Author Topic: The Benefits of Home Ownership?  (Read 14595 times)

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Offline Stadler

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Re: The Benefits of Home Ownership?
« Reply #140 on: September 01, 2017, 10:08:46 AM »
True to form, you have a refute for anything I comment on - even when I'm being mostly facetious.  At some level, it is similar - A portion of property taxes is put towards the school systems.  If I don't have children, I'm contributing to something that benefits society, but I get no direct benefit from.  This is to some extent the argument I see against the fundamentals of Obamacare.

WHY CAN'T I HAVE A PROPERTY TAX PLAN THAT EXCLUDES WHAT I DON'T USE!?!?!  ESPECIALLY WHEN I LIVE IN A NEIGHBOURHOOD WHERE TRUANCY AND FAILURE RATES ARE SO HIGH!  CLEARLY NOT DOLLARS USED WISELY.

I'm not saying the education system doesn't GET the money, but (to use the healthcare arguments I see/hear) shouldn't the person that has 5 kids be paying more than the person who has zero kids?

As I said, I was being mostly facetious... this need not turn into our usual back and forth point/counter-point.

Well, I'm allowed to comment, facetiousness or not. 
 
Second, I'm not really arguing with you per se.   But you have a factual error that is very common but that needs to be addressed:  you DO get a direct, tangible, monetary benefit from the property tax dollars you pay that go to education, regardless of whether you have children in that school system.  You do NOT get the same level of direct, tangible monetary benefit from the tax dollars that go to healthcare.  This isn't opinion, this isn't spin, this is documentable FACT.   (one example: https://www.biggerpockets.com/renewsblog/2011/04/06/school-districts-real-estate-prices/   "One of the most interesting takeaways from this research was the profound effect that a quality school district can have on the housing values in the surrounding community."  Second example: http://www.realtor.com/advice/buy/the-right-school-district-how-much-do-schools-affect-real-estate-prices/  "Half of the home-buying population is willing to pay more than their intended budget to get into the right school district, and more than half would give up other amenities.")

Online jingle.boy

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Re: The Benefits of Home Ownership?
« Reply #141 on: September 01, 2017, 11:44:38 AM »
Fair points all around Stadler.  Let me be a little more explicit then on the matter - with no kids in the system, people don't get a direct benefit by consuming the precise service the distribution of funds provides for.  Man I hope I've worded that explicitly enough. 

By the same token, people get a direct benefit of health insurance, whether they consume it or not.  By allowing for affordable healthcare, it's plausible that many people have friends/family/co-workers who can consume the service that is being paid for even if one doesn't actually consume it.

Look, my comment wasn't meant as an absolutely flawless and perfect comparison.  There are some similarities, and I was just poking a little fun at the fact that education contributions by property taxes are commonly accepted.  Imagine this was something just introduced today - a property tax increase/levy that went towards public education.  People without children in the system would lose their shit, and I'd wager everything I've ever owned that the would never buy into the argument that 'it will increase your property values'.

Enough of the digression though, this thread is supposed to be about the benefits, and pride, of home ownership.
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Offline Stadler

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Re: The Benefits of Home Ownership?
« Reply #142 on: September 01, 2017, 12:13:22 PM »
Fair points all around Stadler.  Let me be a little more explicit then on the matter - with no kids in the system, people don't get a direct benefit by consuming the precise service the distribution of funds provides for.  Man I hope I've worded that explicitly enough. 

By the same token, people get a direct benefit of health insurance, whether they consume it or not.  By allowing for affordable healthcare, it's plausible that many people have friends/family/co-workers who can consume the service that is being paid for even if one doesn't actually consume it.

Look, my comment wasn't meant as an absolutely flawless and perfect comparison.  There are some similarities, and I was just poking a little fun at the fact that education contributions by property taxes are commonly accepted.  Imagine this was something just introduced today - a property tax increase/levy that went towards public education.  People without children in the system would lose their shit, and I'd wager everything I've ever owned that the would never buy into the argument that 'it will increase your property values'.

It came off as a snarky comment to those that have the temerity to call out healthcare for the masses.  As for the "people without children... " comment, maybe you'd win that wager, maybe not, but it would TOTALLY be based on those people not having the first clue about how the system they're complaining about works.   So on that level, I guess you're right, because most of the people commenting either way on healthcare (pro or con) don't have the first clue how it actually works. 

