Owning a home is better then renting, right? Maybe not...

[RUDUing2]

http://money.cnn.com/2004/12/15/real_estate/buying_selling/thursday_rentorbuy/index.htm

Considering that, on average, home prices in the United States have appreciated almost 50 percent over the past five years, home ownership might seem like a no-brainer.

Even if prices don't continue to increase at that pace – and most experts don't think they will – there are all kinds of reasons to own the roof over your head.

But, there are also plenty of reasons not to.........

[politicaholic]

1. I live in a highrise and I love not having to pony up to fix appliances.

I've owned many properties and I've found that things will fall apart at exactly the wrong time. I just call the manager and poof! it's done.

Plus I can move at any time and have no strings attached.

[idiosyncratic]

2. The median price of a home in San Diego County is almost $500,000

I don't know how anyone can own a home. :cry:

[SammyWinstonJack]

4. OTOH

The Travel Channel has a show where are people looking for vacation homes in places like Nags Head and Gulf Shores with price tags of half a mil., give or take a few thou. These people really need their tax bonus'. :grr:

[idiosyncratic]

5. And, with their income, they REALLY need that SS check.

I know, they deserve it, but do they NEED it when some elderly and disabled people can hardly keep up with rent increases?


Edit typo

[SammyWinstonJack]

6. They don't need that either.

But I'm sure they don't turn it down, or send the checks back.

[idiosyncratic]

7. They spend that $1000 on one dinner with friends at restaurant

while others are trying to stretch that money over an entire month for rent, utilities and food.

[trotsky]

3. Renting vs. owning is always a matter of one's current situation.

At this point in my life, I would never voluntarily go back to renting. I love maintaning my own property, making improvements, and most of all I like building equity and writing off the mortgage interest come tax time.

[elehhhhna]

8. 18 x 72 Sq. Ft. condo (1 bed/1 bath) for 425K + 402/mo. condo fee...

and no parking or storage.

French Quarter, New Orleans. 150 year old building.

Location location location.

[happyslug]

12. 3 Bedroon, 1 Bath for ONLY $2,000

http://www.johnstownrealestate.net/

Yes, it is Location, Location, Location (All this one is in bad Location, Location, Location)

[theboss]

9. I've seen an appreciation of at least 15 percent in just 7 months

Northern VA is simply insane. My plan is wait a few years, make a few hundred grand and move to a cheaper, quieter part of the world with a big savings account.

[readmylips]

10. I wish if we would have gone around the world....

instead of putting so much money and personal work into our house. We paid cash for our house after retirement, and made an equity loan on the house which we use for all our living activities; dinning, vacation, credit cards, medical, dental etc. And we can write it off on our taxes.

[Fleshdancer]

11. I didn't like owning a house. I'm back to renting

But that's just my personal choice.

[Wisc Badger]

13. I Gave up my house

it was built before WW1 and needed much work that I could not afford to give it.

I rent now with an excellent land lord, not going to ever buy a house again, maybe a double wide but no more house ownership for me. To much hassle:bounce: