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My dad is one of those people who tries to convince everyone to buy a house. Part of that is because he is a real estate agent, so always trying to drum up business, and part of it is just his personality. He really does think that everyone should find a way to be a homeowner. He has tried multiple times to convince me to buy rental properties. It is who he is. He honestly doesn't understand why I don't want to do this.
I also fall into the category of not wanting kids, which, as was mentioned before, brings the same sort of stigma. "What do you mean you don't want kids?" is an awful lot like "What do you mean you don't want to buy a house?", and is said in a similar tone of voice.
Some people should be homeowners. Some people should be renters. And some can make both work equally well. Don't do something just because everyone thinks you should. Do something because it is the right thing to do for you (as long as it is legal, that is)
My dad's the same way. I thinks it's partially personality (he's been in real estate and sales his whole life too), and partially the baby-boomer "American dream" mentality affecting nearly all people of that age that later generations seem less hung up on.
That's the last damm thing on my mind right now with all the layoffs and cutbacks going on and trying to save up money to even have that type of conversation. They talk as if I should have my own home because 35 years old. My aunt is 53 and lives in an apartment and I know plenty of people who are renting. And why do these people care whether I'm in a house or apt? Either way I'm still on my own and taking of myself. It's not like I'm living at home with mommy. I swear the next person who tells me I should I buy a house is going to fat lip.
Three people in 7 days have said this to me
I guess they're trying to help, but a lot of people have fallen for the mantra that because owning is generally better than renting under the right circumstances, that means everybody should own.
Do what you're comfortable with, and tell them nicely to mind their own business. Maybe you could make a joke like, "I'll buy as soon as you give me my down payment" or something like that.
I'm not at all convinced that this is a good time to buy in any case.
My dad's the same way. I thinks it's partially personality (he's been in real estate and sales his whole life too), and partially the baby-boomer "American dream" mentality affecting nearly all people of that age that later generations seem less hung up on.
The problem with the "American dream" mentality is that it has become bloated into a requirement for people to buy more than they can afford and drown in debt. The American drean quickly becomes a nightmare when you can't make the payments on your house and you're drowning in debt. A lot of people haven't gotten the message, it seems.
I guess they're trying to help, but a lot of people have fallen for the mantra that because owning is generally better than renting under the right circumstances, that means everybody should own.
Do what you're comfortable with, and tell them nicely to mind their own business. Maybe you could make a joke like, "I'll buy as soon as you give me my down payment" or something like that.
I'm not at all convinced that this is a good time to buy in any case.
On Friday I was playing around saying that this is the"Out of debt" strut since I had just paid off my credit card. Then the coworker said-"let me see the Home Owner" strut and I just laughed and said-"I don't how that strut goes" LOL
On Friday I was playing around saying that this is the"Out of debt" strut since I had just paid off my credit card. Then the coworker said-"let me see the Home Owner" strut and I just laughed and said-"I don't how that strut goes" LOL
Seriously though, homeownership before you're financially ready is a major source of problems. Owning a home is not the panacea that many people seem to think it is, especially if you buy something unaffordable at an inflated price, the course so many of the 'experts' have been urging upon us for years.
One thing you should probably do, if you don't want people to offer suggestions about buying a house, is to not discuss your finances with them at all. If you're out of debt, keep it to yourself. It makes it harder for other people to bring up the topic.
Seriously though, homeownership before you're financially ready is a major source of problems. Owning a home is not the panacea that many people seem to think it is, especially if you buy something unaffordable at an inflated price, the course so many of the 'experts' have been urging upon us for years.
One thing you should probably do, if you don't want people to offer suggestions about buying a house, is to not discuss your finances with them at all. If you're out of debt, keep it to yourself. It makes it harder for other people to bring up the topic.
Most of them think because of where I live I pay a high rent and feel I should just get a house for all the money I'm paying each month.
I think you are right.
Twenty years ago and before, everyone could count on two things: your house would always appreciate, and your income would always go up. We bought our first house in 1972, It was just a little more than we could afford because my husband was up and coming and we felt buying a house was not really spending money; it was an investment. So, we sold that house in 1992 and made 4x what we paid. We bought another that sold last year, after 3 years on the market, and we still made some money, but we were one of the lucky ones.
We have downsized, and bought a house again, but I wonder if we did the right thing? We have friends who have opted to rent because they do not want to be held prisoner by houses which they may not be able to sell when they want to. So who is better off now? A person who is sitting on a pile of capital, and writing a rent check every month, or someone who is in a house they are happy with, but fear they will lose money and not be able to find a buyer? Only you can decide for yourself, but in your situation I would rent too.
I think you are right.
Twenty years ago and before, everyone could count on two things: your house would always appreciate, and your income would always go up. We bought our first house in 1972, It was just a little more than we could afford because my husband was up and coming and we felt buying a house was not really spending money; it was an investment. So, we sold that house in 1992 and made 4x what we paid. We bought another that sold last year, after 3 years on the market, and we still made some money, but we were one of the lucky ones.
We have downsized, and bought a house again, but I wonder if we did the right thing? We have friends who have opted to rent because they do not want to be held prisoner by houses which they may not be able to sell when they want to. So who is better off now? A person who is sitting on a pile of capital, and writing a rent check every month, or someone who is in a house they are happy with, but fear they will lose money and not be able to find a buyer? Only you can decide for yourself, but in your situation I would rent too.
The thought of escalating rent freaks me out, though. If you own, you can pretty much control your housing costs.
When the Bay Area housing market was going nuts out here, rents were, too. And then there was a spate of bank robberies done by an older gentleman.... who needed the money to pay his rent, because when he retired he could easily afford it, but they had jacked it up so much (in keeping with the market) that 10 years later he just couldn't anymore....
Scares the willies out of me. I'd rather be sitting in a paid off house than rent.
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