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How long have you been living in your house, rented or mortgaged, which is better?

I lived with my mom in the countryside most of my life
because she had stroke and a widow
when she passed away, I sold the house
then rented in the city for work
until now....
I was planning to get a mortgage before the pandemic
things were chaotic so it was shelved
now, mortgage shoots up double
ugh!
helenS · 36-40, F
I've been living in my house all my life, apart from 6 years when I was a university student. I was born in this house, my children were born here, and with some luck I will die here. It's always been here, it's an old house, no living person has witnessed its construction.
helenS · 36-40, F
@1DrinkMargarita Yes, the roof, a couple of years ago. I was already on SW, I think I posted something about my leaking roof. We still have no central heating, just an open fire and a stove.
@helenS comfortable enough for the family
great!
helenS · 36-40, F
@1DrinkMargarita "Our house is a very, very, very fine house
With two cats in the yard..."
Jenny1234 · 51-55, F
For me it’s much better to own. I have on the home I am in since 2016 and before that I owned another home I lived in for many years
samueltyler2 · 80-89, M
@Jenny1234 that works for many, and, you develop equity, but, a home can become a money pit as well.
Jenny1234 · 51-55, F
@samueltyler2 I sold my last home for double what I paid for it and was able to have a really good down payment on the house I’m in now
samueltyler2 · 80-89, M
@Jenny1234 we sold our condo for or more than twice as well, after 30 years, but had put in money into a new bathroom, renovated kitchen and basement, and bigger deck.
revenant · F
I had a house but after the divorce I am planning to buy again.....somewhere fairly cheap in comparison though
@revenant good luck on house hunting
I'm on it too 😉
revenant · F
@1DrinkMargarita good luck to you. Times are hard and mortgages out of this world
@revenant yeah (sigh)
Roadsterrider · 56-60, M
If you own, after it is paid off, there is only upkeep. If you rent, it is an expense for life. I have owned several homes, some have been good investments, some have been complete bombs. I own a piece of property I intend to retire on and build a log cabin. It will be free and clear, utilities, upkeep and taxes will be my only expenses. The local market will let you know if you can likely make a profit if you move away for work. Personally, I want as few bills as I can have when I retire.
Ontheroad · M
About three years... when the big C hit me I sold my big home and started renting this smaller house. I've found renting to be convenient because I don't have to worry about dealing with things that wear out, etc. I also have a great and really responsive landlord... that is often they dey. A great landlord makes renting a pleasure.
@Ontheroad my landlord doesn't care, only the money
if I ask if they know a plumber, "none, find someone."
I never saw them since the pandemic, I just do money transfer
been here for 8 years
Ontheroad · M
@1DrinkMargarita sorry to hear that. My landlord calls about 3-4 times a year to just say hi and see if I need anything. I don't get rent increases every year, he has a yard crew that comes by 2-4 times a month depending upon the season and keeps the yard looking good. I don't bug him about small things (replacing a cartridge in a faucet, changing air filters in the HVAC system, etc. He is a local guy and has a few homes he rents and keeps all of them in tip-top shape.
@Ontheroad that's great,
someone could be so lucky!
robb65 · 56-60, M
Thirty something years. I bought a house on four or five acres '88 or '89, it's been paid off for several years now
robb65 · 56-60, M
@helenS Thanks. I just had dressing made from corn grown there that I ground into meal. First year I've managed to do that.
helenS · 36-40, F
@robb65 I have two walnut trees behind my house! In my basement there are more than 50 pounds of walnuts which hopefully will get me through winter.
@robb65 impressive!
TexChik · F
We have lived In our current house for 18 years. My husband built it and he was my first everything and our kids have grown up in it. Its home. The farm house was remodeled and added on to about 15 years ago. We holiday out here. We own both homes outright.
WillaKissing · 56-60, T
Mortgages are rising with the interest rates rising, but the home prices are coming back down too. o, it is a double-edged sword, either pay an outrageous price for a home with a low interest rate or pay the same for the same house with a lower purchase price but with a higher interest rate. Damned if you do and Damned if you don't.

