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What are YOUR reasons for wanting to buy?


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2011 Sep 16, 3:35am   22,793 views  75 comments

by bmwman91   ➕follow (5)   💰tip   ignore  

Obviously, anyone posting in here has some amount of interest in real estate, and that interest is probably centered around buying & owning it. There are a myriad of reasons for this, and everyone has their own. So, what drives your compulsion to buy? I suppose that this could somehow turn into a debate with people tearing up others' reasons, but the intent at this moment is to just try to get a feel for what motivates people with an above-average interest in it. I say above average because I figure that the average buyer does their "research & learning" by being told things by their RE agent, rather than spending lots of time reading on sites like this.

For me, my reasons for wanting a SFH & worrying (probably too much) about it are, in no particular order:
1 - Garage as a workshop for a)loudspeaker building & b) woodworking
2 - Garage for car projects
3 - No attached walls...for making proper use of reason 1a. A 150lb subwoofer that hits -3dB at 12Hz is what some family members have nicknamed "the lease-breaker."
4 - A yard & long-term residence for pets (cats, probably).
5 - A yard & long-term residence for kids (GOD HELP ME IF I CHOOSE THIS SOMEDAY!).

So, what kind of RE do you want to buy / have you bought, and why? If you happen to be an audio geek, you are required to identify yourself!

#housing

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19   Austinhousingbubble   2011 Sep 16, 7:25pm  

I personally never cared about houses until 2001, at which time, my longtime landlady (started renting from her at 18) lost her mind and started doing really weird shit...long story.

It was a great place while it lasted -- a large brick prewar flat above an old florist shop across from a 7-11 (yeah!). After 5pm weekdays, I could crank up the hi-fi and engage in all manner of clang and clamor I fancied until 7AM the following morning. Weekends were all mine. It was a blissful environment for subsistence and I got a lot of good work done in that building. In all those years I honestly never ever thought of buying a house. Whenever someone occasionally suggested it, I all but recoiled. It seemed pedestrian -- the first step toward Dullsville. When I left my building for the last time, I kissed the walls.

It wasn't until I had to start shopping around for other more compromising rentals that I thought about actually buying. Mostly, I no longer wanted to have my living situation subject to the increasingly strange and sudden whims of another human being.

Sadly, my wife and I had the cruel misfortune of having our careers and salaries hit stride just as the bubble started inflating -- so much so that it seemed like the growth in housing costs each year were pegged to the growth of our combined remuneration and savings power. It was very bizarre and frustrating, as this was before I had even the vaguest understanding of asset speculation or credit bubbles. Long story less long: I held off buying, despite the behest and tortured math of friends and colleagues because it just didn't make sense to me at all. The whole mania surrounding housing really grossed me out. It felt like Amway or something.

Anyway, the things I want from a place are the same today as they were way back then, and that is basic control over my domicile. I need a space where I know I won't show up from work one day and discover a work crew bricking in a window. I also fancy the stability a permanent residence allows for starting large involved projects. Among other things, I like restoring old musical instruments and fucking around with old cars (another commenter mentioned having an old '55; I had a '55 Ford Victoria up until three years ago) and it doesn't really do to have an eviscerated automobile in the garage when your living arrangements are one rent hike away from being upended. I've been lucky, but I don't like to bank on luck.

Finally, the look and feel of a place is important. You realize this most when you come back to a place from a trip; if you don't feel glad to see it as the stinky taxi cab pulls up out front, then it's probably not a very energizing environment -- which means it's probably not an environment which helps your gears turn or puts you in the right mood to do whatever it is you like to do. I've lived in some hovels where I didn't even want to listen to certain albums. Sorry if that sounds like NAR claptrap, but yeah, atmosphere is important.

So, yeah. All that.

