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[ALRATIBA]

No adjustment necessary for me. 

I moved from a four bedroom house in CA SF Bay Area to a one-bedroom apartment in Manhattan.

[SurferWife]

I've done both & currently rent.  It really all depends upon your lifestyle.

[ECBG]

Own.  I like having the privacy as well as the room. 

To have the room I have here in this town I would need a 1 million dollar apartment down town, (no thanks!); that type of housing wasn't a reality until about 10 years ago.

[decaf]

We own a 1950's home in S. Florida.  The neighborhood is quiet and beautiful, we're 50 yards from the intracoastal, but we're stuck. The house needs work inside, my husband doesn't like to do any renovations himself and I have disabilities now where I can't do it anymore. I also don't want workers inside now with covid. And they're undependable here.

I'd love to move to a one story villa townhouse but I'm not buying at the top of the market. To rent, one bedroom apts average $1700./ month.  Ouch. To make matter worse, home prices here are based on incomes in NY and NJ, not incomes in S Florida. There's no other place I know where home prices are based on incomes in other states. Every year more and more baby boomers are selling their NY homes for a small fortune,come here where the same house (or bigger and newer) is 50% less, they consider it a bargain. But It's unaffordable for Floridians.  And all the homes sold to rent as Airbnbs drive up home prices too.  Besides, we have no choice but to stay here, for my DH job of 35 years.

[SilleeMee]

When you rent you don't have to worry about the rising property taxes. Since I don't have a mortgage I pay my property taxes out of pocket every year and they are going up so high I can't believe it. No breaks for seniors either.

[Annabellethecat66]

I have owned my house and car  for a long time.

It's easy to own your house if you live in it.

The car doesn't take as long but it's not as much money either.

There are way more advantages to owning a home rather than to rent one.

You no longer have large mortgages each month when you totally own your house.

You will have to come up with a few thousand dollars two times year when you pay taxes on the house you own.

There's a nice feeling knowing you own two of the most expensive items probably you'll ever have.

I know several friends who own their own homes.  The main theme is they didn't move up and buy a bigger house.  They didn't trade in their car every year.  My car is a 2018 Acura.

I look at the newer versions and there's no difference between each year.

All that said, when you own your home, you are responsible for fixing everything that's broken or just doesn't work.

If you are happy renting keep doing it.  I think renting might make sense if you are elderly or not in good health.

However, as far as buying a house with mortgages it's about the same as renting every month. 

But in the end, if you have a mortgage you at least come away owning the house.

If I were you, I'd sit with a piece of paper.  Draw a line with one side "advantages".  Next side "disadvantages".

You know your finances.  Use logic when deciding what's best for YOU.

I don't understand why anyone, if they financially can, wouldn't want to eventually want to own their own home.

My daughter is now 41.  She wants to buys home.  She's financially able to own a home.  I'll give her the down payment for one because for her, it makes sense.

She's never leaving Colorado.  Her boyfriend is buying his own home.  Come to think of it...maybe that's what SHE is waiting for...him to make his move as regarding her.

Wow!  I just had an epiphany!  

[AuntG]

Since we like the area, and our house is fully paid for, our decision is to stay. I still like touring condos, but with the association fees, we'd save nothing. Hiring a lawn service to do the difficult maintenance is an option somewhere down the road.

[Sooner]

We gave up a beautiful view (which I will admit I miss) for a larger and newer house in the same neighborhood when we retired 5 years ago.  I don't regret it at all.

We have more room, which was what we had planned on doing when we would both be here together, and gained a much more liveable house.

I am thankful every day that we made the move when we did.  It has been a huge huge blessing for us considering everything between now and then. I have great sympathy for anybody worrying about houseing at any time.  It is so often a difficult choice. 

[lgfan]

I bought a condominium twenty years ago because of rent control.  I got tired of my rent being increased every year so I bought a condominium.  At least I know I will eventually own it and I will own my home.  The only thing I need to continue to pay is the assocation fees and property taxes.  I have also built equity on the property because it is now worth three times of what I purchased it twenty years ago.

[riley1]

@Sweetbay magnolia - I would definitely say owning is better than renting - at least for me. And, that may also depend on where you would plan on moving. 

As you said, you could make some money if you sell, are you giving up what you would make because you will now pay higher maintenance fees or HOA fees?

And, you might not make as much as you think on a sale if your house really needs a lot of work/updating.

If you want to stay, maybe start with some small improvements = do you have a deck or patio? Maybe plant some privacy shrubs around the area and put some colorful potted plants out there with lights.

How about some fresh paint on the inside? Do you have a lot of "chotkes" around your house? Try to declutter and the room will have a breath of fresh air and look more spacious.

How about a cleaning person a couple times a month. Someone to help outside?

These are just some of my thoughts. I think sometimes we all get tired of where we are - thinking the grass is always greener...