I have lived on my current farm/farmhouse since May12th, 2012 when I bought it. Back then low purchase price but a 5% variable interest rate I refinanced two years ago to a lower rate. Like a I said damned if you do and damned if you don't.
@WillaKissing well, you're braver than me!
impressive
WillaKissing · 56-60, T
@1DrinkMargarita Thank you. Timing is everything when it comes to real estate purchasing, good luck.
We recently sold the house we were living in for 10 years. We just bought a new one this month. I hope to stay here for a long time.
TexChik · F
@CookieCrumbs downsize , up size ?
exexec · 61-69, C
We built this house 23 years ago and paid off the mortgage in 15 years. Mortgage rates were around 7%, down from 10% or higher around 1990. I'm sorry people are having problems finding affordable housing.
@exexec yeah, hard times
covid.inflation.war
8 years. Sorry to know that rates are getting higher..trust me it will be more expensive later on.
@1DrinkMargarita That's a great thing. You can still plan to buy a home or build one.
@littlepuppywantanewlife let the fate decide 😂
@1DrinkMargarita but still try to saving factors. I wish you invested those money that time. You could have earned great returns
Eddiesolds · 56-60, M
8 yearsin this one. Id rather buy one rather than rent.
Eddiesolds · 56-60, M
@1DrinkMargarita I hope youre paying low rent.
@Eddiesolds fairly okay, affordable
I'm not really in the big city but 30 minutes away
Eddiesolds · 56-60, M
@1DrinkMargarita It sounds wonderful there. Dont move! Lol
plasticpants02 · 61-69, M
Everyone is complaining about high interest rates. It was 18% when we bought are house. When it got down to 11% i thought i was in heaven. Been here over 35 yrs
dancingtongue · 80-89, M
@plasticpants02 It was 7 1/4% when I bought my first and the interest rate fell to 7 1/8% the next day. I thought I had screwed myself. Interest rates were double digit by the end of the year.
plasticpants02 · 61-69, M
@dancingtongue isn’t that always the way
Fairydust · F
I’ve lived here 21 years, it’s bought and paid off now. I thought I’d be moving but with the divorce I’m keeping the house, so I’m busy changing it all.
@Fairydust You don't want to leave the witness of your family struggles,
I feel you...
I like decorating too and changing things
It's a good stress-reliever
Fairydust · F
@1DrinkMargarita yeah I’m enjoying changing it. Looks much better, still lots to do. 🪚🔨
Miklee02 · 51-55, F
I will own my house in less than 5 years
Bought it brand new over 25 years ago
@Miklee02 yeah, I love brand new
I spotted this house when it was newly built
Miklee02 · 51-55, F
@1DrinkMargarita yeah our house being built and we bought it in time to pick out everything…. Lighting flooring fixtures…. Was perfect!! Is perfect!! 🤓❤️
@Miklee02 I'm happy for you!💞
Magenta · F
About 18 years. We built it new but we own it now. No mortgage, thankfully.

Hope you find something affordable.
@Magenta I bet it's a great house!

hoping too!
Sorry for the news about Her. Those blessings are very much needed wherever one sleeps.
I've lived here 21 years. My mortgage is manageable and much less than I started with.😁
lipstickguy · 61-69, M
family home..... 54 yrs and no mortgage
@lipstickguy how about a bit of renovation every now and then?
lipstickguy · 61-69, M
@1DrinkMargarita kept up to date, they paid $ 16,500.00 in 1968 and comperable home in this part of los angeles are selling for over $ 1,000,000.00 now so....
dancingtongue · 80-89, M
Going on 19 years. 38 years for the prior one.
samueltyler2 · 80-89, M
We moved into an apartment in Aug 2021, after living in our condo for almost 30 years, prior to that 20 years in 2 different homes.
samueltyler2 · 80-89, M
@1DrinkMargarita yes, but if you factor in the upkeep costs, the cost difference between insurance, etc of owning and rental, and the amount we paid for interest on mortgages and real estate tax, and the income we would have made investing to lose funds, the earnings are less apparent. The difference is in the fact that the rent on our current apartment will go up a lot next year, the cost if we still owned the condo would be stable.
@samueltyler2 sorry to hear about that.
my rent never increased for 8 years.
samueltyler2 · 80-89, M
@1DrinkMargarita thanks to COVID and the global inflation, the initial rate increases in our apartment house is 20%! We are holding out, one of our neighbors waited until the last minute and got a 13 month lease at a 7% increase. It is usary!
smiler2012 · 56-60, M
{@1drinkmargarita] we have been in our present house for fifty five years since 1967 we have always rented
@smiler2012 sorry to hear that,
my mom in 2013
smiler2012 · 56-60, M
@1DrinkMargarita again i am sorry you mam passed 😣
@smiler2012 it's okay, she's already 75 when that happened
we all go there...
MellyMel22 · F
[i][c=BF0080]I’ve been living here almost 24 years. [/c][/i]
jackson55 · M
Current house almost 3 years. Yes, I own it.
tk9999 · 41-45, M
12 years.

Mortgage is paid off now.
@antonioioio great memories there!
antonioioio · 61-69, M
@1DrinkMargarita They certainly are
Camping is better.
@Roundandroundwego I bet so
everywhere & anywhere 😉
iamonfire696 · 36-40, F
I am sorry about your mom.

I have been in my house for 16 years.
iamonfire696 · 36-40, F
@1DrinkMargarita I am just happy my house suits my needs and don’t have to find something bigger with housing prices.
@iamonfire696 that's great!
iamonfire696 · 36-40, F

 
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