To those that have bought a house..Are you happy?

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SteveB3005
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Re: To those that have bought a house..Are you happy?

Post by SteveB3005 »

Very happy, I like being skipper. Combine that with a need to fix and tinker, I'm a natural born homeowner.
goodyear35
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Re: To those that have bought a house..Are you happy?

Post by goodyear35 »

I love my house. Is there more responsibility and costs? Yep. But do I get enjoyment from it? BIG YEP. Its a lifestyle worth paying for me.
DrivingFun
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Re: To those that have bought a house..Are you happy?

Post by DrivingFun »

I have never felt at home when I rented. Coming home to something you own, it's just a different feeling for me.
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Epsilon Delta
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Re: To those that have bought a house..Are you happy?

Post by Epsilon Delta »

No, too big, too expensive, too much work. But my wife has a nesting instinct so what can I do?
Curlyq
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Post by Curlyq »

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montanagirl
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Re: To those that have bought a house..Are you happy?

Post by montanagirl »

I liked owning the little house I had before we bought the bigger one we're in now. It was paid off, quite small but with garage, cellar, and fenced yard, and no stairs. I had gotten it at the bottom of the last housing crash in 1990 and it was definitely cheaper than renting.

My current place is paid off too, but it's too big and if my husband wasn't so handy I would never be able to deal with it. I already look forward to getting rid of it, and I doubt I'll ever have it as good as I did with the first house.
rixer
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Re: To those that have bought a house..Are you happy?

Post by rixer »

The thing about buying a home instead of renting is you can eventually own the home free and clear. Rent, on the other hand keeps going up and in the end, it's tough to retire when you have escalating rent prices.
I paid my house off several years ago and am loving it.
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midareff
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Re: To those that have bought a house..Are you happy?

Post by midareff »

My home is a condo which I bought from the redeveloper (condo conversion) almost nine years ago. I got to pick everything .. from wall texture and color to fooring, cabinets, hardware, etc. I recently refinanced for 20 years reducing the monthly payment somewhat and the remainiing term slightly. I know how much my payment will be for the remaining term, no inflationary increases. Monthly maintennce I expect to go up with the CPI. The association supplies air-conditioning, which is quite important in South Florida and hot water. The building has a heated pool, gas BBQ grills, dock space, full gym, social areas, pool table, on site manager and maintenance people, 24 hour concierge and security gates + an internal camera system for additional security and most everything you could ask for but may not be able to get in a house. The neighborhood is safe, secure, has its own small police force, and is very appealing with shopping, grocery, houses or worship, etc., within walking distance. I am happy :beer
fanmail
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Re: To those that have bought a house..Are you happy?

Post by fanmail »

Home ownership is an investment. Renting is a sunk cost. I prefer all of the other advantages that go along with owning your own home on your own terms.
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Sunny Sarkar
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Re: To those that have bought a house..Are you happy?

Post by Sunny Sarkar »

Rent the place (and pay the landlord) or rent the money (and pay the bank)?

Reasons why I love owning:
  • 1. Housing costs is the biggest item on our budgets, and I really really wish I did not have a monthly payment (or rent). Now, I can't avoid it for myself, but maybe one day my daughter will not have a house payment because Daddy paid one off.

    2. I have 10 years left on my mortgage. The first day after that I will not have a housing payment. Yeah!
    (All those future housing payments saved is, in my mind, the actual financial benefit from the primary home - not the "your home price appreciation will make you rich" garbage).

    3. For the next 10 years, my mortgage payments will not go up like my rent would. In a few years, rents will be the same as my mortgage payment, and in a few more years, double.

    4. I'd never get myself to rent the size of housing that I own - irrational, I know. In that sense, owning is a lifestyle choice, for which I choose to pay more (or do I? see next point). Apartment rents in a good school district in our metroplex is already 75% of my mortgage payments. My house is 3 times the size of such an apartment, plus the backyard, the pool, the front yard, the garden, the good looks, etc. Even after factoring in other costs of owning, there is simply no contest per unit of real estate enjoyed.