20   SJ   2011 Sep 17, 1:27am  

For me, owning a home for many reasons:

1- garage and yard for projects, keeping new cars safe and clean
2- privacy
3- tax benefits
4- more quiet than apartment
5- more space

21   bubblesitter   2011 Sep 17, 5:20am  

SJ says

For me, owning a home for many reasons:

1- garage and yard for projects, keeping new cars safe and clean

2- privacy

3- tax benefits

4- more quiet than apartment

5- more space

Can you do those while renting a house instead of buying the same?

22   EastCoastBubbleBoy   2011 Sep 17, 10:39am  

1) More living space - A 1200 ft2 apartment with attic and no garage. it gets crowded quick when you have kids (and all the stuff that comes with them). Plus an extra bedroom would be nice.

2) Land (a want, more than a need) so I can do what I want. Tell the kids to run around out back and not have to worry (as much) about them. Grow a garden Gabey. Have a place to hang out and entertain guests. I can't explain why - but I've always wanted a nice big chunk of land to call my own.

That's really it. Sure I could rent a house, but most of the ones in my area are people trying to cover their ridiculous holding costs, so buying wouldn't cost that much more than renting an equivalent space.

That said, buying will more than double my current monthly outlay, but of course, if I were to buy, I'd have twice the space.

I'm closer to buying - but its still darn hard to pull the trigger. When your committing that much cash, time and effort, you want it to be as close to "perfect" as possible. A "starter" home does not make economic sense in my market. When I do buy, it's going to be a place I'm in for the long haul.

23   Sprezzatura   2011 Sep 17, 10:52am  

I've hit the point where I want to buy. Mostly because the majority of rental housing stock is not all that nice, and I'm getting tired of low-end kitchen appliances, cheap carpets, thin walls, and no ability to change anything.

Most recently I tried renting a condo unit and it's been a cut above the standard rental housing, but now the owner wants to sell the place (asking price is way over what I am able to pay, sadly).

So rather than go through it all over again I am looking very seriously at buying. I'm sick of not having control over where I live.

24   Truthplease   2011 Sep 17, 11:10am  

I only bought because I moved from San Diego to a rural part of North Carolina. I couldn't believe how cheap it was out here and plenty of land. I have a garden and a nice house that has a cheap price. Rents are higher than my mortgage. If a big collapse happens, the house is cheap so I fall at a lower rate. My primary driver for buying was rents. It was break even when I did my calculations from Patrick's website.

25   toothfairy   2011 Sep 17, 4:21pm  

my first house was bought because i couldnt stand being able to hear neighbors through the walls the apartment.
and every time a new neighbor moved in it was a crapshoot as to how their lifestyle would impact me.

yes you can rent a house but living in somebody elses house you can never get too comfortable.

For example Im remodeling my laundry room/work shop and im thinking of install some of those nice husky tool cabinets like these here
http://www.homedepot.com/h_d1/N-5yc1v/R-202600938/h_d2/ProductDisplay?langId=-1&storeId=10051&catalogId=10053

Its hard to do nice stuff like this when your renting youre kind of forced to live with the hand your dealt.

26   alpo   2011 Sep 17, 6:04pm  

By the time we could afford a desirable SFH, I had got completely sick of the whole apartment renting environment: dealing with management, apartment complexes with transient crowds, rent increases, apartment hunting every few years, parking problems, etc.

Sure I could have rented a SFH, but then to me renting a SFH for around $3,200 per month seemed like a stupid idea since that is more or less what our mortgage turned out to be after 20% down.

We didn't want to move into a condo or a town home (too crowded like the apartment complexes that we lived in) and made sure that the SFH we bought was not part of any HOA and did not have any back neighbors.

Now I have complete freedom to plant stuff in front and back yards and gradually customize the house exactly as I want it (something that would never be possible in a rental).

Best of all, I like the added security that comes out of living in your own home and knowing that someday I will own this place free and clear. I also like the freedom of being able to do anything that I damn well (legally) please on my own property.

My current retirement plan includes owning two SFH free and clear: one that I would live in and the other that I would rent for income rather than relying on 401k plans and wall street ups and downs.

