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If you rent, do you intend to buy, or would you rather continue to rent? Are you home owners happy with your home, or are you using it as a stepping stone to something better? Did you, or do you do a lot of your own work on your home? I'm from a family of single family home builders, and I'm on my 13th building project, so this has always been an interesting subject to me.

The last two homes I have owned outright, no mortgage. This is the way to go but it takes a while to build up to it. I always remodeled my homes and did most of the work myself or with a partner. My most extensive remodel was in San Francisco. I ripped the whole inside of the house out (which was a lot of fun, how I do love to tear things down and finish looking like a plaster dust fairy) and put in everything new. I only hired out some of the electrical work. Oh, btw, I did this in the evenings and weekends while working a full time job. It played havoc with my love life.

We still rent, but that's mainly because the cost to buy here in Vancouver is so astronomically high. With a 40 year mortgage, and nothing down, we could buy, but we'd still be paying an extra 1000 a month. We put that money towards saving instead. I'm pretty sure the market isn't going any higher for awhile here, so we might buy if it cools down a lot.

If you rent, do you intend to buy, or would you rather continue to rent?
Bought my home (540 sq.ft. beach cottage) four years out of graduate school. Made accelerated payments over 9 years to hasten owning it free and clear. Then remodeled it to 2.5 stories (TRW: 1700 sq.ft). Part of original footings retained, part of floor retained, studing for one wall retained (to qualify as a remodel); remainder is all new.

Are you home owners happy with your home, or are you using it as a stepping stone to something better?
Yes, I'm happy with it (although the 34' height makes cleaning, restaining, reroofing etc. a bit of a pain).

Did you, or do you do a lot of your own work on your home?
I did the design, assisted in pouring the foundation, framing, dry wall, and siding. Did the insulation, staining the exterior, roofing, and low voltage wiring (set up for computer control). Hired out plumbing and high voltage portion of the electrical. Have done all the maintenance (reroof, restain, etc.) except for a critical plumbing leak.

i bought my condo back in december 2003... 30 yr fixed and i put in a small amount extra every month to help wittle down that mortgage principal. My unit was pretty much move-in ready ('cept for some painting) and i have no intention on moving out but i do plan on updating the kitchen soon.

I own my own home... and its an absolute requirement from the standpoint of a tax shelter (I'm self employed).

If you can buy a home, a single individual really should, because of the tax implications, if nothing else. I had a home built 3.5 years ago. I really love it.

I rent.

I will own someday, when I have a real job. I want a place that's mine, that I can modify and decorate, a place I can have a garden, a dog, and someday a kid. Maybe some ducks.

I own my own place. Small, but comfortable. Cheap, since it is public housing, rather than a private condo. Still, at least it is a roof over my head, and I have paid up for it.

I rent and intend to buy wherever I do residency in 2010. Hopefully this house market mess clears up by then.

I totally believe in home ownership. What better tax shelter / equity builder? I'm on house six. I'm very happy with it, but I can't imagine this being my last home.

Bought my first apt in 2001. Total fixer upper 1 bed/1 bath in great nyc neighborhood. Gutted it completely and redid from scratch. Sold it in Nov 2007. Renting at the moment and waiting to see how things unfold. I would like a 2 bed / 2 bath for my next apt. Besides it being a tax shelter, its one of the few investments that you can leverage.

We've owned our own home 6 years ago, and recently bought a revenue property. We plan to buy another couple revenue properties in the upcoming years. Great way to build up retirement fund!

My parents own our home.

I bought my place in 1986, a 1917 Arts and Crafts Bungalow that was a mess, and have fixed it up. It's my home, so my goal is not to turn it over, obviously.

I did a lot with my own sweat, but a massive redesign of the kitchen and bathrooms, plus some of the landscape work was done by designers/contractors.

I'd do it again in a second.

http://www.hewnandhammered.com/hewn_and_hammered/2006/06/the_east_bay_bu.html


http://www.rejuvenation.com/catalog/customers/settingdisplay.html?setting_id=214&category=dining

Very nice fastprof.