    5. If I subtract the principal paid off from my mortgage payment, my housing cost is actually *lower* than the rents of average apartments in our area.

    6. My daughter can paint the wall in her room the way she wants it (the only approval needed is Mom's).

    7. We love our house. It looks good to us, feels good to us, and we get to call it our's. It gives us a sense of "settled down" that really matters to us. We never ever loved any apartment this way - even though some of them were really quite nice.

    8. Once the house is paid off, I have the option of downgrading my house (by location or by size) and pocketing the equity diff.
All the best,
Sunny
"Buy-and-hold, long-term, all-market-index strategies, implemented at rock-bottom cost, are the surest of all routes to the accumulation of wealth" - John C. Bogle
MathWizard
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Re: To those that have bought a house..Are you happy?

Post by MathWizard »

Yes, happy with buying. Biggest reason was for the kids.

We paid a reasonable price for a fixer-upper next to the school in a good neighborhood, and did most of
the fixing up ourselves, we'll pay it off before 2020.

Best thing we could do financially for the kids was to get them a good education. One is in college now, and the
other is already taking college classes as a senior in HS, and headed to college full-time next year. Very proud of them both.
jginseattle
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Re: To those that have bought a house..Are you happy?

Post by jginseattle »

Oh, yes. One benefit is that you somewhat mitigate the risk of inflation in the form of rental increases.
cheapskate
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Re: To those that have bought a house..Are you happy?

Post by cheapskate »

tsfdma wrote:I base as many decsions as possible in life on happiness. I am happy renting in a luxury apartment. It has everything I need, allows me to save 75 percent of my salary for investing, saves me time because I dont have to worry about maintenance, things breaking , etc. My question is for those of you that were happy as renters, that went to home ownership how are you enjoying it. I dont particularly like the idea of "projects", or get no satisfaction out of fixing home related things. Thanks for you input!
There is no reason you should consider owning a home, given your current situation.

I rented for 22 years, was very happy, for much the same reasons you cite. Then bought a home. Home ownership (for me) is a massive money and time sink. I am not handy, nor am I interested in all the trappings that come with a house. There certainly is not a slam dunk case for residential real estate as an asset class.

Once my kids are out of high school and are on their own, I will seriously consider going back to renting. Certainly don't want to spend my retirement fixing things around the house, vacuuming, mowing the lawn etc.
Honobob
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Re: To those that have bought a house..Are you happy?

Post by Honobob »

cheapskate wrote:
There is no reason you should consider owning a home, given your current situation.

I rented for 22 years, was very happy, for much the same reasons you cite. Then bought a home. Home ownership (for me) is a massive money and time sink. I am not .
Where did you rent? What was your initial rent? What was it 22 years later? what did an equivalent property sell for when you first rented? What did it sell for 22 years later?
It's slowly dawned on me that we won the real estate lottery!
reisner
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Re: To those that have bought a house..Are you happy?

Post by reisner »

If you buy, you are at the mercy of the house. If you rent, you are at the mercy of everything else. As for expense, I hit the house jackpot big, once; and made a fair bit on two other houses (not bad for a classics prof.); such times are not likely to come again. At the moment I feel smothered by my fourth house--too big, too complicated, and not where I want to be. Others seem always happy. My cousins have lost money on each of three houses, and they are supposed to be the financial wizards of the family.

I proffer this advice: location, location, location; and buy the smallest house of the best quality on the biggest mostly wooded lot you can find, thereby keeping maintenance low and privacy high.
lawman3966
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Re: To those that have bought a house..Are you happy?

Post by lawman3966 »

rixer wrote:The thing about buying a home instead of renting is you can eventually own the home free and clear. Rent, on the other hand keeps going up and in the end, it's tough to retire when you have escalating rent prices.
I paid my house off several years ago and am loving it.
I'm glad the above worked for you. But, there is not a one-size-fits-all answer. I'm writing mostly to take issue with the idea that one is "free and clear" of housing costs once the mortgage is paid off. That is not true in all cases.