27   kc6zlv   2011 Sep 17, 8:20pm  

Gardening - I choose places to rent based on the ability to garden. Most landlords don't care. The ones who don't maintain the landscaping love having a gardener as a tenant. The problem is other tenants. There are those that are inspired by my gardening then insist I'm being selfish by taking up the whole property to garden. Then there are those who think my garden the cause of everything sinus issue they have. Lastly, there are the obnoxious extroverts who start removing plants because they want the extra space to hold beer parties.

Garage and workspace.

I like to play music a little loud. With one exception, nobody has complained about the volume. For some reason everyone who moves in next to me listens to raunchy metal and hates everything else. I hate metal.

My experience has been I usually have to fix things anyway and the most I get in return is the amount I paid for whatever needed to be replaced while the landlord gets $200+ worth in free labor for the repairs. So I figure I might as well buy a fixer-upper for cheap.

I don't want to have to see and say hi to my neighbours every time I come and go.

I won't have to live six feet from a drama queen with herd of undisciplined kids who gets in a fight her boyfriend three times a day.

28   Done!   2011 Sep 17, 11:31pm  

When I bought my mantra was, "I want the MOST house for the LEAST money".

I wanted at least a 1/4 acre lot,
at least 2K sqft house,
3 brs,
an extra room with a door, not meant to be a LR, Florida Room, Dinning room or Den. That I could use for a slash Office/Studio/Man Cave.

Also wanted a house that had a MIL quarters, or detachable unit, or at least an efficiency on the property.
If I'll be paying a mortgage until I'm 70, I might need some extra help in the form of renting that extra space out, at some point.

That's what I wanted(got), and I had a million reasons for it.

29   Anselm   2011 Sep 21, 1:11am  

I want to buy because

1) Permanent place to restore cars
2) Can change the property to suit my taste
3) Buying in the area I am looking at is cheaper than renting equivalent property
4) Are I am looking at has strong rental market and the home I buy will be able to do double duty as a rental property if I decide to move.
5) Hard to find what I am looking for in a rental
6) Won't have to hassle with a landlord
7) If you are financing a house interest rates are so low that factoring in a 20% further drop in prices with a rise interest rates makes buying now or later a wash

30   bubblesburst   2011 Sep 21, 2:49am  

Buying a house doesn't automatically mean you have to have debt. Expenses..sure. Property taxes, maintenance, etc. But some of us paid cash for our houses or have them completely paid off. I actually own many properties that I rent out and they are all paid off with no mortgages. Buying them was the best decision I ever made because the income they are spinning off is great, especially now that CD's are paying almost nothing.

Renters have continual expenses renting forever so it's not like renters don't have ongoing expenses as well. Plus they will never own renting something. Hey, renting is ok but the fact remains, many people that rent, don't really save up the extra savings vs. owning. It's not like many stash all their savings from renting vs. buying. Many blow their cash and then when they are 60 or 70 and renting all their lives....and don't own anything and don't know where rental prices will be. It's a major bummer. One of the biggest advantages to me is knowing what your fixed cost will be if you have a mortgage and especially retiring and having a place you own without worrying about where you will live. You can then decide if you want to sell and then go rent but at least you will be retired and own the property.

I'm not trying to push buying vs. renting because I rented for many years. But I think everyone has to look at their personal situation carefully and see if buying makes sense for them.

I rented for many years while I was single. I owned a house many years ago before the bubble but sold it during the bubble and then waited on the sidelines many years. Having kids really pushed my motivation to get back in as an owner of a house.

Some of the reasons were stability for the kids. We knew we would be here for the long haul and bought in a great school district and community. We didn't want to move around in rentals which sometimes you can't control. Stability was a big part of that. Also, wife likes gardening and we also wanted to customize the house exactly how we wanted it with the bathrooms we like, hardwood flooring we like, etc.

Buying can make sense for many people. Rents are also very high in good neighborhoods of San Diego in bigger houses (5 bedrooms/ 5 bathrooms). So financially it works out in the long-run as well buying vs. renting.

