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~*glass_owl*~
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Member Since: Dec 2013
Location: USA
Posts: 182
10 yr Member
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Default Jan 10, 2021 at 02:15 PM
 
I never felt more poor than when I owned a home. First of all you run into the cost of a home and all the home types. Don't buy a mobile home, it will never go up in value like a condo or home and it is just like renting. You have to worry about the degradation of the mobile home and replacing it if the park upgrades. My grandma was a real estate agent and so was her friend, go to Real Estate, Homes for Sale, MLS Listings, Agents | Redfin. Some areas have permanently affordables you can qualify for, but you need a real estate agent to help you with it. Some will be snotty, but keep calling around. To know if your area has them look for them on Redfin. Think about buying a condo, homes have lawns and unless you garden you'll be out there all the time taking care of weeds and gardening. Plus there are more bills associated with homes. The downside to condos is neighbors, if you are noisy at all or have weird habits, neighbors will complain and can even get you kicked out of the place you own. You have to follow rules at condos, just like apartments. Even if you are rich and buy a home outright there are still taxes or hoa dues and other bills like electricity. There are some calculators online you can use to see the percentage of how much your rent is being raised versus how high the home values are increasing. For some owning stocks and renting something cheap is better than home ownership, while for me owning a home made me a profit. I don't know if renting would have been better because I didn't do that option. But one thing that happened to me is I ended up buying in a dangerous neighborhood simply to buy, when I could have lived with family in an excellent neighborhood. So consider all your options.

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Sobriety date 4/19/14
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