I currently rent a room in a home in NJ. The home is in a nice neighborhood and is worth about $500K. Once the mortage is paid off, the cost of ownership here would still be about $18-20K a year, which arises from property taxes, utilities, insurance, and maintenance/repairs. This is far from "free and clear." Moreover, property taxes have a nasty habit of rising each year. Since any property taxes are imposed over a wide area, the owners have no place to run to, to avoid them. As a renter, I see the bills come in for the landlady, and am relieved to not be responsible for them. A recurring theme in this area is that people tend to leave the state upon retiring, even if they have extensive family ties and circles of friends in the area.

An issue more particular to my situation is transaction costs. I have had to move several times in the last few years for work. Upon moving, the only money I lose is the cost of the movers and sometimes one extra month's rent. Owning condos over the years would have been ruinously expensive in comparison to the approach I have taken.

I'm confident that the other Bogleheads here have made effective choices based on their respective situations and preferences. In my case, renting has clearly been the right choice.
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zaboomafoozarg
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Re: To those that have bought a house..Are you happy?

Post by zaboomafoozarg »

lawman3966 wrote:
rixer wrote:Once the mortage is paid off, the cost of ownership here would still be about $18-20K a year, which arises from property taxes, utilities, insurance, and maintenance/repairs.
Holy crap NJ is expensive.
poppa23
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Re: To those that have bought a house..Are you happy?

Post by poppa23 »

Why would you ever want to be at the mercy of a landlord....move please, pay me more rent please, dont paint the wall blue please...
rixer
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Re: To those that have bought a house..Are you happy?

Post by rixer »

lawman3966 wrote:
rixer wrote:The thing about buying a home instead of renting is you can eventually own the home free and clear. Rent, on the other hand keeps going up and in the end, it's tough to retire when you have escalating rent prices.
I paid my house off several years ago and am loving it.
I'm glad the above worked for you. But, there is not a one-size-fits-all answer. I'm writing mostly to take issue with the idea that one is "free and clear" of housing costs once the mortgage is paid off. That is not true in all cases.

I currently rent a room in a home in NJ. The home is in a nice neighborhood and is worth about $500K. Once the mortage is paid off, the cost of ownership here would still be about $18-20K a year, which arises from property taxes, utilities, insurance, and maintenance/repairs. This is far from "free and clear." Moreover, property taxes have a nasty habit of rising each year. Since any property taxes are imposed over a wide area, the owners have no place to run to, to avoid them. As a renter, I see the bills come in for the landlady, and am relieved to not be responsible for them. A recurring theme in this area is that people tend to leave the state upon retiring, even if they have extensive family ties and circles of friends in the area.

An issue more particular to my situation is transaction costs. I have had to move several times in the last few years for work. Upon moving, the only money I lose is the cost of the movers and sometimes one extra month's rent. Owning condos over the years would have been ruinously expensive in comparison to the approach I have taken.

I'm confident that the other Bogleheads here have made effective choices based on their respective situations and preferences. In my case, renting has clearly been the right choice.
You're right that you still have to buy home owner's ins and pay property taxes when you own your home outright. However, when renting, those same costs are figured into your rent. It's not like you're avoiding that by renting. And still rents will escalate.
At any rate, my cost of ownership comes nowhere near $18-20K per year. Not even close really but I'm glad renting is working out for you. Home ownership isn't for everybody but unless you have a huge portfolio, it's difficult to retire with a mortgage or rent. For me, a paid off home is my safety net.
billyt
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Re: To those that have bought a house..Are you happy?