I do get the arguments from many of you not to own but just as I think many unrealistic owners of houses were permabulls during the bubble, I think many of you are permabears during this housing mess. Prices aren't going to fall forever. Things run in cycles.

31   Shawn   2011 Sep 21, 3:18am  

I'd like to buy because I'd like to have a home I own flat out by the time I retire. There are a lot of other smaller factors like garage/home theater/game room/etc but like others have said, I realize I can have these just as easily buy choosing to rent a bigger place.

32   Future Cash Buyer   2011 Sep 21, 1:31pm  

throwing away money because I don't like money

33   ryan7013   2011 Sep 21, 11:28pm  

Future cash...so you paid for your home in cash? I would say rent is throwing away money.

34   DoctorRenter   2011 Sep 22, 12:55am  

My wife and I are getting ready to close on a house purchase in Lamorinda (SF East Bay). I'm a long-time Patrick reader, but after having problems with our second straight landlord--this time, health threatening pest problems not being fixed in a timely manner--and with two young children, one starting Kindergarten and the other starting preschool in the near future, we wanted to stay in the same small community and decided to take the plunge.

We found a reasonably priced probate sale that needs some work (helping us limit crazy, Prop 13-inflated taxes). Financially, we will probably take a loss over time, since it probably will remain cheaper to rent since I believe prices are likely to drop further. Since housing is really an amenity, we see it as an upgrade like paying more to buy a nicer, newer car.

I'll admit that the federal mortgage limits dropping to 625K was an incentive for us, even though I expect prices to drop with this limit change. After many years in grad school, I now have a healthy income but little downpayment saved. Putting 10% down now on a non-jumbo mortgage gets us into a market which we wouldn't be able to enter for a few years once 20% down (plus reserves) is needed for what will soon be defined as a jumbo mortgage.
With my higher income, the tax benefits dampen the loss if prices drop substantially.

35   Katy Perry   2011 Sep 22, 1:41am  

Wants and needs,..wants and needs.

" Why do we Buy stuff we don't need? with money we don't have. to impress friends we don't really like." -

Ego's a Bitch. Debt is slavery!

36   Shawn   2011 Sep 22, 2:17am  

Katy Perry says

Ego's a Bitch. Debt is slavery!

Debt is temporary, so long as you know how to manage it.

Ego is slavery. Keeping up with the Joneses creates lifetime indebtedness in pursuit of a life style not afforded.

37   FuckTheMainstreamMedia   2011 Sep 22, 2:21am  

The people having problems with landlords and rental issues like noise and stuff....its not renting that is the issue. It's the property. Bad rental situation isn't any reasonable impetus to buy. Motivation to move? Yes. Buy? No.

You can move to a better rental and not have those issues. For instance, the building I live in has very thick solid walls. Literally the only noise ever comes from the hallway only. I can't hear either of my neighbors. I blast my tv and music and they can't hear me either(I've asked).

I suspect its largely an issue of cheaping out on the rental. I have co-workers who make more than I do, yet live in a cheaper apartment nearby in DTLA. They have smell issues, infestation issues, plumbing issues, etc. It's because they cheaped out. They could afford 2-3x what they are paying in rent...easily into the 2500/mo range at least, which gets pretty nice digs...even too much really unless one person needs 1400 sq ft. But instead they cheaped out cause they don't want to "throw too much money away on rent". And thus they live in crap conditions. And then I supose use it as self rationalization to decide to purchase.

Makes no sense to me.

38   FuckTheMainstreamMedia   2011 Sep 22, 2:23am  

Shawn says

Katy Perry says

Ego's a Bitch. Debt is slavery!

Debt is temporary, so long as you know how to manage it.

Ego is slavery. Keeping up with the Joneses creates lifetime indebtedness in pursuit of a life style not afforded.

Eh, not so much. I'm pretty sure that the vast majority of mortgages are 30 years, and thats anything but temporary. In a declining market most of these mortgage holders can't sell, hence Katy Perry's comments about debt being slavery.

