)

I could have my dog

There is a yard for the dog

The neighborhood is nice and close to everything

The rent does not exceed what I can afford ($800 max and hopefully with utiities)

The place is handicap accessible for future years

It is a nonsmoking house



At least two of the above are not likely so I have to pass on renting. but if you don't have these needs, it would be easy and light to rent, and as you say, be able to move if and when you please. My sister owns a home next door to the creep who put the addition on her house and did a really lousy job, she almost took him to court. She has to face him and his wife everyday as their properties adjoin. That kind of thing...not being able to move so easily when you want, when you are entrenched in your property.
 
Old 09-23-2010, 11:13 AM
 
4,574 posts, read 7,063,489 times
Reputation: 4222
You know the old saying...you don't own your home, it owns you.
 
Old 09-23-2010, 11:57 AM
 
Location: Tennessee
34,692 posts, read 33,704,884 times
Reputation: 51921
Quote:
Originally Posted by newt View Post

I'm not saying homeownership is a bad idea all the time. It may make sense under certain conditions. But when I hear statements like "if I sold right now, I'd make x amount of money profit" or "buying a home has been a great investment", I'm not so quick to agree anymore.
I've rented my whole adult life in three different states and the District of Columbia and the only thing I missed about living in a house is barbecuing in the back yard. I do not have children so I do not have to leave them something and my paycheck and pension have always been enough to live the way I want to live and save money that others spend on house and yard maintenance and repairs. I have more time for myself than home owners but most of all, if I had to move for any reason, I could do it in about 3 weeks because I wouldn't have to sell a house. I've moved 9 times since I was 21.
 
Old 09-23-2010, 12:16 PM
 
Location: Edina, MN, USA
6,954 posts, read 7,396,297 times
Reputation: 16288
Before this goes any further - there are many other threads that have thrashed this subject to death - this thread has an entirely different purpose so let's take it to the appropriate forum.
 
Old 09-23-2010, 01:36 PM
 
Location: Near a river
16,042 posts, read 18,985,208 times
Reputation: 15649
Quote:
Originally Posted by Umbria View Post
Before this goes any further - there are many other threads that have thrashed this subject to death - this thread has an entirely different purpose so let's take it to the appropriate forum.
Yes, you're right. It's "where will you go and why." But if the "why" is because there's lots of good rentals, for ex, these kinds of comments could creep in...maybe someone would point out the pro's and con's of renting. But let's remember the title of the thread.
 
Old 09-23-2010, 02:17 PM
 
Location: Sarasota Florida
1,236 posts, read 3,609,307 times
Reputation: 1230
Default Women retiring alone to a new city/state ~ where/why?

Sometimes we do go off topic but it's always interesting

I enjoy hanging out on this very informative thread although still stuck in southern Oregon due to the severe drop in market value of homes. SOMEDAY I will relocate alone to either Florida or California even though the thought of relocation alone is daunting to me.

Oregon has a very long, bleak, damp winter; spring, summer & fall are very nice but I miss the mild winters of Florida
 
Old 09-24-2010, 12:54 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,622 posts, read 39,986,663 times
Reputation: 23772
Quote:
Originally Posted by ConeyIsBabe View Post
...I enjoy hanging out on this very informative thread although still stuck in southern Oregon due to the severe drop in market value of homes. SOMEDAY ... That could be awhile, (see below) I'm formulating "Plan E"
Oregon has a very long, bleak, damp winter; spring, summer & fall are very nice but I miss the mild winters of Florida
Just got my most recent home assessment, it dropped 30% (and reflects assessed value as of Jul 2009, so much more to fall even tho dropped 30% last yr). Now, if that would only translate to an equal property tax savings I could afford to stay, BUT... they raise the levy to equal slight increase in taxes, tho value fell significantly

Gonna be a long cold WET winter (got 8 " of rain in last 2 weeks). I spent most my travel money on multiple trips to Colorado ($79 each way SWA ). I see SMF (Sacramento) is now $49, so maybe I will squeeze in a mid winter 'sun' escape. I need to use a free ticket by Dec, maybe a TN trip! (and of course ~ 400k 'UA miles'... hoping to do a 'round the world')
Back to the OP...Women retiring alone to a new city/state ~ where/why? where = anywhere nicer than here (tough to beat, but drier will help), Why = 'Because I can . THE LIST: access to a CHEAP lap pool ($<100/yr), 1 hr to international airport. 20 min to a college, Decent gardening and music scene (classical / chamber / baroque), COOL sleeping nights in summer <60F. no Humidity, LOTS of outdoor recreation; Happy, adventurous, FUN, and educated seniors. Low cost of living, (Plenty of cheap fruit year around), High speed internet would be really a nice treat for a change FREE WiFi for entire town even better. NO stoplights... Lots of hot dish dinners (just a few of my 'more important' desires)
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