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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%
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Poll-Do You Rent or Own Your Major Residence?
Old 04-17-2011, 02:19 PM   #1
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Poll-Do You Rent or Own Your Major Residence?

We have had threads about this, but I do not remember a poll.

So- do you rent or own? Elaborate all you want in postings, but to keep it simple I have just 2 categories-rent, or own one's main residence.

If you rent in the city near your job, but will soon move to an already owned residence, for example during a pending retirement, count it as "own" I should think.

Ha
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Old 04-17-2011, 02:37 PM   #2
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I own a condo. In retirement I plan to keep my condo and rent half the year in Florida.
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Old 04-17-2011, 02:51 PM   #3
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Owned from 1993 to 2006 (well, moved to rented house in 2006, didn't complete sale of the house until the first week of 2008, sold it for less than we'd been offered because everyone including the agent told us there would be no trouble to get a better offer).

In no hurry to own again. Our retirement plans call for an apartment in a city, so we should have plenty of choice of rentals. We will probably only buy somewhere if it makes sense in terms of % of the portfolio immobilised vs the SWR which that could bring.

Currently we are renting a 4-bedroom home with basement and yard which would cost a minimum of 500,000 Euros to buy; we are paying less that 20,000 Euros a year in rent. We may downsize once kids are no longer coming home from college: this week DD has had 4 friends staying, next weekend DS arrives with 5 others.
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Old 04-17-2011, 02:51 PM   #4
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I own it. But then I usually rent a place to park it for three to ten days at a time.
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Old 04-17-2011, 02:52 PM   #5
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I would have never entered retirement with a mortgage. I paid off the house in the megacity in 12 years by living way below my means and long before I retired. The ranch was a cash purchase. Sold the house in the megacity and used that money for improvements at the ranch.

I am probably the most debt adverse person you'll ever meet.
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Old 04-17-2011, 03:05 PM   #6
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I owned my principal residence from 1997 - 2001, sold at a profit, then noticed that house prices were still going up swiftly. Bought 3 houses, rented them out and then sold them after a year or so, just before the peak of the market. Put the money in the bank and have rented the places I live in ever since.

I doubt that I will ever buy property again, though would never say never. I'm more interested in buying something on wheels at this point.
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Old 04-17-2011, 03:08 PM   #7
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We own our home. I hadn't thought of renting or paying a house payment again in the future, but I guess anything is possible. I just think it's highly unlikely for us.
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Old 04-17-2011, 03:09 PM   #8
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Own a small house. 33 years. Paid off~10 years ago. Probably shall revert to renting something small before too long.
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Old 04-17-2011, 03:15 PM   #9
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I have owned a small house for 20 years. It will be on the market next month. I am moving to a condo that I also own. I like the feeling of ownership, of not having to move unless I decide to. But I would be reluctant to buy something too elaborate. I would never want to be house poor. And I pay off mortgages as quickly as possible.
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Old 04-17-2011, 03:17 PM   #10
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Quote:
Originally Posted by East Texas View Post
I would have never entered retirement with a mortgage. I paid off the house in the megacity in 12 years by living way below my means and long before I retired. The ranch was a cash purchase. Sold the house in the megacity and used that money for improvements at the ranch.

I am probably the most debt adverse person you'll ever meet.
Ditto, except I paid off my 2.5 acre mini ranch in 11 years and I never want to move. Ditto to the debt aversion too. 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.
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Old 04-17-2011, 04:09 PM   #11
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Own. I bought a fixer-upper, starter home when I was 23 or so. It's had a lot of fixing and re-fixing. Getting it paid off and putting the mortgage money to savings fueled the FIRE fund was the first smart money decision that I made, and made up for a few of the boneheaded other kind.
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Old 04-17-2011, 04:22 PM   #12
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I own my home and paid off the mortgage last year.
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Old 04-17-2011, 04:23 PM   #13
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I own my home and paid off the mortgage last year.
Congratulations. Must be a good feeling.
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Old 04-17-2011, 04:31 PM   #14
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We own our one and only house in Florida free and clear. Just have to pay the taxes which are a mystery, but that's OK. Ya can't always figure out everything in life I guess.
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Old 04-17-2011, 04:31 PM   #15
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I'm on my 7th house now. Glad it's been paid off for about 15 years or so. I would consider renting if the right situation came up, but we have way too much stuff accumulated over the years.
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Old 04-17-2011, 04:40 PM   #16
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I bought my co-op apartment in 1989, refinanced its mortgage in 1992, and paid off the mortgage in 1998. Paying off the mortgage enabled me to greatly reduce my monthly expenses and make my ER in 2008 much easier to achieve.
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Old 04-17-2011, 04:52 PM   #17
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We've owned 5 houses in 3 different countries. Mortgage free from 1999 on, and now in ER we rent, to be able to "lock and leave" as we travel a lot.

Don't rule out the possibility of owning again in the future.
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Old 04-17-2011, 05:05 PM   #18
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I owned my primary residence (all 7 of them for various lengths of time) over the past 27 years but DH and I have rented (2/2 apt) since selling our OH home and moving to FL 18 months ago. Rents are reasonable and it's nice to not have the concerns of local homeownership (declining values, very difficult to sell, expensive hurricane coverage, hurricane repairs).

I thought it would bother me to be renting (from a financial point of view) but actually it's been a feeling of freedom. When the AC was malfunctioning, it was nice to pick up the phone and have a new one installed at no charge 3 days later. I've run into several people at work who wish they were renting rather than buying.
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Old 04-17-2011, 05:12 PM   #19
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Own. Bought in 1996. Paid off last year. ~2200SF, built in early 50s. First house.

I can't see myself ever renting again-but never say never, huh?
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Old 04-17-2011, 05:14 PM   #20
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I'm still trying to sell my home, It's been paid off for the last 15 years. Hoping that as winter leaves the local market will pick up. Once it's sold I will rent in another town.
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