I have noticed that people put themselves down and/or feel embarrassed because they’re “just renting”. Why do people feel ashamed about this? It’s not like most of us have tens of thousands to spare, or are even willing to settle down and be a homeowner yet. Why feel shame?
The assumption being that you're already paying more than the mortgage and just not getting any of the benefits. The last part I'd argue. My tenants don't have to pay for repairs on anything, and as I'm now replacing my second roof this year, that adds up, even with good homeowners insurance. They're paying significantly more than the mortgage and I'm building equity as the tradeoff for that. Now a strong argument could be made that we're both winning here. They have fixed expenses every month for home... homecost? Structural expenses? What do you call that? If you don't plan on being in an area long (or don't know) then that makes a lot of sense. Most of my tenants are business people that transfer out for a couple/few years then go back to wherever home is (or they fall in love with the place and never leave, but they still move out of my places). They say even with good neighborhood appreciation, the first year you're not building any equity in a property because of acquisition costs. Now, I tend to keep those pretty low so I don't know about that, but I think a lot of times that's very likely the case.
All that for the buildup... ugh get to the point.
I think people are ashamed of renting because they are bothered that others think they are throwing their money away by renting, when the reality is most people judging them haven't considered the nuance of what owning entails. Many of the people judging them are likely the ones that have 20k credit card debt from keeping up with the joneses and have a credit score in the tank, so you know... their opinions with a grain of salt.
in america we have a social construct that home ownership rite of passage to adulthood. so many probably feel that not owning a home at a certain age is a sign that they have not accomplished what they are meant to have a accomplished by that age.
the reality is home prices and the costs to maintain homes has become impractical for many many people. we've seen the rise in people renting well into adulthood even when they may be able to afford to buy because economically renting may be the better option
Because of society, because you made it in life once you've bought a house, have a car, have a good job etc. I find renting good if it's cheaper than owning. Whatever you want your rich life to be then so be it. I also hear people going in debt because they got this huge house they can't afford anymore, people try to impress others who don't even matter at the end of the day. It's sad but it's true. There's rich people living in their cars experiencing the whole world traveling and not owning. I agree they shouldn't feel shame
I don’t know. I mean eventually I might like to own a house or condo but until I know where I’m going to be long term I wouldn’t want to make that kind of investment. Obviously we lose money with rent but I’ve seen homeowners lose money as well when they invest before they are settled somewhere.
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Because you’re stuck in the never-ending renter cycle. You aren’t paying toward a mortgage, the tens of thousands you spend renting each year just goes into a corporation or someone else’s bank account. You’re at their mercy, they can raise your rates, make life difficult or evict you whenever they feel like it. You rely on them to fix things, they control what you can install or use in the property, you can’t control what neighbors you have, you don’t have any control at all. Furthermore since property is the primary form of wealth in most countries, you have almost nothing to pass on to your children or grand children.
I don’t think it’s really shame, speaking for myself it’s just extremely frustrating when you are ready and want to settle down and buy something, make good money and still can’t even get close to buying. I’m just tired of flushing money down the toilet on rent
Because you don't really own your own home. There would be rules you must follow that you wouldn't have to if you own your home.
Some places won't let you put holes in the wall to hang posters and stuff, some places have strict pet policies, parking policies etc.
If you own the home you can do whatever you want.
The same reason why people feel ashamed about being single. Society puts these silly ideals of what "success" is. If you're a guy you've got to be getting laid. If you're a woman you got to have a husband. And yes if you don't "own" then you're failing as well. It's stupid! People should buy or rent to fit thier lifestyle. For some people it's NEVER right to buy.
s I guess it's because they don't want other people to know that they're struggling. They probably think that others will feel sorry for them.
People don't like renting because it means they aren't building equity, and it usually costs about as much as a mortgage payment.
Social media
has people thinking rich and famous people own and live in mansions and huge houses
when in reality they’re also most likely renting
It makes me feel like I'm a bum and haven't gotten my shit together yet. House prices here have doubled in the last 10 years, though
Because the cause of life's dream is to own a home supposedly
Not sure, that makes no sense.
Because it's dead money
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