The purpose being? My primary residence is owned free and clear.* *excluding annual taxes The second one, which is used for a 'work flop house' so I don't have to make a 50 mile one way commute every day to work, is almost paid for, and will likely become a rental when I am done with work.
My wife and I always owned our home from day one when we married in 1958 until we moved into a retirement home a couple years back. I never knew of the stress I lived under owning a home until we sold our last house and started paying rent where we live now. What a relief not owning a house is, no worries about anything. The old saying about getting the weight off your back is true.
Not enough poll choices. We currently rent because we do not want to live where our land is until we retire. I currently rent also because I wanted a house the size we are in for less than 5 years, which is not enough time to recoup investment in owning unless you get lucky with the market. And finally I currently rent because we wanted a fixed expense and not have to worry about added expenses. Since we lived here the owner has had to replace the roof and have the front yard dug up and a leaking water line repaired along with other smaller expenses. When we leave he will have to replace most of the back deck due to it rotting away after 18 years.
I currently own a farm in NC, and a second home in SW Florida, and split my time between the two. The only mortgage I have carried in the the last 20 years is for a rental property that is adjacent to my farm, which I have recently sold. I am in the process of putting my FL home on the market for sale. The real estate market is huge right now, and it would be insane not to sell secondary properties and wait for the Biden crash to buy back in.
It's paid but really...it's never actually paid because you still have land taxes/rates they keep pushing up and up and up
Completely true. If you don't think you can be evicted from a property you think you own, stop paying rent (tax) on it and see how long it takes before men with guns come knocking.
Currently paying mortgage on my city residence. Own my primary residence and also own my holiday home on the coast. White privilege.
Retired and own my home. Every time I see those commercials trying to get veterans to refinance their homes and WE WILL GIVE YOU 100% OF YOUR EQUITY I want to shoot them. The security of being in your own paid for home should be top of the list as a life's goal IMO.
Pay mortgage on a home we purchased from an auction. We really should just pay it off....loan was about the same as what you would get for a car. Home ownership has its pros. Our buys have been good investments. And it has its faults, mainly repairs, more repairs, and general upkeep...entirely handled by my handyman husband. If I was single, I would most definitely rent.
let's not forget the never-ending honey-do's Hmm, bathrooms are 10 years old, time to remodel. Now the rest of the house needs to be updated to match Sorry to be sexist, but I could care less if the house still had linoleum, formica counters and a green toilet. As long as the mechanics work, I'm good But then again, what's wrong with a plaid shirt and striped pants worn together?
ahh, the "joys" of home ownership that i too have experienced. But, I wouldn't change it since you get back some or most of your money when you sell when you factor in everything that you spend keeping a home including tools.
I'm pretty easy on my husband. I'm talking about an add on to make our tiny bathroom roomier but he's not for that. I will have to nag softly a bit more I guess. He did just order a new toilet seat from Amazon so I got him to do something.
My house has a mortgage on it I have been dumping a lot of extra cash into that I have almost paid off. Down to $16,050.00 as of yesterday. I have other land I own free and clear. Mostly undeveloped acreage. Some of it purchased and some of it inherited.
Almost none of us own the land we occupy, because if we do not pay rent to the bullycrats, they take our house etc. and sell it.
I own my own home free and clear. It's appreciated nicely since I bought it in 2012. In my early years, I moved around from job to job and apartment to apartment, and never really got ahead of the game. Things are more stable now, although there's still a ton of property taxes and home repair costs to deal with.
Agree greatly! "If it ain't broke, don't fix it!" And, don't throw money away on fads and fashions! Money is POWER... don't throw it away frivolously.... Those who criticize others for being 'out-of-fashion' in many of their ways are usually the same ones who don't have 'a pot or a window', and often have a handful of credit cards charged up to the max, while coasting along on 'subsidies' and other welfare handouts....
LOL. Somebody literally just got uppity with me because I don't have an ice maker in the freezer and keep no ice trays in the house. I told them I don't need them so I don't have them. I have the connectors for the ice/water but just buy utilitarian fridges without all the frilly stuff because I am a cheapskate.
