this post was submitted on 05 Dec 2023
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It's cute that you think life is inexpensive once you pay off your mortgage at 65 and have spent several thousand dollars throughout the years maintaining that house that would've otherwise been put into your savings account
Ah yes. Fill a landlords pocket or a bank. Does it really matter? At least after you pay your mortgage off, that money just goes to taxes and then you “own” that property. Instead of renting until you die. Get real.
I have done both, home ownership is also expensive and more stressful. Unless you've owned a home for over 10 years maybe don't get so mad at me for telling you that the American dream is a lie
I have done both too, owning is so much better even with the maintenance.
Did changing the water heater element that could only be accessed from outside in the middle of winter suck?
Yep, but I had the option to just call a guy if I wanted.
But I could hang pictures, paint and reshape the landscape however I wanted.
Ok great. I'm writing these messages as a warning to those bystanders who are thinking about buying. It can be a way worse experience than I thought it could be.
But what do I know, I'm just MiSeRaBlE
I'm on your side bruh. We've owned our home since 2013. It's appreciated $100K, but we also spent $60K last year alone in windows/siding/getting the whole house replumbed because there ended up being a massive leak in the foundation.
We had planned for the windows/siding, plumbing was just a nice bonus (it was noticed by our siding contractor actually).
We've also replaced the HVAC, leveled the foundation, replaced the HWH, replaced the roof (that was a lucky insurance thing though due to a massive hail storm), replaced the gutters, and the flooring over the years since buying.
So...if we ever decide/need to sell, we'll break even.
And we didn't buy a shitty house either. It was built in 1995. It was already 18 years old when we got it, and it's nearly 30 now. People don't realize that this shit doesn't last forever.
That being said, while I will be Team Renter when we leave this duty station, I'm also in a privileged position being that I'll have a pension. I completely understand people who don't have that safety net wanting a little more stability/security.
That sounds like such a hassle! Worse than mine stress wise for sure but it sounds like you'll do a little better than I did financially. I bought a somewhat shitty house admittedly (built around 1960 and needed a bit of work but fully livable), and definitely lost money. I thought breaking even was the worst that could've happened...
The point I'm making is that owning is not a panacea, and has a whole host of its own issues. I'm glad someone else gets that!