Re:Young Homebuyers Are Vanishing from the U.S.
by mythrwy on Friday November 08, 2019 @11:42AM
(#21483932)
Exactly. I own a home with a well and an acre. I don't spend my weekends out with friends anymore and the list of things to do is endless.
It's cool I can do what I want in some regards and have built some equity, but apartment living was so much easier. I honestly really miss it.
Renting out a home can be very lucrative for some people, but also a lot of work. Boiler breaks on Christmas? You have to fix that and quick. All issues go through you, if you get a management company then there goes your profits.
Nothing in live just goes up forever, that's wishful thinking. While you may lock in a fixed mortgage payment, you have maintenance and house expenses. Houses get expensive fast. Anything that breaks, needs replacing, or you decide to fill because of lifestyle creep can cost a lot of money. Your weekends can quickly go from doing activities for yourself or your career to doing house work consistently.
Owning a home can be a really great idea and even a good investment, but that's no where near guaranteed and each person should look into there own situation.