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sanatanadharma

(3,730 posts)

12. I have rented most of my life, paid mortgages on property but personally received no equity

Thu Apr 25, 2024, 11:24 AM

Apr 25

I have rented most of my life; paid mortgages on some property but personally received no equity; ex did.
She is not happy as a home owner, because the house and the self get mixed up and material possessions cause unhappiness.

Owning a home makes one a house-holder, a valued status. Why?
It is more like one is house-held, than the reverse. One is less free to pack it up and move. Without a mortgage to inhibit me, I moved to a different hemisphere (on my schedule), still rent but get so much more value for my housing dollar than in the States.

But, if I had valued property instead of adventures, I would become a rich, boring, dead man.
I'm too old to worry about wealth (to be left behind) yet young enough to enjoy the happiness of a full short life ahead.

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Anyone else only rent? [View all] XanaDUer2 Apr 25 OP

I don't think there is a right or wrong. jimfields33 Apr 25 #1

My cousin lists XanaDUer2 Apr 25 #2

How about 25K for a roof and 8.5 grand for HVAC. jimfields33 Apr 25 #3

Gulp XanaDUer2 Apr 25 #4

I know. Enjoy renting and you are NOT a loser! jimfields33 Apr 25 #5

Fans and wet towels in summer; tiny electric space heater when needed. quaint Apr 25 #34

You get tons of tax write-offs for those expenses though which means a big refund check yearly... brush Apr 25 #7

That is untrue. I didn't get a tax write off for roof or HVAC jimfields33 Apr 25 #8

You've got to get a new accountant. Such expenses are write-off-able. brush Apr 25 #11

Thanks. I definitely will look into this. jimfields33 Apr 25 #24

Write-offs on your personal house TexasBushwhacker Apr 25 #38

You don't get a tax write off unless it's investment property. we can do it Apr 25 #15

Who told you that? Your home is an investment and your... brush Apr 25 #21

The interest on your mortgage is deductible TexasBushwhacker Apr 25 #39

In other words, you get quite a few deductions from ownership, that you don't get from renting. brush Apr 25 #42

Owning a home is certainly worth it TexasBushwhacker Apr 25 #43

Paid my mortgage off before I turned 60. MichMan Apr 25 #6

Same here. we can do it Apr 25 #16

Same here DBoon Apr 25 #33

I sold my last house about 8 years ago. Just when prices were beginning to skyrocket captain queeg Apr 25 #9

Thank you XanaDUer2 Apr 25 #10

Yep it's always something. The only advantage is the mortgage stays the same. captain queeg Apr 25 #18

for me it's not so much the money, it's finding good help. mopinko Apr 25 #41

I have rented most of my life, paid mortgages on property but personally received no equity sanatanadharma Apr 25 #12

Hopefully, we can find a cheap condo XanaDUer2 Apr 25 #14

Well, good luck on finding that cheap condo. The monthly condo fee could eat up any savings you might score. SWBTATTReg Apr 25 #31

I had a Chinese girlfriend that used to talk about "house slaves". captain queeg Apr 25 #23

A house ties you down if bad neighbors move in, you want a cbabe Apr 25 #13

Honestly I have lived in the same place for 30 years and rented Walleye Apr 25 #17

Thank you XanaDUer2 Apr 25 #19

I'm pretty sure I couldn't take care of the house by myself. And every time I thought I might, somebody said $7000 roof Walleye Apr 25 #35

There's not a "one size fits all" for each individual. Niagara Apr 25 #20

Homeownership enid602 Apr 25 #22

I'll add one more advantage of renting that I've been thinking about lately captain queeg Apr 25 #25

I'm thinking about dual citizenship nt XanaDUer2 Apr 25 #26

My house has been an albatross for many years now, JenniferJuniper Apr 25 #27

Yes XanaDUer2 Apr 25 #28

I rent. I'm 63 and have artificial knees, hips and shoulders. By the time I was 35 I really didn't want to deal with brewens Apr 25 #29

Neither of us can do yardwork XanaDUer2 Apr 25 #30

Made money from houses bought and lived in Chalco Apr 25 #32

XanaDUer2............. Upthevibe Apr 25 #36

This is me XanaDUer2 Apr 25 #37

XanaDUer2 ......... Upthevibe Apr 25 #44

I have a house but Elessar Zappa Apr 25 #40