I purchased my townhouse in April 2006, with a flounce and much attitude. I was fresh out of a relationship that ended poorly, that was bruising and caused me to move back home, cross country with my tail between my legs. Buying another house, was a symbol to my tattered ego, that I was bent, but not broken. I was yet still independent and what did grown people do, well they bought houses!!
Fast forward, 5 years later and I’ve gotten a husband and all the stuff that comes along with him. We have more than enough space for the 2 of us in 1500 square feet, so that’s not my concern. I look at my townhouse now and see the old, dated kitchen which I didn’t care about back then, but I wish was nicer for my chef husband to create his masterpieces in. I hate the battered hardwoods in the dining area.
All of the cabinets need replacing or at the very least re-facing throughout the house both in the kitchen and bath areas. And like most folks, my property values have declined and I probably owe more on a 20 year old house than it’s worth.
Having said all that I like my little house and I’m glad to have a mortgage that isn’t taxing (no ARMS for me!) but I don’t know that I’d want to buy another house again. I’m not sure it’s worth it other than the mortgage interest deduction. Being a homeowner, at the least the maintenance part, isn’t all it’s cracked up to be. I know Myron wants a house, and to own, not rent…so we’ll probably go down that path together. But if I was single, I’d rent a house or condo and call it a day. There’s something to the notion of not being tied down by a mortgage.
Do you own, or rent? Still thinking about buying something eventually if you are a renter? And if you own now, do you regret buying?