Comments on: Is Apartment Living Much Simpler Than Home Ownership?

By: Elm45

Elm45 — Fri, 02 Jul 2010 20:01:24 +0000

Living in a pretty expensive area, I’ve never bought the idea that owning a home is better than renting. However, I’ve been a homeowner now for almost one year–bought a fixer upper that had already had alot done to it, but still, I’ll have put in about $20,000 in one year, and there’s still a way to go. I haven’t yet delivered my verdict on homeownership. It sure is nice having space and more privacy, but it is hella lot more expensive–not just the mortgage and the $20K improvements, but the utilities and upkeep, and taxes go up every year around here–just like a rent increase. Every time I walk into Home Depot, I drop another $100 on stuff that really doesn’t improve my quality of life, just my house! I’d have a lot more cash if I had kept renting, no doubt about it.

By: JFR

JFR — Sun, 02 May 2010 13:53:12 +0000

While it’s true that you don’t officially pay property tax when living in an appartment, it’s only a hidden fee in your monthly payment because the landlord have to charge more to you to obtain the same return on his investment.

By: Wellington Grey

Wellington Grey — Mon, 01 Feb 2010 21:16:17 +0000

This is the debate that my wife and I are having right now. The main advantage to owning a house is that you can really set it up exactly the way you want it.

While our previous landlord didn’t care about us making changes to our flat, we never did because of the impermanence. I think that renting is, over all, a much better deal if you’re not exacting about your living environment.

By: Nicki

Nicki — Mon, 01 Feb 2010 04:12:21 +0000

When mortgage payments are cheaper than rent, buying makes sense. I could rent the house I bought for five hundred dollars more a month than I am paying in mortgage payments. That’s $500/mo to save for those annoying expenses – if I wasn’t paying for daycare. !!!

But yes, renting is SIMPLER than home ownership for all the other reasons listed above.

By: Diane

Diane — Sun, 31 Jan 2010 21:05:19 +0000

We rent and absolutly hate it. we dont have our own backyard, its one we share with the rest of the small complex. So its not like we can have parties or bbqs. We can’t have dogs (which we really want). It took WEEKS for maintenance to fix the leaky bathroom sink and the bathroom outlet which didnt work at all. We cannot work on our cars in the parking lot (not even do do an oil change). The guy upstairs is always thumping around and when he runs the garbage disposale it often scares the crap out of me because it rattles our pipes too. when we do go outside everyone literally pulls back their curtain and watches us. I would love to have a garden but there is no where to do it.

By: Toby

Toby — Sun, 31 Jan 2010 10:49:16 +0000

If you rent then you are just throwing the rent money away. If you Buy then your putting this money into paying the morgage and the property.

Why not meet half way and BUY an apartment!

By: Alison

Alison — Sun, 31 Jan 2010 04:53:12 +0000

For me, renting is more simple just because it’s more flexible. Moving sure is a lot more complicated when you have to worry about being able to sell a house.

By: Phil

Phil — Sat, 30 Jan 2010 17:34:55 +0000

For stated reasons, renting is by far the simplest way to go. We’ve owned a few homes, we’ve rented houses and apartments, and we overall agree that owning is the best for us. We don’t own right now, we’re searching for the right place to be (currently OR) but when we do we’ll buy again, probably for the last time. We can do with it what we like, you can garden, you can have a shop to make things in, a garage to keep whatever vehicles you have (even if they are bicycles) and being able to do all that makes us comfortable and happy. It works for us.

By: marci357

marci357 — Sat, 30 Jan 2010 15:02:18 +0000

There will always be a difference of opinion on this – depending on where you are in your life. I’m 55 and want to feel settled in and taken care of for retirement….

@min hus – You have good reasons but for me it is just the opposite…. “For strictly financial and simplicity reasons, I think….OWNING my home….. wins, hands down.:…

There is no drain on my time as I took care of that all upfront, there is no monthly drain on my finances nor complications as it’s paid for (NO rent NO moving NO stress about the roof over my head for the next 50 years…..) Living in my own paid for home is about as stressfree as it can get

Mine is debt free and the equity is just as available, thru the HELOC, for emergencies as if the money was in the bank or in investments…probably MORE liquid as one phone call and the money is immediately in my checking account available to use… That’s LIQUID. The money in the house is NOT tied up at all

Maintenance is minimal – sweep the porch, paint every ten years or so, and enjoy the garden and yard which is all in edible landscaping…. I make money and food off that yard I mow the lawn for exercise with my little electric lawnmower, but if I don’t want to, the neighbor kid does it for $10 When I bought the place and altered it, I redid everything so I wouldn’t have any problems for the next 40 years… new wiring and plumbing, appliances, fixtures, and windows and roof. There is virtually NOTHING to have to do to this house in my old age except bring in the firewood

I’m set for life here – in my cozy built just for me home. Love it! Peace of mind, liquid investment, stressfree Very simple

Guess it just all depends on how you look at it

By: min hus

min hus — Sat, 30 Jan 2010 14:41:09 +0000

I agree, the myth that renting is throwing your money away and buying is the path to riches is a load of bull. Owning a home is ANYTHING but simple. It’s a HUGE money and time sink. It complicates finances, is a drain on your time, causes stress, etc. I’m not sure that knowing what I do now I would do it again. There is ALWAYS a list of things needing done, luckily I’ve grown better at ignoring them.

On the other hand, I do like being able to paint and decorate like I want, some rental situations may provide for this, but I never wanted to make the investment in someone else’s property before, even if I could have. If I want to change something, anything, I can. If I want to have five cats, a snake and a turtle I can (not that I do but…). Although I have to provide the money and or labor to do so. If something needs fixing, I have to pay for it, but that also means it gets done when and how I want.

Gardening has become a big thing for me, and I probably wouldn’t be able to do what I do on the same scale if I didn’t own my home.

But yes, for strictly financial and simplicity reasons I think renting wins, hands down.