Do You Rent Or Own The Home You Live In?

Discussion in 'Retirement & Leisure' started by Babs Hunt, Apr 22, 2017.

  1. Babs Hunt

    Babs Hunt Supreme Member
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    That's exactly one of the kinds of things I wanted to avoid with home ownership Chrissy. Being in that position with your home would make me feel tied down to it and not free to pick up at will and move if I felt like it. You are blessed that you don't have to pay the mortgage, etc. but still your utilities and maintenance on a home that size is eating up a sizeable chunk of your income, not to mention the energy you have to expend on cleaning, etc. a home of that size.

    Our home has about 600 square feet but it is the perfect size for the two of us and probably the only thing we don't have is a carport or garage for our car (which would be nice). I do realize that where you live it would be just about impossible to find a place like ours and pay just $450. per month for it. The home my ex and I sold had over 2000 square feet and once the kids are out of something that big...it really wasn't what we needed anymore at all. We also own a home here in Lafayette which is only about 1400 square feet and which my ex lives in. It is paid for and when we divorced I gave my ex the legal right to live in and maintain it until he either sells it or passes away. So in a way I do still own a home...but have none of the responsibility of it and don't want to have it. If he passes away before me I will have the right to move back into it if I want until I pass. But this is not something I plan to do.
     
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  2. Chrissy Cross

    Chrissy Cross Supreme Member
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    True about the extra work...even if I don't use 3 bedrooms, they still get dusty etc...pain in the butt.

    Also, if my daughter dies before I do (don't even like typing that) there are provisions in her will and the trust that this house will be payed off from their estate...if it isn't already.
     
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  3. Babs Hunt

    Babs Hunt Supreme Member
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    Our couch opens into a queen size bed for grandkid "sleepovers!" :) I laugh when my siblings say I need another bedroom, maybe they think so but I am not a people person and like knowing we have no extra bedroom for sleepovers for others all the time.
     
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  4. Chrissy Cross

    Chrissy Cross Supreme Member
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    I have plenty of room for guests but since the boys got older, my daughter never comes here anymore, I go there.

    Just too many things going on for them over the weekend. Plus now that they are older they don't need me to babysit.

    Back then my daughter would come and then I'd watch the boys while she went shopping in peace. :)

    They still have their room though that I call the boys room...still a few odds and ends of toys in the closet.

    At home they had everything in the way of expensive toys but would love coming here and checking out all the crap toys I bought at the dollar store...They'd come in give me a big hug and run to the closet. :)

    They also loved that the ice cream man came In my neighborhood.

    Also, as usual...I'm going off track! :)
     
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    Last edited: Apr 23, 2017
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  5. Babs Hunt

    Babs Hunt Supreme Member
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    I have my totes of toys for the grandkids too. Now that my youngest ones will be moving back here from Texas those totes will come out more often once again and I'm looking forward to this more than I can say. :)

    My older grandkids now like to play with the outdoor games in our big yard or with the games for the Wii now and they don't come as often as they used to either now that they are all in school and after school activities, etc.

    I think if I would be more of a people person I would need a bigger home for having everyone over for Holiday meals, etc. but since all of my daughter's have nice size homes and they have blessed me with wanting to take over the majority of the entertaining duties now...our home doesn't need the space for this kind of thing anymore either. We do have plenty of outdoor space to hold barbecues or seafood boils with our family and play outdoor games though so every so often (when we're in the mood) we all enjoy doing this. Next time we have one I'll share the pictures. :)
     
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  6. Chrissy Cross

    Chrissy Cross Supreme Member
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    Same here, my daughter has the biggest house....almost 5,000 sq ft. Everyone goes there.
     
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  7. Martin Alonzo

    Martin Alonzo Supreme Member
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    Most of my life I lived in an apartment. I had a store and three different homes all heavily mortgaged. So I never owned anything just made other people and banks rich. After retiring and ending up in the Dominican Republic started over and with my pension of about $2,000 Canadian per month and only savings was my boat. I built a two bedroom home and lived off of the money at the same time. Selling the boat $60,000 Canadian built a two bedroom apartment on the house and furnished the home. With no money owing on any of it. There is no land tax no building tax and the cost of utilities is reasonable.