39   Shawn   2011 Sep 22, 2:38am  

dodgerfanjohn says

Shawn says



Katy Perry says



Ego's a Bitch. Debt is slavery!


Debt is temporary, so long as you know how to manage it.


Ego is slavery. Keeping up with the Joneses creates lifetime indebtedness in pursuit of a life style not afforded.


Eh, not so much. I'm pretty sure that the vast majority of mortgages are 30 years, and thats anything but temporary. In a declining market most of these mortgage holders can't sell, hence Katy Perry's comments about debt being slavery.

It's temporary in the sense that you get to choose how long you want to commit. Nobody says you have to take a 30 year mortage, you could buy smaller and take 15 years. You can also walk away when ever you want.

If you convince yourself that you have to borrow the maximum to have the biggest house and the nicest car, or that it's imoral to walk away from such contracts when they are no longer favorable, the servitude your indebted to isn't the bank. It's yourself.

40   bubblesitter   2011 Sep 22, 3:07am  

Seriously! Why would I get a 100K mortgage if the value goes down to 90K the next year. Positive cash flow on an investment property? Misnomer! Try subtracting the value going down from the positive cash flow and wait don't forget to count what that 10K would turn into in 30 years in any other investments.

41   tatupu70   2011 Sep 22, 3:14am  

bubblesitter says

Why would I get a 100K mortgage if the value goes down to 90K the next year.

Mostly because you don't KNOW that it will go down 10% in the next year.

If that's what you think will happen, then wait a year.

42   tjjenkins   2011 Sep 22, 3:58am  

I think I might be motivated to buy by my fear of inflation. I think we may see rates of inflation in the 4-5% range, so borrowing money makes somse sense, all other things being equal.

43   immigrant   2011 Sep 22, 4:34am  

bubblesitter says

Seriously! Why would I get a 100K mortgage if the value goes down to 90K the next year. Positive cash flow on an investment property? Misnomer! Try subtracting the value going down from the positive cash flow and wait don't forget to count what that 10K would turn into in 30 years in any other investments.

What kind of investments? I understand the reasons why you believe housing will go down further, but wouldn't the same reasons affect the stock market too?

44   bubblesitter   2011 Sep 22, 5:33am  

immigrant says

What kind of investments? I understand the reasons why you believe housing will go down further, but wouldn't the same reasons affect the stock market too?

Simply put 3% returns on a 10 year CD and put the CD proceeds at the expiry on the next one and so on up to six times. There are plenty of mutual funds that guarantee 5% returns performance over a 10 year period. You can come up with your own if you think outside of a crappy wooden box!

45   Â¥   2011 Sep 22, 5:49am  

bubblesitter says

There are plenty of mutual funds that guarantee 5% returns performance over a 10 year period

?

bubblesitter says

Simply put 3% returns on a 10 year CD

http://www.bankaholic.com/last-nationally-available-3-cd-is-gone/

46   bubblesitter   2011 Sep 22, 6:02am  

Bellingham Bob says

bubblesitter says

There are plenty of mutual funds that guarantee 5% returns performance over a 10 year period

?

bubblesitter says

Simply put 3% returns on a 10 year CD

http://www.bankaholic.com/last-nationally-available-3-cd-is-gone/

“Nessuna soluzione . . . nessun problema!„

Haha. I guess 10 year is gone.

47   edvard2   2011 Sep 22, 6:42am  

dodgerfanjohn says

The people having problems with landlords and rental issues like noise and stuff....its not renting that is the issue. It's the property. Bad rental situation isn't any reasonable impetus to buy. Motivation to move? Yes. Buy? No.

Totally, totally agree. As I mentioned before I basically rent exactly what it sounds like the OP wants, and what's more, I'm paying $1,200 for our share. Its a nice neighborhood with good neighbors. Sweet situation in any case.

