Join Early Retirement Today
View Poll Results: Do you rent or own your principle residence?
I own my residence 173 88.72%
I rent my residence 22 11.28%
Voters: 195. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
Old 04-18-2011, 02:04 AM   #41
Recycles dryer sheets
Sandhog's Avatar
 
Join Date: Mar 2011
Location: Brooklyn, NY
Posts: 197
I used to own a house before my divorce. Now I rent small studio apartment just big enough to lie down to sleep and shower while working two jobs to pay for aftermath of divorce and save for my ER.
__________________

__________________
The time to take counsel of your fears is before you make an important battle decision. That’s the time to listen to every fear you can imagine! When you have collected all the facts and fears and made your decision, turn off all your fears and go ahead! – General George S. Patton
Sandhog is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-18-2011, 04:33 AM   #42
Full time employment: Posting here.
Moscyn's Avatar
 
Join Date: Mar 2009
Posts: 728
Own my residence. Used to have a holiday home which is not rented but realised that we only stay there one or two days a year and a lot of our relatives end up using the place, so sold that a couple of years back.
__________________

__________________
Moscyn is offline   Reply With Quote
Old 04-18-2011, 05:22 AM   #43
gone traveling
 
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,851
Quote:
Originally Posted by boont View Post
I have a house in San Francisco and another one in the wine country, about two and a half hours north of the City. I also have some other residential properties in Sacramento.
Nancy Pelosi - is that U? ...
__________________
rescueme is offline   Reply With Quote
Old 04-18-2011, 05:32 AM   #44
Full time employment: Posting here.
 
Join Date: Dec 2010
Posts: 746
Quote:
Originally Posted by JmfromTx View Post
My wife was the same way and that's why I'm sitting where I am instead of getting things ready to go to work tomorrow.
Long before my retirement I had friends who would trade in their two year old cars for a new one while I kept my paid-for 10 year old car. My friends would gently chide me that I deserved a new car.

I had several co-workers come to work on Mondays wearing new clothes and shoes. They bought new clothes because they felt they worked hard and deserved it. I had three pair of slacks, five shirts, two pair of shoes (black and brown) as my work clothes. They just didn't understand why I would be such a minimalist.

Several of my friends felt the need to move every few years and they always took out another 30 year mortgage. They just couldn't understand why I would choose to live in the same house in the neighborhood. They said I deserved a bigger house.

My co-workers would eat in the company cafeteria every day while I brown-bagged. They felt sorry for me because I obviously couldn't afford to buy my lunch.

Lots of my friends ate out several times during the week. They didn't understand why I stayed home and had meals from the seal-a-meals in my freezer. They said I worked hard and I deserved a treat.

When I retired at 55, these same friends were incredulous that I would take such a risk. After all, if they couldn't afford to retire, how could I? I told them I worked hard, saved hard, and I deserved it.

Fast forward five years. They're still working. They still have little saved. They still consider my financially comfortable retirement as "lucky".
__________________
East Texas is offline   Reply With Quote
Old 04-18-2011, 06:12 AM   #45
gone traveling
 
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,851
Quote:
Originally Posted by East Texas View Post
Fast forward five years. They're still working. They still have little saved.
Because they "deserved it"? ...
__________________
rescueme is offline   Reply With Quote
Old 04-18-2011, 08:35 AM   #46
Recycles dryer sheets
Jake46's Avatar
 
Join Date: Sep 2006
Location: Fort Collins
Posts: 194
I own. Paid off the mortgage in 2002. Great feeling.
__________________
Jake46 is offline   Reply With Quote
Old 04-18-2011, 09:14 AM   #47
Full time employment: Posting here.
 