Quote
Enough of the digression though, this thread is supposed to be about the benefits, and pride, of home ownership.

I think it's directly relevant to the topic.   It IS a benefit of homeownership, seeing your investment grow.  Seeing value created.

Offline Cool Chris

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Re: The Benefits of Home Ownership?
« Reply #143 on: September 01, 2017, 01:08:57 PM »
Sounds like my house, 1000 sqft, 6600 in taxes, central jersey  :lol

Goddamn I thought the Seattle area had high property taxes. I am about 15 mi outside of that pit and my taxes are around $4,000 for my 1900 sq ft house. But we also have 10% sales tax, and no state income tax. Wonder how that swings the pendulum.
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Re: The Benefits of Home Ownership?
« Reply #144 on: September 02, 2017, 01:42:26 AM »
Now I feel pretty good living in Norway and in a municipality with no property taxes. Sounds like you guys pay up to 50% of the amount I pay down on my apartment each year just in taxes. Sure, we may have more VAT and such here, but I don't see that making up for that much in property taxes. I know Norway is known for being expensive, but depending on where you live the US is often (significantly) more expensive. It's also more expensive to go on holidays in the US than here, at least lately.
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Offline kingshmegland

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Re: The Benefits of Home Ownership?
« Reply #145 on: September 02, 2017, 08:40:04 AM »
Coming home to this view of your yard.  This is a benefit for your soul.

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Offline gmillerdrake

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Re: The Benefits of Home Ownership?
« Reply #146 on: September 02, 2017, 08:43:02 AM »
3200 Sq. Ft.......$4600 taxes. After reading some of these past few posts I feel a bit better about the $4600. That's pretty high considering 'where' I live. It's a pretty rural county but the subdivisions parcel of land that we moved into is one of the higher taxed parcels around.

I just look at it as 'oh well'....it's not like I have the option of not paying them....I mean I guess I could not pay them but I don't feel like dealing with the consequences of that. it is what it is....
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Offline kingshmegland

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Re: The Benefits of Home Ownership?
« Reply #147 on: September 02, 2017, 08:48:24 AM »
I have .98 acres and my taxes are about $4200.00.
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Offline ReaperKK

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Re: The Benefits of Home Ownership?
« Reply #148 on: September 10, 2017, 04:27:27 PM »
I haven't read the entire thread but we just built our house and got our property tax bill, we pay $2600 for .40 of an acre.

Offline Podaar

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Re: The Benefits of Home Ownership?
« Reply #149 on: September 11, 2017, 08:22:00 AM »
Gary,

Love the patio!

I spent a good portion of my summer covering my old cement patio with travertine tile.

Before:


After:

Offline cramx3

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Re: The Benefits of Home Ownership?
« Reply #150 on: September 11, 2017, 10:02:22 AM »
That looks nice, I just got a big chiminea from a family friend giving it away that I need to find a spot for

Offline gmillerdrake

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Re: The Benefits of Home Ownership?
« Reply #151 on: September 11, 2017, 12:08:32 PM »
Gregg....that is awesome!! The tile looks great and I especially like the half privacy/lattice/planter wall. Had thought of trying something similar on the one side of our patio but opted to go with planting some privacy bushes instead.
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Offline ReaperKK

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Re: The Benefits of Home Ownership?
« Reply #152 on: September 11, 2017, 07:37:55 PM »
That's really awesome! I'm hoping we can start at patio next spring.

Offline Podaar

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Re: The Benefits of Home Ownership?
« Reply #153 on: September 12, 2017, 08:20:20 AM »
Gregg....that is awesome!! The tile looks great and I especially like the half privacy/lattice/planter wall. Had thought of trying something similar on the one side of our patio but opted to go with planting some privacy bushes instead.

I had the pergola built about six years ago and then I built the planter that same summer. If you ever decide to build one yourself, talk with me. During the intervening years, I learned quite a bit on what not to do. Before we started in on tiling the patio, I spent a few weekends fixing structural weakness in the planter box. It would have been a lot easier to build it right the first time if I'd known what was going to happen over the years.

