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Happy to be a renter

March 16th, 2008 at 05:23 pm

My husband and I are not ready for homeownership. I have been pressured over the course of the almost five years of my husband and my marriage to purchase something as my family is VERY pro homeownership. They view my having a child as a mistake to have made before owning a home.

This morning my husband and I were talking and both agreed that we are relieved to be renters, especially with a recession looming. Here's why:
1) We don't have to worry about increasing property taxes.

2) We don't have to deal with the negativity of the housing market in any way shape or form (even if it is as simple as thinking of refinancing, know what I mean?)

3) If something goes wrong, we don't have to worry about fixing it.

4) We don't have to worry about losing money on our "investment."

Not that we smell like roses with all the debt that's been racked up, but it still feels good to know that we've got something going for us. And anyway, I'd rather have my little man tate over owning a home any day Smile

Posted in Uncategorized | 5 Comments »

5 Responses to “Happy to be a renter”

  1. seven of seven Says:
    March 16th, 2008 at 05:38 pm 1205689127
    1205689127

    I am a home owner, well, the bank owns my home anyway, and I can understand your desire not to be one at this time. I have watched the value of my condo drop $30k this year. The only good thing is that I plan to stay in it for some time. I think I can ride this mess out. I wonder, though, if rents will rise as more people are forced out of their homes and into the rental market.

  2. Ima saver Says:
    March 16th, 2008 at 06:05 pm 1205690726
    1205690726

    I am happy to be a home owner. I bought my house at age 20 and had it paid off at age 32. I have lived mortgage free ever since then!

  3. disneysteve Says:
    March 16th, 2008 at 06:15 pm 1205691337
    1205691337

    Seeing your list of debts, I'd certainly agree that buying a home is the last thing you guys need right now. Owning a home is VERY costly, must more so than renting. I'd keep working at repaying the high interest debt. Then focus on saving a big downpayment. Only then would considering home ownership be a good idea. Just ignore all the folks pushing for you to buy. If they want to pay for it, great. Otherwise, you need to do what is best for you.

  4. PauletteGoddard Says:
    March 16th, 2008 at 07:17 pm 1205695040
    1205695040

    It's especially nice to rent when it's cheaper than owning. It's wise of you to fight off urges of rushing into homeownership. I didn't live in a house my parent(s) owned until I was 16.

  5. aevans1206 Says:
    March 16th, 2008 at 07:56 pm 1205697391
    1205697391

    Ima, I certainly should have followed in your footsteps as I had been given a large sum of money after graduating from college that could've been used as a downpayment. However, perhaps it better I hadn't because of my immaturity and lack of knowledge of money management--maybe would've resulted in a foreclosure! We will buy when we're ready, that much I know is true Smile

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