Reply to Rent or buy if staying 8 more years?

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[quote=Anonymous][quote=Anonymous]I’m assuming you were still paying a mortgage before you sold?

Did you make any money on the sale?

If I were in your shoes, I’d rent. I’d invest the money I made on the house, and then just pay what I’d be paying on my mortgage, on rent instead.

I am tired of home repairs and yard work and would love the idea of eight years of not having to worry about that. Sometimes I miss the freedom of renting.[/quote]

Yes, I was paying a mortgage.

I had a lot of unforseen repairs. I made some money but not as much as I thought I might.

I also don't want to deal with the risk of home repairs or paying for yard maintanence. I am a single woman (divorced with two kids) and have zero time for yard work. The cost of maintaining my yard and landscaping was ridiculous.

Because I would likely move in 8 years, I am thinking of investing all of the house proceeds into the market for future property later when I am ready to make a permanent decision...likely when I retired in 15-17 years.

I don't think buying makes sense unless someone is maintaining a family home for kids to come back to. My kids have lived in 3 states. I have lived in 6. There is no "family home" since kindergarten or birth...I just am starting to think that the 30-year mortgage model is outdated. It made sense when people bought between ages 25-30 and stayed in it until they retired because it was a forced savings account for 30 years.  If you know how to invest, you can make more in the market than trapped in a house making a bank rich. I have owned several properties and it always felt like a trap. Conventional guidance of "you have to be a home owner" is so entrenced in our society now that it is hard to not buy...but I really think renting in my case is a better option.[/quote]

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