[size=117]* To Buy Or To Rent A Home, That Is The Question *[/size]
Alternative Titles :
* The Road To Home Ownership Is A Form Of Slavery *
* To Rob A Bank, In Order To Finance The Purchase Of A Home Is Morally Acceptable *
Note: - My opinions on this matter are somewhat
clouded by the fact that, in Ireland the average house
price is now @400,000 Euros [510,000 US-Dollars].
‘Forty Year Mortgages’ are now quite common !!
I believe that I will be a - renter - for the rest
of my life and that, for me, this will lead to a
life of less stress.
… you know ur situation better than any of us, make the decision based on what would suit u best, to ask the question here and like thid is kinda stupid, we dont know every every aspect of ur incomings or finance and prefferences, likings dislikings… u should seek someone who gives professional financial advice or something like that.
i dont know if its an option but moving to England, Scotland or even America or watever ,if the price/size/quality of ur home matters to you that much, like i said u know yourself better than any of us so make the decision youreself but if u want help here u may want to ask more specific questions to aid to in ur decision, still i’d recomend someone who does it professionally since its not a topic that would really be put under philosophy… well it is if u consider “this will lead to a life of stress am i right ? ur thoughts…” but like ive said repetedly, u know yourself better than we do…
dont take offense to me saying it was stupid of u to ask this, stupid is a word i use very loosely and very often amother thing, ur not a philosopher if u didnt already know also my spelling is bad i know :-L
" Welome to the boards Oni Omega " - I believe this is the correct thing to say.
I think ‘home ownership’ is a very loaded topic… I could have put it anywhere really.
[ Note to mods : - If you want to move it, that’s cool. ]
So, why did I put it in ‘Philosophy’?.. Well, if you look at my two alternative titles, you’ll see the words ‘slavery’ and ‘morally’… Are these not philosophically-rich words ?
I think, Oni Omega, that I may have rattled your cage.
I’m only 20 years old and don’t know much about home ownership at all, but I’ve always heard people say that it’s much better to own a home than to rent. right now you’re a slave to paying rent, is that really so much different from being a slave to mortgage payments? a life time of mortgage payments v. a lifetime of rent… I don’t know man, but I’d say, if you can afford it (through whatever reasonable means), go for it.
the only downside that I can see is that you have to do all your own fixings in the house. haha. I love being able to just call the office and be like “yo, dude, my sink is totally clogged, I need someone to come fix it!” and then they show up in a day and fix it, have me sign a paper and then leave and it’s all done.
I would say that living in rented accommodation is NOT slavery. You’re just paying for a service, just like any other service. As such, you are the customer, and the customer is always right, the customer is the boss.
Freedom: - How easy is it, to move to another town when you are only, say, five years into paying off a 40 year mortgage. I would imagine it’s not very easy at all, not to mention the thousands of dollars/euros in not-so-visible fees and taxes involved in switching mortgages. What if you wanted to move several times within that 40 years ? Freedom ??
A renter can move around his country as he pleases. He doesn’t have to worry about a ‘property-price-crash’. If his accommodation burns to the ground, then “So what !!”… as long as no one was injured, everythings o.k. … just hire the next house down the street !.. No stress… No stress, that’s what it’s all about.
Remember… You are the customer, you are paying your landlords wages, you are HIS boss.
If you don’t like your landlords rules… Tell him to shove his accommodation up his ass !! Then take your money some place else. Try doing THAT to a bank.
Bottom line: - [size=117]" Having a home is much more important than having a house."[/size]
Does anybody agree/disagree with this philosophy ?
[size=75]P.S. - I am a single man, and the view you see above, obviously, is a reflection of that.[/size]
I suggest the idea to you that purchasing a house would accumulate equity which you could use if ever you had the necessity. In the OC, we are experiencing and have experienced a phenomenal price increase in real estate. The house that my family bought eight years ago has nearly quadrupled in value. If economists in Ireland predict that the real estate market will do well in the coming years then I would advise a purchase.
I hear this a lot… And what would one do with this ‘equity’ once one had it in their hands? I mean you still need somewhere to live right? So you spend it all on the purchase of a new house, which has also escalated to a ridiculous price. So, you see, you’re no better off. Also, you’ve made no mention of the 40 years of stress involved. Constantly in terror of losing your job, even if it’s one you hate, because you just HAVE to keep making those payments.
Is that what life is supposed to be, ‘jumping through monthly fu@king hoops’, while the bankers laughingly crack their whip?
" Dance, little man, dance… ha ha ha."
They’re actually predicting the opposite; “It’s a bubble about to burst,” they say.
When this happens, it’ll be the renters who’ll be laughing… I can’t wait.
Philosophical Bit :
[size=117]" What is it that makes a house a home ?.. Does owning it make it more of a home ?"[/size]
Do you really think that! He is living off your wages, he probably doesn’t need to work. He has it good.
Buying a house is much better as its a way to save money, house prices always rise plus you get to pay into your own mortage. You can pass it on to kids or sell it when you are old and travel.
Ireland is an island with land shortage, so property values will constantly increase. 100,000 now will double to 200,000 or even triple in maybe at the most 10 yrs. You sell your home for 200,000, or 300,000 pay off the original 100,000 and after taxes you have substantial profit, maybe more maybe less.If you improve your land you increase the value. Improvements do not have to be expensive. you do not have to hold your property for 40 yrs. you just have to make sure if you sell, your contract does not overly penalize you.
It is like life you take a chance but on an island where land is sorely limited and the island is human friendly. LOL I would buy as much as possible even acres that stand empty.
I think if you are under the age of 30 and are still single,its better to rent than to buy a house,because at this age and are still single, freedom is most important. it allows you to choose you job and future wife more freely.If you are married and having kids and have enough money i think you to buy a house is better,because your family members would be happier living in a house of their own.stability is important for family life,however.
…Another part on wealth and wealth accumulation, in my opinion is the aspect of influence. An example would be that, one would prefer to buy a house to have more responsibility and more influence among a certain group of friends, without which (asset) he would be far removed from (the friends). In my opinion, this cannot be seen as foolish. Just as a reasonably young man would go through huge problems to marry/go out with a woman he believes is good for him. It would then seem to me that the prize weighs more than the cost; and also he is held in high regard by his friends.
I would say a similar case would apply when you consider accumulating wealth, part of this would be to own property. Then factors which include location, bond repayments against income, renovation costs, and interest rates would have to be considered. Others could even make use of astronomers (which I believe is also a philosophical discipline) and market speculators to affirm their decision.
To rent is something that needs to be done for various reasons but does not increase a person’s wealth (assuming the ultimate goal is to increase in wealth); instead I would ague that it decreases income and any accumulated wealth left if income is not available.
Also…
Only the depreciation of the value of the property you are renting will make you smile, but how can it depreciate with constant renovations (assuming any reasonable owner would like to maximize income and also keep tenants happy)? Property that is well looked after has been known to gain value. If a house is bought at a reasonable price and later sold, a person stands a good chance of making a profit.
You speak of slavery and freedom without qualifying them…I would ague that some men have chosen to be slaves in order to obtain freedom and also another’s freedom has become a burden for him and turned him into a slave. In one discipline of Chinese philosophy it suggests that freedom without responsibility is no freedom at all. It seems to me you have omitted a number of factors regarding your situation, either by choice or by simplicity. How simple is the situation? When renting, are you certain you a paying for service and not offering one?
amother thing, ur not a philosopher if u didnt already know also my spelling is bad i know :-L
