Own or rent

[Nebulous]

Do you own or rent your home?

If you don't own a house, do you want to do that one day?

 

[Strawberry]

Yes I own, I’ve got a mortgage on my property. I don’t miss renting at all, plus our mortgage on a three bedroom terraced house is £200 cheaper than a two bedroom flat. It’s just the saving to get a deposit that is the real killer for most…

 

[Sarah]

We own this house

 

[Cory]

If I ever have my own house, I'd rather own it. Renting can be a lifetime full of payments while owning can be paid off eventually.

 

[Tracy]

Do you own or rent your home?

If you don't own a house, do you want to do that one day?

Own... and it's been paid off for several years now. You don't KNOW the feeling of relief (and joy) when that last payment is made and you can say "mine, ALL mine".... that is, until you may get a divorce! 🤣
In about 1 year we will be totally debt free.... and at our annual salary will be REALLY nice as we can take a LOT of long trips.

 

[Cedric]

We own the place, and have around 17 years left to pay off for the shop. 😅

 

[Arantor]

Currently in the process of buying.

 

[Cedric]

Currently in the process of buying.

What are you looking for ?

 

[Arantor]

We've settled on a very lovely 2-bed apartment that comes with some garden space, we have the finance arrangements in place, just going through the paperwork with the lawyers. It is more tedious than I remember it being back in the day when I used to work in the mortgage business.

 

[Henrywrites]

Having your own house is very important in life. That is something that I am working very hard to achieve. I would want to be in control of the house that I live in and avoid paying rent most times.

 

[Reverie]

I've been renting the house I live in for the past 3-4 years. My husband moved in with me this last November - prior to that it was my bestfriend and I. I would like to buy a house soon - the market is finally in a good spot but I don't think I'm mentally up for it at all. I sold a house I inherited so I at least have some money on the side. The process is just a bit stressful.

 

[Cedric]

I've been renting the house I live in for the past 3-4 years. My husband moved in with me this last November - prior to that it was my bestfriend and I. I would like to buy a house soon - the market is finally in a good spot but I don't think I'm mentally up for it at all. I sold a house I inherited so I at least have some money on the side. The process is just a bit stressful.

Why did you sell it? Not your taste/too much work?

 

[Reverie]

Why did you sell it? Not your taste/too much work?

Bad memories, bad area to live in, too much work to get it upgraded. I've heard the people who have bought it have put $100,000 into it just to get it all upgraded and more modernized. It still had all the old appliances from the 1990's and the style was definitely different lol.

 

[Cedric]

Bad memories, bad area to live in, too much work to get it upgraded. I've heard the people who have bought it have put $100,000 into it just to get it all upgraded and more modernized. It still had all the old appliances from the 1990's and the style was definitely different lol.

$100,000 isn’t that bad, that sounds about right to be fair. Renovating houses usually costs around half the purchase price.

 

[Reverie]

$100,000 isn’t that bad, that sounds about right to be fair. Renovating houses usually costs around half the purchase price.

I just wouldn't have had that money. Especially didn't have the money to stay in that area where if I had that money to buy a new house it would be MUCH better and in a nicer area. Suburbs near Dallas in Texas are just getting worse and worse and people are moving further and further out into rural/suburb areas that then eventually turn more into city like suburbs.

 

[guyyanthony]

Renting right now.
But we are looking at building and buying land!

 

[Nebulous]

I own my house. Its pretty much the same as renting except I have to pay for repairs.

 

[Jason]

I would want to own, but even that has taxes and if you don't pay, the land can be taken away.

Anyhow, I'm years off from owning land and renting from a good renter isn't so bad, so who cares?

 

[Steve]

Me and my wife own our own home, have done for nearly 8 years now. I wouldn’t want to rent, I don’t like the idea of paying someone else’s mortgage off.

Just managed to fix my mortgage rate a few months ago too so not got to worry about rates going up now for 5 years! 😅

 

[Nebulous]

I would want to own, but even that has taxes and if you don't pay, the land can be taken away.

Indeed. If my house was completely paid off, I'd still need to come up with $500 a month to pay for my property tax and homeowners insurance. Those two things are $6000 a year currently for me ($5000 for property tax and $1000 for homeowners insurance). $6000 divided by 12 months = $500 per month. Also it seems like taxes and insurance go up every year so the amount I need to come up with each year is increasing. Plus I still have my mortgage payment on top of that. *faints*