48   dellman   2011 Sep 22, 7:10am  

My reasons

1) Desire to stay in a area/locality with access to good schools ( Yes. you can rent also but you need to be lucky to get a home with good/accommodating landlord )

2) would like little bit of freedom to choose flooring, choose energy efficient appliances, lifestyle

49   Katy Perry   2011 Sep 22, 9:17am  

I think y'all really meant to say.

1.Impress my friends and family.
2.Keeps my wife from running off with another loan owner Or keeps my man working and controlled doing fix it stuff for me.
3.My ego thinks I've really made something of myself
4 I like being a debt slave. it makes it easier to set my life's priorities which is to Work.

50   corntrollio   2011 Sep 22, 9:35am  

Katy Perry says

I think y'all really meant to say.

That's a little extreme, Katy. Look, I'm certainly sympathetic to your viewpoint, but it doesn't really help to engage in hyperbole.

In most markets, buying should be cheaper than renting over a reasonable period of time. Renting will often be cheaper than short-term buying (which is why the "starter home" concept is silly in many areas). If you're staying for a long time, it may make sense in most markets to buy.

In addition, engaging in consumption to buy when it's not cheaper than renting can make sense if you understand it's consumption.

What I don't understand are the "freedom" arguments, which are mostly questionable and based largely on personal neuroses.

There is little you can't do as a renter in reality assuming your landlord is not that asshole that you rented from in college -- you can paint, you can have a shop in your garage, you can buy appliances, you can plant stuff in planters, etc. During times in my life I have been a renter, it has been rare (or non-existent) that a landlord has not been accommodating on this stuff.

The so-called "freedom" that some people refer to is often really consumption or compromise. Many hobbyists believe they need some facility at their house, but in most cases, (a) this could be done as a renter, (b) it would be more efficient to do this outside of your home as bmwman does, and (c) assuming you're on a budget, you are generally hyperoptimizing for this one hobby while compromising on some other factor of your house (e.g. I'll accept a less than ideal ___ because I can have my workshop).

Even when I've been an owner, it has made sense not to think of my house as a Swiss army knife that can do everything because of point (c) above. There can be benefits to aggregation, and it can be cheaper to engage in some hobbies outside your house. At the same time, there can be must-haves -- e.g. I need a home office, but those are usually based on job-factors or family-factors, not hobbies.

Ultimately, it depends on the city you live in and a certain number of personal preferences. That's why I don't understand why either side gets so militant -- do you really need to defend your personal preferences so strongly?

51   Katy Perry   2011 Sep 22, 9:36am  

DoctorRenter says

My wife and I are getting ready to close on a house purchase in Lamorinda

Really! Are you really purchasing with 100 percent cash? I doubt it.
If not you're buying a loan. I hate how people mess with my grammar.
Remember the bank thinks they own something too. They own the house and they own you (their little worker bee.) At least the Va jay Jay is happy.
My landlady works for me BTW,.. and she knows it. It sucks for her but that's the facts.

Being a loan owner doesn't guarantee you a thing except debt today.
bugs don't care if you rent or own really they don't.

Also A victim mentality doesn't just stop once you borrow for a house. I think it gets worse actually Blame the bank, Blame the Agent, blame the other nieghbors, Blame the builder, blame the PO, Blame the city the state the nation,.................

52   Katy Perry   2011 Sep 22, 9:55am  

corntrollio says

Ultimately, it depends on the city you live in and a certain number of personal preferences. That's why I don't understand why either side gets so militant -- do you really need to defend personal preferences so strongly?

You do make a good point. I just call it like I see it. We can all agree that these are nutty times. Things are really out of whack and many of my friends and family have been hurt over the years by all of this.
some still don't really get it (like my parents).

I'll always defend renters and knock down all the lame reasons people need to borrow for a house. I'll always defend a real cash flow purchase though ( and a 100percent cash purchase.) But the ego driven mindless reasons to Borrow vs rent is such BS to me. I find it almost impossible not to comment. I mean this is Patrick.net! Maybe go to this blog if you want more support on borrowing for a house or being a debt slave.
http://piggington.coms/user_forum

53   Katy Perry   2011 Sep 22, 9:59am  

edvard2 says

dodgerfanjohn says

The people having problems with landlords and rental issues like noise and stuff....its not renting that is the issue. It's the property. Bad rental situation isn't any reasonable impetus to buy. Motivation to move? Yes. Buy? No.

