Why do some of you think it’s so important to own a house?

[bananastand11]

For me, it's having the security to retire when I feel ready, and not need to work until my dying day to keep a roof over my head paying rent.

Still a rentcel now... currently building.

But I will have paid off the mortgage by the time I'm 65.

In all likelihood though, I'll have gotten an investment property or two from the equity in say 10 years.

By the time I'm 55-60 I can retire and be comfortable.

Retirement age in Australia will be at least 75 by that time, and people who never own property will be having a very difficult time. I know my parents would be screwed if not for owning their own home.

[MikeLowrrrey]

What a retarded thread. A house is your means of escaping the wageslave life. Our biggest expense in life is rent. Rent ensures you keep working, you don't have a choice but to work. Meanwhile someone's who's paid off their house can quit on a whim and work damn near any job because they're living rent free.

[LinuxJon]

Everyone here seems to talk a lot about the finance side. Obviously that's important.

To me, it's more about being able to actually lay down roots and know you're not going to have to move in 3 years unless you want to. Also about being able to upgrade the place and make it your own.

[5x10]

I’ve owned my houses outright since 2007, with a little blip from 2018-19
A must for family stability

[MikeLowrrrey]

That’s why I’m asking. Obviously it’s not to impress sloots. So then what is it?

You do know the majority of homeowners don’t own their house outright? They can absolutely get kicked out. Not to mention property taxes even if it is paid off in full.

Ask the misc homeowners here how many of them have fully paid off their home. Very few will have, so that security you speak of can’t be it either.

Eventually they'll open the home, meanwhile rent is increasing year by year. Home ownership is security.

Which scenario would you rather be in:

1)Paid off house. Only need to come up with $900 for living expenses ($200 Property tax, $200 utilities, $500 food) ANY job can pay those expenses, especially since most places pay $15/hr


2)Having to pay $1300 in rent one year, $1500 the next year, etc. If you lose uour job you're ****ed

[AlwaysFocus]

I have no ill will against renters, I collect their money to pay the mortgage of the house they live in. Without them, I wouldnt own multiple homes.

Please, keep renting, owning is stupid and a waste of money.

[davik]

Its like religion, some people cant let go of the idea even if its not really all that.

[Paul Kreul]

Its like religion, some people cant let go of the idea even if its not really all that.

Yes, there that..the Greatest Man in History, Jesus Christ, never owned a home..but most rentcels aren't goin around giving sight to the blind and healing the cripple..they are just on full time rotmaxx

[Masterchieffer]

My house appreciated $290,000 in the last 12 months. So there’s that

[ThinRedLine]

I live in London UK and it's cheaper to buy than rent some poverty house share. srs.

[PrimarisIn]

I own a duplex, rent that out currently. My rent is 1400, and would rather buy a high rise condo.

[AncientYouth]

Home owners living Rent free in OPs head

[Evantus]

Houses are like sex

No big deal unless you’re not getting any

this!

[LexBrah]

OP on poverty mode confirmed.


Why would you want a house?

Security / having a "home" that you dont have to worry about losing when the landlord decides to kick you out
Rent doesn't go up with house prices
House prices go up which puts more money in your pocket.

And one day when you have no mortgage / low mortgage payments, you can live for free - thus breaking out of the rat race.


Never understood renting at all, unless of course you absolutely have to. But everyone I know who rents, gets REKTd every month for their entire pay cheque.

I know of people paying 4x what I pay for my house for a 1 bed flat in rent.

[MrSchons]

My mortgage will be paid off by the time i'm in my early 50's, that money can then either be saved or spent on luxuries, renting is for life.

[Kev1972]

Also for those considering their home an investment... are you planning on selling your home? Otherwise it's as good as a stock with unrealized gains just sitting there.

And if yo duo sell your home to realize any appreciation, where will you live? If your house appreciated I can assure you others will have as well. So you're either back to renting or you buy another house that's either equally as costly or you downgrade to a smaller home and have a lower standard of living in order to realize your gains.

Your house "investment" only become beneficial as an investment if you're willing to undercut your lifestyle to realize your gains. One way or another, whether it be sliding back into renting or downsizing your housing.


