Re: Why would a sane person purchase a home?
12-31-2012 09:17 PM
As for myself, I live in a small community. Housing prices are really down. Way down. I don't believe any house has actually sold in the past 6 months (as per my appraisal) within a 5 mile radius of my purposed new (to me) home. There are very few rentals and the few that do exist are not in very good neighborhoods. Additionally, they are more expensive than buying a modest home. For me it will be about 100.00 per month cheaper than what I pay in rent. But its not just about the money in my case. I'm getting older now (56) and although I consider myself 18 with 35+ years of experience...moving isn't as easy as it once was. I like being able to decorate to suit my tastes. You can't find granite counter tops, stainless appliances, designer colors in rentals in my area. I like the idea of being able to plant flowers where I want. I like the idea of not having to renew a lease or if the landlord decides he wants his daughter and her new husband to live in his rental, me having to move. That actually happened to me a few years ago. He only gave me 30 days to find a new place and even though he gave me that months rent free and did return my deposit that didn't cover my moving expenses, not to mention the mental anguish I went through having to find some place. I have a 14 year old dog that I wont get rid of regardless and once he goes to heaven (all dogs do ya know ) I will eventually want another and I don't want to have to ask anyone's permission to have a pet. So even IF buying a home was going to cost me more than renting I believe I would still want to buy. If for no other reasons than to have a place I can call home FOREVER. Even though I am going with a USDA guaranteed loan which they only do at 30 year fixed rates, I believe I can double my payments and have it paid off in less than half that time and maybe, just maybe I will get to enjoy my retirement without the headaches and expense of renting. I can't imagine being 70 years old or older and told I have to move because someone's family member wants to live in my house.