Quote:
Originally Posted by Steely Dan
to me, the true benefits of home ownership transcend investment potential.
stability: as long as i live up to my end of the bargain with the mortgage payments, no one can kick my family out of our home. as our neighborhood continues to get wealthier, no landlord can ever jack the rent on us and force us to move out of our community. the value of that peace of mind is immeasurable when you're raising a family, IMO.
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pride: because i own it, i take much greater care with my home than i ever did with any of the rental properties that i lived in when i was younger. not that i was some savage who destroyed other people's properties, but when something is yours, you simply care more about it.
customization: because my home is mine, if i want to make changes to improve it or otherwise better suit my needs/desires, i don't have to seek the approval of some landlord who may not be on board with my plans. if i wanna redo a bathroom, boom, i redo a bathroom. i'm not at anyone else's mercy.
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I think this is very important. The act of raising a family changes the dynamics to a whole new level. Its also where things like bills and costs go through the roof, hence why folks leave high priced cities or high priced neighboorhoods for affordability.
Single folks, have the world by the balls assuming they have an okay job. They can take the loss and rent, but with a family, now you have... depending on how many kids, 3...4...5+ mouths to feed, the dreaded DAYCARE COSTS, after school care, clothing, and all of this other bs one has to pay as to not end up in jail because until they are 18, yah can go to jail for poor management of kids.
AND this is assuming one doesn't have a wife who includes nails and hair into the monthly budget or a husband who buys useless stuff or has a spending problem.
Now for some folks that make great money, with a wife or husband who also has a poppin' career or job or income stream, this may not apply, and they can dish out $6k a month on a nice Manhattan apartment, but FOR THE MAJORITY, expenses matter.
So the lesson to be learned today kids is that if you have kids, expect a life style change. And in a big way! Or... one can continue to excel in a career, just date around, and not have kids, and be stress free. That is up to the person.
On a side note, may lead to the side effect of putting strain on ones career (for some, it does). A lot of stuff occurs when folks have kids. Probably much more than just getting married.