I rent, and I have no intentions of buying a house anytime soon, although the market here in Houston makes it very tempting.

don't own my home yet, but am considering buying my brother's from him which he built a few years ago. Very nice..on 100 acres of rolling treed hills and pond.
4 bed/3.75 bath, all brick, walk out basement with 10 ft. ceilings in basement, huge deck and big front porch, 10-14 ft.ceilings throughout the rest of the house, large open spaces, 2 very large oversized fireplaces (up and down) with one of them a very large 3 sided fireplace, lots of windows and large-windowed walls, a few miles from a nice big lake, huge island kitchen, big rooms, several bay windows, large bathrooms,..awesome master suite with mamouth jaccuzzi tub in M.bath, separate office off entry with french doors, 2 wide staircases to downstairs - one formal from entry and one from garage/kitchen, inground sprinklers, all fescue grass, swimming pool, new heated horse barn with stalls...The list goes on...
I probably should buy it, but then i think, "Do I really need allll this?"
Just need to make up my mind I guess.

If you rent, do you intend to buy, or would you rather continue to rent?
I am in the 3rd house I've owned. I purchased it 5 years ago.

Are you home owners happy with your home, or are you using it as a stepping stone to something better?
I am happy with my home for many reasons: size, cost, and location. However, my partner and I have been talking about moving in together. But we would have to (a) decide on the city, and (b) buy a bigger house.

Did you, or do you do a lot of your own work on your home?
I've done very little to the house, other than some updating. I've put new blinds in the house, added french doors to the master bedroom, added new landscaping (including 30 tons of stone!), and updated the applicances. I only have a few odd jobs left to do, but I have to wait until the weather cools down.

I bought a 3bed.2.5 bath 1700 sq ft condo and completely gutted it from floor to ceiling. I bought in 2004 just before the market soared and I am glad I did because that was a time when it was easy to buy, and I may not have been able to make the same purchase now.

If you rent, do you intend to buy, or would you rather continue to rent?

I do rent and want to own HOWEVER because I don't want to make SF my "home" as soon as I decide on where I want to settle THEN I will begin that buying process.

I own my home. 3 bed, two bath sngle story on a big lot at the end of a cul de sac. I have remodeled most of the house myself. Currently trying to get bids for sod.

I currently rent.

When people say they "own" their homes, I think most actually are still making payments, so in fact, these folks are not owners.

Rent...SF is too costly to own. Once I get to a stable place in my life I'll own.

Had a home until I turned gay and moved out! LOL The home formally assigned to me (well, according to the lending institution, it's still partly mine) was a real nice home purchased at the low and now worth much more in the great state of California. I however, now live in a very humble 2 bedroom apartment with no furniture. But I'm getting there, bought some pots and pans and I do have ONE chair in the living room. And all those tables, dining table, coffee table, end table.. they're all over rated, have a laptop and a lap, who needs more..... oh I am pitiful aren't I. Someday I'll be back in the big leagues, but for now.... I'm gay! LOL just kidding, damn don't come down on me for that one

HighVoltageGuy saidRent...SF is too costly to own. Once I get to a stable place in my life I'll own.

Man you have that right HVG, I don't think I could ever afford to buy in the City. Even rent there is really high. In the east bay it's not as bad.

swimbikerun saidI currently rent.

When people say they "own" their homes, I think most actually are still making payments, so in fact, these folks are not owners.

If i buy my brothers house ( mentioned above ) I won't be making payments. Will just buy it outright/cash.

If you rent,

I do

do you intend to buy,

yes

or would you rather continue to rent?

I will continue to rent until I'm back on my 'post divorce' feet. My ex walked away with the cash, and I walked away with the debt.


Are you home owners happy with your home, or are you using it as a stepping stone to something better?

I could have lived in that house for many years.

Did you, or do you do a lot of your own work on your home?

Definitely. I owned two homes (sequentially) and completely gutted and renovated the kitchens. One require major structural work. While I love a 'beautiful' kitchen, it must be completely ergonomically functional as I can possibly afford. (i.e. not the most expensive stove, but the best to cook on.)

Now, since I rent, until I own again, I won't be doing any major work on this rental house.

Is It Better to Buy or Rent?

http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html?_r=1&ref=patrick.net&oref=slogin

Patrick.net and Implode-o-Meter are two great resources:

http://patrick.net/

http://ml-implode.com/

If you can, its better to buy. Its not always the best time to buy, but if you are in it for the mid/long term you are better off buying. The financial aspect is the one major factor to consider, but also knowing you live in something you own is a great feeling all else aside. Its your place, you make it to your taste, and there is no rent increases or someone else to answer to.

Current real estate crisis aside, which is fueled by people over-extending and buying things they really cant afford and stupid mortgage underwriting, you must really try hard to lose money in RE.

palikari saidIf you can, its better to buy. Its not always the best time to buy, but if you are in it for the mid-long term you are better off buying. And this is without considering the value you can add through smart renovations etc...

