Comments on: Why I Am Never Going to Own a Home Again

By: Beth @ www. secondhandmom.com

Beth @ www. secondhandmom.com — Sun, 15 Feb 2015 15:33:00 +0000

Interesting article. The one point you left out is that your living expenses are a fixed expense at retirement when you own your home free and clear. Happy to be debt free mortgage and all.

By: TBoned

TBoned — Wed, 11 Feb 2015 21:56:00 +0000

I will happily rent any of my homes to any of you who dont believe that buying a home is a worthwhile investment . Please continue to think this way so that i can collect your rent , pay off my mortgages , have extra money to put in the bank , while also having cash producing investments that will paid for by assholes like this guy forever . Please RENT!!!! do not buy ! total waste of money yall

By: IT_HOT

IT_HOT — Tue, 10 Feb 2015 22:05:00 +0000

Its smarter to own.. so no one can price you out of your neighborhood suddenly when it becomes “trendy and the place to be.”

By: Peeter

Peeter — Tue, 10 Feb 2015 18:42:00 +0000

Of course there are cultural differences.
For example, we would have said: “My wife and I” …..

By: IT_HOT

IT_HOT — Tue, 10 Feb 2015 18:30:00 +0000

In NYC and in the u.s.a.. owning is the american dream.. period. Wallstreet and their investors are trying to convince everybody to rent their apartments for wich they charge crazy rents for and want to raise the rent at any instant. when you own you are protected from expensive rental markets and displacement due gentrification ( A HUGE PROBLEM RIGHT NOW IN AMERICAN). Me and my wife plan to move our family into a house or a condo.. the bank says we can afford 400,000 dollar house but my aim is to get one for 150,000 to 250,000 .the mortgage on a home for 150,000 is about 850 to 950 dollars a month…very affordable vs the 1500 dollar studio and 2400 dollar 2 bedroom apartment.. sorry.. renting is for people who want convenience.. i was one of those people but i want to SAVE..

By: Peeter

Peeter — Tue, 10 Feb 2015 18:21:00 +0000

Says who?
Maybe after 20 years of renting.
There might be a few US cities, but in most of Europe buying is a hell-of-a-lot more expensive.
And, of course, you’re stuck.
You bought the place because your neighbours were old, seat and deaf.
Then they die.
The old properly Catholic widow on the left (facing the front) is rented out by AirBnB, Wimdu, Housetrip, 9flats and VRBO. Until her 8 grandkids go into University next year. They will then share the apartment (and the parties). And then get kids themselves – as you are supposed to.
The new owner on the right (facing the frontdoor) already has 3 kids, one of which drinks heavily. As an avid motorcycleclubmember (is that really one word?) he has 2 Harleys. And friends with Harleys.
His wife prefers her 5 Rottweilers.

Now, JeLL0, when you rent, you just give notice, and move out. The worst could be a couple of months rent I have to pay the owner.

But you’re the owner.
Even when you want to sell, do you think you’re going to make a profit?

By: IT_HOT

IT_HOT — Tue, 10 Feb 2015 17:18:00 +0000

shes crazy… owning a house is way cheaper than renting.. lol.

By: Ethan Hurt

Ethan Hurt — Tue, 10 Feb 2015 14:09:00 +0000

Brilliant …. I love your article… So I live in hotels full time… I know I pay a a bit more than if I rented, however a hotel room with cooking on a month to month basis is 25-50% off its rack rate… and it’s even less hassle than signing any sort of lease. I also rent a car on a month to month basis … I know, I know I probably pay for a Ford the amount I’d pay monthly for a Mercedes monthly purchase or lease, but I have a fresh head… and no forms, no approval needed, no BS dance with a landlord or salesman, no exposure of my personal data or income or banking information, no need for “insurance”… I pretty much live in peace and hassle free.

By: Ally Fiesta

Ally Fiesta — Tue, 10 Feb 2015 02:43:00 +0000

Yes to all of this! I’ve seen my parents both lose major to own a house. I have friends who have owned homes then had to file bankruptcy. Even the folks I know how own homes complain they can’t go out or travel or if they do they are cash POOR. Absolutely no savings at all. Living paycheck to paycheck so they can have their house. It’s far more scary than anything else.

By: Jankydoodle

Jankydoodle — Mon, 09 Feb 2015 21:55:00 +0000

I stumbled across this old article because I was thinking about some more traditional investments to add to my portfolio. But, even the benefits all of you are saying are benefits, don’t sound very beneficial. I mean, everyone has different situations they have to deal with, but it’s all very surprising that pretty much everyone here has such a one dimensional view on investments in general. Neither a mortgage or rent are ideal situations to be in the way most of you have gone about it. Why? Because both of these things are fixed costs, and because of that, they are detrimental to cash flow. 6 years ago I bought 10 acres of undeveloped land out in the middle of nowhere(super cheap as a foreclosure). I did have some pretty large upfront costs(though, nothing that really broke the bank) in order to have utilities placed on the land. After that, I laid myself a concrete pad with and bought a used $800 dollar mobile home. I spent another 2 grand gutting and remodeling it(of course using lots of salvaged materials and doing the work myself). After living in it for a few weeks, I decided to buy another and do the same thing. When it was completed I rented out the first one. So, after this…I laid another 28 concrete pads on my land and let people haul and drop in their own units, so I occurred no additional costs after the first two were completed. Land, development, and my initial two units were just under $60,000 in the first year. My land now creates a cash flow that falls in the range of 140-150k year-over-year. Everyone keeps talking about what their homes are now worth in relation to what they paid for them, but none of that is actually true. Your home is only worth what it will sell for when it sells. Unrealized gains are nonexistent gains. When some of you go to sell, some of you will realize that all of the time you’ve spent banking on the appreciation of your assets would have been put to much better use figuring out how to make that asset cash flow for you. Even if you come out ahead, you would have done much better(not just noticeably, but substantially) with cash flow vs. the appreciation over a 30 year period.