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Maybe for you. But it feels mighty good to have paid for home at age 60.
I'm sure it'll feel just as good to live in a tiny apartment and have money to travel the country too. And not try to pawn the house off on kids who don't want it.
DH and I bought an old Victorian with a huge yard over 20 some years ago in a small town/rural area. Mortgage lhas been paid off. Still fixing it up, but enjoy it.
We bought an additional 3/4 acre vacant lot adjoining it at tax sale to ensure no neighbors. I acquired a hobby...gardening.
We get to go out and enjoy our property and gardens in privacy, and do not have to share any of it as if it were a public park. I wouldn't say that is "little to no return". We'd go insane if we had to to live in an apartment with neighbors around us and a balcony with no more room than for a flower pot.
This attitude must have rubbed off...oldest daughter and her husband own a 200 year old farm house on acreage. It's big, but not a "McMansions"like those going up in other areas in their county on postage stamp sized lots. but it didn't cost as much, either.
I thought it was the American Dream, if you could acquire it. We all worked hard for our homes, both physically and at our jobs to earn money for them. Why should we feel guilty?
We live in a single three bedroom home with a large kitchen, fenced in yard and deck and a finished attic. We don't share our space with anyone but invited guests. Last weekend, we planted flowers all along the fence line and this weekend I'm getting blueberry and strawberry plants for the back of the yard.
I never said anyone should feel guilty. Where'd you get that from?
I don't understand why so many Americans want to take on home ownership.
I'll tell you why I bought one. I wanted to be able to play loud music or watch a loud movie at 2am with no repercussions. I wanted to be able to meditate or go to bed at 9pm without ever having to hear neighbors. I wanted to be able to have 12 people over for Hold Em or a cookout or movie night. I wanted to have room for a decent home theater. I wanted to have room for a few pets. I wanted to have an area to do landscaping. I wanted to have an area to grow fruits and herbs and veggies. I wanted to be able to experience solitude on my balcony / patio. I was tired of dropping off rent checks. I was tired of the damned apartment gate (always breaking down as well as making it difficult to leave on my aluminum motorcycle). I wanted a place to do motorcycle maintenance. I wanted a place to store a couple of motorcycles and a couple of cars. I wanted to paint the walls. I wanted to do whatever appliance, plumbing, electrical, and other modifications struck my fancy. I wanted to have three or four rooms. I wanted to have a full-size kitchen. I wanted to have room for room-scale VR. I wanted to be able to run around inside. I wanted a place for gym equipment. I wanted a large space to do my art. I wanted to be able to drive right into the garage and walk right into the house. I wanted to build a floorplan to my specifications and pick out all the materials (floors, counters, cabinets, appliances, lighting and plumming fixtures, window coverings, paint colors, etc.). I wanted to have farm animals behind me (horse, donkey, sheep, goats) rather than apartment buildings as far as the eye could see. I wanted to be able to comfortably house a few relatives or friends overnight for a few days. I wanted to have different areas of the house I could be in depending on my mood and activities. I wanted high ceilings. I wanted plush carpet. I wanted a huge pantry.
We live in a single three bedroom home with a large kitchen, fenced in yard and deck and a finished attic. We don't share our space with anyone but invited guests. Last weekend, we planted flowers all along the fence line and this weekend I'm getting blueberry and strawberry plants for the back of the yard.
I never said anyone should feel guilty. Where'd you get that from?
You seem to resent home ownership? But you've got something truly truly awesome! You can make that yard of yours an oasis, if you work at it. Take time to appreciate it!! The berries are a great start. We did those. Blackberries, blueberries, raspberries, and strawberries. Make sure you get "mixed" kinds of blueberry plants, they produce better. Let wild blackberries "cultivate". (meaning, trail all over the place) They get huge over the years (and make amazing pies).
Your home sounds amazing. Enjoy it, if you give it the chance.
Home ownership is way overrated. Its a terrible investment that often yields little to no return.
I'll never understand America's obsession with home ownership. Except to say its a status symbol. We humans have to have those.
No, home ownership builds invested communities and reinforces a sense of civic pride and engagement. People who own homes in a town or city will be more likely to participate in local government, vote and work to improve things like schools and other public amenities. A place filled with non-owning transients may be hip or lively, but it won't have the real strength of community. It's not a status symbol, but an expression or extension of a person. When you plant a tree on your property, you do so with a far greater investment than if you plant a tree in the backyard of a rented apartment, if you ever will.
America needs a big campaign, backed by the POTUS, to increase home ownership among minorities. Loan standards should be relaxed and banks should be encouraged to actively recruit blacks and Hispanics to take out mortgages, even when they have little or no savings and credit history. What could go wrong?
People who own homes in a town or city will be more likely to participate in local government...
This is true. I'm kind of apolitical when it comes to geopolitics and national politics. But I'm quite interested in the local scene. Two weeks ago I got to meet the mayor of Fort Worth and ask her a few questions. It was a fascinating two hour meeting she had with our neighborhood. And, I brought five people with me -- colleagues and friends who also live in the area. Afterward we all went and had lunch and talked about what we had heard, and we all are taking steps to help or get more involved going forward. None of us would ever have gotten that involved if we were just renters.
Quote:
Originally Posted by pennyone
When you plant a tree on your property, you do so with a far greater investment than if you plant a tree in the backyard of a rented apartment...
That's true too. My plants are my outdoor companions. I know my trees will be there for as long as I am.
America needs a big campaign, backed by the POTUS, to increase home ownership among minorities. Loan standards should be relaxed and banks should be encouraged to actively recruit blacks and Hispanics to take out mortgages, even when they have little or no savings and credit history. What could go wrong?
They could be bundled together and sold to a couple of GSE's that will ensure they aren't garbage loans.
Bubbles never happen in the housing market, so no risk.
Home ownership is way overrated. Its a terrible investment that often yields little to no return.
I'll never understand America's obsession with home ownership. Except to say its a status symbol. We humans have to have those.
I hope you are joking.
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And not try to pawn the house off on kids who don't want it.
