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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Thanks for the suggestions everyone. Maybe it’s just a dream to own my own home. [/quote]

Owning house is really not great at all in fact, I hate it. It is never ending repairs. There’s always something breaking. There’s a ton of maintenance and it’s just not worth it. I have no idea why you would wanna buy a house when you’re an empty nester when I’m an empty nester I am renting an apartment or living in a condo. I don’t wanna take care of the maintenance of the house. It is just too much especially with one adult. I think you should strongly reconsider this idea of owning a house. It’s really not that great and it really is a mortgage trap of debt for 30 years. There are better ways to spend your money. A house is not an investment. It’s just a place to live. Real estate is only an investment if it’s an income producing property and you don’t actually live there. [/quote]

OP here. I will be priced out if most rentals where I currently live within about four years if the rent keeps increasing at the same pace. I have lots of friends who bought a house in their 20s/early 30s and the house is now worth hundreds of thousands more. They’d make bank if they sold it (and a few are planning on selling soon when their kids graduate).

I never made enough as a single parent to buy a house which was fine back then. I was able to get my kids through college and renting wasn’t an issue. It is now. I just cannot afford it. I’ve been looking at renting cheaper properties like condos but they really aren’t cheaper anymore. I feel stuck and pretty much like a failure. I can’t afford to rent even though my salary is going up. I definitely wish I could go back in time and not go into teaching. I have the equivalent of two Master’s degrees but won’t be able to rent much of anything. Very frustrating. [/quote]

The idea that you think that your friends would sell their house and have a crap ton of money shows how knowledgeable you are about owning a home. Unless you own the house for 15 to 20 years and you basically lived in this exact area where prices have gone insane most people only break even they really don’t make that much money. I’ve owned multiple properties. When I made $100,000 I didn’t really make $100,000 I really only made $50,000 because I put so much money into the house. Another property I broke even on and another property I broke even on. Renting would’ve been cheaper for me the entire time. One house I thought that had no problems I spent $35,000 in three years in repairs that were unexpected that were missed by an inspector; owning is extremely risky. I am purchasing a place now only because I don’t wanna be told to move by a landlord, but when I can move in seven years when both of my kids are in college, I will be selling and I will be a lifetime renter. The yard maintenance alone is enough to put me off buying any regular townhouse or a single-family home. I have had both single-family homes and townhouses. In addition, property taxes go off every single year so it’s not like your payment stays the same. My property taxes went up like $300 each month last year. [/quote]

My friends have sold their homes and they’ve made plenty. I’d like to leave something to my kids. This area is driving me out and even renting won’t be an option. I already work two jobs and I don’t have anymore time for more. [/quote]

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