It’s a hoax!
In 99% of the cases and unless you really, really need it – don’t buy a house! Let’s face it, this is just another social manipulation already seeded deeply in our minds. It goes well with the classic “a real man needs to build a house, plant a tree, father a child” bullshit story.
Well, guess who benefits mostly from getting a brand new house? Yeah, you got that right. A woman! Have you ever heard a mortgage that has been taken solely by a woman? Me neither!
A man rarely needs a whole new mortgaged house for himself! Because what for? A man won’t buy a house just to buy a house, right? Unless he is an extensively rich slob he does it in order to increase living space for his “family”. Remember that it is not an investment. Not a real one! Historically this has proven to be true. Housing returned only 0.4% per year from from 1890 to 2004. And that’s just housing prices.
Also, it requires a lot of work. No matter what, you’re going to fix things. Lots of things. In the lifespan of your house, everything is going to break. At least twice! Get down on your hands and knees and fix it! And then open up your checkbook again. Spend some more money. I rent. If my washing machine doesn’t work I call the landlord and he fixes it. Or I buy a new one and deduct it from my rent.
There’s also this myth that you can deduct mortgage payment interest from your taxes. That’s a microscopic dot on your tax returns. Whats worse is the taxes you pay. So your kids can get a great education. Whatever.
Also, let’s spell out very clearly why the myth of home-ownership became so important. It is because corporations didn’t want their employees to have many job choices. So they encouraged them to own homes. So they can’t move away and get new jobs. Job salaries is a function of supply and demand. If you can’t move, then your supply of jobs is low. You can’t argue the reverse, since new adults are always competing with you, right?
When you own a house you even can’t change your neighbors or neighborhood! And often places that initially were looking great turn out to be a shitholes! Oh, but you can paint the walls… With a good landlord it’s going to be possible when renting, anyway! Besides, tell me how many times you wanted to do it during renting? It’s not something you want to do every week, right?
Look at your personal reasons for wanting to own. Do you feel like you can’t accomplish something in life until you own a house? Do you feel like its part of getting married and “Settling down”, i.e. creating a nest for your future children? For you, is it a part of becoming an adult? Is this what your parents taught you? Examine the real reasons why you want to own and make sure they are coming from a good spot in your heart.
Also, when you own the house you’re trapped. Unless you’re the sort of a person that likes to have “roots” (which is bullshit anyway, because anything in this life can change in a nanosecond- a fire, flood, burglary, accidents, etc! Nothing is permanent and at the end we all going to die anyway so what sort of “roots” we are talking about? Those temporary ones? Ahh! 😉 ) you cannot move out just like that, you can’t change the place. Personally, I prefer freedom.
Don’t be stupid. Unless you want to give a woman and her kids huge favor – don’t buy it. It’s like having a golden chain over your neck which you are going to lose during the future divorce, anyway.