Privacy bushes are a great idea but you have to be committed to maintaining them. I put up the lattice to grow wisteria over it because I'm a lazy bitch.

Offline gmillerdrake

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Re: The Benefits of Home Ownership?
« Reply #154 on: September 12, 2017, 09:20:01 AM »
Gregg....that is awesome!! The tile looks great and I especially like the half privacy/lattice/planter wall. Had thought of trying something similar on the one side of our patio but opted to go with planting some privacy bushes instead.

I had the pergola built about six years ago and then I built the planter that same summer. If you ever decide to build one yourself, talk with me. During the intervening years, I learned quite a bit on what not to do. Before we started in on tiling the patio, I spent a few weekends fixing structural weakness in the planter box. It would have been a lot easier to build it right the first time if I'd known what was going to happen over the years.

Privacy bushes are a great idea but you have to be committed to maintaining them. I put up the lattice to grow wisteria over it because I'm a lazy bitch.


One Idea I had that I abandoned fearing it may look gaughty was in lieu of the half wall separating my yard from my neighbors I'd use a wood pergula to do so. Was going to go with stamped concrete as well with this option....See these drawings I worked up:

Plan View:



Elevation View:




But, materials alone for that were around $1500 and even though I have a good friend who is a Union Carpenter who said he and a laborer could build it for me with minimal $$ for labor....that'd still have been another $1000-1500. Ultimately I decided to go with the more traditional and 'safe' look of the half wall and plants.


Still need to mulch and put some finishing touches on landscaping but I got them planted





And we picked up some end of season outdoor patio furniture as well....'regular' price $1100 which we ended up getting for $400.



So, I'll try to continue to grow the grass back out with seed....it's coming in good (this pic is a week old) but if it isn't looking good next spring I'll get a pallet of sod and call it even.
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Offline Podaar

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Re: The Benefits of Home Ownership?
« Reply #155 on: September 12, 2017, 12:02:10 PM »
Looking great!! The evergreens are a nice choice since they're not likely to require much trimming.

I like your pergola design...I probably would have gone with that were I in your shoes. I like as much privacy as I can get away with so that when I'm reading the paper in the morning I can have my robe recklessly thrown open. Ventilation, you understand. Although, it does look like the pergola does quite close to your property line which could cause you difficulties later.


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Re: The Benefits of Home Ownership?
« Reply #156 on: September 17, 2017, 08:44:36 AM »
Late to say this...

Gregg....that is awesome!!

Gary... that patio is sweet.  Personally, I'd try and stick it out with soil/seed.  Sod can be a bitch to take, and if it doesn't, you're pooched for a real long time.  For us, the best time to lay it was in the late fall (at least that's the time here) ... when the over-night is really cool, and there's dew on the sod every single morning.  We did that when we dug up part of our backyard, and the sod took beautifully.  Otherwise, it's a bitch to try and keep it constantly moist.  Of course, it also depends on how the sun moves across your yard - our backyard is relatively shady in the fall.
I didn't know I could handle another 10 inches and it was rough but in the end I'm glad I did it.
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Offline kingshmegland

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Re: The Benefits of Home Ownership?
« Reply #157 on: September 17, 2017, 09:10:09 AM »
Yeah I'm against sod. you're better off renting an aerator in this rolling it around the area seed and then continually make sure that you're keeping it watered and I'll grow in
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Offline Phoenix87x

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Re: The Benefits of Home Ownership?
« Reply #158 on: September 17, 2017, 02:02:39 PM »
I am currently looking for my first place.

Its just me, so at this point I do not not a strait up house. But what do you guys think about condo vs townhouse. Pros? Cons?
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Offline ReaperKK

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Re: The Benefits of Home Ownership?
« Reply #159 on: September 17, 2017, 02:26:54 PM »
If it was just me living alone (no animals or anything like that) I could see myself in a townhome. It'd save so much on the upkeep

There is something nice about having a house though. I remember living in my apartment and hearing all kinds of noises around me and now that I hear nothing but silence it'd be hard to go back.

Offline cramx3

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Re: The Benefits of Home Ownership?
« Reply #160 on: September 18, 2017, 01:48:45 PM »
I am currently looking for my first place.

