Rent vs. Buy
posted in apartment, home, real estate, zen |I’ve read a number of articles and posts talking about how it is cheaper to rent your living space instead of buying a house. It’s all about maximizing your returns, and where you can earn more money in that alloted time (because stats don’t lie, right?)
With that in mind - I’m going to take a different approach. Put your heart into this decision and decide - do you want to make extra cash, or do you want a home you can be happy in?
It’s a delicate balance! Happiness in renting, or happiness in home-owning?
The Real Estate Journal reinforced my thoughts on the issue - they discuss home improvements and whether they really add value - basically, recognizing your bad investment for being exactly what it is - making you happy, with a possibility of a cost (or loss).
In other words, do you temper your desire for what you want your home to be, because what you want may temper a future buyer’s enthusiasm? Or, do you disregard the future to enjoy the present?
Basically, as the article states: Your style is their disaster.
Just think when you are house hunting (or apartment hunting), and even when you hang out with friends. What goes through your mind? Probably something along the lines of “I like their style, this is cool” or…
“What in the WORLD were they THINKING?”
You may think Greco-Roman is in this year. Maybe a little Asian Zing. You drop a lot of money to get a style into your home, either with decor or by remodeling. But you’re doing it for YOU - not for resale, unless you are keeping it as basic and simple as possible. It’s important to remember:
“I want our house to fit our style while we’re here,” my friend says, “but unless I plan to die here, I want to recoup as much money as possible from a remodel.”
That’s it - it’s realizing how long you’re going to live in your house - spend money to make yourself happy in it - and it especially makes sense if you think it’s the house you’re going to grow with your family in.
As for my future home? I plan on making a couple improvements, maybe a remodel here or there - but basic. Making it less dated, a little more roomy and functional - but I won’t be installing the Kitchen of my dreams until we’re settling and in the area when intend to live and grow for the rest of our lives.