    While I was struggling in Canada I had to pay taxes on land buildings and because I did not own it out right had to buy insurance. If I could move what I have now into Canada I would not be able to afford it.

    Since I built the house I built a swimming pool 25 ft square which we don’t use now also a two bedroom with bath building behind the house. Workshop 15ft. X 20ft. Which ends up being a storage shed.
     
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  8. Babs Hunt

    Babs Hunt Supreme Member
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    When I married my Honey and we lived in Jacksonville, FL we rented in a small and pretty old apartment complex that I loved. We lived in a one bedroom unit which had a very nice porch area and when we sat outside our view was an inner court area with a concrete area with a few barbecue grills and picnic tables. I loved renting at this complex and if money was no problem I think I would have purchased that Complex and turned it into a Seniors only place. But at the time the people who lived in the complex were all ages and all nationalities. It was the first time I had ever experienced people from all over the World....and I loved it.

    As with all places we can live there was good and bad but those five years we lived there were years I will remember always and with fondness. My Honey is a people person and he made friends with everyone in that complex and I would share cajun food with many of them...who in return would often gift us with food from their culture. It was one of the most interesting times of my life meeting people from all over the world and sharing our lives with them.
     
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  9. Hedi Mitchell

    Hedi Mitchell Supreme Member
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    Excatly why extra bedroom has other things in ...and no bed
     
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  10. Babs Hunt

    Babs Hunt Supreme Member
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    :D Aren't we smart though.
     
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  11. Yvonne Smith

    Yvonne Smith Senior Staff
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    When I moved back to North Idaho from the farm in Missouri, in 2000; I had the property that my parents had owned since around the Great Depression, and I bought an old 12x60 trailer and put in a septic tank and moved in. The first winter, I didn't even have electricity or water, but by the next spring, I was able to get the electricity put in, and hauled water for another year after that, at which time I had the trailer all paid for and could afford to have water hooked up from the local rural water system.
    Later, I had a cover put over the trailer so that the snow would slide off in the winter, and also started a lean-to barn for the horses. I didn't expect to ever move again, and thought I would die on the same property as my folks lived on when i was born.
    Life changes.
    I met Bobby, we got married, and he found a job in Boise, way in the bottom of the state; so we had to sell everything, and move.
    Then, my heart was getting worse, and Robin asked us to move out here to Alabama so I could be closer to her; so we left everything again, bought an old motor home, loaded up ourselves and the dogs, and came out here.
    Now, we live in Robin's rental home, and this is probably where we will stay. Basically, we take care of repairs, just like we would if we owned the house; but when we are gone, or have to be in a care-home, there is no problem with us owning the house.
    So, it is somewhere in between owning and renting; but works out good for us.
    We have 3 bedrooms; but one is like a pantry/storage room, full of shelves, and the other back bedroom is our exercise area and has Bobby's home gym, and our exercise bike in it; so we really only have one bedroom that has a bed in it.
     
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    Last edited: Apr 23, 2017
  12. Babs Hunt

    Babs Hunt Supreme Member
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    I think at different seasons of our lives different things and homes work better for us Yvonne. :) I hope to spend the rest of my life with my Honey here in our cozy Acadiana Cottage that is home to us. I still would like to travel and see some other places but that might be done more with my kids and grandkids taking us along for the ride than us two doing this from now on...this just remains to be seen. I don't really want to move again unless it is to my eternal home. :)
     
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  13. Babs Hunt

    Babs Hunt Supreme Member
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    Why I like renting our place to live too is because sometimes once you think you own something...it really ends up owning you...even when it really doesn't "fit" you anymore.
     
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  14. Lon Tanner

    Lon Tanner Supreme Member
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    I have divested myself of all real estate and vehicles and live in a two bed two bath age 55 & up Apartment Complex.
     
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  15. Babs Hunt

    Babs Hunt Supreme Member
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    Downsizing is what I call it. :)
     
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