If you were referring to my post, that's just the title of the NYTimes page where the tool is located.

There is never a blanket answer as each individual's situation is different.

swimbikerun saidIs It Better to Buy or Rent?
ref="http://patrick.net/" target="_blank">http://patrick.net/

http://ml-implode.com/

Well, since I am into my 22nd year in this place, it's easy for me to say. But when I bought it, I had sunk every dollar into the downpayment and I was not much better off than many who buy now are. However, the websites you mention are centering on people who make a decision to buy, encouraged by dishonest brokers, a home they can't afford and get a mortgage that they can't manage.

That wasn't the case with me.

So, to summarize, only for myself, buying my home was the BEST financial decision I have made in my life and one of the best PERSONAL decisions.

I had been a renter for 10 years before I bought my house. This is my perspective on being a renter. I mostly disliked every minute of it. I disliked dealing with landlords, disliked writing out a check to someone else for the privilege of living by their rules in their place. (That said, I wouldn't be a landlord either...I've seen enough "renters from hell" to realize that I could never deal with that!)

swimbikerun, you mentioned that most "owners" don't really own. That's true in the same sense that you don't own your car if you have a loan you're paying off on it. The huge difference is this...each tax year I get a huge part of what I am paying on the loan back. The loan itself, because of when I bought my house, is a small amount of the equity I've built in the house.

It's been a win-win situation, even with the units of $10000 I have to occasionally sink into the place for upkeep.

Every time I want to turn my sound system up, I thank the Lord that I have my own home. Every time I write a mortgage check out, I thank the Lord that a good portion of that money is coming back to me and not going to a landlord.

That said, it's not for everybody, and, yes, lots of people who thought they should be owners now, should have stayed renters.

On a slight aside:

I just saw the Kieran Timberlake "Cellophane House" at MOMA in NYC on Friday.

If I had the cash, I'd buy one in a second. It was incredible (if you like modern). You have do a walk-through to truly appreciate its design and structure.

I rent at the present time, with my shitty, lousy income there is no way that I want to own property. Especially with our high property taxes here in Buffalo, NY. Owning your own home will give you equity, but there are major disadvantages to home ownership. Anything goes wrong on the property, you are solely responsible for correcting the situation. Anyone gets hurt on your property, you could probably face a lawsuit. Any structural problems, defects, deterioration is solely your responsibility to repair. Yes it might be all fine and dandy to own your place of residence but the financial burdens look quite scary. No thank you, I will continue to rent.

I own two condo's

and have the depreciated market value to prove it

I think owning a home is far more ideal than renting or even a condo for that matter.

Condos give you all the grief that apartments have. Such as lack of privacy and noise.

Look forward to owning a home with a garden. I love to garden.

Obviously, money is a consideration when buying a home. There are guidelines for this that a mortgage broker at a bank will be helpful with. The problem lies when what people want gets in the way of their needs. If you want to make progress with your equity, buy when the market is depressed, now, for example. Buy the most expensive property that you can afford and try to buy the worst property in the best neighbourhood, again, that you can afford. Obviously, there are some scary things about home ownership, but for all the homes I have owned except one, in which, I barely broke even, I have always made a profit and lived in the house for free considering all the expenses. I have always insured myself for my total assets in case of disaster like someone tripping on the sidewalk or an earthquake.

I would not be retired now for the last 10 years if it were not for investing my time and money in homes.

The house I live in is the 3rd home I have owned ...it is a small, two bedroom Hillside Post and Beam structure in the Hollywood Hills which I bought in 1976. The others were for investment and allowed me to finance my first Video Production business. After remodeling several times, I am very happy with it now, ... and yes, it is paid for in full!


-- Ron

We own. We just moved into our third.
Unlike the first two, which were turn-of-the-century, this one's 1969!

It's shock to the system, but the house is sweet and nothing to do but enjoy it, the last owner was a housing contractor and raised his family in it. He did some pretty amazing stuff.

fluxu8 saiddon't own my home yet, but am considering buying my brother's from him which he built a few years ago. Very nice..on 100 acres of rolling treed hills and pond.
4 bed/3.75 bath, all brick, walk out basement with 10 ft. ceilings in basement, huge deck and big front porch, 10-14 ft.ceilings throughout the rest of the house, large open spaces, 2 very large oversized fireplaces (up and down) with one of them a very large 3 sided fireplace, lots of windows and large-windowed walls, a few miles from a nice big lake, huge island kitchen, big rooms, several bay windows, large bathrooms,..awesome master suite with mamouth jaccuzzi tub in M.bath, separate office off entry with french doors, 2 wide staircases to downstairs - one formal from entry and one from garage/kitchen, inground sprinklers, all fescue grass, swimming pool, new heated horse barn with stalls...The list goes on...
I probably should buy it, but then i think, "Do I really need allll this?"
Just need to make up my mind I guess.

