I personally hate the day-to-day parts of home ownership. The only thing I like is the locked-in payments that get lower and lower each year, due to inflation, and building some equity over time. But the amount of time and money I spend on house projects could easily shift into making more money or doing things that bring me joy (house projects do not). If it wasn't so important to my wife, I don't think I'd own a home... maybe I'd own multiple as rentals if I could afford a team to manage them though. Ha.
I hear ya. I need to look up again and talk about here the sunk costs and costs over time that tend to bring down the long term literal financial gains of many homes. The reasons I joke about them being more like long-term, low interest savings accounts. That's what mine was for me, but to your point, the low, regular monthly payment was key in the growing market I lived in. Much like the conversation about how much a person who stays at home to take care of the family and home deserves a huge salary, it makes me wonder what kind of "hourly rate burn" is on working on home chores and projects for the benefit of that locked-in payment and other upsides. Thanks!
I personally hate the day-to-day parts of home ownership. The only thing I like is the locked-in payments that get lower and lower each year, due to inflation, and building some equity over time. But the amount of time and money I spend on house projects could easily shift into making more money or doing things that bring me joy (house projects do not). If it wasn't so important to my wife, I don't think I'd own a home... maybe I'd own multiple as rentals if I could afford a team to manage them though. Ha.
I hear ya. I need to look up again and talk about here the sunk costs and costs over time that tend to bring down the long term literal financial gains of many homes. The reasons I joke about them being more like long-term, low interest savings accounts. That's what mine was for me, but to your point, the low, regular monthly payment was key in the growing market I lived in. Much like the conversation about how much a person who stays at home to take care of the family and home deserves a huge salary, it makes me wonder what kind of "hourly rate burn" is on working on home chores and projects for the benefit of that locked-in payment and other upsides. Thanks!