I have to admit, part of me thinks this sort of thing about houses too. The truth is that I'm largely useless when it comes to house maintenance. Having a landlord sucks in a lot of ways, but at least it means (ideally) that someone else has to take care of this. Someone with more money than I have who is required to fix it.
On the other hand, we get to decide when and how it's fixed (we once had a landlord "fix" out bathroom by screwing it up pretty bad), so there's that. Still, a lot of trouble.
I was actually reading just last night that, independent of crazy real estate bubbles like we recently had (and ideally won't have again in our lifetimes), houses as investments are actually not that sound. On average, you can only count on them for about a 3% return, which is the equivalent to a mediocre savings bond. You're actually on the whole better off with investing wisely in the stock market.
But that is the first time I've heard that. I've always been told it is much wiser fiscally to buy than it is to rent. So I don't know.
Yeah, that is a good question. I suppose you'd really have to factor that in. This is more math than I feel up to right now after raking/shoveling dirt and wood chips earlier this evening.
Wow, will you rent yourself out because I'm pretty sure we have many projects!!! On the question of home ownership, I look at it as a happiness investment. The financial returns really got into people's heads and has definitely driven the market, but to me home ownership is a psychological investment. I don't have time to define that though so hopefully you can infer what that might indicate.
There are definitely some things about it that make me happy (more control over our situation, more space) but also many things that upset me/stress me out and suck time and money that I'd rather spend on...any number of other things, really.
I'm hoping we can afford to do at least a little weatherizing once everything else is said and done so maybe it won't be so cold in the house this winter. Most of the house is 10 degrees lower than what the thermostat (located in the warmest room, of course) says and the basement is colder than ground temperature...
A home is really your biggest liability, though many people believe it to be your biggest investment (but then, many people are also bad at math). It is possible to come out ahead of renting in the long run, but only if you don't put much value on your personal time.
I still think it can be worthwhile, just not for financial reasons.
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On the other hand, we get to decide when and how it's fixed (we once had a landlord "fix" out bathroom by screwing it up pretty bad), so there's that. Still, a lot of trouble.
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But that is the first time I've heard that. I've always been told it is much wiser fiscally to buy than it is to rent. So I don't know.
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On the question of home ownership, I look at it as a happiness investment. The financial returns really got into people's heads and has definitely driven the market, but to me home ownership is a psychological investment. I don't have time to define that though so hopefully you can infer what that might indicate.
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I'm hoping we can afford to do at least a little weatherizing once everything else is said and done so maybe it won't be so cold in the house this winter. Most of the house is 10 degrees lower than what the thermostat (located in the warmest room, of course) says and the basement is colder than ground temperature...
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I still think it can be worthwhile, just not for financial reasons.
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