Join Date: Jan 2011
Posts: 575
Quote:
Originally Posted by East Texas View Post
I had three pair of slacks, five shirts, two pair of shoes (black and brown) as my work clothes.
Why do you need 2 pairs of shoes? Black goes with anything.
__________________
KingB is offline   Reply With Quote
Old 04-18-2011, 09:32 AM   #48
Dryer sheet aficionado
Dranoel's Avatar
 
Join Date: Jan 2007
Location: Full Time RVer
Posts: 27
Sold the house and contents about a year ago. Happily renting in Costa Rica ever since.
__________________
Dranoel is offline   Reply With Quote
Old 04-18-2011, 09:38 AM   #49
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
 
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,017
Own the first house I ever bought (1984). No mortgage as of 1998.

Currently doing a very loose cost/benefit analysis of staying in the house and/or the area. No rush decisions, looking at a 4 year plan, maybe less.
It is a beautiful house and requires very little maintenance, but things like school taxes doing an upward creep, the distance from services, and just plain the desire to live somewhere different are being to "force" us to arrive at a stay/go decision.
Mr B is in "stay" mode right now pending the outcome of his VA VR&E counselor making a decision whether to fund continuing education for him.
I'm in "undecided" mode.
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote
Old 04-18-2011, 10:39 AM   #50
Thinks s/he gets paid by the post
Rustic23's Avatar
 
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 3,624
I put I own it, however, considering the property taxes in Texas, you might say I rent it.
__________________
If it is after 5:00 when I post I reserve the right to disavow anything I posted.
Rustic23 is offline   Reply With Quote
Old 04-18-2011, 10:54 AM   #51
Thinks s/he gets paid by the post
GregLee's Avatar
 
Join Date: Oct 2010
Location: Waimanalo, HI
Posts: 1,881
Since I am irrationally debt averse, I put off buying for a long time, and when I did buy, I made as large a down payment as I could. That left a 10 year mortgage, which made me uncomfortable for that decade, but now that's paid off, and I'm feeling much better. The house is old and in poor condition, but the location is great, and I expect to just stay here.
__________________
Greg (retired in 2010 at age 68, state pension)
GregLee is offline   Reply With Quote
Old 04-18-2011, 11:54 AM   #52
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,528
We own outright, no mortgage. When I retired we sold the paid-for house and wrote a check for the new one in WV. There was enough left over to write two more checks, one for a new pickup truck to replace the 18-year-old truck, and one to replace DW's 14-year-old car.

I'm pretty sure I'll never again pay cash for a new house, a new pickup truck, and a new car all within six months.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 04-18-2011, 12:08 PM   #53
Thinks s/he gets paid by the post
vicente solano's Avatar
 
Join Date: May 2009
Posts: 1,116
She owns a flat and a country house. I own a flat. The three mortgages almost paid off.
__________________
I get by with a little help from my friends....ta ta ta ta ta...
vicente solano is offline   Reply With Quote
Old 04-18-2011, 12:32 PM   #54
Recycles dryer sheets
In-control's Avatar
 
Join Date: Mar 2007
Posts: 319
We have been debt free, owning our house since 2007. We ran w/o debt for 1 yr before ER. We will be selling when the kids are done with college and most likely rent in the area we want before buying a condo.

It is very liberating being debt free. The $ that was paying down the debt went right into investments.
__________________
Just Trekking thru!
In-control is offline   Reply With Quote
Old 04-18-2011, 12:51 PM   #55
Recycles dryer sheets
Retch The Grate's Avatar
 
Join Date: Jul 2010
Location: Mountain View
Posts: 252
Single in Silicon Valley so I'm still renting. Prices continue to be way out of line with rents.
__________________
Retch The Grate is offline   Reply With Quote
Old 04-18-2011, 02:19 PM   #56
Thinks s/he gets paid by the post
Keim's Avatar
 
Join Date: Feb 2007
Location: Moscow
Posts: 1,128
Funny how your eyes sometimes see things wrong. I read the comment below as "We will be selling the kids when done with college," and thought to myself "Why not before? Save a lot of money."

