I am considering buying a house again. There are Pros and Cons of both options. I will give you the top of my lists.
Pros:
It is a good investment.
Cons:
I don't want a house.
In addition to all of that information, below I provided a recent chat with my 9-year-old niece. After reading the dialogue you should have enough information to vote on my survey. If you vote "no" feel free to share any good ideas of how I might otherwise invest my money.
Kristina: HELLO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
me: hi kristi
how you doing?
Kristina: good
me: do you think I should buy a house?
or do you think I should stay in my apartment?
Kristina: the apartment is enough for you
me: yeah
Kristina: houses are expensive
me: I can afford one
I just don't need that much space
Kristina: yeah
think of what you could buy instead of a house- food, clothing
stuff like that
me: I can probably buy that stuff anyway
Kristina: yeah
but you could buy more of it
me: so you think just keep the apartment?
Kristina: 80000000% yes
me: that's a really strong opinion
okay
I'll stay here for now
Kristina: why did you want my opinion?
why not an adult's
?????
me: I dunno
I asked adults too
I just wanted to hear what you thought
Kristina: what was what most people said?
me: sometimes kids have a simpler way of looking at stuff
I've had people say both ways
the problem is I don't want a house
Kristina: then y did u ask anyone in the first place???!!
me: I don't want one, but I think it would be a good investment because home prices have dropped and they should go back up
Kristina: don't buy what you don't want unless it's for someone else
CHANGING SUBJECT AND TALKING ABOUT SOMETHING ELSE NOW!!!!!!!!!!!!
what is your favorite kind of pie?
mine is apple
me: I'm not sure
but I do like apple
that may be my favorite too
Kristina: have you tried my mom's chocolate chip?
me: yeah
it is great
I enjoy that one a lot
Kristina: sorry
I have to go now
bye
me: okay
talk to you later
Kristina: bye bye
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14 comments:
I voted no. If you want to buy a house to live in, then don't think of it as an investment. Think of it as a place to live in. If you want to buy a house as an investment, buy a house and rent it out. But then you have to deal with maintenance and tenets and all of the lame stuff about having a house. I don't see that for you.
I like what Jeremy said.
i always think a house is a better place to live than an apartment. it's the ownership, it's the feeling and it's the privacy. i don't see more space as a problem. i'll be even happier to have it. one could use a room for a library, the other for a gallery, music room etc. investment comes as an advantage at a later stage since at least in my country, land/house price is never going down. it always goes up and up.
but then again, wanting is a huge aspect here. your niece had a point made which most adults should do/listen to. don't buy things that you don't need/want. if you don't have the want, even though you decide to buy a house, will it make you happy? because to be happy about something is what matters, right?
give more thought about it.
I voted no...I think that a house would be a great investment at this time but the tone of your writing says it's not where your heart lies. If anyone asks my opinion on a major life event for them, and I don't sense they are passionate about it, I always advise them against it. Life is too short to not pursue your passions! STL Dave
Can you leave a comment without having an account?
If you can afford it (put 10% or so down, and make the payments comfortably each month) and you want to live there for a while, then yes. Otherwise, no
So cute. Man, that chocolate chip pie is good, isn't it?
Go with your gut on this one. I trust your ability to trust yourself... ;-)
If you have to think this hard about it and survey everyone you know, I think the answer should be no. The fact that you don't want to should be a big clue. It's too big of a commitment if you aren't sure...
If you don't want it, why get it? So what if the market is in a downturn. It's a place to live, not an investment. And it'll make it that much harder to ultimately live back in So Cal where you belong!
just buy a lot of pie
I'm going to say no for the same reasons Jeremy did. I just want to be like Jeremy. Sarah and I started looking for a house to buy, and then she got sick and then we had a baby and now life is crazy. But we're renting a great house!
I don't think you will enjoy living where you will be able to afford a house, so no.
You have to consider other costs too. If it means you have to drive enverywhere rather than walking a lot of places that that is added fuel and auto maintenance costs and opportunity cost of whatever you could be doing with the added time you are now driving. If you don't like your future neighborhood as much as your current one, then that is added psychological cost. Etc, etc.
You all are welcome to buy the houses immediately next to mine. I hear they're cheap (~90k). They're old and have got character. I guarantee you'll enjoy where you live because it's next to me. And if you act now, I promise to mow your lawn for you every week.
A friend of mine once told me if you have to ask if it's something you should do then it's probably not.
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