Why when and who should buy a house?

[SD Realtor]

Yeah I agree with the two previous posts in a big way. For sure there are alot of ifs out there but if rates are gonna be sky high someday than there is no doubt in my mind that borrowing money at 4.5% will be looked back on as a GOLDEN opportunity unless you have a big big cashpile.

As far as your A,B,C in ranking the factors of choosing a home I guess I choose none of them. I would choose the home I love the most IFF (if and only if) I can afford it and am secure in my income to pay for it (job security). I think that the ABC you put forward all will roll into how much I love it.

Think of the home as a woman, do you love her for her looks, personality, and other fetching features? Isnt it all kind of a blend of all of those things? So maybe the ABCs of the home you mentioned all roll into that as well as the neighborhood, the lot, the traffic on the street, other needs that may be important to YOU but maybe not others.

For alot of people the universal renting solution is best for THEM. It works, they love it, they are okay with landlords, and notowing the home. To each his own!

[an]

[quote=irondoc]
Do you think there is any good reason to buy a home versus renting?

If renting is the universally “better” solution, who should be owning the dwellings that are being rented?

Is there a “prime” time in life to purchase a home?[/quote]
I don’t think renting is universally “better”. It really all comes down to which is cheaper at the time. Buying a house is one way to hedge against inflation (if you buy w/ a fixed rate). When you buy a home and plan to stay in it for a very long time, you’d know exactly what your monthly payment is for the next 15-30 years. While rent, it can go up and down. However, if inflation continue to average out to be ~3% each year, that’s how much you can expect rent to go up by on average. There’s no one prime time to buy a home for everyone. Everyone is different and have different plans, but for me, the prime time is when I can easily afford a home, ready to settle down, and it’s cheaper to buy the place for cheaper than it cost to rent a similar place. Also, I have to keep in mind as to when I want to retire. I want to have a paid off house by retirement.

[an]

[quote=irondoc]
Do you think there is any good reason to buy a home versus renting?

If renting is the universally “better” solution, who should be owning the dwellings that are being rented?

Is there a “prime” time in life to purchase a home?[/quote]
I don’t think renting is universally “better”. It really all comes down to which is cheaper at the time. Buying a house is one way to hedge against inflation (if you buy w/ a fixed rate). When you buy a home and plan to stay in it for a very long time, you’d know exactly what your monthly payment is for the next 15-30 years. While rent, it can go up and down. However, if inflation continue to average out to be ~3% each year, that’s how much you can expect rent to go up by on average. There’s no one prime time to buy a home for everyone. Everyone is different and have different plans, but for me, the prime time is when I can easily afford a home, ready to settle down, and it’s cheaper to buy the place for cheaper than it cost to rent a similar place. Also, I have to keep in mind as to when I want to retire. I want to have a paid off house by retirement.

[an]

[quote=irondoc]
Do you think there is any good reason to buy a home versus renting?

If renting is the universally “better” solution, who should be owning the dwellings that are being rented?

Is there a “prime” time in life to purchase a home?[/quote]
I don’t think renting is universally “better”. It really all comes down to which is cheaper at the time. Buying a house is one way to hedge against inflation (if you buy w/ a fixed rate). When you buy a home and plan to stay in it for a very long time, you’d know exactly what your monthly payment is for the next 15-30 years. While rent, it can go up and down. However, if inflation continue to average out to be ~3% each year, that’s how much you can expect rent to go up by on average. There’s no one prime time to buy a home for everyone. Everyone is different and have different plans, but for me, the prime time is when I can easily afford a home, ready to settle down, and it’s cheaper to buy the place for cheaper than it cost to rent a similar place. Also, I have to keep in mind as to when I want to retire. I want to have a paid off house by retirement.

[an]

[quote=irondoc]
Do you think there is any good reason to buy a home versus renting?

If renting is the universally “better” solution, who should be owning the dwellings that are being rented?

Is there a “prime” time in life to purchase a home?[/quote]
I don’t think renting is universally “better”. It really all comes down to which is cheaper at the time. Buying a house is one way to hedge against inflation (if you buy w/ a fixed rate). When you buy a home and plan to stay in it for a very long time, you’d know exactly what your monthly payment is for the next 15-30 years. While rent, it can go up and down. However, if inflation continue to average out to be ~3% each year, that’s how much you can expect rent to go up by on average. There’s no one prime time to buy a home for everyone. Everyone is different and have different plans, but for me, the prime time is when I can easily afford a home, ready to settle down, and it’s cheaper to buy the place for cheaper than it cost to rent a similar place. Also, I have to keep in mind as to when I want to retire. I want to have a paid off house by retirement.