So I do think those of you who look at it as an investment are idiots. It's a place to live and it serves that purpose as well as for someone who rents. Obviously it affords a different style of shelter, and that style suits the needs of some better than renting, and renting style of shelter suits the needs of others better.

But to think of your house as an investment... that's the ultimate fallible logic imo.

If you own a home in a high dollar market like NY, DC, LA, etc retire and sell and move to a low dollar area in Texas, Florida, etc, it's a huge benefit to your retirement. If you move overseas even more so.

[hxa]

Making money vs. throwing money away

NPC rentcels are laughable. Own nothing, be happy. Oh, and poor lol

[BronsonStorm]

a domicile is not an "investment" it's consumption

you don't own the house until there is no payment to a lender

I bought my apartment for £120k as a new build, didn't do any upgrades or anything and sold it a few years later for £195k. Is that still consumption?

[GainzMcgee]

It's called an investment.
Not giving your money to someone else and owning nothing.
Coming home after a long day and knowing this is yours...not your landlord's.

if you live in an HOA or dont pay your property taxes see how quickly that house is actually "yours"

[BeanGainClovis]

for me it's less about owning a house and more about owning the dirt you live on

that way you don't have to spend your whole life serving the rich man, like my sharecropping ancestors did

am gonna make enough this month to pay off the whole lease ahead of time

after eliminating housing expenses, will be able to build wealth very quickly and get some pasture land with cash

then I can hand that down to my kids so they can be free, will always have a place to stay and a way to make a living

people might say, "but what about taxes?", but property taxes are really not that expensive annually and a good chunk of savings will pay them for a very very long time

[yeshli2nuts]

Not exactly true.

We're living in times where housing market has exploded up and has turned into the best investment you could make. But hindsight is always 20/20. I could sit here and say if you dumped all the money you paid for your house into Tesla 5 years ago you're an idiot for buying a house.

Obviously an isolated example. But that's my point. It's not always smarter to buy a house. Right now it looks like a great choice with how the market has shot up but historically, while still a solid investment, isn't the end all be all of investments either. There's easily an argument that could be made to generate wealth by using the money you save by renting to turn as much of a profit as the house would get you.... and I don't mean by hitting a lotto ticket like Tesla either but just general solid steady and smart investments.

Truthfully, housing is the safe way to invest. Buy a house and generally speaking you'll very likely get good returns on average. Although it's not really the investing advantage some of you believe. The fact you consider it an investment at all is a bit misguided to some extent. Again excluding the recent hot ride of the market, it's historically been a safeguard investment, not one that you use if you're really trying to drive up your wealth considerably.

If you bought a house because you view it as an investment you really are doing it wrong...

https://www.moneyunder30.com/why-you...-an-investment

There's the flaw in your logic. For an equal sized and same location home, you will not be saving money by renting. Rent will always be more expensive than a mortgage. So the rest of your post talking about investing in other better investments is moot.

Also for those considering their home an investment... are you planning on selling your home? Otherwise it's as good as a stock with unrealized gains just sitting there.

And if yo duo sell your home to realize any appreciation, where will you live? If your house appreciated I can assure you others will have as well. So you're either back to renting or you buy another house that's either equally as costly or you downgrade to a smaller home and have a lower standard of living in order to realize your gains.

Your house "investment" only become beneficial as an investment if you're willing to undercut your lifestyle to realize your gains. One way or another, whether it be sliding back into renting or downsizing your housing.


So I do think those of you who look at it as an investment are idiots. It's a place to live and it serves that purpose as well as for someone who rents. Obviously it affords a different style of shelter, and that style suits the needs of some better than renting, and renting style of shelter suits the needs of others better.

But to think of your house as an investment... that's the ultimate fallible logic imo.

If you're a single guy who never plans on having kids, then yeah I see your point, although still a little bit flawed which I'll explain below. But first, I have two kids and I see my house as an investment for them one day. When my wife and I both die, our house will go to them and they can either sell it or rent it out or live in it, whatever they want to do with this multi-million dollar piece of equity.