Quote:
Originally Posted by In-control View Post
...will be selling when the kids are done with college...
__________________
You can't enlighten the unconscious.
But you can hit'em upside the head a few times to make sure they are really out...
Keim is online now   Reply With Quote
Old 04-18-2011, 04:08 PM   #57
Full time employment: Posting here.
 
Join Date: Jan 2007
Location: Thousand Oaks
Posts: 839
Quote:
Originally Posted by Purron View Post
Own. DH and I have become too funky in our old age for landlords to put up with us.
__________________
mh is offline   Reply With Quote
Old 04-18-2011, 04:50 PM   #58
Full time employment: Posting here.
 
Join Date: Dec 2010
Posts: 746
Quote:
Originally Posted by Rustic23 View Post
I put I own it, however, considering the property taxes in Texas, you might say I rent it.
Now see, that's the advantage of living on a ranch. My property taxes in San Antonio for my moderately assessed house and the small parcel of land on which it stood - within about 12' of my neighbor - was about $3,000 a year. We pay about $750 a year for the 100 acres and that includes the one acre homestead and several outbuilding.

Before any of you get upset about ag exemptions - be thankful for them. They keep the prices of commodities low. If I didn't have the exemption on the hay meadow, I'd have to charge the rancher who mows and bales it significantly more and that increase gets pushed all the way down to the consumer. It's not just my increase, if the rancher didn't have an ag exemption for the cattle, your cost to purchase that nice steak would increase in multiples more than my piddling little increase. It's the same with our timber - ag prices keep lumber costs low. I know it's easy to complain about the rising prices; they would be much higher without ag exemptions.

Quote:
Originally Posted by KingB View Post
Why do you need 2 pairs of shoes? Black goes with anything.
I bought the black pair and got the brown pair half off. They're identical except for color. Brown goes much better with tan slacks. I've had these shoes for over 20 years. Every now and then they get half-soled and heeled. Now I only wear them to church and official family functions that require something other than jeans.

Now that I'm retired, I usually wear workbooks or Mucks. I do have two pair of jeans. I guess I'm stepping up the world - three pair of slacks and two pairs of jeans. The closet certainly is getting crowded.
__________________
East Texas is offline   Reply With Quote
Old 04-18-2011, 05:02 PM   #59
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,094
Quote:
Originally Posted by East Texas View Post
We pay about $750 a year for the 100 acres and that includes the one acre homestead and several outbuilding.
Yep, property taxes are low for Texas tick and chigger ranchers...

Quote:
Originally Posted by East Texas View Post
Now that I'm retired, I usually wear workbooks or Mucks.
Guess you switch over to the Mucks when the pages wear out?
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 04-18-2011, 05:03 PM   #60
Full time employment: Posting here.
Calgary_Girl's Avatar
 
Join Date: Jun 2004
Location: Calgary
Posts: 775
We've been mortgage-free for almost 10 years. The past few months however, we've been thinking of building a slightly bigger house which would be our dream house and also give us more room for the kids.

We can afford to build the house outright but would have to use some money from our taxable portfolio. Our dilemma is 1) do we take out a mortgage for approximately $200K, or 2) do we cash in some of our taxable portfolio knowing that we'd pay capital gains and give up a higher dividend yield than what the new mortgage rate would be?

I'm leaning towards the former...decisions, decisions.
__________________

__________________
I can only be nice to one person today! Today is not your day...tomorrow doesn't look good either.
Calgary_Girl is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Poll. Own or rent in retirement? honobob Other topics 30 12-02-2007 09:28 AM
What major luck have you had? figner Other topics 26 03-25-2007 11:52 AM
rent stabalization and rent control mathjak107 Other topics 2 04-10-2006 05:56 PM
Primary residence ER@40 Life after FIRE 8 06-29-2005 12:15 AM
Does your spouse have different residence? Ricky Jay Other topics 0 04-29-2004 05:19 PM

 

 
All times are GMT -6. The time now is 12:21 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.