Post by billyt »

There is no such thing as living 'rent free', and it is not a no-brainer that buying is a wise decision. The argument that professional landlords are in business to make a profit is an empty one, and has no bearing on the discussion. Opportunity costs cannot be neglected in the cost analysis. Consider the following hypothetical example. You are renting for $1500/m ($18,000 annual). You would need a $450,000 portfolio to support this expense assuming a modest 4% withdrawal. You are tired of paying rent and buy a $225,000 house. You are now a proud owner and living 'rent free'. However, your $450,000 portfolio is now only $225,000, generating $9,000 annual cash flow. Taxes, insurance, and maintenance on your new home are 4%, exactly $9,000. You are no better off financially, even without a mortgage payment. Financing a house costs more that purchasing it outright, so taking a mortgage only makes things worse.

Billyt
rixer
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Re: To those that have bought a house..Are you happy?

Post by rixer »

billyt wrote:There is no such thing as living 'rent free', and it is not a no-brainer that buying is a wise decision. The argument that professional landlords are in business to make a profit is an empty one, and has no bearing on the discussion. Opportunity costs cannot be neglected in the cost analysis. Consider the following hypothetical example. You are renting for $1500/m ($18,000 annual). You would need a $450,000 portfolio to support this expense assuming a modest 4% withdrawal. You are tired of paying rent and buy a $225,000 house. You are now a proud owner and living 'rent free'. However, your $450,000 portfolio is now only $225,000, generating $9,000 annual cash flow. Taxes, insurance, and maintenance on your new home are 4%, exactly $9,000. You are no better off financially, even without a mortgage payment. Financing a house costs more that purchasing it outright, so taking a mortgage only makes things worse.

Billyt
You are assuming the person takes the $225,000 out of his retirement fund to pay the house in full. If that person has instead, paid off the house through the years without reducing or drawing into his retirement fund, it's a different ballgame.
billyt
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Re: To those that have bought a house..Are you happy?

Post by billyt »

You are right. If you finance the house it will likely cost you more than paying cash. But the main point is this fallacy of living 'rent free'. Of course it will look like a good deal if you ignore a very substantial cost.

Billyt
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Re: To those that have bought a house..Are you happy?

Post by Zagor »

poppa23 wrote:Why would you ever want to be at the mercy of a landlord....move please, pay me more rent please, dont paint the wall blue please...
Why would you ever be at the mercy of a HOA. Your grass is too high, your fence needs replacing, your house needs painting, need permission to add anything to the outside. HOAs can be worse than landlords. The house on my right side is a rental so every 6-months to a year new tenants and they always have fricking dogs, loud constantly barking dogs. I have owned my house for 12 years and it is paid off but If I had to do it again, no way. Did I mention that I hate fixing things and hate hiring contractors even more?

Home ownership is not for everyone.
cheapskate
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Re: To those that have bought a house..Are you happy?

Post by cheapskate »

Zagor wrote:I have owned my house for 12 years and it is paid off but If I had to do it again, no way. Did I mention that I hate fixing things and hate hiring contractors even more?

Home ownership is not for everyone.
+1 on the contractor thing. I am homeowner and I am in the middle of a remodel from hell right now. Life is too short to deal with contractors. I hired this contractor after a lot of reference checking, looking closely at recent projects he completed and so on. In spite of all that, my life right now is total stress.

Home ownership is a good idea for people who love to work on their homes, know a thing or two about construction and remodeling.
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tc101
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Re: To those that have bought a house..Are you happy?

Post by tc101 »

I am happier owning a house. I can do exactly what I want with it. No one can make me move or raise the rent or tell me what color to paint it or what wall I can knock out or room I can add. It is mine to do with as I please.

Neighborhoods full of renters are different than neighborhoods full of owners. People stay longer and get to know each other.

You don't have the same choices when renting. You can be much more selective when buying.

I have only owned two houses in my life. In both cases they were a good deal financially and once they were paid off gave me a great feeling of security.

Several people have mentioned that they hated fixing things and hated working with contractors. It is important to find one good handy man who you trust and enjoy working with. Find the right guy, then pay him well and make him feel appreciated. I like they guy who works on the house and I help him when he is here and I always learn something and have fun. I don't mind paying him. If I were renting I know that money for upkeep would come out of my rent.