Its just me, so at this point I do not not a strait up house. But what do you guys think about condo vs townhouse. Pros? Cons?

You'll be paying an association fee which kind of sucks but has some benefits.  For one, you won't have to worry about the upkeep up the lawn and maybe get access to some shared facilities.  The negative is the rate is not negotiable, you'll be paying it monthly and you may be able to do everything they offer for you for cheaper on your own if you were able to.  For me, when I was looking between condos/townhouse/houses, the fees for a condo/townhouse is what really weighed negatively for me.  Some were up to 300 a month! No thanks.  However you'll have that for a condo or townhouse so one big difference between those two is how close do you like your neighbors?  A townhouse may come with a backyard/private garage and some more separation from your neighbors.

Offline Phoenix87x

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Re: I bought a home
« Reply #161 on: January 29, 2018, 06:02:00 AM »
Well, at age 30 I have finally bought my own home. Its been quite a whirlwind of paper work and moving and this and that. But I'm almost fully moved in at this point and I couldn't be happier. It is soooo nice to have your own place. Its a one bedroom, one bath condo that I got for $90,000   I love it.
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Offline gmillerdrake

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Re: The Benefits of Home Ownership?
« Reply #162 on: January 29, 2018, 06:32:55 AM »
Congrats! That’s exciting.
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Re: The Benefits of Home Ownership?
« Reply #163 on: January 29, 2018, 07:22:09 AM »
Congrats! That’s exciting.

+1.  Good on ya Phoenix.  How many square feet out of curiousity?
I didn't know I could handle another 10 inches and it was rough but in the end I'm glad I did it.
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Offline kaos2900

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Re: The Benefits of Home Ownership?
« Reply #164 on: January 29, 2018, 07:28:04 AM »
We're getting ready to put an offer in on our next, and probably last, house. Interesting timing for this thread to get bumped.   :biggrin:

Offline Phoenix87x

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Re: The Benefits of Home Ownership?
« Reply #165 on: January 29, 2018, 07:53:20 AM »
Congrats! That’s exciting.

+1.  Good on ya Phoenix.  How many square feet out of curiousity?

I think its like 664. When I get some time, I'll post some pics
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Offline lordxizor

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Re: The Benefits of Home Ownership?
« Reply #166 on: January 29, 2018, 07:53:24 AM »
I've been getting new siding and got a new roof last fall due to a hail storm last summer. What a colossal pain in the ass. Insurance is covering the majority of the cost, but we're upgrading the siding and doing a few other things that aren't covered. We've had to unexpectedly replace two doors that had water damage that won't be covered by insurance. I have the cash to cover the cost, but it's just a pain. Sometimes I really miss renting. Just call up the landlord and he'll take care of everything. Home ownership definitely has it's advantages, but I'm really on the fence about whether it's worth it. Financially it's definitely not as clear cut as people make you thing with "throwing your money away every month renting".

Offline cramx3

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Re: The Benefits of Home Ownership?
« Reply #167 on: January 29, 2018, 08:40:43 AM »
There's definitely ups and downs to both owning and renting.  Sometimes I wish I was renting as well to just call the landlord for issues that I now have to deal with (aka spend money on).  But, I think about all the positives and so far for me, it's still been a clear winner to own.  But I also have no plans on leaving, I think if I had thoughts about moving again, I'd probably just stick to renting.

Offline Chino

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Re: The Benefits of Home Ownership?
« Reply #168 on: January 29, 2018, 08:47:09 AM »
My biggest gripe with home owning is the fall cleanup. It takes a solid 3 or 4 saturdays in the fall, and at least 2 more come spring.

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Re: The Benefits of Home Ownership?
« Reply #169 on: January 29, 2018, 08:51:40 AM »
I'm guessing you have lots of trees?  I have not done a fall clean up ever since living in my house.  Just two trees (one small, one larger) on my property and it seems I never have have a leaf problem.  Some overgrown shrouds I can trim for an afternoon in the spring and I pay someone to mow/edge my lawn.  I used to do that myself, but after having my mower and trimmer both break multiple times, I just gave up and took the easy route.

