|Perhaps we have overrated roots as a psychic need. Maybe the greater urge, the deeper and more ancient is the need, the will, the hunger to be somewhere else. —Steinbeck|
|Someone's castle in Green River, Wyoming|
I've owned three very nice houses (with the bank), and I do understand the arguments for owning, but lets look at this list of what something takes to be a really bad investment:
|Cassie pondering the silliness of missing a dog house.|
One way to stay away from trouble is to not make enough money for a bank to finance any such shenanigans, but it's getting easier and easier to find people who will do an owner carry.
|Weezee thinking of all the bones she could stash away if we'd only stay put in one place.|
In fact, I found a nice little modular on its own pretty lot in Smalltown, Utah, and the owner has said he would do an owner carry.
I'm very tempted, as it's only $42,000 (the price of a car these days) and it's in very good shape, but then what would I do?
|Fall is in the air in the Colorado high country.|
I'd have a yard to care for and a house that needs maintenance, and all those things that keep you from running away from home when you want to. And even if you do manage to get away, it's always there in the back of your mind, wondering if everything's OK, even if you have someone looking out for it.
So, when I get tempted, I just read the above list and breathe a sigh of relief, knowing I'll make it through the winter just fine, camping where it's warm or renting someone else's house, where I can leave when I want to.
|Not all roads lead home.|
That's the real meaning of security to me, not getting tied down and having to pay for something you no longer want and can't sell and being stuck. And if you run the numbers, it's actually cheaper to rent in most cases. Don't believe me? Read this.
|It might be cheaper and make more sense to own an airplane.|
There may be times when owning is good, but they're minor compared to the list of reasons not to.
People forget to add in all the interest payments, insurance costs, maintenance, taxes, and transaction fees when figuring out how much they made and just look at what they sold it for compared to what they paid. And even after your house is paid for, you still have lots of recurring expenses (new roof, taxes, etc.). And don't forget the numberless hours you spend taking care of it.
I've decided homeownership is for the birds, and even they leave the nest every year and fly away.