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Love & Marriage Love & Marriage

Rent VS Own

Posted by on Apr. 30, 2013 at 7:10 PM
  • 63 Replies

My husband and I are starting to look at saving up for a down payment on a house of our own. We've always rented. Now that we are a family of 4 and possibly looking to expand our family with one more in the future. We are needing a bigger place.  

I know the obvious things like we take care and pay for all of the maitenence, repairs, lawn work etc. 

But what are some of the biggest things about buying a house that you didn't know when you started the process? taxes? insurances? 

Is it more of a hassle to own a home and better to rent or the other way around? 

by on Apr. 30, 2013 at 7:10 PM
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Replies (1-10):
alexsmomaubrys2
by Silver Member on Apr. 30, 2013 at 7:11 PM

Imagine what you think it will cost to maintain your house and then triple it! LOL.

It isn't easy owning a house but it is better than renting.

jdy9440
by on Apr. 30, 2013 at 7:12 PM

For us it was the unexpected things that come up , furnace, roof, ect.

Autumn355
by on Apr. 30, 2013 at 7:27 PM

Owning a home is FAR better then renting. So far there isnt anything that would make renting better. Our monthy house payment for a 3b/2b is 20 dollars more than it was for a 1b/1b apartment. I have no complaints

IQuitCounting
by Bronze Member on Apr. 30, 2013 at 7:31 PM

I've never owned, so I can't answer any of that, but I found it funny that I just read an article that compared the happiness of renters vs owners... and renters came out on top, lol.  I'm guessing it's due to all the stress and things like maintenance.

SAHM2011
by on Apr. 30, 2013 at 7:39 PM

That isn't much more at all! Is that including your home owners insurance and everything? How much did/are you guys pay for your house overall, if you don't mind me asking that is.

Quoting Autumn355:

Owning a home is FAR better then renting. So far there isnt anything that would make renting better. Our monthy house payment for a 3b/2b is 20 dollars more than it was for a 1b/1b apartment. I have no complaints


SAHM2011
by on Apr. 30, 2013 at 7:40 PM

Yea that would be the big one. With having to constantly pay taxes on a house every year, pay for all of the maitenance, the fact that you can't just move without any type of down fall. 

Quoting IQuitCounting:

I've never owned, so I can't answer any of that, but I found it funny that I just read an article that compared the happiness of renters vs owners... and renters came out on top, lol.  I'm guessing it's due to all the stress and things like maintenance.


som610
by on Apr. 30, 2013 at 7:46 PM

Buying is a ton better than renting!

Usually your homeowners insuarnce/taxes everything is included in your mortgage.

When we rented we still had to take care of the yard and general maitenance (filters and such). Having to pay to fix broken items in your house is the only downfall IMO.

browneyedbitty
by Member on Apr. 30, 2013 at 8:30 PM
Owning is much better, why pay someone else's mortgage when you can pay your own. Interest rates are still low. You can negotiate for the seller to provide you with a 1 year home warranty in some cases. I work in real estate.

The only way owning can be risky is if you won't be living in the house long enough to gain enough equity to cover the cost of sale. The amount of time depends on the market climate in your area. So if you are going to move in under say 3 years or so it might not be worth it. Let me know if you have any other questions. I would be happy to answer if I can.
Imjustinsmommy
by Member on Apr. 30, 2013 at 8:33 PM
1 mom liked this

 we  rented for year & we bought our home 6 yrs ago.. yes its work & we had to repair stuff,  replace stuff.. re do stuff but its OURS  whe we pay  our mortgage it goes to OUR home not  just to some other guys mortgage. we get to do as we please & have stability. i personally love it.. its worth it to me & dh. i never felt stable renting..  never knew when they'd  move or sell the house or  raise the rent..   now i feel HOME bc its ours & we dont share it  with anyone.. thast just me

SAHM2011
by on Apr. 30, 2013 at 8:46 PM

hmm I didn't know that those things were together. That would make it easier.

Quoting som610:

Buying is a ton better than renting!

Usually your homeowners insuarnce/taxes everything is included in your mortgage.

When we rented we still had to take care of the yard and general maitenance (filters and such). Having to pay to fix broken items in your house is the only downfall IMO.


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