Reasons Why I Never Want To Own A House Again

[Mindful]

11 Reasons Why I Never Want To Own A House Again - Forbes

 

[Mr. H.]

Did you author that?

 

[Mindful]

Did you author that?

Can't you read?

 

[R.D.]

Did you author that?

Can't you read?

Um, did you author that?

 

[Mindful]

Did you author that?

Can't you read?

Um, did you author that?

Um to you too.

 

[Mr. H.]

Did you author that?

Can't you read?

USMB Rules and Guidelines US Message Board - Political Discussion Forum

 

[TheOldSchool]

Get a yurt and a bong.

 

[Alex.]

11 Reasons Why I Never Want To Own A House Again - Forbes

I can boil it down to one reason. I am too busy to take care of a house.

btw great article! Did you write that?

 

[Mr. H.]

I hit the trifecta back in 2009 when I bought this place. Home prices were depressed, interest rates were low, and the Feds wiped $8,000 off my income tax bill as a first time home buyer.

We first went 30 year at 3.75% but a couple years ago was able to go 15 years at 2.6+%. Cool beans.

 

[Alex.]

I hit the trifecta back in 2009 when I bought this place. Home prices were depressed, interest rates were low, and the Feds wiped $8,000 off my income tax bill.

We first went 30 year at 3.75% but a couple years ago was able to go 15 years at 2.6+%. Cool beans.

I am not there yet I want to scream and shout and dance all about. The money stuff is for another time but you have wise words for the future.

 

[Mr. H.]

Well, I was fairly flush when we bought this place. Still owe over $80K. But now I'm broke again LOL.
Enjoy that $2 gasoline, bitches.

 

[Iceweasel]

11 Reasons Why I Never Want To Own A House Again - Forbes

I think she's an idiot. First, as far as maintenance/repair work goes, the quality of that depends a LOT on who the landlord hires, if he isn't hacking it out himself. They typically buy cheap shit and tenants typically abuse/neglect it. Quality of life doesn't matter to her?

Many people buy too big, too expensive. You don't need to. You can buy smaller and cheaper and pay it off faster, like me. I saved about $80k doubling and tripling down on the principle. Now I only have property taxes, where can I go to live for that?

Homes and autos aren't the best investments out there but you gotta live and drive around.

 

[Mindful]

11 Reasons Why I Never Want To Own A House Again - Forbes

I can boil it down to one reason. I am too busy to take care of a house.

btw great article! Did you write that?

I clicked on the link I provided. And I read an article by......Forbes, would you believe!

 

[Mindful]

I never thought I'd reach a stage in life where I don't want to own anything. Have no contracts and payments.

 

[westwall]

We own our two places outright. I do the majority of the work on them and everything still works! The Paris flat is pretty small so it's a breeze to work on. Next time we go over we plan on heading down to Provence to do some work on my wife's cousins place. She's remodeling a 14th century barn into a home. Pretty cool place from what I've seen in the pictures.

 

[iamwhatiseem]

In 1989 my wife and I bought a "fixer upper" for $12,000 (that's right)
It was an 800 sq. ft 2 bd, 1 bath. The foundation was solid, and it sat on a .8 acre lot. Rare.
We lived there for about 7 years, I replaced every sheet of drywall...every stick of trim, the windows, sided it...new roof and rewired the house. We turned that fixer upper into a little doll house.
We sold the house for $49,000.
Our house payment was $90 x 84 months = $7560
We put about $14,000 in it in repairs and remodel, add that to the $7560, and the $12000 purchase = $33,560
Sooo...in 1989 we were had no money for a down payment for a home...not a penny.
In 1996 we had over $30,000 for a down payment after selling. And we lived in a house for 7 years mind you.
Or we could have rented.

 

[Iceweasel]

In 1989 my wife and I bought a "fixer upper" for $12,000 (that's right)
It was an 800 sq. ft 2 bd, 1 bath. The foundation was solid, and it sat on a .8 acre lot. Rare.
We lived there for about 7 years, I replaced every sheet of drywall...every stick of trim, the windows, sided it...new roof and rewired the house. We turned that fixer upper into a little doll house.
We sold the house for $49,000.
Our house payment was $90 x 84 months = $7560
We put about $14,000 in it in repairs and remodel, add that to the $7560, and the $12000 purchase = $33,560
Sooo...in 1989 we were had no money for a down payment for a home...not a penny.
In 1996 we had over $30,000 for a down payment after selling. And we lived in a house for 7 years mind you.
Or we could have rented.

Well yeah, but that's apparently not the American way for many any more. They think they can buy big, sell it in a few years after doing nothing to it, buy bigger, sell, buy bigger, etc. living on credit and dreams and if it goes south, it's the greedy bankers' fault for predatory lending.

 

[rightwinger]

1. As investments go, it’s not always a great deal. While it’s true that some homes do appreciate, so do many other assets. If you bought a house for, say, $200,000 thirty years ago, it would be worth $468,375.09 today. While that gain feels impressive, that appreciation is based solely on inflation – which means that, in theory, the same appreciation would have happened with any asset. While we did “make” money on the sale of our house, I suspect we would have had a similar increase had we invested that money in the market or in our business.
2. The mortgage interest deduction doesn’t make up for the fact that you’re still paying a lot of interest. While I understand that it’s possible to buy a house without a mortgage, the large percentage of homeowners (more than 70%) take out a loan. With average mortgage rates at 4.3% (as of this morning), you’ll actually pay $356,307.44 for a $200,000 home: $156,307.44 in interest alone. Averaged over 30 years, that works out to a little over $5,000 per year (even though in practice you pay the most interest at the beginning). Assuming you’re in a 25% bracket – and you itemize – that works out to a tax savings of just over $1,300 per year. But the word “savings” is somewhat of a misnomer because you’re still out of pocket more than you get back in tax savings: in our example, you would “save” less than $40,000 while paying out more than $150,000 in interest.

Compared to what? Living in your parents basement?

You have to live somewhere. So if you buy a 2500 square foot house or rent one....you still have to pay
Over the long run, you will have something to show for your home ownership vs renting

 

[Mindful]

But we don't own it. The bank owns it.

 

[Iceweasel]

But we don't own it. The bank owns it.

Only if you owe them money.