Admittedly, this is not a new idea. We had a whole national economic collapse over this very issue! Still, any time you get around a group of people of "a certain age" and "a certain income" (30something, making enough money not to qualify for food stamps), talk will inevitably turn to "buying a place" in order to "stop throwing money away on rent" and "get some space for the kids." (We hate your kids also, but that is a separate topic.)
Purchasing a home is fundamentally an economic decision. Economics is a rational science. Let's put aside emotion and sentimentality and take a hard but fair look at the pluses and minuses of buying rather than renting.
- More space to spread out your growing pile of bills.
- You get the satisfaction of paying to fix every little thing that breaks, not asking a "landlord" for a handout.
- A debt that will take you 30 years to pay off, just like a real adult.
- Don't have to worry about pesky "freedom" any more.
- Maybe when you die, your kids will make a little money selling it, or not.
- You can paint it.
Now, The Minuses:
- Recent economic history.
- You can't afford it.
- Shit is a hassle.
Buying a home is for old people, with stable incomes, who don't have anywhere better to go, because they've decided to exchange life's sense of possibility and wonder for "a lawn." A lawn, people. Sometimes not even that. Sometimes just the idea of moving up to a place with a lawn, later in life.
Lawns are not worth it.
[Photo via Vagabond Shutterbug/Flickr]