Damn,,, Sounds like Terra... Perhaps I could leave Texas (get your wild horses ready) You buy the spread, we'll make lots of babies and fill the place up so you won't have to worry if you need all that.... Sure ya do. All you need is the right man now to keep you company

I own.

Bought my third(selling the previous ones and moving up each time) house in 2005, top of the market in California.

I have lost over 200k in two years, but i am not worried, the market will return.

I am also a residential realtor and can not imaging anyone preferring to rent, knowing the tax benefits, and equity building benefits.

I own a two bedroom condo in Phoenix. I bought at a pretty good time and I haven't lost much money due to the dip in housing value. However, my community still remains about 50% unsold - so it will be quite some time before I'm able to sell it even under ideal conditions. I do regret that I bought where and when I did even though I'm sure I'll make money on it eventually.

I co-own a Triplex in Dallas which will be paid off in about a year and brings in $1,800. a month in rents. One day I may move and rent my modern space out (the largest of the 3) as well and keep it for extra income. In the mean time, I am enjoying living close to downtown in the Dallas Turtle Creek area near much of the Gay activity. It's walking distance to lots of entertainment and a fun place to live.

I own three properties. One is completely paid off (land only). I have two homes. I live in one and the other is rented out. Can't think of a better way to invest than being a homeowner, despite the market challenge. It's all about timing, seeing opportunities, making sound decisions not based on emotions, and location, location, location. Grant it, I live in a fix-me-upper, but heh, I enjoy working on home improvement projects. Nothing better knowing that you did it yourself. I surprise myself at what I can do....it's a great feeling.

Wish I had owned my first home at a much ealier age. I just woke up one day and said, "Heh, let's go buy a house this weekend." After many years of saving, I had the money to put a nice down payment on it; I also negotiated a great fixed rate at the time and was able to secure creative financing to pull it off with an awesome credit score to boot. Now the home is worth twice as much as what I paid.


I will be the first to admit that buying a home is not for everyone. Renting a home or an apartment is a perfect alternative to living within your means.

We own 2 homes, but would rather only have 1. Anyone looking to buy a house in the western Detroit suburbs...?

realifedad> Did you, or do you do a lot of your own work on your home?

Whaaat? We're supposed to do work on the house? (:

LOL I am marginally housed right now lol

I rent now. I would rather be living in someplace I owned though.

Own. Consider it a stepping stone, but the next big step could likely be on the very same lot since the prospects for neighborhood are good dev-wise. Everything appreciates well and steadily here, where a few articles have basically described it as "recession proof".

realifedad said If you rent, do you intend to buy, or would you rather continue to rent? Are you home owners happy with your home, or are you using it as a stepping stone to something better? Did you, or do you do a lot of your own work on your home? I'm from a family of single family home builders, and I'm on my 13th building project, so this has always been an interesting subject to me.

realifedad, I miss you buddy I wish I can own a house right now... I am stuck living with my parent, but you know... That way I can save money and buy a nice house in the future.

i live with my family
but i rent one room for myself ...

i'm happy with my family,my mom cooks chinese food very well.i rent my room because i really sometimes need a abusolutly qiute place to think ,to draw,to write essay and enjoy the music,i don't think i will buy it.
if one day i want my own place,i will buy a bigger new one,i have a lot of books .
i wanna do the decoration all by myself.

fastprof said
So, to summarize, only for myself, buying my home was the BEST financial decision I have made in my life and one of the best PERSONAL decisions.

I had been a renter for 10 years before I bought my house. This is my perspective on being a renter. I mostly disliked every minute of it. I disliked dealing with landlords, disliked writing out a check to someone else for the privilege of living by their rules in their place.

Ditto for me.

And one thing that always seems to get overlooked by those who argue in favor of renting. Assuming you don't have an adjustable rate, mortgage payments are fixed. My mortgage payment is the same today as it was five years ago, as it will be five years from now.