Totally, totally agree. As I mentioned before I basically rent exactly what it sounds like the OP wants, and what's more, I'm paying $1,200 for our share. Its a nice neighborhood with good neighbors. Sweet situation in any case.

You know what's worse? A bad loan owning situation, or maybe realizing you don't own a thing but debt and liability.

54   toothfairy   2011 Sep 22, 10:33am  

there's nothing wrong with using a mortgage to purchase a home. Especially if you dont feel like tying up all of your cash.

renters who cry foul and say you dont really own anything either sound more like jealously to me.

55   EBGuy   2011 Sep 22, 12:26pm  

AM said: With a 10 or 15 yr mortgage, if I have the ability to service the debt in a meaningful fashion - then that debt is productive and helps me get to the future where I don't have to pay rent at all.
The ROI on a paid off home usually isn't that great. That's not to say paying off a mortgage is a bad thing as many folks benefit from a paid off home in retirement. It's a nice fixed return with home equity available in an emergency. But going for a shorter term on the mortgage basically says "I don't have the financial discipline to do anything better with my money than stuff it into the piggy bank which is my home". The truth of the matter is, though, most Americans probably fall in that category where they benefit from the forced savings account aspect of a mortgage.

56   Greg1867   2011 Sep 22, 1:53pm  

I never thought I would buy a home. This changed though on 9/8/11 when I closed on a very nice home about 10 miles north of Denver. I moved from San Jose, CA. When I lived in SJ I swore I would NEVER buy, at least not in that area, not in Calibubbleya. I barely make 6 figures so 3x that doesn't back Jack in that area. Renting sucked, I could of/should of moved, but the place I was at was nice and a in a good location downtown. What sucked about it was the constant influx of spoiled college students who didn't give a rats ass about quiet hours. Home from the bar at 2:30am on Wednesday morning, yep, time to crank the jams. Incompetent landlords too. Constantly giving out my parking space to new renters. As I said I could have/should have moved. Why didn't I? Every time I shopped around the rent prices made me sick. Luckily I qualified for a below market rate on my unit, so the cost was low for the area. LOL. Still makes me chuckle to think a six figure income earner was getting subsidized housing, but that's California for ya.

One day I thought "What if I could take my Cali salary out of Cali?" Hmm... I was being groomed for management and my team was being built on the other side of the world (Pune, India). I approached my boss with this and he talked to his boss and the verdict was "Live where you want, your team is remote anyway".

BOOM SHAKA LAKA!

My reasons for wanting to buy are many, mostly inline with what's been post already. It puts a smile on my face watching my little girl play in the backyard. Watching my wife in her kitchen. Hanging in my basement, playing my guitar louder then ever possible in my old apartment. I may be a slave to debt as Ms. Perry says, but I've never been happier. I am fully expecting the value of this place to drop below what I paid. Am I going to cry and stop paying the mortgage, and whine, and then bitch about it? Nope. I'm going to live here for a very long time, pay this place off at least 10 years early (30 year mortgage here) and keep smiling.

If something beyond my control happens and I can't follow through with my plan, then I will take the memories of living here with me wherever I go.

If you rent all your life and then die, what do you have? Do you get a Patrick.net t-shirt for your corpse? LOL.

57   bubblesitter   2011 Sep 22, 1:59pm  

toothfairy says

sound more like jealously to me.

Well, NOT buying declining value property sounds like financially smart decision to me. Is that all you can come up with?

58   toothfairy   2011 Sep 22, 9:34pm  

bubblesitter says

toothfairy says

sound more like jealously to me.

Well, NOT buying declining value property sounds like financially smart decision to me. Is that all you can come up with?

well if you wanted a rising value property you shouldve bought in 2005

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