Another chilly start around 45°! I love this weather, and it almost makes our hot humid days worth it to be able to fully appreciate the difference.
Columbus Day did not keep the garbage trucks from rolling down the street this morning. He gets no respect around here. Aretha Franklin did not have him in mind with her song.
Killed 1 mosquito, 2 moths, and a centipede-kind of bug on bathroom tiles, took a shower, now I’m making coffee.
Another Monday has arrived. And two more days before the 2nd cataract surgery.
But it is foggy and we’re finally going to be back down to cooler temps today.
Not sure what I’m doing today but I am tentatively planning to cover an event onboard the Iowa — unless there are local assignments being handed out today related to vigils, rallies, etc., connected to this rather major crisis that’s erupted in the Middle East. -dj
Thanks, everyone. We’re spending this Thanksgiving Day rototilling the garden (Tim) and sorting Christmas/winter lights and deciding where they will go outside this year (me). So thankful for beautiful warm weather to do all this. Much better than trying to put up and wrap lights in super freezing weather.
I’m still trying to dry marigolds so that I can make the oil infusion – apparently they need to be completely dry – it’s taking a long time and the smell, while not bad, is nauseating to me. Especially since I’m still not feeling 100%. They did not need to be dried for the salve I made on Saturday.
For many years, it has been said that owning a home is preferable to renting. An argument I heard recently was along these lines: Houses seem to always be in need of one kind of repair or other, often very expensive repairs such a new roof, repair from water leaks/damage, porches needing to be rebuilt, etc. Look at all the work DJ has had to put into her house over the past several years. (And you all know that my own house is in need of too many repairs.)
There is also the matter of replacing appliances and water heaters and whatnot as the years go by.
The point was made that in renting, those repairs and replacements are paid for by the owners, and that even a relatively high rent is less expensive than the money that eventually goes into maintaining a house.
What is a good argument for continuing to put all of that money into a house over the years rather than renting? (If you think that I have more than a casual interest in this matter, you are correct. 🙂 )
Kizzie, it seems to me that the owner of a rental has to build those costs into the rent in order to make any money from the rental, so even a renter must be paying those costs, though indirectly. You just get the costs spread out evenly every month instead of getting hit with them all at once.
My brother is selling the house we grew up in after we moved to town. He bought it from my dad, his family lived there, then used it as a rental. The time and cost of repairing after the renters left was just too high.
Advantages of owning over renting? It might turn out to be appreciation of the property value as has happened here unexpectedly. Also, one has more choice as to what to do with the outside property. The indoor property can be added onto as needs arise. In general the typical owner has more freedom to do as one wishes. The owner also can use the property to get funding for other things such as money for college, etc., by taking out a second mortgage. An owner can sublease whereas many apartment leases do not allow that. Those are a few reasons that owning might turn out to be preferable, but each person’s needs is so individual that it takes a lot of analysis to get a proper perspective on it all. From a tax point of view, Art’s final question might be, “Does it make you happy?” How much is that worth? Some people are happier being known as an owner rather than a renter. What is that worth?
I suppose if a friendly landlord owned the property outright and wasn’t paying a mortgage on it, and if they’d give you a good deal on the rent below market rates, so they’re just covering their maintenance costs and a little extra for income, your rent could be a lot less than a mortgage. But I’ve always assumed that market rates for rentals are covering the costs of the landlord’s mortgage.
If you’re already making mortgage payments and they’re the equivalent of what you would pay in rent, it’s important to work through all the numbers–if you sell your house what exactly would you recoup, if anything?
It’s a major scrub of your budget with a close look at taxes (I know you live in a high tax state), and the quality of your life.
In your case, I’d think that being in an apartment that allows you to get out of the house and explore your community, might be a personal advantage–particularly if you could find a place to rent near your church.
If you have a limited income, you might be able to find an apartment that is partially subsidized. In my community, the wait list for such an apartment is 7 years.
When you rent an apartment, you have to take into account you have no control over your neighbors, you usually cannot paint, people will live closer to you and may complain more.
I haven’t lived in an apartment in a long time, but not all have washer and dryers in the unit.
Apartments or rental houses work really well for many people.
I think it’s a wise question to ask, Kizzie.
You might start by asking a real estate agent to examine your house and give you an honest assessment of the value of your house. I’d go with someone I trusted, and if I don’t know anyone, ask your pastor to make a suggestions of someone he would use himself.
