Comments on: Are We Meant To Be Homeowners? http://baglady.dreamhosters.com/2008/05/29/are-we-meant-to-be-homeowners/ Attempts at a Sustainable Lifestyle... Sat, 21 Nov 2009 16:47:07 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: StaciCarsten http://baglady.dreamhosters.com/2008/05/29/are-we-meant-to-be-homeowners/comment-page-1/#comment-1946 StaciCarsten Fri, 06 Jun 2008 20:04:28 +0000 http://baglady.dreamhosters.com/2008/05/29/are-we-meant-to-be-homeowners/#comment-1946 I think the key statement in your post is that you feel more comfortable with a giant stock portfolio than real estate (or something like that!). Because I work in real estate finance and my husband is a building contractor, we understand how to make money in real estate -- on the other hand, looking at the stock portfolio just raises my blood pressure. I'm a "buy something, hold on to it for 30 years and hope for the best" kind of stock investor. No one way is "best" for everyone. It's important to save and invest -- and it's most important to understand what you're doing (and be comfortable with your decisions) when making investments. I think the key statement in your post is that you feel more comfortable with a giant stock portfolio than real estate (or something like that!).

Because I work in real estate finance and my husband is a building contractor, we understand how to make money in real estate — on the other hand, looking at the stock portfolio just raises my blood pressure. I’m a “buy something, hold on to it for 30 years and hope for the best” kind of stock investor.

No one way is “best” for everyone. It’s important to save and invest — and it’s most important to understand what you’re doing (and be comfortable with your decisions) when making investments.

]]> By: RPM Millionaire http://baglady.dreamhosters.com/2008/05/29/are-we-meant-to-be-homeowners/comment-page-1/#comment-1924 RPM Millionaire Mon, 02 Jun 2008 16:36:12 +0000 http://baglady.dreamhosters.com/2008/05/29/are-we-meant-to-be-homeowners/#comment-1924 Yes there are pros and cons of renting vs owning. I think your parents are just looking down the road knowing that 10 - 20 years down the road you'd be better off. Maybe they are not aware that prices in your area haven't dropped enough to make it a good buy like their friends are getting. The bottom line is you don't have to buy a house to live in... you can buy a studio, 1 bedroom, etc in a decent area near by where prices have bottomed out and hire a management company to manage it for you just as long as the rent you get covers all your associated expenses and put positive cash flow in your pocket... so think "Investment" rather than "Home". Remember also that with home ownership you get lots of tax breaks no other investment can give. RPM Millionaire --- Yes there are pros and cons of renting vs owning. I think your parents are just looking down the road knowing that 10 – 20 years down the road you’d be better off.

Maybe they are not aware that prices in your area haven’t dropped enough to make it a good buy like their friends are getting.

The bottom line is you don’t have to buy a house to live in… you can buy a studio, 1 bedroom, etc in a decent area near by where prices have bottomed out and hire a management company to manage it for you just as long as the rent you get covers all your associated expenses and put positive cash flow in your pocket… so think “Investment” rather than “Home”.

Remember also that with home ownership you get lots of tax breaks no other investment can give.

RPM Millionaire
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]]> By: Carnival of Personal Finance #155 — Time With Family | Moolanomy http://baglady.dreamhosters.com/2008/05/29/are-we-meant-to-be-homeowners/comment-page-1/#comment-1923 Carnival of Personal Finance #155 — Time With Family | Moolanomy Mon, 02 Jun 2008 12:07:48 +0000 http://baglady.dreamhosters.com/2008/05/29/are-we-meant-to-be-homeowners/#comment-1923 [...] Are We Meant to be Homeowners? at The Baglady. [...] [...] Are We Meant to be Homeowners? at The Baglady. [...]

]]> By: chada http://baglady.dreamhosters.com/2008/05/29/are-we-meant-to-be-homeowners/comment-page-1/#comment-1912 chada Sat, 31 May 2008 02:45:47 +0000 http://baglady.dreamhosters.com/2008/05/29/are-we-meant-to-be-homeowners/#comment-1912 It seems that it is not just young couples here in China mainland are considering whether to be homeowners or not. Yes, it is not an easy thing one can deside within one minute. Rent or own? Do what you think is right. It seems that it is not just young couples here in China mainland are considering whether to be homeowners or not. Yes, it is not an easy thing one can deside within one minute. Rent or own? Do what you think is right.

]]> By: Philip Brewer http://baglady.dreamhosters.com/2008/05/29/are-we-meant-to-be-homeowners/comment-page-1/#comment-1911 Philip Brewer Sat, 31 May 2008 00:34:57 +0000 http://baglady.dreamhosters.com/2008/05/29/are-we-meant-to-be-homeowners/#comment-1911 I ran the numbers a while back, and discovered that you could give me a house for free, and I still couldn't live in it as cheaply as I can live in my current apartment. I doubt if that's true for most people, but my apartment is both cheap and includes a lot of stuff that I'd otherwise have to pay for. (Heat, water, sewer, garbage, and basic cable are all included in the rent. After those things, plus maintenance and insurance, a house is more expensive than what I'm paying, even before you take the mortgage into account.) I ran the numbers a while back, and discovered that you could give me a house for free, and I still couldn’t live in it as cheaply as I can live in my current apartment.

I doubt if that’s true for most people, but my apartment is both cheap and includes a lot of stuff that I’d otherwise have to pay for. (Heat, water, sewer, garbage, and basic cable are all included in the rent. After those things, plus maintenance and insurance, a house is more expensive than what I’m paying, even before you take the mortgage into account.)

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