What's it like being a home owner?

We all know that the cost of living is rising, pay is not, for the most part.

I worry about the increasing price of rent, especially while being single.

I'm wondering if I should start planning on buying a "fixer -upper" in the next few years since a monthly mortgage payment is cheaper than apartment rent.

I understand I'd have to get everything that breaks down, fixed in a house.

I'd have to pay property tax, and higher bills.

Any thoughts or advice?

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SW-User

I think it's worth it, but it isn't for everyone, just as some don't care for apartment style living. A fixer upper is tempting and can be a lot of fun, if you are really into restoring and redecorating. On the other hand, If you aren't handy, it could end up being more time, trouble and expense than it's worth to you.

A lower cost alternative to a fixer upper is a house located further from work -- houses in "bedroom communities" or out in the country are frequently less expensive than those located where the jobs are. Yet another lower cost option is an older, less fashionable house that's been reasonably well maintained. They sell for much, much less than new or newer houses.