Just curious, if you own or rent your residence!

Sometimes, owning your home could be pretty expensive, and at other times you may get away with some really low rents for a comfortable living!!

 

Own.

About 4 1/2 acres in the Arizona SW a few miles from the Colorado River. We went into halves with a partner as originally it was 9 1/2 acres who helped us get it. We put down the earnest money and he came up with the rest of the downpayment of $2000. The total price was $7000. No buildings, no well, no septic at first. But we lived on a mining claim at the time and this was our first owned property.

Anyway, got it paid off well within the five year limit. Septic tank was installed right after we moved down from the mine. Had the power pole installed before that. My husband's father, Eddie, was living with us on the property in his own trailer (back half) After moving down from the mine, he was worked for a local welldriller and he let Eddie use the rig along with casing/pump for our own well. Up to this point, a friend let us take and haul water until the well was finished.

After the land was paid off ....largely by us.....we split the 9 1/2 acres with the partner. We have our shop, office, homes, animals pens and a few other small buildings. The biggest expense (outside of shop expenses) is the monthly electric bill from APS (Arizona Public Service), telephone bills and what property taxes required. Last year, it was around $200.

 

Currently rent the property I live iin the majority of the time.
Once I finish college (finally) I hope to be able to afford to purchase a house.

 

I bought my house in 1992. I have 33 more notes & its mine.

 

I'm renting right now. Most new homes in my area of the 'burbs are starting in the 300s, and I'm not in that range yet. I'm also only 24, which makes suburban living a little tougher. I have all of my friends in the city, and I enjoy a few beers over the weekend...everything in Jersey is driving, so if I stay in the City, I can walk home. (Yes...I just justified renting through alcohol consumption). It's probably only a shade less expensive if it is atall, but I'd rather be in the city and renting than owning in suburbia.

 

We own but we need to own bigger . When we bought the house, my wife was still in college and we only had 1 child. We had twins about 7 months after she graduated. We did buy 3.4 acres by the lake last yr. Now we are just trying to save money so we can start building. We also have to agree on a design.

 

Own. I just sold (have a contract not settled yet) for a 103k profit in just 6 years and will be moving to Lancaster PA. I know that prices are crazy but owning is the best way to go. If only for the tax breaks. I rented for 11 years.

 

My fiance and I own a 1000sf ranch, with finished basement. I hate the idea of renting, unless i'm the landlord.

We also loked at townhomes, They were newer than our house, but smaller, the same price and association fees were 120-150 a month (I enjoy cutting my own grass)

 

Own. This is actually our second house. Never have rented I think it is a waste of money, but I know some people sometimes can't afford anything else. Our first house wasn't that big but it was nice. Our current home is just about right there are a few things we would like to do but we have plenty of time.

 

I own...or I am paying off my loan, on my house. The 2 acres it sits on are mine, having paid that loan off when the last house was sold 7 years ago.

 

I am currently renting. I also hate the idea of it but I messed up my credit at an early age and am only 23. In the next couple years we will be looking at buying but we have to agree on location first.

 

OWN. In October it'll be a year. Got in at a good time in my area. The prices in this town are skyrocketing due to a fast growing economy. We've already gained $20,000 in sweat equity. My mortgage payment is cheaper than a comparable house's rent payment. It's all about priorities.

 

We own also, and looking to some land that looks out to the
great north west with seattle in the backround 28 acres septic
water power 139 grand just in the foothills outside of enumclaw.
And the good part i can turn around and sell off 20 acres and pay
for it. The hardest part is getting the wife to buy into the idea.

 

I live in an area where in order to afford a house that sells at the median price, I need to make $150,000 a year.

I rent.

 

I was in the early days of computers when there was a big demand for my services so I relocated numerous times. At each new town, I would buy the biggest house I could afford, assuming I would prosper and the house would appreciate (a tactic I would not employ today). My usual contract was for 2/3 years and I would sell at a good profit and do it all over again in the next town. After 16 years of this (and kids), I decided to put down some roots and purchased my current house. 35 years ago I purchased the 4-bedroom brick for $49,500 with $17,000 down. The house and I are still standing straight, but the house hides it's age much better than I do.
Dono