I like it where I am and my home is now paid off. The way rent is around here, I could not afford to live here without owning. And of course the value of my home has gone up.
jo
I would like to stay in my home as long as possible. We built this home around 46 years ago. We have a lot of sweat equity into it. We are at an age where we talk to many who have left homes because they can no longer care for them or for similar reasons. I hear all kinds of complaint from those who have moved into apartments.
A lot depends on the landlord and kind of neighbors they have. Loss of space is another problem. Not having to maintain the place can be good and bad. You don’t have to do it, but will it be done in a timely and good manner? Are you still going to get the exercise that some of that maintenance gives you? Do you like to garden and cannot do that type of thing in an apartment. Do you want a private yard for a child to be able to go out and play in?
I know some landlords regularly inspect apartments. Will that bother you?
The value of our home has more than quadrupled. We have no house payment anymore. Electric, insurance and all that still increase, of course. With inflation, rents can go up a whole lot. If you are in a place with partly subsidized housing, there are lots of rules that go with that. Again, you are at the mercy of a landlord, so to speak.
Each type of housing can be the right kind at any one time. There are a whole lot of factors to consider. Generally, the equity in a home has been one of the main ways to grow an estate or inheritance.
The sliding scale Baptist retirement home near us could not be maintained on their limited budget so they sold to a for profit landlord. Many people had to scramble to find new affordable housing. I know of two people who could afford the tremendous increase in rent. So many could not.
I just heard from my 93 y/o friend. She said that she and the other grandmother of an engaged couple will be flower grannies at the wedding Saturday. Isn’t that the cutest? Something new under the sun to me😀
Wandering Views 
Happy Thanksgiving to our Canadians!
Good morning to all.
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Happy Thanksgiving to Kare and Roscuro!
Another chilly start around 45°! I love this weather, and it almost makes our hot humid days worth it to be able to fully appreciate the difference.
Columbus Day did not keep the garbage trucks from rolling down the street this morning. He gets no respect around here. Aretha Franklin did not have him in mind with her song.
LikeLiked by 1 person
Another beautiful bird capture, AJ. What kind of bird is that one?
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Female blackbird I believe….
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Morning!
Happy Thanksgiving to our northern neighbors!
Love that bird up there! She appears to have spectacles upon her beak!
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Good morning, all, things are rolling here, I need to run to catch up.
mumsee
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Happy Thanksgiving Canadians!
Killed 1 mosquito, 2 moths, and a centipede-kind of bug on bathroom tiles, took a shower, now I’m making coffee.
Another Monday has arrived. And two more days before the 2nd cataract surgery.
But it is foggy and we’re finally going to be back down to cooler temps today.
Not sure what I’m doing today but I am tentatively planning to cover an event onboard the Iowa — unless there are local assignments being handed out today related to vigils, rallies, etc., connected to this rather major crisis that’s erupted in the Middle East. -dj
LikeLiked by 2 people
Some days just start out violent around here. -dj
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Cataract surgery ought to clear the fog.
mumsee
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Thanks, everyone. We’re spending this Thanksgiving Day rototilling the garden (Tim) and sorting Christmas/winter lights and deciding where they will go outside this year (me). So thankful for beautiful warm weather to do all this. Much better than trying to put up and wrap lights in super freezing weather.
I’m still trying to dry marigolds so that I can make the oil infusion – apparently they need to be completely dry – it’s taking a long time and the smell, while not bad, is nauseating to me. Especially since I’m still not feeling 100%. They did not need to be dried for the salve I made on Saturday.
LikeLiked by 3 people
Happy Thanksgiving, Canadian Wanderers!
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A question that was brought up to me:
For many years, it has been said that owning a home is preferable to renting. An argument I heard recently was along these lines: Houses seem to always be in need of one kind of repair or other, often very expensive repairs such a new roof, repair from water leaks/damage, porches needing to be rebuilt, etc. Look at all the work DJ has had to put into her house over the past several years. (And you all know that my own house is in need of too many repairs.)
There is also the matter of replacing appliances and water heaters and whatnot as the years go by.
The point was made that in renting, those repairs and replacements are paid for by the owners, and that even a relatively high rent is less expensive than the money that eventually goes into maintaining a house.
What is a good argument for continuing to put all of that money into a house over the years rather than renting? (If you think that I have more than a casual interest in this matter, you are correct. 🙂 )
LikeLiked by 2 people
Kizzie, it seems to me that the owner of a rental has to build those costs into the rent in order to make any money from the rental, so even a renter must be paying those costs, though indirectly. You just get the costs spread out evenly every month instead of getting hit with them all at once.