[an]

[quote=irondoc]
Do you think there is any good reason to buy a home versus renting?

If renting is the universally “better” solution, who should be owning the dwellings that are being rented?

Is there a “prime” time in life to purchase a home?[/quote]
I don’t think renting is universally “better”. It really all comes down to which is cheaper at the time. Buying a house is one way to hedge against inflation (if you buy w/ a fixed rate). When you buy a home and plan to stay in it for a very long time, you’d know exactly what your monthly payment is for the next 15-30 years. While rent, it can go up and down. However, if inflation continue to average out to be ~3% each year, that’s how much you can expect rent to go up by on average. There’s no one prime time to buy a home for everyone. Everyone is different and have different plans, but for me, the prime time is when I can easily afford a home, ready to settle down, and it’s cheaper to buy the place for cheaper than it cost to rent a similar place. Also, I have to keep in mind as to when I want to retire. I want to have a paid off house by retirement.

[scaredyclassic]

If you have enough money and your wife absolutely insists then and only then buy a house. Otherwise rent.

[scaredyclassic]

If you have enough money and your wife absolutely insists then and only then buy a house. Otherwise rent.

[scaredyclassic]

If you have enough money and your wife absolutely insists then and only then buy a house. Otherwise rent.

[scaredyclassic]

If you have enough money and your wife absolutely insists then and only then buy a house. Otherwise rent.

[scaredyclassic]

If you have enough money and your wife absolutely insists then and only then buy a house. Otherwise rent.

[Tillers]

Here’s my situation:

*Single
*No kids
*No debt
*Successful

I am happy renting, don’t see it as a waste of money as some will try and convince me. I have enough money after rent to invest some and spend some on toys.

Why I’m looking to buy:

I would like a yard to garden and entertain in. I’d like the ability to customize my living quarters (paint, tile, carpets, fixtures). I like working on my vehicles. I’m mechanically savvy and often help friends with theirs. This is hard or impossible to do in an apartment. I’d like the garage for my tools and any other hobbies I wish to take up. I can make more noise in a house, play my music at night, use power tools and play the drums. Walking around the back yard naked is nice to!

Sure I could rent a house and have all the same perks, but the cost to rent a house in this market will not be much less than buying.

[Tillers]

Here’s my situation:

*Single
*No kids
*No debt
*Successful

I am happy renting, don’t see it as a waste of money as some will try and convince me. I have enough money after rent to invest some and spend some on toys.

Why I’m looking to buy:

I would like a yard to garden and entertain in. I’d like the ability to customize my living quarters (paint, tile, carpets, fixtures). I like working on my vehicles. I’m mechanically savvy and often help friends with theirs. This is hard or impossible to do in an apartment. I’d like the garage for my tools and any other hobbies I wish to take up. I can make more noise in a house, play my music at night, use power tools and play the drums. Walking around the back yard naked is nice to!

Sure I could rent a house and have all the same perks, but the cost to rent a house in this market will not be much less than buying.

[Tillers]

Here’s my situation:

*Single
*No kids
*No debt
*Successful

I am happy renting, don’t see it as a waste of money as some will try and convince me. I have enough money after rent to invest some and spend some on toys.

Why I’m looking to buy:

I would like a yard to garden and entertain in. I’d like the ability to customize my living quarters (paint, tile, carpets, fixtures). I like working on my vehicles. I’m mechanically savvy and often help friends with theirs. This is hard or impossible to do in an apartment. I’d like the garage for my tools and any other hobbies I wish to take up. I can make more noise in a house, play my music at night, use power tools and play the drums. Walking around the back yard naked is nice to!

Sure I could rent a house and have all the same perks, but the cost to rent a house in this market will not be much less than buying.

[Tillers]

Here’s my situation:

*Single
*No kids
*No debt
*Successful

I am happy renting, don’t see it as a waste of money as some will try and convince me. I have enough money after rent to invest some and spend some on toys.

Why I’m looking to buy:

I would like a yard to garden and entertain in. I’d like the ability to customize my living quarters (paint, tile, carpets, fixtures). I like working on my vehicles. I’m mechanically savvy and often help friends with theirs. This is hard or impossible to do in an apartment. I’d like the garage for my tools and any other hobbies I wish to take up. I can make more noise in a house, play my music at night, use power tools and play the drums. Walking around the back yard naked is nice to!

Sure I could rent a house and have all the same perks, but the cost to rent a house in this market will not be much less than buying.

[Author]

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