U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-06-2021, 05:15 PM
 
35 posts, read 12,646 times
Reputation: 110

Advertisements

Quote:
Originally Posted by mathjak107 View Post
We will likely leave our kids a lot of money in investments they can liquidate and have lots of choices to buy whatever and wherever they like and not have to deal with some old house I owned
That is a great take. In reality most kids probably prefer not to have to deal with the old house, but most parents don't think of it this way.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 04-06-2021, 05:19 PM
 
Location: East Coast of the United States
22,095 posts, read 23,300,858 times
Reputation: 18698
Quote:
Originally Posted by mathjak107 View Post
We will likely leave our kids a lot of money in investments they can liquidate and have lots of choices to buy whatever and wherever they like and not have to deal with some old house I owned
What difference does that make since a house is likely to be their most expensive possession anyway?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-06-2021, 05:27 PM
 
2,667 posts, read 1,535,796 times
Reputation: 5299
Quote:
Originally Posted by SFOtoMEM View Post
I am temporarily relocating for work, and planning to use this as an excuse to sell my house in CA. I have reached the realization that I just have zero desire to be a homeowner. I have spent SO much money and time on this house, but it's never good enough; I always see something else that could be improved, updated, or fixed. I dislike dealing with contractors and repair people. I love the idea of not being invested in a property and just calling the apartment office if something needs to be fixed.

Has anyone else reached the same realization, and what were your reasons? How do you explain this to your family? I am expecting some pushback from my parents for renting when I can technically afford to own a home, but just don't want the hassle.
Maybe a condo is for you instead. Less maintenance issues that you have to deal with.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-06-2021, 05:29 PM
 
91,592 posts, read 88,888,538 times
Reputation: 66181
Quote:
Originally Posted by BigCityDreamer View Post
What difference does that make since a house is likely to be their most expensive possession anyway?
We don’t own one nor care if we have one or not..there is the hassle of selling it , the costs of selling it and the expenses of carrying it until it’s sold ....cash is cash..

Plus when siblings are involved if one kid is going to live there and the others want the money it makes a difficult situation
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-06-2021, 11:18 PM
 
Location: Silicon Valley
18,817 posts, read 27,990,657 times
Reputation: 38226
Quote:
Originally Posted by SFOtoMEM View Post
I am temporarily relocating for work, and planning to use this as an excuse to sell my house in CA. I have reached the realization that I just have zero desire to be a homeowner. I have spent SO much money and time on this house, but it's never good enough; I always see something else that could be improved, updated, or fixed. I dislike dealing with contractors and repair people. I love the idea of not being invested in a property and just calling the apartment office if something needs to be fixed.

Has anyone else reached the same realization, and what were your reasons? How do you explain this to your family? I am expecting some pushback from my parents for renting when I can technically afford to own a home, but just don't want the hassle.
Yep. Been there, done that. So over it. I love that all maintenance problems are somebody else's problem now, as a renter. And the freedom to move if I want to. If there are problems with my neighbors (tenants), that's also someone else's responsibility to deal with. The trade-offs are worth it for me now, to be a renter.

Just today I was thinking, as I was washing dishes, that I don't even have to pay for heating the water here. It's an old building and has a boiler. I don't have to pay for the water or sewer or garbage, either. But, today I was thinking about yet another electricity rate hike (I do pay for my electricity), but that at least I don't have to pay to heat my water, and I was really grateful for that.

I miss some things, but not enough to be a property owner again.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-07-2021, 04:37 AM
 
1,647 posts, read 1,402,934 times
Reputation: 6167
I plan on selling and moving to an apartment in the next 5 years or so. I'm a recent widow and I just don't want the responsibility of a house anymore. I have never liked yardwork, I'm not a do it yourself kind of person and I'm tired of shoveling snow. My husband enjoyed house projects, I don't, I will miss my big porch but I will adjust.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-07-2021, 06:12 AM
 
2,563 posts, read 1,173,237 times
Reputation: 3763
I've owned four homes over the course of decades. There was a year when I rented in a well managed building. There is a lot to be said for being able to pick up the phone and get work done right and for not having to maintain property. The money is something that varies with time/market/ location. When I was younger I gave up a lot of my personal life to restore a turn of the century town/row house. Financially, it paid off, but the sacrifice to my personal and social life is a regret.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-07-2021, 10:45 AM
Status: "Cut the CRAP(Critical Race Applied Principles)" (set 26 days ago)
 
Location: South of Heaven
2,611 posts, read 761,342 times
Reputation: 4086
Quote:
Originally Posted by SFOtoMEM View Post
I am temporarily relocating for work, and planning to use this as an excuse to sell my house in CA. I have reached the realization that I just have zero desire to be a homeowner. I have spent SO much money and time on this house, but it's never good enough; I always see something else that could be improved, updated, or fixed. I dislike dealing with contractors and repair people. I love the idea of not being invested in a property and just calling the apartment office if something needs to be fixed.

Has anyone else reached the same realization, and what were your reasons? How do you explain this to your family? I am expecting some pushback from my parents for renting when I can technically afford to own a home, but just don't want the hassle.
See that's one of the reasons I like home ownership. I saw those things when I was renting too, but couldn't do anything about it. In my own house I can update and upgrade as I desire. As far as fixing things goes though, yeah you got me there. It was better just calling the land lord and having him deal with it.

But no it's not for everyone and that's fine.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-07-2021, 12:06 PM
 
12,386 posts, read 6,767,503 times
Reputation: 19965
I WISH I could decide home-ownership wasn't for me, but I've had a lifelong interest in owning real estate and a lifelong aversion to renting other people's real estate. I will probably always have to own ONE house that I can rent out for income if I want to and/or retreat to when I need to, knowing it's securely mine and no one can ever evict me.

But, as others have said, it's actually quite expensive to maintain - even if it's paid off - and making repairs and upkeep is a pain as you age. I actually envy apartment-dwellers!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-07-2021, 12:48 PM
 
91,592 posts, read 88,888,538 times
Reputation: 66181
We know quite a few people who just their homes fall into disrepair.

some haven’t updated in decades and live in old dumps .

It cost more today to renovate and update their homes then they even paid decades ago for them .

I could never live like that in a dump , Just so I can say I own my home.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top