Those of you who own a house (or more) right now, are probably doing well so I congratulate you.
People like me who are still renting are regretting not having bought a house earlier.
Only 3 years ago back in 2018, I was eyeing a house for myself. It was going for around 240k. A 3 bedroom house (bungalow) with a nice front yard, just for me lonely single me.
But I didn't like the idea of putting all my savings into the house and still have to pay a mortgage year after year. What I didn't realize was that owning a house is basically like living for free.
In fact, you get PAID to live in a house. The reason is because when you own a house, the value of the property goes up over time and eventually you'll double what you originally paid for the house.
It just seems like you are paying 240k for a house but you aren't. You are just temporarily putting money into it but it's all going to be yours in the end plus another 240k some years down the line when you decide to move out and sell.
So I regret not buying that house now. I went to check on it today in 2021 cuz I was thinking of trying to buy it again but someone already bought it (lives there) and the value is estimated now at around 320k from just 3 years ago. I would have made 80k just living in that house. If only someone taught me this is how housing actually works.
Buying/owning your property (house or condo) basically means you are living in it for free and actually getting paid money to live in it over the long haul. Sure you have to pay your usual bills and taxes, but overall, you are basically living for free and getting paid to have a house.
People like me who are still renting are regretting not having bought a house earlier.
Only 3 years ago back in 2018, I was eyeing a house for myself. It was going for around 240k. A 3 bedroom house (bungalow) with a nice front yard, just for me lonely single me.
But I didn't like the idea of putting all my savings into the house and still have to pay a mortgage year after year. What I didn't realize was that owning a house is basically like living for free.
In fact, you get PAID to live in a house. The reason is because when you own a house, the value of the property goes up over time and eventually you'll double what you originally paid for the house.
It just seems like you are paying 240k for a house but you aren't. You are just temporarily putting money into it but it's all going to be yours in the end plus another 240k some years down the line when you decide to move out and sell.
So I regret not buying that house now. I went to check on it today in 2021 cuz I was thinking of trying to buy it again but someone already bought it (lives there) and the value is estimated now at around 320k from just 3 years ago. I would have made 80k just living in that house. If only someone taught me this is how housing actually works.
Buying/owning your property (house or condo) basically means you are living in it for free and actually getting paid money to live in it over the long haul. Sure you have to pay your usual bills and taxes, but overall, you are basically living for free and getting paid to have a house.
