Is homeowner ship more burdensome that it is worth.?
cost of maintaining a home, Taxes,
- 1 decade agoBest Answer
I would say homeowner ship is totally worth it. If a homeowner does the upkeep on a house along the way it should not be burdensome. I love that I have my very own home. It's a great investment and the appreciation has gone up on the house without me even doing any upgrades other than a fence. I'm a single homeowner and I have a handy man that comes out and he has cut back my trees and cleared out my flowerbed. Next he is coming out to weather stain the fence. I think I'm going to try my hand at painting the trim on the outside to freshen it up. Owning a home can be fantastic. You don't have a landlord telling you what you can and cannot do. You totally feel at ease in your home and the best thing is no shared walls!!! I hated that the most when I rented, not to mention the shared yard, and no garaged. Now if I want to paint I don't have to get permission, if I want to plant I don't need permission, If I want to put holes in the wall and hang a picture I don't have to worry about not getting my deposit back.
My home taxes are included in my mortgage and my mortgage payments are very reasonable. I have a FHA 30 year mortgage locked in at 5.7%
Owning my own home has given more joy than I could have imagined and like I said, it's mine!! It's been almost ten years and sometimes I still can't believe that this is my house. It's not big, or anything fancy, but it's mine.
- MarkoLv 61 decade ago
I wouldn't say it was. I looked forward to coming home each evening to your own place. I tried take care of it doing the monthly things that you should do to keep it up, so the financial cost was not an issue. The taxes, insurance and mortgage is all in one payment so as long as you can easily handle it, ok. You're then just one of the people who live on the block who have a home that is theirs. Well, the bank's, really.
You tend to worry about the heating and cooling bills, the water heater, the dripping faucet, the closet door that won't close, the strange smell that you can't tell where it's coming from, mowing the lawn when it's 95 degrees, stuff like that.
People give you a little more respect when they see you as a home owner rather than an apartment renter. Also, you get to care for it more each year, for some reason, maybe because it is keeping you out of the rain and cold. And, hopefully, at least holding its value over the years that will pay off when you have move or sell.
You can spend thousand of dollars a year on maintenance if you want. You can add a deck or a new garage on your own and nobody can say you can't. That part is nice.
Anyway, if you have a steady income, put down 20 percent, get a 3Bed-2Bath house, you can put your stuff in it and if you have to sell, that size house will be good for the majority of home buyers.
- 1 decade ago
Your question is pretty wide open. This day an age, you might think long and hard about buying a house, I've owned 8 homes over the years, each one went up in value, not any more. I build one three years ago. I could buy but one 1/3 less today. If your not a handyman type person I would rent for a while, house prices are still coming down in most areas of the country. Good luck
- 1 decade ago
It depends on the home. I lived in an old (50 yr old) home that was more "burdensome" that it was worth.
Any home less than 15 years should be low maintenance and low burden. If you hate maintenance, buy a home less than 15 yrs old and plan on moving as the home gets older.
Financially speaking, it just depends on what your income will allow for.
- How do you think about the answers? You can sign in to vote the answer.
- 1 decade ago
Just as long as you know when to mortgage and file for bankruptcy!