In spite of all that, I always felt very nervous just before buying a house, and felt some remorse in the months after buying. I always felt really happy about the purchase a year later. This seems to be the pattern for most people.
Last edited by tc101 on Tue Oct 09, 2012 10:48 am, edited 1 time in total.
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cheapskate
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Re: To those that have bought a house..Are you happy?

Post by cheapskate »

The always excellent Jonathan Clements (former WSJ finance writer) wrote repeatedly and persuasively about why home ownership is not an investment. A couple of choice articles by Clements that were presciently written *before* the housing bubble burst, educating readers :

http://news.google.com/newspapers?nid=2 ... 43,3133629

(If that does not load, Google "Jonathan Clements A Home Can Be a House of Mirrors")

http://online.wsj.com/article/SB1156293 ... =googlewsj
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VictoriaF
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Re: To those that have bought a house..Are you happy?

Post by VictoriaF »

I am grateful for this thread. I need periodic affirmations that I am making the right choice by renting.

Victoria
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bungalow10
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Re: To those that have bought a house..Are you happy?

Post by bungalow10 »

Very.

We have a large yard with a garden, fruit trees, large deck to sit outside, chickens in the back. We can have pets if/when we want them.

As our needs have changed through the years (bought the house when single, then married, then my adult brother lived with us, then one kid, then two, then brother moved out, now third child on the way), we've been able to modify the house to suit our needs.

Closing today on a 2.375% 15-year fixed, zero points refi - doesn't get much better than that. Our house will be paid for before our oldest starts college.

I can't imagine what rent would cost for a similar house? The projects aren't fun, but they are better than moving with every life change or leaving it up to a landlord. I like painting the walls and having control over when an appliance or water heater gets replaced. Most houses for rent have the renter do the yard work and snow removal, so that would be required anyway - and we can always hire it out at our house if we want to.

For those that don't like projects - do you really plan to live in the same place for 10 years or more with no modifications? Or do you move every few years? For us, I'd rather stay in a place, and if that means someone comes to do some work on the place and we have to live around them for a few days or a few weeks for a large project, so be it.

And really, how many projects are actually required versus something the homeowner takes on him/herself? Replacing a roof, siding, windows are sometimes required, but those are easy to contract out and live through. Most other things are minor repairs or things the homeowner wants.
Last edited by bungalow10 on Tue Oct 09, 2012 11:12 am, edited 1 time in total.
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Re: To those that have bought a house..Are you happy?

Post by bungalow10 »

cheapskate wrote:
Zagor wrote:I have owned my house for 12 years and it is paid off but If I had to do it again, no way. Did I mention that I hate fixing things and hate hiring contractors even more?

Home ownership is not for everyone.
+1 on the contractor thing. I am homeowner and I am in the middle of a remodel from hell right now. Life is too short to deal with contractors. I hired this contractor after a lot of reference checking, looking closely at recent projects he completed and so on. In spite of all that, my life right now is total stress.

Home ownership is a good idea for people who love to work on their homes, know a thing or two about construction and remodeling.
But if you were renting, you would either have to live without the remodel or move to get it. Sure, living in the middle of a remodel is not fun, but IMO moving is even worse.
An elephant for a dime is only a good deal if you need an elephant and have a dime.
bungalow10
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Re: To those that have bought a house..Are you happy?

Post by bungalow10 »

Zagor wrote:
poppa23 wrote:Why would you ever want to be at the mercy of a landlord....move please, pay me more rent please, dont paint the wall blue please...
Why would you ever be at the mercy of a HOA. Your grass is too high, your fence needs replacing, your house needs painting, need permission to add anything to the outside. HOAs can be worse than landlords. The house on my right side is a rental so every 6-months to a year new tenants and they always have fricking dogs, loud constantly barking dogs. I have owned my house for 12 years and it is paid off but If I had to do it again, no way. Did I mention that I hate fixing things and hate hiring contractors even more?