When people talk about affordable housing, they seem to forget that a mortgage payment becomes a smaller percentage of your income year after year. Most of us increase our income over time, but this is true even if you simply get cost-of-living raises.

Rents on the other hand, rise year after year in lock step with the cost of living.

eb925guy saidHad a home until I turned gay and moved out! LOL The home formally assigned to me (well, according to the lending institution, it's still partly mine) was a real nice home purchased at the low and now worth much more in the great state of California. I however, now live in a very humble 2 bedroom apartment with no furniture. But I'm getting there, bought some pots and pans and I do have ONE chair in the living room. And all those tables, dining table, coffee table, end table.. they're all over rated, have a laptop and a lap, who needs more..... oh I am pitiful aren't I. Someday I'll be back in the big leagues, but for now.... I'm gay! LOL just kidding, damn don't come down on me for that one

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>Hey buddy !!!! Don't be to discouraged man, I got a divorce, and lost the house, and about half of everything else in April of 91', I was able to find a really old log house and was about done restoring it, and My Daughter and I had decorated for Xmas on Friday night, getting ready for my family to come later in the week. On Sat. December 19, 92' I got up about 7:15 and my world was fine, 10 minutes later I smelled smoke. I ran downstairs and saw flames coming out of the bathroom door at the end of the hall, and suddenly flames burst into the hallway filling the ceiling over my head. I ran as fast as I could to the 3rd floor half story bedroom to get my daughter while screaming fire !!!! I got her up and we tried to get her shoes on her, we ran down the steps to 2nd floor stair hall but couldn't see so went the other way to the front 2nd floor porch and someone ran up with a ladder so we climbed down. By 7:30 the entire house was ingulfed and flames because I had exposed all the wood walls, ceilings and floors, with the open stair acting like a chimney spreading the flames. So what I didn't lose in the divorce I lost in the fire. I was still able to start over, and ended up with even more by the end of 4 more years. YOU WILL DO FINE !!! IT COULD BE WORSE !!!!!

Neither.

A little side note, I'm always amazed at how much homes are on the west side of the US. When I watch "Flip that house" on TLC and see homes being sold for $500,000 or more it surprises me! Homes like that where I live (Hope Mills, North Carolina) sell for less than $200,000.

I always wonder why it costs so much to live in California?!

Buffyfan84 saidNeither.

A little side note, I'm always amazed at how much homes are on the west side of the US. When I watch "Flip that house" on TLC and see homes being sold for $500,000 or more it surprises me! Homes like that where I live (Hope Mills, North Carolina) sell for less than $200,000.

I always wonder why it costs so much to live in California?!

It's not just California. It's not just the coasts and big cities. I live in Nashville, TN and most of the houses around me (not mine unfortunately) are priced in the $800-$900K range. One down the block sold for $1.1 million. When I moved here, there was no such thing as a million dollar house in the whole city.

caesarea4 saidWe own 2 homes, but would rather only have 1. Anyone looking to buy a house in the western Detroit suburbs...?

realifedad> Did you, or do you do a lot of your own work on your home?

Whaaat? We're supposed to do work on the house? (:

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>Yes, I have always done most of my own work. I am very fortunate that my father was a builder, and I grew up around home construction, so it was second nature. (When I was born my parents were building a house, so they have pictures of me laying in a tub surrounded with blankets, with all the smells and noises of home building around me, to this day I love those smells, LOL !!!) Through working with and watching dad, I was able to start from a hole in the ground and go from there with building a home at age 20. Don't be afraid of home projects, as long as you have the interest and desire, you can accomplish what you want to do to your home by learning from someone else or books. You'll find that your appreciation of and your joy in your home increases 100% when you can say "I DID IT".

I own 5 properties now and consider it one of the best things I have ever done. I also have an excellent management company running my rentals. This has made a big difference too.

My partner and I currently rent, and are looking to buy in the next couple of years. There is something nice about owning a place I think, and it'll be nice not to clear things with a landlord all the time. I can't hardly wait to get a place of my own.

I own. Loved the whole renovation process. Eventually I'll sell and do it all again.

If you rent, do you intend to buy, or would you rather continue to rent?
Bought my home a little less than a year ago after several years of renting. Nothing wrong with renting a place at all, but I have really enjoyed being a home-owner.

