Do you rent? Good. Keep it that way.
Yes, I am trying to get into the holiday spirit here, but it’s a little tough to do when it feels like I’ve been through a practice with the New England Patriots, having shoveled snow - and I mean, the heavy, wet, icy, nasty snow - for the past 2 days straight. (Yes, I do have a snowblower, but there was just too much snow).
Why am I ranting here? Because I have come to feel the pain of homeownership; life was just so much easier when we rented.
So, if you’re biding your time out there, hoping for the market to continue to fall and pounce on a good deal this spring, give it a second thought, and here’s why:
1. Utilities: when you rent, they’re sometimes paid for, once you buy, you’ll be staring down HUGE, unheardof sums to heat your home (especially if you live in balmy New England like we do). I have begun to just ignore the gas bills when they come.
2. Repairs: when you rent, you have a super or a landlord - something breaks, you call em; once you own, fuggedaboutit - every. little. thing. that goes wrong, you either have to do it yourself or pay someone extra to fix it. Last week I cut power to two of our bedrooms, accidentally; I emptied my wallet to an emergency electrician, and now, we’re good to go!
3. Maintenance: the 2 feet of snow that was just dumped on us counts here, too; you rent, this is likely not an issue for you, nor is grass-cutting, plant-planting, bug spraying, weed-pulling, etc. I mean, maybe you enjoy these activities, but then you’re lying. Once you own, get ready to do all of this stuff, or at least deal with it in some way.
4. Mortgage. Do I need to add anything here? Once you have one, life will never be the same.
5. The American Dream is real. This is where I reverse course and tell you the reason to go and buy that house you’ve been eyeing - because it feels amazing to OWN, to know that it’s yours (or the bank’s) and that you don’t feel like a transient while renting, like we always did. It is rewarding.
On second thought, I wish I’d just stayed in college. (food on points, anyone?)
Do you own or rent? Which do you prefer?