But even if you don't have kids, owning a house is still an investment because you are locking in paying the value of the house at the current market price and have the option of never having to pay a higher market value. Sure the market will fluctuate but in the long run it will certainly go up. So in 10, 20, 30 years from now, rents will double, triple, quadruple, but you still have the house you bought decades ago for basicaly pennies on the new market rate of property. The house investment is different than unrealized stock gains for one huge difference: the house is a usable commodity, stock holdings are not.

[AncientYouth]

property/council tax £225 per month pays for local services, trash collection, parks, street lights etc

House paid for £0 per month

To rent my house £1400 per month or more may or may not include the £225 property/council

my son will inherit a house when i go, or i will have enough to set him up for a housing cost free life one way or another......feelz good

[StackingPlates]

For some it’s better. For others renting is a better fit.

Still not sure where misc gets the idea one is superior over the other. It’s like both sides are constantly battling to prove their way is better when it’s all subjective.

It’s like arguing vanilla or chocolate ice cream. Sh*t is just wasted energy

Despite favoring home ownership, I certainly understand why some would prefer to rent - especially if someone is not convinced their place of residence is somewhere they can see themselves long-term.

Personally, I've always seen my home ownership as akin to a negative yield bond (-2.75%) that still has a chance of appreciating over the duration of its lifetime. It also just so happens that we all need a roof over our heads anyway so having a chance of value appreciation should I decide to sell/move is a nice perk. However, the mentality sometimes seen of a primary home being an investment is not accurate. If anything it is more analogous to a forced long-term savings account.

With that said, to get the true value of a home, we must keep in mind there are going to be costs of ownership that fall outside the mortgage itself (e.g. repairs, taxes, etc). In most cases the interest on a mortgage are tax deductible which should help offset the burden a bit. The single biggest benefit to me for home ownership has always been the effective monthly fixed cost. I just happened to be talking about this with some friends this week and was doing some napkin math. For someone who gets a 30 year fixed rate on a home, they will see inflation significantly lower their mortgage payment over that time. Whereas a renter will constantly see their rent go up assuming the average landlord keeps up with inflation. And over 30 years that can be between 80-100% based on historical numbers. After 30 years, the home owner will be paying essentially half as much each month as their renter friend assuming they rent for the entire duration. That is a huge difference!

[mgftp]

Rentcels will cope but home ownership is just a wise finacial decision unless you are constantly moving for your career.

[ThePD]

Where I live its much cheaper to own. In the current market ive made almost 300k equity on my home in the past 2 years.

[Legz422]

It's called an investment.
Not giving your money to someone else and owning nothing.
Coming home after a long day and knowing this is yours...not your landlord's.

This. And also, landlords charge more for renting than if you actually owned that home. They can jack up the rent on you out of nowhere, which mortgage companies can not do. They can also decide to sell and kick you out with barely any notice. The only benefit to me of renting is that I don't have to worry about fixing stuff that breaks. My landlord has to fix/replace it.

[Nonsense916]

3 pages in

Have the rentcels made a good argument yet ?

[DustinTheHuss]

Because it is the best investment in my area.

We bought it at $400K and it's now worth $2 million, not to mention the tax write-offs.

Just lol at rentcels.

[dogorman7]

3 pages in

Have the rentcels made a good argument yet ?

no they haven't

even a condo is much better than renting

would rather have a condo by the beach than a house 45 minutes inland

"hur dur maintenance etc etc etc" get a condo then if youre too sissy to up keep a house moron

this is coming from a rentcel who hopes hell own eventually

usually people in San Diego get married and split a condo but im not doing that

if you want a loyal companion you get a dog or other pet , not trap yourself financially with a woman just to buy property lmao

[forthenoodz]

brb the elites tell you to own nothing and rent (**** them)
brb nothing is yours (**** this ****, i want something to pass on to family)
brb shelter is the number 1 of Maslow hierarchy of needs
brb can't get evicted and can do whatever you want to the house without asking for permission from landlord like a cuck

the land and house is literally the only thing you can truly own and do whatever the **** you want (unless you plan to flash your penis to neighbours)

seriously. owning the house is so much more mentally calming rather than being a cuck to the landlord and be like (omg is the landlord going to raise rent next month?)

**** that ****.