Are you home owners happy with your home, or are you using it as a stepping stone to something better?
I'm definitely happy with it. I personally don't think of it as a stepping stone to something better, but I do think of it as a great investment. I don't know how long we are going to stay in the area we're in now, and if we are going to sell the house or just rent it out when we do have to leave. My preference is for the latter, but part of that will be determined by how the US housing market changes in the future.

Did you, or do you do a lot of your own work on your home?
We have done a lot of work on the house, but it has mostly been stylistic improvements as opposed to things that should have been fixed a long time ago. The house is a newer construction, so there isn't a lot to "repair," but we did put in hardwood floors (because the dogs made quick work of the carpet), added a nice chair rail and molding to the entry hall, and are planning to add some appliances to the place that weren't here (a diswasher, mainly)

What is up with all you heathens owning your homes?







I own as well. I was forced to move 5 times in 3 months and was over dealing with landlords, "promises," storage spaces, etc.


I have now owned my home for almost 2 years. While I'm sure I could have gotten a slightly better deal had I waited, I doubt I would have gotten a loan nowadays with the lending the way it is.

So, I am very happy as I love my house and neighborhood, I just need to keep it cooler from 4pm-7pm...


HOT!

I bought about 1 and 1/2 years ago. My first house. 2 bed 2 bath condo 1200 square feet for 83,00 in NC. This property would be 1.5 mil in new york or San Fran. I have been able to decorate it very nicely since the price was so reasonable. I reccommend all the gay people in california move to NC. Then the prices will go up and all the gay people will be rich. Because the straight people always follow us were ever we go. ^^ PS weather is great very mild if any winter here.

I have owned my house in North Carolina for years.

"If you rent, do you intend to buy, or would you rather continue to rent?"
N/A

"Are you home owners happy with your home, or are you using it as a stepping stone to something better?"
I love my home however, I am using it as a stepping stone onto something larger. I currently have 1800sq ft., looking to increase to around 3000sq ft.

"Did you, or do you do a lot of your own work on your home?"
I did the most of the work, but the work only included cosmetic things like painting. My home is 4 years old. I would like to do my basement, but that is super expensive.

Hope that helps!

I bought my home in 2002. It is a single family home. I work from home so I need a bigger than average home. It is around the size of home that I grew up in. I just wish that it had an enormous garage for more storage space. This is my first and only home. I would not call it a starter home. I don't see myself moving any time soon. I have amazing neighbors. I bought it brand new with my best friend. He past away after 3 years of owning it so I have had to take care of it myself.

I just purchased a house in February outside of Chicago. It was a pretty sweet deal - locked in at a low interest rate, and also purchased the property from a relocation company who just wanted to get it off its books. It had previously been appraised (4 months before) at more than 100K higher than our closing price. What makes the deal better is that I currently have two friends renting from me, which goes directly into the mortgage principal

It has been a lot of work so far, but I have made a significant amount of changes that will benefit the house value in the long run. Yes - it is a financial strain now, but definitely worth it in terms of long term financial security. I wanted to get in while the market was still shot, and this was an ideal opportunity. I won't need four bedrooms in the long run, but figure I can always downsize once my friends move out, and just invest the remaining equity elsewhere.

Any way you slice it, I am much more happy as a homeowner. Some things (such as yardwork) are not a ton of fun, but I just keep reminding myself of sweat equity and that I am the one making these choices...NOT the rental company. That fact is what makes it all worth it.

Down the line, I think I would like to get into the "landlord" type situation where I own several rental properties, because this whole process has been exciting, and eye opening. We'll see though - I probably have a few years before that, since most of my friends aren't even out of college yet

Home owner since Feb. 2001.

We own a 4,000-sq-ft house built in 1903. We can't keep up with the repairs that are needed -- just had to have the front porch rebuilt. $35,000, ca-ching.

Honestly, I would be quite happy living in an apartment where I just ring up the landlord every time something goes wrong. My partner won't hear of it, though.

We also own a weekend place that is completely paid for. It took the contractor two years to remodel the damn place and almost ruined our relationship. It is paid for, at least.

As for the tax advantage of owning, it doesn't seem any greater to me than my deductions for maintaining a home office, which occupies almost half the house.

I currently rent a condo here at the beach. I was in talks with the owner to purchase it when he was ready to sell when low and behold, i came home one night and the kitchen was flooded and a few months later, same with the bathroom. I learned what a pain it is to deal with the condo association. The blame was on me. I apparently stuffed rags down the kitchen sink! LOL. The owner didnt believe that and stood up for me. We get along great but after those incidents, I will buy elsewhere when I am ready.