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Nothing like having your own?

Posted by on Jun. 19, 2012 at 11:59 AM
  • 42 Replies
1 mom liked this

People have told me their complaints about being a homeowner. But I am still strongly considering it.

Anyone whom owns or ever owned a home, would you please be kind enough to share your pros and cons, do's and don'ts, etc. with me please?

Thanks.

by on Jun. 19, 2012 at 11:59 AM
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Replies (1-10):
CocolateLady
by BookWorm on Jun. 19, 2012 at 12:00 PM
I can't wait to own a home one day!!
CoolRelax
by Silver Member on Jun. 19, 2012 at 12:04 PM

I love owning a home.  It's our space - no neighbors upstairs or downstairs, a yard.  We didn't even want to live in a townhouse.  We can make changes as we see fit.  

The cons: it's more maintenanc, and every little thing costs money.  It's more house to clean.  In this market, most likely you'll be upside down on your loan the day you sign it (I wouldn't just invest in real estate right now, but the home value doesn't make too much of a difference when you plan on living in the house for some years). 

queensweet
by on Jun. 19, 2012 at 12:05 PM

You and me both! I am so tired of renting and not getting my money's worth. Plus I view it as a sense of accomplishment and pride.

Quoting CocolateLady:

I can't wait to own a home one day!!


queensweet
by on Jun. 19, 2012 at 12:08 PM

I know, girlll. I heard from one of my former classmates that someone on her block sold their house for about 75k and she financed her home for over 100k. So now her property value has went down. I have seen houses that are at prices that are a steal! Maybe I will look into those.

Quoting CoolRelax:

I love owning a home.  It's our space - no neighbors upstairs or downstairs, a yard.  We didn't even want to live in a townhouse.  We can make changes as we see fit.  

The cons: it's more maintenanc, and every little thing costs money.  It's more house to clean.  In this market, most likely you'll be upside down on your loan the day you sign it (I wouldn't just invest in real estate right now, but the home value doesn't make too much of a difference when you plan on living in the house for some years). 


Diva-Mami
by Silver Member on Jun. 19, 2012 at 12:29 PM
There is nothing like doing what you want in your own space. Yes you will spend more money, but you own it. You can paint if you want, tear a wall down, add a room, whatever. I loved it and cant wait to do it again.
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PurplWildFlower
by Blaxican #1 on Jun. 19, 2012 at 1:21 PM

I think it's worth it, there is nothing like your own. I can blast my music if and when I want. I dont have to worry about my dd running around the house waking up neighbors. 

But as I was told.  There will always be something with a house, even if you have custom built from the ground up with all the money at your disposal - there is always something lol

DeeDee_28
by on Jun. 19, 2012 at 1:22 PM
I can't wait till I can buy my own house :)
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inmybizz
by Platinum Member on Jun. 19, 2012 at 1:40 PM
2 moms liked this

pros- it's all yours

Cons- it's all yours..LOL!! the maintenance, yard up keep, everything the prevoius poster said..

I would suggest when looking for a home to take your time and really look at where you want to live..Location and school ratings are important in maintaining resale value.(this seems to be true in my area).

Make a list of "must haves" and "wants" chances are the home many not have everything you want but it could be a very good deal and you can always renovate later.

fixer uppers can be a great value price wise but  you can end up spending a lot of money on the back end fixing it up..

check foreclosures- My friend just picked up a fabulous house for 350,000ish it was on the market before forclosure for 750,000..  

KymberleeAnn
by on Jun. 19, 2012 at 2:29 PM

I'm working on that, I would love to own my own home. I'm sure it just like everything in life has it's ups and downs but I would still rather own my own.

The only two cons that i can think of right now is that you have to , (well I can think of a few more cons)

1. You have to have some sort of insurance, flood and the likes

2.You will get fined in NYC if you don't properly recycle, or clear away the snow or keep your sidewalk in front of your house clean.

3. You have to do all the repairs/maintenance all falls on your lap and comes out of your pocket

4. If you have cracks and things like that in from of your house and someone fall and get hurt you may be held accountable.

5. Heating and water bills

^. The oil to keep the house warm is very, very high

But my and dh are still considering bying a house.



leaniece
by Platinum Member on Jun. 19, 2012 at 2:41 PM

we are currently looking to purchase a home....NO MORE APTS!!!  no more wasting money on rent, down the drain. We cant wait!

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