Whew!! This has been a roller-coaster year! My house was on the market and I got a bid. I’m keeping my fingers crossed, but it looks like it might just be a done deal. Just in case, I went and put a townhouse on hold that will be held until my closing date. If the closing falls apart, I’ll be out a security deposit, but the buyer will be out their earnest money. So, it’ll be a wash.
I have been debating for some time whether to go cheap and dingy or upgrade and nice for my home. I am not buying. The real estate market is very unstable, in my viewpoint, and that’s part of the reason I am selling now, and not two years from now when I will probably leave the area. Seeing as I can’t make enough in equity to pay a real estate commission after two years of owning a home if I did buy again, I am choosing to rent. I really like renting because there are no maintenance fees and you can get nicer digs than if you own. So, I got a really good deal – very high-end townhome and I am delighted! I’d never be able to afford this home if I bought since it comes with it’s own yard maintenance and all the maintenance indoors too. Adding up maintenance in my old home, I had spent more than the 1% they say to allow for maintenance. It was more like 2 to 3%. So, I figured I could use that money to upgrade my living arrangement, without having to deal with the headaches of arranging people to come and fix things for me all the time. That was like a part-time job in itself!
So, now, here’s the really funny thing. I am going to try to get a room mate for a spare room. I am going from a 1500 square foot home to a 2500 square foot townhome. I am paying about $600 extra in rent – BUT – I have that much more space and I plan on getting a roomie, who will pay – heh, heh, – $500/month. So, doing the math, and I just seriously upgraded for just $100 extra and no maintenance costs! I don’t even have to mow the lawn! I will be saving any where from $3000 to $6000 a year making this move, in maintenance costs alone.
So, for all those people who say renting is worse than buying, I say: Pooh! Pooh! I am really happy NOT to be a homeowner anymore and hopefully this deal will go through and I’ll never be a homeowner again! And, in case anyone is wondering, the housing market in Raleigh is taking a dive, I think. I had to pay closing costs for my buyer, something completely unheard of before. They have plenty of choices out there and the townhome area I went to had MANY rentals out and FOR SALE signs out too. Prices there are dropping too.
Did I mention I can still deduct a home office on my taxes even if I rent? Ha, ha, ha…It’s getting tougher and tougher to be a homeowner these days. From real estate taxes that increase while values drop to maintenance people who believe that, because gas prices have shot up, they are entitled to over $100 just for walking over your threshold, whether they fix your problem or not. I say: “Good riddance!!!”