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RE: What Goes Down Must Come Up. Economic Cycles Repeat. Learn This, & Why... and Remain Healthy Emotionally, Financially and Spiritually.
I just bought a house for the first time in a decade. I owned three in the mid-90's/early 00's, then took a break. I got a nice, low, non-variable interest rate. My goal is to pay it off as soon as possible, because I don't want to be a slave to paying the mortgage for the next three decades. I have high hopes that my crypto investments will help me do that sooner rather than later.
Oh, I am certain you will be fine Steph and good for you.
I was just shovelling, everything is so hard now w my injuries, I used to love doing it.
Part of the "ownership" - and I use that term in quotes even as a real estate person/activist/liberty guy of course....
I am just about finished my latest homesteading/preparedness episode, I was just thinking of you, came to grab something here and it will be up in 2 mins.......
"ownership" is right!! Stop paying the property taxes and you will find out who the true owner is....
There's also eminent domain, too. If the government wants your land, they can take it, and you have to either move your house or it gets torn down. I've said for years you never REALLY own land in this country. You may own the house, but you only nominally own the land it sits on. The land is subject to all kinds of government regulations, zoning, taxes, eminent domain, and such. Your name may be on the deed, but it is never truly yours.
Luckily, my house is in an older part of town that has been established as a residential area for almost as long as the town has been here. Nothing commercial goes on in my neighborhood, and the streets are more than enough for the little traffic we get. There's not much chance of eminent domain happening here, but with the way things are going in this country, and the world in general, you just never know. The whole town could be confiscated by the federal government one day, for all I know. I wouldn't be surprised.
I got out of homeownership because I got tired of being out of pocket for any repairs and maintenance my houses needed. I got back in because I got tired of dealing with landlords who never wanted to make those repairs or do maintenance.
Damned if you do and damned if you don't when deciding between rent or own. I "own" my house because I can sell it and peel some equity money out of it when I do. Rent in our area is higher than what a mortgage payment would be so it only makes sense to own. =)