The longer I’m a home owner the less I see the benefit of it. I understand the concept of building equity in a home, if that’s really what’s happening, and the whole putting down roots thing did resonate with me at one time, but that honeymoon has ended. I am ready to be a renter once again. I can hear the exclamations already: You’re paying for someone else to reap the benefit of equity; The taxes and interest are tax deductible; You can make whatever changes you want to the house if you own it; You don’t have to worry about having pets; etc. It’s not enough though. The time has come and of course I am going to tell you why…
Reason #1: Taxes!
I have a great house and it’s got great space for my family. I have a yard that’s mostly fenced in (I’ll expand on that one later) and I live in a nice neighborhood. Since I’ve lived here I have refinanced 3 times! And still my mortgage increases ever year. Why? Because of taxes! I know that rent increases as well but you get a couple months notice before it happens and you can make a choice to stay or look for something more affordable. Every year I am completely surprised when all of a sudden I go to pay my mortgage and it’s $10, $15, $20 dollars more than it was the entire last year. I don’t like those kind of surprises. Can I look for a cheaper place to live? Not without preparing my home to be shown hoping it will be sold, if it will even sell in this market, and going through a lengthy paperwork process that can take months. Just talking about it gives me anxiety.
Reason #2: Trapped!
While the real estate market is improving it is far from healed. When we decided to buy this house it had only been on the market 3 days. We had to rush to get our offer in because houses were flying off the market. Now I see realty signs boasting “Sold. Only listed 45 days!” My parents listed their beautiful home with an in ground pool for 2 years without a single offer! In order to move quickly…well, chances are high that you won’t be moving quickly unless you vacate the house before it’s sold leading to BAD credit. No bueno! It really puts a damper on the discoveries to be had living in a new place (or several new places).
Reason #3: The Ex!
My Ex and I have a pretty amicable relationship. We still make an effort to be on the same page with parenting the boys and have successfully gotten along better after the divorce than we probably ever did before it. With that said, the house is the last tie to him that allows his controlling nature to rear it’s ugly head. It’s a tool of manipulation for both parties and I don’t believe there will be complete peace until it’s sold. Not to mention the strong desire I have to make a fresh start with B in a place that’s ours and not mine and my Ex’s. He’s done very well with making this his home, we repainted and redecorated, but there are little reminders that I lived here with another in a life before him. It’d be nice to be free of them (and by them I am NOT referring to my sons!).
Reason #4: Things Break!
This past weekend we had a great visit with some friends at our home. Halfway through the day I noticed it was getting warmer but the air conditioner was on and running. I could hear it and feel the air moving at the intake, so I didn’t worry too much about it. It took another hour or two to realize that the air being pumped through the vents was room temperature. I was freaking out inside while maintaining a cool demeanor outside for my friends and the boys. In reality I was living one of my worse fears. My mind was a jumble of what if’s, trying to plan out what to do next, knowing full well that I didn’t have the money for a new HVAC unit. That night we bought a window AC unit and B, the boys and I all slept in one room for two nights (we tried to make it exciting rather than dooms-day’ish). THANK GOD all the unit needed was a new compressor! And THANK GOD we have extended family with the know how to replace a compressor! That doesn’t remove the gut wrenching anticipation I constantly feel waiting for the next big thing to break though. I still have part of a fence out thanks to a wind storm and a HUGE tree that broke through said fence and landed on the trampoline. (The trampoline was not harmed much to the boys’ relief.) Then there’s the hole in the bathroom wall, which mysteriously gets bigger after my youngest has been in there, and the door bell that’s missing the part you push on, and the bath tub that wants you to take a bath every time you shower, and the weeds that think they’re trees, and the broken window in the garage that the birds use as their personal door…and the list continues. How nice it would be for all that to be someone’s problem that’s not me.
So now I just need to get the repairs done and the house ready to be sold. No big deal…right?
Side note: The boys still ask if we can all sleep in the guest room again. I guess we made it too exciting!