Thanks for sharing this Susan, love how passionate you are :)

“please take care of your unique, precious selves.” <-- YES!! Especially in times like these!

If you’re a highly sensitive person like me being subjected to the CONSTANT judgment and oneupmanship in this life, you WILL suffer. As the Buddha said, life is suffering. You heard it here though – from a single, unmarried childless non-materialistic woman pushing 60 – if you don’t do what EVERYONE ELSE is doing, they’re going to let you know. They WILL NOT stop giving you unsolicited advice in one way or another that you need to keep the eff up. WHY? They are deeply insecure and they do this to make themselves better. Most people are insecure – to be human is to be insecure. An old friend who sadly passed at age 55 a few years ago said it best: “There are two kinds of people. People who are insecure, and people who think they are not.”

I have one good home “owner” friend who gets it. She freely admits she and her husband rent their house from the bank and they “throw away” $900 a month to interest on their mortgage. No one screams at them that they throw their money away on mortgage interest and that her house will end up costing her double what she paid for it. Nope, they “own”, they are building EQUITY so they are BETTER than me, a lowly renter. A lowly renter worth over one million green backs.

It will never stop, until I’m in a house or a condo that meets the expectations of others. Then the pressure to renovate and decorate to THEIR standards will start. The Joneses are truly miserable people and they are not going away quietly. Good luck to all, please take care of your unique, precious selves. Living in this competitive, materialistic consumer society is an increasingly brutal blood sport. And everyone wonders why the suicide rate has gone through the roof!

Don’t forget about the personal preferences too :) Some people like the freedom of not owning and prefer to rent even if they can afford to buy, and vice versa with those who love the stability of buying. As long as you’re weighing both options for yourself though (emotional + financial) and doing what’s best for YOU, it’s all good in my books. It’s when outside parties keep trying to push you in directions that make you feel uncomfortable that it gets troublesome – whether they have good intentions or not.

My wife and I live in a nice part of California. There are very few rentals available. Those in the ghetto have hordes of low income people waiting to occupy a 2-bedroom home with 10 people. Thus, paying $2,600 rent is quite affordable. In the better parts of the region, the same house costs $3,000 rent. Buying it results in a $3,000 mortgage, all in. So renting costs the same as buying. Therefore, only people who have no money for a down payment or really bad credit rent instead of buying.

We bought our home for $555,000, which is a notch above entry level, but not much. Our neighbors bought their house, pretty similar to ours, 15 years ago for $199,000. It’s paid off.
Should they have rented instead?

Consequently, in most situations buying is a better financial situation than renting, and owning a home can be a substantial part of a financial plan. However, if I could rent my house for $1,500 instead of paying a $3,000 mortgage, I would rent as well and put the remaining $1,500 into retirement.

Great breakdown- yes!!

I love vacation. I love seeing different cultures. I love talking to people about their experiences and seeing amazing places, and having new and different experiences for myself. I love hiking and rafting in giant mountain ranges, trophy fishing, snow skiing, and swimming beneath giant waterfalls. If there is some great place you’ve been, I’d like to hear about it. Don’t know if that is shaming. If you happen to live in a place like Yosemite, I’d probably never leave either.

1. Buying long term is cheaper than renting, which is true in most places but not everywhere
2. You plan on never moving from your current location, at least for 5+ years, otherwise you are likely to lose all and maybe more of your equity to transaction fees
3. You got kids, particularly those in school, where apartment living is way less ideal
4. You never plan on requiring a bigger house, I.e. No more kids or need for extra bedrooms
5. You really want a yard and residence you can fashion to your own desires

Oh man, you guys are going to feel sooooooo free when she’s gone! And good thing you’ll be traveling to keep your mind off missing her too much, haha… (my 4 and 5 y/o told me over the weekend they are living with us forever and never leaving, but if only it was true! ;))