Rent or Own Your own home?

SeaBreeze

Endlessly Groovin'
Location
USA
We own our own home and paid off our mortgage before taking early retirement, over ten years ago. We both plan to live in our home, either together or alone if one of us passes on, for as long as possible, preferably until we die. Can't tell the future, just hope for the best. The only time we rented was when we were young, before we married.
 

Lee

Member
Location
Chatham, Ontario
Owned a home, sold it and then found out it was impossible to get a decent apartment. So went into an indecent apartment because the cat decided that sleeping in the truck for the winter was not an option.

So bought a mobile home, rent the land but the home is mine and the banks....small mortgage and a lot cheaper than renting even factoring in the cost of upgrades.

I cannot imagine not having a yard, must haves are flowers and a barbq and little veggie plot.
 
I knew I didn't want to live in my own house forever. I like apartment living!
We've been in our house for 38 years. We're also looking to rent an apartment in the next few years. We figure it makes no sense to be in our 70's and continue to have to do maintenance to house and yard, or worse, try to find someone to do maintenance. We also figure that we only have so much time left and don't want to 'stick it' to spouse, or other family members, to clean up the house if something happens to us. Downsize and rent while you're physically/mentally able.
Also, selling the house gives us years of rent money, especially adding in taxes and cost of maintenance. We get to use all that equity.
 

Liberty

Senior Member
Location
Texas
We own our own home and paid off our mortgage before taking early retirement, over ten years ago. We both plan to live in our home, either together or alone if one of us passes on, for as long as possible, preferably until we die. Can't tell the future, just hope for the best. The only time we rented was when we were young, before we married.
Ditto for us, Sea...hub built this big joint, and having the privacy of the land its on makes it "priceless" to us. So fine to love where you live, isn't it!
 

Aunt Bea

Well-known Member
Location
Near Mount Pilot
I rent for many reasons.

Financially it is much cheaper than owning a similar-sized home in this area.

I also believe that it is safer for me to live in an apartment complex and blend in with the herd than it would be to go it alone in a single-family house.

I suppose that we can all make a case in support of our individual choices and for me renting just feels right at this point in my life.
 
I own my now mortgage free home; however, there are times when I seriously consider renting an apartment and not having to worry about maintenance, etc. I've looked off and on for a couple of years not, but rents have gone up so much here that it really isn't financially feasible for me right now. Also, I'd have to find a rental that would allow me to have a good sized dog because I can't imagine living without a doggie companion.
 

Liberty

Senior Member
Location
Texas
I rent for many reasons.

Financially it is much cheaper than owning a similar-sized home in this area.

I also believe that it is safer for me to live in an apartment complex and blend in with the herd than it would be to go it alone in a single-family house.

I suppose that we can all make a case in support of our individual choices and for me renting just feels right at this point in my life.
Yep, its what feels best for each of us at the given time, huh!
 

Liberty

Senior Member
Location
Texas
I own my now mortgage free home; however, there are times when I seriously consider renting an apartment and not having to worry about maintenance, etc. I've looked off and on for a couple of years not, but rents have gone up so much here that it really isn't financially feasible for me right now. Also, I'd have to find a rental that would allow me to have a good sized dog because I can't imagine living without a doggie companion.
Butterfly, thinking that probably every single woman feels that way about living solo in a house. Like momma used to say "daugher, everthing in life has pro's and con's." Just what suit of clothes fits you best overall, huh.
 

old medic

Member
Location
Western NC
We own both our homes free and clear. My brother has lived in the one 15 years before we bought it 3 years ago, and continues to rent it from us...
But we doubled his rent.... $100 a month but pay the power...LOL.. he also does alot around here.
The other is next door and totally remodeling it into our retirement home.
 

Leann

Member
I find myself thinking about this very topic quite often. I have a sweet little house that I own in a lovely rural area and I'm happy here. However, there will come a point when I may have to move because advancing age, declining finances and limited mobility will converge and an apartment or senior residential community will be the better option. I'm not to that point yet but it's on the horizon.
 


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