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The real cost of owning a home

ericturner.dev

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Re: The real cost of owning a home

#781
post #764
post #422

Earlier quoted context omitted.

Moving every 2-5 years sounds like one of the rings of Hell from Dante.

Staying in the same place for decades seems like hell to me too.

It is my experience that people who see things that way and people who see things the opposite way truly inhabit incommensurable realities.

Re: The real cost of owning a home

#782
post #470

Earlier quoted context omitted.

>But the biggest thing is that I'm the only one in charge of maintenance. There's no one person I can call for every single problem. Keeping track of regular maintenance, performing that maintenance, and learning how to DIY things takes a lot of time. And even if I want to pay someone to do it for me, I still have to research contractors, coordinate estimates, and schedule the project. And I still need to learn enoug…

My landlord has one. That is a B2B relationship, not a B2C one. The old handyman probably might not need new customers and even if they do, they probably don’t want random homeowners because the inexperienced tend to have unrealistic expectations and only own one property,

To provide a counterexample, my parents always had a handyman growing up. I think they still do. Not the same guy through all the years, but they've always managed to find one.

Re: The real cost of owning a home

#784
The thing with home is that it's leveraged investment for normal people. You can pay 10% of value and resell later. Buying home for cash is less optimal but for credit it makes sense usually due to leverage and little downside risk. Plus usually every now and then you get money printing and you 2x your leveraged money or more rarely get hyperinflation and home for free. This was mostly issue of too low interest rates but that's how I see it from the past 10 years (non US resident)

Re: The real cost of owning a home

#785

Earlier quoted context omitted.

Why is that good? That is horrible for economic development and employment. It is worse for a country than being nuked.

Contrary to popular belief, people spending all their money buying pointless shit is not good for the economy.

If all the money of a country is not locked up in real estate of the olds, then that money could be invested in small and large businesses, in infrastructure, in young workers being able to create a family, and even useful products and useful services.

But it seems that the entire world has decided that everything except real estate - even the continuation of the species through children - is just "pointless shit". Better to have a very expensive tomb to haunt.

It seems like we're just a few years away from when the elderly start demanding to be buried in their houses and have them sealed off for all future.

Re: The real cost of owning a home

#786

Earlier quoted context omitted.

Maybe 1% of renters do that. The rest can't afford a house. Changing cities? Sell or rent out your house. Not harder than moving apartments.

Not harder than moving apartments?!?!

Even easier than moving apartments if you just sell your house "as is". Depending on your rental contract you might have to do paint it etc before returning it.

Re: The real cost of owning a home

#787
post #779

Earlier quoted context omitted.

Why is that good? That is horrible for economic development and employment. It is worse for a country than being nuked.

But it is good for the individual. You do have a point that in the long run, the health and growth of the overall economy impacts the quality of life of individuals, but the interests of individuals must be balanced against the interests of a country as as a whole. Consider that people immediately spending all their salary at the beginning of every month and being broke and hungry for the rest of the month is good fo…

But that is an argument for banning everything and forcing people into a Matrix style pod at birth, since some people otherwise will be irresponsible.

And if you're talking about people who go broke and hungry waiting for the next pay check, in most cases it is because they have to spend so much on their rent or mortgage. Being "house-poor", as they call it.

Re: The real cost of owning a home

#788

Earlier quoted context omitted.

Why not get rid of most of the grass (especially on the hill) and put in a perennial garden of hardy (for your zone) shrubs and trees?

> Why not get rid of... Soil erosion.

There are other ground covers and plant options that don’t require weekly mowing. Creeping junipers and native bunch grasses come to mind.

Re: The real cost of owning a home

#789

Earlier quoted context omitted.

Do you want to buy a house? Do you need to buy a house? If the answer is no to both, then don't buy a house.

I want to buy a house, but I do not want to end up crazy underwater on a house. If I thought values would be at-least-stable I probably would buy. Everything just seems so bubbly that it feels like a trap.

The general consensus is that there is never a best time to own a home (for example, rates are much better today than in the 80s). If you want it, figure out how to pay for it, and buy it. Keep enough savings to weather a year of unemployment. You might be unemployed for longer, in which case you'll just figure out other options, like forbearance/hardship program/loan modification, state unemployment, temporary work, renting out rooms, food and utility assistance, etc. Worst case you can sell the home.

Re: The real cost of owning a home

#790

Earlier quoted context omitted.

Insurance and property taxes will never decide to occupy the house and force you to move from your home despite being willing and able to pay.

they can and do, if you're past eviction notice.

Maybe read the whole sentence?
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