Anyone else who will likely never be a home owner?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no way for you to know what your life will be like one year from now or even 6 months from now, so how can you say with certainty that you'll never own a home or that there is no way forward?

Well cause I don’t play the lottery and I can’t get qualified to do anything that pays higher than I earn now.

What do you mean "can't get qualified"? So it's lack of enough education? Go back to school then, or get licensed doing something that pays more than what you're currently doing.

Or maybe you're actually comfortable with the life you have, and the level of success you've reached. That's okay, but don't make it sound like whoa is me...it's everyone else's fault I can't buy a home.

I can’t go to school or get licensed to do something that pays more.

Why?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Single parent who will never own a home either. It is what it is. I try to remind my non-handy self that home ownership comes with its expectations of fixing stuff yourself. No thanks.

+1 here. No mowing lawns or shoveling snow either.

We rent a rowhouse in DC and the landlord doesnt mow the lawn or shovel snow???

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Single parent who will never own a home either. It is what it is. I try to remind my non-handy self that home ownership comes with its expectations of fixing stuff yourself. No thanks.

+1 here. No mowing lawns or shoveling snow either.

We rent a rowhouse in DC and the landlord doesnt mow the lawn or shovel snow???

The landlord isn't responsible for shoveling your snow, or mowing your lawn. What world do you live in?

[Anonymous]

I have hated owning every home I have lived in. It’s a waste of money. Your money is trapped in the house. Somethings always breaking. I’ve spent more money and repair and maintenance for houses that have not been that old that it is ridiculous. I dream of having an apartment. I can’t do that at this point until my kids are out of my house and that’s 10 more years. Being a homeowner really isn’t all that. It also seriously limits your flexibility and if you don’t like the house you’re stuck in it for years because you can’t turn around and sell it right away or you’ll lose money. I cannot wait to run because when I rent a place, if I decide I don’t like it I can move in the lease is up and I don’t lose a thing.

[Anonymous]

I own a home because it offers equity. As I pay the mortgage I build a nest egg. That’s the upside. I agree with others rhst there are downsides.

It’s work and maintenance and unless you’re rich, those things are stressful and always seem to come up at the worst time financially.

I will own my home until I retire and then plan on moving into an apartment. When the heat isn’t working or the dishwasher breaks it’s the landlords problem to solve.

[Anonymous]

Anonymous wrote:I have hated owning every home I have lived in. It’s a waste of money. Your money is trapped in the house. Somethings always breaking. I’ve spent more money and repair and maintenance for houses that have not been that old that it is ridiculous. I dream of having an apartment. I can’t do that at this point until my kids are out of my house and that’s 10 more years. Being a homeowner really isn’t all that. It also seriously limits your flexibility and if you don’t like the house you’re stuck in it for years because you can’t turn around and sell it right away or you’ll lose money. I cannot wait to run because when I rent a place, if I decide I don’t like it I can move in the lease is up and I don’t lose a thing.

Same, but I hate living at the whims of trash landlords even more.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If your jobs are not high paying (and it sounds like they aren't), have you considered relocating? There are plenty of perfectly nice places, with amenities comparable to or better than DC, which are much more affordable (and may even have better weather).

What do you consider “better” weather in a lower cost area? Also have you considered thh HB at if I move to a lower cost area I would get paid less? Also I live in a city and don’t have a car. In some other place I might need one which is a big cost with ongoing costs.

Millennials drastically overestimate the cost of owning a car. It's a thousand a year for insurance and almost nothing for maintenance (maybe a couple of hundred typically). As far as COL versus location, your housing costs can drop by half - do you really think your salaries will also?

[Anonymous]

To those saying you’ll never own a home, what is the barrier for you? I get homes in this area are expensive but have a cousin, a single school teacher, who just bought a nice townhome in Laurel (HoCo) for $400k and she qualified for a first time homebuyer program and only put down $25k which took her several years to save. This was before rates went up but she has a doable mortgage which, according to her, still allows her to pay for vacations, etc.

Her house is really cute, but not updated. Nice neighborhood. 3 br / 2 ba. She’s going to update it over time. Sometimes I wonder if people have very high expectations so aren’t willing to think about a different area or go townhome vs SFH.

[Anonymous]

Are you sure you aren’t able to afford, or you aren’t willing to make sacrifices? Sure maybe you won’t be able to afford a townhouse in Arlington; but you could easily try Woodbridge or Stafford.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Single parent who will never own a home either. It is what it is. I try to remind my non-handy self that home ownership comes with its expectations of fixing stuff yourself. No thanks.

+1 here. No mowing lawns or shoveling snow either.

We rent a rowhouse in DC and the landlord doesnt mow the lawn or shovel snow???

The landlord isn't responsible for shoveling your snow, or mowing your lawn. What world do you live in?

Yeah people bring this up as a great thing about renting - im just saying we rent and still have to do this.

[Anonymous]

Anonymous wrote:I have hated owning every home I have lived in. It’s a waste of money. Your money is trapped in the house. Somethings always breaking. I’ve spent more money and repair and maintenance for houses that have not been that old that it is ridiculous. I dream of having an apartment. I can’t do that at this point until my kids are out of my house and that’s 10 more years. Being a homeowner really isn’t all that. It also seriously limits your flexibility and if you don’t like the house you’re stuck in it for years because you can’t turn around and sell it right away or you’ll lose money. I cannot wait to run because when I rent a place, if I decide I don’t like it I can move in the lease is up and I don’t lose a thing.

I completely relate. Bought my first place when I was 25 in a rough area because it was cheaper than rent. I have been a homeowner since and owned 3 different properties. There are too many hidden costs to home ownership. You often sacrifice alot of flexibility and comfort vs renting. I think it is overrated.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is no way for you to know what your life will be like one year from now or even 6 months from now, so how can you say with certainty that you'll never own a home or that there is no way forward?

Well cause I don’t play the lottery and I can’t get qualified to do anything that pays higher than I earn now.

What do you mean "can't get qualified"? So it's lack of enough education? Go back to school then, or get licensed doing something that pays more than what you're currently doing.

Or maybe you're actually comfortable with the life you have, and the level of success you've reached. That's okay, but don't make it sound like whoa is me...it's everyone else's fault I can't buy a home.

Woe is me.

[Anonymous]

Anonymous wrote:Mid thirties couple here with no way forward regarding buying a home. I feel sad knowing I won’t be able to have a home to call my own and decorate and build a family in.

Anyone else in this boat?

No. You two had at minimum 10 years to live in a condo/townhouse (possible with roommates) and pay down the mortgage. Then take out the equity and buy something bigger. Since you don't seem to have done that, take the money you invested while renting all those years (Usually renting is cheaper than owning, so the difference you invested). You did that, right? If you live in DMV you have known for a long time that it is expensive to live here.
If no,t you two need to move into a studio and both work 1.5 jobs to save up for a townhouse somewhere outside of the city. Within a few years when the interest rates go down again, you should be ready to buy. Get a roommate if you do buy a townhouse or a house.

[Anonymous]

Buy a cabin in a nice rural place and spend weekends and vacations there fixing it up. Maybe retire there. Will have to be low-cost enough to keep paying rent in the city, too.

[Anonymous]

I've rented, owned, rented again, and now own again. My preferred state is home ownership. I am very much into interior design, so I like living in a place that meets my design specifications vs. white walls only. I also like the tax breaks.

My first house was an older home riddled with issues, and I despised living in the money pit. My current house is new construction and has zero issues. I have very much enjoyed living here for the past year.