(But I’m no real estate expert.)
LikeLiked by 3 people
My brother is selling the house we grew up in after we moved to town. He bought it from my dad, his family lived there, then used it as a rental. The time and cost of repairing after the renters left was just too high.
mumsee
LikeLiked by 2 people
Advantages of owning over renting? It might turn out to be appreciation of the property value as has happened here unexpectedly. Also, one has more choice as to what to do with the outside property. The indoor property can be added onto as needs arise. In general the typical owner has more freedom to do as one wishes. The owner also can use the property to get funding for other things such as money for college, etc., by taking out a second mortgage. An owner can sublease whereas many apartment leases do not allow that. Those are a few reasons that owning might turn out to be preferable, but each person’s needs is so individual that it takes a lot of analysis to get a proper perspective on it all. From a tax point of view, Art’s final question might be, “Does it make you happy?” How much is that worth? Some people are happier being known as an owner rather than a renter. What is that worth?
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I imagine Kim could give you a whole lot more reasons😀
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I suppose if a friendly landlord owned the property outright and wasn’t paying a mortgage on it, and if they’d give you a good deal on the rent below market rates, so they’re just covering their maintenance costs and a little extra for income, your rent could be a lot less than a mortgage. But I’ve always assumed that market rates for rentals are covering the costs of the landlord’s mortgage.
Yes, I’d love to see what Kim has to say.
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An excellent question, Kizzie.
https://www.fidelity.com/viewpoints/personal-finance/rent-vs-buy
If you’re already making mortgage payments and they’re the equivalent of what you would pay in rent, it’s important to work through all the numbers–if you sell your house what exactly would you recoup, if anything?
It’s a major scrub of your budget with a close look at taxes (I know you live in a high tax state), and the quality of your life.
In your case, I’d think that being in an apartment that allows you to get out of the house and explore your community, might be a personal advantage–particularly if you could find a place to rent near your church.
If you have a limited income, you might be able to find an apartment that is partially subsidized. In my community, the wait list for such an apartment is 7 years.
When you rent an apartment, you have to take into account you have no control over your neighbors, you usually cannot paint, people will live closer to you and may complain more.
I haven’t lived in an apartment in a long time, but not all have washer and dryers in the unit.
Apartments or rental houses work really well for many people.
I think it’s a wise question to ask, Kizzie.
You might start by asking a real estate agent to examine your house and give you an honest assessment of the value of your house. I’d go with someone I trusted, and if I don’t know anyone, ask your pastor to make a suggestions of someone he would use himself.
#Formerbudgetcounselor
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I like it where I am and my home is now paid off. The way rent is around here, I could not afford to live here without owning. And of course the value of my home has gone up.
jo
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I would like to stay in my home as long as possible. We built this home around 46 years ago. We have a lot of sweat equity into it. We are at an age where we talk to many who have left homes because they can no longer care for them or for similar reasons. I hear all kinds of complaint from those who have moved into apartments.
A lot depends on the landlord and kind of neighbors they have. Loss of space is another problem. Not having to maintain the place can be good and bad. You don’t have to do it, but will it be done in a timely and good manner? Are you still going to get the exercise that some of that maintenance gives you? Do you like to garden and cannot do that type of thing in an apartment. Do you want a private yard for a child to be able to go out and play in?
I know some landlords regularly inspect apartments. Will that bother you?
The value of our home has more than quadrupled. We have no house payment anymore. Electric, insurance and all that still increase, of course. With inflation, rents can go up a whole lot. If you are in a place with partly subsidized housing, there are lots of rules that go with that. Again, you are at the mercy of a landlord, so to speak.
Each type of housing can be the right kind at any one time. There are a whole lot of factors to consider. Generally, the equity in a home has been one of the main ways to grow an estate or inheritance.
LikeLiked by 3 people
The sliding scale Baptist retirement home near us could not be maintained on their limited budget so they sold to a for profit landlord. Many people had to scramble to find new affordable housing. I know of two people who could afford the tremendous increase in rent. So many could not.
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Our retirement home is our small house next to daughter. When we can no longer maintain this, we plan to go there. Plans are subject to change.
mumsee
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Kizzie, do any of these comments resonate with your thinking on the matter?
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I just heard from my 93 y/o friend. She said that she and the other grandmother of an engaged couple will be flower grannies at the wedding Saturday. Isn’t that the cutest? Something new under the sun to me😀
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Janice – Yes, the replies I have been given have been along the lines that I have already been thinking.
I would love to be a flower granny someday! 🙂
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