Home ownership is not for everyone.
I think you mean "HOAs are not for everyone". I own a home and have no HOA and would never consider living in a community that did.
An elephant for a dime is only a good deal if you need an elephant and have a dime.
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Re: To those that have bought a house..Are you happy?

Post by porcupine »

Victoria wrote:I am grateful for this thread. I need periodic affirmations that I am making the right choice by renting.

Victoria
I think there should be two separate threads.

- To those that are renting..Are you happy?
and
- To those that have bought a house..Are you happy?

That way, we can split up the responces to this thread, and everyone will be happy. Yeah, right! :oops:

- Porcupine
billyt
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Re: To those that have bought a house..Are you happy?

Post by billyt »

I am happy renting. I live in a beautiful home in a stunning location that I could never afford to buy. However, I do eventually want to own and could pay cash for a modest home. When I run the numbers I find that it will cost me more to buy a home that I would like (with lots of room for grounds and garden) than is in my current rent budget. Nonetheless, at some point I will buy, even though it will cost me more, because I want too.

Billyt
scone
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Re: To those that have bought a house..Are you happy?

Post by scone »

Yes and no. The house is paid for, so there's a feeling of security, and no landlord. I have always hated renting. And I also love, love, love the location. The house itself I'm not in love with, it's a fixer upper. But I'm working on it. :wink:
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Bungo
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Re: To those that have bought a house..Are you happy?

Post by Bungo »

I bought a house earlier this year after having been a lifelong renter. Some of the reasons for this decision:

* Stability - no more arbitrary rent increases when the lease expires, or landlord deciding to re-occupy his house and forcing me to move
* Rising rents and falling house prices over the past few years in my area (Silicon Valley), such that the PITI payment is slightly lower than what I was paying in rent.
* Can fix things I don't like, for example no longer have to tolerate an inefficient 1960s era furnace, bad wiring, leaky windows as I did in many rental houses/apartments.
* Plan to pay off the mortgage within 15 years, will be rent-free after that, leaving only maintenance, insurance, and property tax. The growth of the latter is limited by Prop 13. Meanwhile rents will probably keep rising.
* Lifestyle factors probably balance out: on the positive side, I can have whatever pets I want (as long as insurers don't balk); on the negative side, I have to worry about maintenance issues that no renter would care about, such as controlling termites or budgeting for a new roof in 8-10 years.

So overall I would say I am happy with the decision, but certainly not blind to the extra costs and labor associated with it. I wouldn't have wanted the hassle ten years ago, but my priorities have shifted since then.
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VictoriaF
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Re: To those that have bought a house..Are you happy?

Post by VictoriaF »

porcupine wrote:
Victoria wrote:I am grateful for this thread. I need periodic affirmations that I am making the right choice by renting.

Victoria
I think there should be two separate threads.

- To those that are renting..Are you happy?
and
- To those that have bought a house..Are you happy?

That way, we can split up the responces to this thread, and everyone will be happy. Yeah, right! :oops:

- Porcupine
I would classify happiness along Maslow's hierarchy of needs. Home owners are weighed down at the ground level, whereas the homeless soar towards the self-actualization. :sharebeer

Victoria
Inventor of the Bogleheads Secret Handshake | Winner of the 2015 Boglehead Contest. | Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
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ejvyas
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Re: To those that have bought a house..Are you happy?

Post by ejvyas »

Shouldnt this be a poll??
Fallible
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Re: To those that have bought a house..Are you happy?

Post by Fallible »

Victoria wrote:
porcupine wrote:
Victoria wrote:I am grateful for this thread. I need periodic affirmations that I am making the right choice by renting.

Victoria
I think there should be two separate threads.

- To those that are renting..Are you happy?
and
- To those that have bought a house..Are you happy?

