I am looking at it strictly from financial point. I own a few rental single family homes in Las Vegas area, I also own my home In Los Angeles free and clear. If I were to sell my house and rent a similar one here and invest that money in rental properties I would come out ahead. Also the maintainence cost is a liability. Yes Appreciation is a factor but I don't think it a cause of concern at these inflated prices.
I like renting and is so refreshing to hear what I feel of homeownership despite what society says. I am not against ownership in some cases but hate the one size fits all you MUST own ASAP propaganda mentality. Only the home gross value is ever emphasised, no one ever mentions the 'hidden non recoverable costs' (interest, tax, maintenance, insurance, legal, selling costs) of owing and the hidden lifestyle inflation over time associated with owning v rent.
It’s cheaper to rent than buy now. Home ownership costs $$$ I own my home outright and just paid $2k this month for roots in sewer line and major repairs for “critter control”. 1k to cut a tree over the house. $400 driveway repair. 3k summer property taxes. Money pit 😆
Congrats on owning your home outright! That's a great accomplishment. Those expenses can be annoying for sure. For some people it's still worth owning their home - just depends on their goals. If their goals involve not having to trade their time for money in their 30s, 40s and 50s, homeownership may not be for them.
Very good episode
Thank you! Nice of you to say. What did you like best about it?
I can't agree more.
Thank you! What part of the episode resonated with you the most?
I am looking at it strictly from financial point. I own a few rental single family homes in Las Vegas area, I also own my home In Los Angeles free and clear. If I were to sell my house and rent a similar one here and invest that money in rental properties I would come out ahead. Also the maintainence cost is a liability. Yes Appreciation is a factor but I don't think it a cause of concern at these inflated prices.
Interesting. If you would come out ahead why don't you do it?
@@SecretsToAbundantLiving Hate to move again.
@@asifsiddiqui832 ah yes of course. Fair enough!
I like renting and is so refreshing to hear what I feel of homeownership despite what society says. I am not against ownership in some cases but hate the one size fits all you MUST own ASAP propaganda mentality. Only the home gross value is ever emphasised, no one ever mentions the 'hidden non recoverable costs' (interest, tax, maintenance, insurance, legal, selling costs) of owing and the hidden lifestyle inflation over time associated with owning v rent.
You are not alone! Sounds like you've done a powerful job assessing the upsides and downsides of home ownership. Cheers!
It’s cheaper to rent than buy now. Home ownership costs $$$ I own my home outright and just paid $2k this month for roots in sewer line and major repairs for “critter control”. 1k to cut a tree over the house. $400 driveway repair. 3k summer property taxes. Money pit 😆
Congrats on owning your home outright! That's a great accomplishment. Those expenses can be annoying for sure. For some people it's still worth owning their home - just depends on their goals. If their goals involve not having to trade their time for money in their 30s, 40s and 50s, homeownership may not be for them.