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Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 2 months ago

With taxes, insurance, and the cost of maintenance and repairs is owning a home worth all the headache?

8 Answers

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  • 2 months ago
    Favorite Answer

    Is spending 100's of thousands in rent and building no equity worth it?

  • 2 months ago

    In my opinion, yes. In some other people's opinions, maybe not. It's up to the individual and what they want. 

  • Anonymous
    2 months ago

    It has been for me. A comparable rental unit would run about $1200/mo where I live, which is more than double my mortgage payment. Furthermore, after about ten years in the home, I had paid off most of the mortgage, which enabled me to refinance and take $50k in cash out, and I still have $60k in equity. I can do whatever I want with the money, including replacing my HVAC, appliances, etc. (I could also take a vaca with it, but probably won't.)

  • 2 months ago

    For me... costs of taxes, maintenance and repairs have been much less than the cost of renting. Plus you have your own place to do with as you please.

  • ?
    Lv 6
    2 months ago

    If you do not want to pay for repairs and you do not care if your rent increases by 3% every damn year, and you have a plan if your landlord sells the place you are living into someone who wants to tear it down and put you out on the street, and if you do not want to own an asset, then owning a home is not worth it at all

  • Anonymous
    2 months ago

    Yes it is. Renting is money down the drain without security of tenure. Owning your own home means you can improve or decorate it as you  choose. You never have to worry about rent rises or eviction. Even with the taxes, maintenance and a mortgage it's likely to be cheaper that renting. OK you call it a headache. But there isn't much worse than being evicted and ending up on the street. That risk is always present.

  • Anonymous
    2 months ago

    Obviously there is not a single answer that is correct for everyone.

    IMO every living situation has its pros and cons including owning vs. renting. 

  • 2 months ago

    I love my home, it's not a  mansion but its mine

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