Offline Chino

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Re: The Benefits of Home Ownership?
« Reply #170 on: January 29, 2018, 08:55:31 AM »
I'm guessing you have lots of trees?  I have not done a fall clean up ever since living in my house.  Just two trees (one small, one larger) on my property and it seems I never have have a leaf problem.  Some overgrown shrouds I can trim for an afternoon in the spring and I pay someone to mow/edge my lawn.  I used to do that myself, but after having my mower and trimmer both break multiple times, I just gave up and took the easy route.

I live on a small lot (.4 acres) and I have 9 oak trees on my property that are all 80+ years old. The amount of leaves they dump is truly rage inducing. This year I had my backpack leaf blower in one had and a handheld blower in the other. The biggest problem is that they hold onto their leaves for a really long time. It always snows before all the leaves fall off, and then I have to wait until spring to finish cleaning up.

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Re: The Benefits of Home Ownership?
« Reply #171 on: January 29, 2018, 09:01:46 AM »
I've been getting new siding and got a new roof last fall due to a hail storm last summer. What a colossal pain in the ass. Insurance is covering the majority of the cost, but we're upgrading the siding and doing a few other things that aren't covered. We've had to unexpectedly replace two doors that had water damage that won't be covered by insurance. I have the cash to cover the cost, but it's just a pain. Sometimes I really miss renting. Just call up the landlord and he'll take care of everything. Home ownership definitely has it's advantages, but I'm really on the fence about whether it's worth it. Financially it's definitely not as clear cut as people make you thing with "throwing your money away every month renting".

Really surprised to hear this - especially the financial thing.  Given the real estate market, owning vs renting is a no-brainer to me... especially since I now own my home.  No monthly payment, and I have a 6 figure asset after 20 years of paying.  If I had been renting, I'd have no asset and still be making monthly payments.  Considering my house has gone up in value by about 2.5x, it's a no-brainer.  As a long-term investment, there isn't much more of a sure thing than property (by-and-large)

@ Chino... I hear ya.  I don't have a lot now, but as a kid/teenager I grew up in a town called Oakville - and we backed on to a ravine.
I didn't know I could handle another 10 inches and it was rough but in the end I'm glad I did it.
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Offline Chino

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Re: The Benefits of Home Ownership?
« Reply #172 on: January 29, 2018, 09:05:58 AM »
I've been getting new siding and got a new roof last fall due to a hail storm last summer. What a colossal pain in the ass. Insurance is covering the majority of the cost, but we're upgrading the siding and doing a few other things that aren't covered. We've had to unexpectedly replace two doors that had water damage that won't be covered by insurance. I have the cash to cover the cost, but it's just a pain. Sometimes I really miss renting. Just call up the landlord and he'll take care of everything. Home ownership definitely has it's advantages, but I'm really on the fence about whether it's worth it. Financially it's definitely not as clear cut as people make you thing with "throwing your money away every month renting".

Really surprised to hear this - especially the financial thing.  Given the real estate market, owning vs renting is a no-brainer to me... especially since I now own my home.  No monthly payment, and I have a 6 figure asset after 20 years of paying.  If I had been renting, I'd have no asset and still be making monthly payments.  Considering my house has gone up in value by about 2.5x, it's a no-brainer.  As a long-term investment, there isn't much more of a sure thing than property (by-and-large)

@ Chino... I hear ya.  I don't have a lot now, but as a kid/teenager I grew up in a town called Oakville - and we backed on to a ravine.

Oakville CT?

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Re: The Benefits of Home Ownership?
« Reply #173 on: January 29, 2018, 09:10:33 AM »
Yea, that does sound miserable (cleaning up the leafs that is).

And damn Jingle, must be nice to free yourself from the mortgage. 

According to zillow, my house is worth 20% more than what I paid for it over the course of 4.5 years living there.  I only have a few investments, but my house is definitely one of them that really works well for me and my lifestyle.

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Re: The Benefits of Home Ownership?
« Reply #174 on: January 29, 2018, 09:22:14 AM »
Oakville CT?

No... never lived in the US.
I didn't know I could handle another 10 inches and it was rough but in the end I'm glad I did it.
warflwwcesfw.
That's meme-speak for "We are really f*****g lazy when we can't eve say full words".