That way, we can split up the responces to this thread, and everyone will be happy. Yeah, right! :oops:

- Porcupine
I would classify happiness along Maslow's hierarchy of needs. Home owners are weighed down at the ground level, whereas the homeless soar towards the self-actualization. :sharebeer

Victoria
I've both rented and owned and it really boils down to this: regardless of the financials, do what feels right for you.
"Yes, investing is simple. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." ~Jack Bogle
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danwhite77
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Joined: Thu Mar 08, 2012 8:21 am

Re: To those that have bought a house..Are you happy?

Post by danwhite77 »


I've both rented and owned and it really boils down to this: regardless of the financials, do what feels right for you.
Agreed. My wife and I have rented -> rented -> bought -> rented -> bought. Each move has been for different reasons most pressing at the time. I have no regrets on any of the moves. I will say that when we have bought the old mantra "buy the worst place in the best neighborhood" has worked out exceptionally well for us.
"While some mutual fund founders chose to make billions, he chose to make a difference." - Dedication to Jack Bogle in 'The Bogleheads' Guide to Investing'.
SurfCityBill
Posts: 547
Joined: Tue May 01, 2012 10:15 pm

Re: To those that have bought a house..Are you happy?

Post by SurfCityBill »

reggiesimpson wrote:I find living in a house gives me more "space". Physically in sqr footage, land, emotionally (its mine) and it has a greater sense of attatchment for our children. All of those factors have outweighed the negatives considerably.
+1. I hated having someone live above me, below me, and next to me when I rented. It was like being in a hotel. I could her them flushing their toilets, running their appliances, playing their music, and on some occasions "interacting" with each other. Granted my postage stamp California lot is small but it affords me a lot more peace and tranquility. I'm not particularly handy but I've learned I can fix a lot more things then I thought I could by owning a house and I derive a sense of satisfaction in that. I've Installed faucets, garbage disposals, light switches, a ceiling fan. I do my own yard work and pool maintenance and while I could hire someone to do it I get the dual satisfaction of saving some cash and getting a little exercise.

Concerning the emotional aspect, I do think it gives the kids a sense of belonging. I'm always a bit saddened when I drive my childrens friends home to an apartment complex and they make some kind of self degrading comment about living there.

-B
Dandy
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Re: To those that have bought a house..Are you happy?

Post by Dandy »

I enjoyed owning a house while raising children and still do in early retirement. It is becoming a bit much and would enjoy what you have currently. If you enjoy your current rental arrangement why change? There used to be "common wisdom" that you were foolish for not buying a house from an "investment" standpoint. But housing prices boom and bust and overtime seem to just keep pace with inflation. They can be very expensive to maintain especially if you have to desire or skills to bring to bear.

So, it really comes down to life style.
cazaubon
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Joined: Wed Feb 09, 2011 3:49 pm

Re: To those that have bought a house..Are you happy?

Post by cazaubon »

I own a condo and am happy with it. Being my first home purchase, it was a bit of a shock at how fast the property taxes and condo HOA fees went up and one particularly painful special assessment only 2 years in, but the location is utterly perfect and the property is well-maintained and most importantly, extremely soundproof. I have never heard a footstep, a toilet flush, a TV, or a dog bark. I can have pets, modify the interior as I wish, and bought for a very good price. So all in all, I have to say it has been positive.
CherylHall
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Joined: Fri Jul 06, 2012 8:33 pm

Re: To those that have bought a house..Are you happy?

Post by CherylHall »

Love owning my townhome. Rented for years, never had heat when needed, arguments in the building etc. I really researched and bought a place that I love and will live in for a long time forces willing. This house is like being on vacation, much less than renting now 9 years later. And its mine, nothing can replace that feeling and I never thought I would say that. Agree with the posters, a little ingenuity and learning make the maintenance not that big of a deal. my 2c.
fanmail
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Joined: Thu Sep 20, 2012 5:54 pm

Re: To those that have bought a house..Are you happy?

Post by fanmail »

To each their own, obviously, but how can renting ever be cheaper?

You have to compare apples to apples. And when you do, owning is basically always better financially. Can you guys think of some examples other than moving every 2 years where renting saves money vs owning?
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