Oh I really struggle with this! I have a house we bought at the tail end of low interest rates. I always think-do I want to spend $500+ on home improvements or put $500+ towards savings for a new house?
I’m really not feeling the overall structure and layout of the house anymore. To cope, I tell myself sometimes,
it’s never going to feel like a forever home if you don’t treat it like one. I am just hoping if I’m good to my house, it’ll be good to me.
1) Jealous of that low-interest rate mortgage lol. 2) I think your heart is in the right place here - there's nothing wrong with wanting to find a home that better fits your needs, and there's nothing wrong with spending money to improve the home you have now. Both choices lead you closer towards the forever home you want, vs. improving a house for the sole purpose of increasing its sale price.
Becoming a father changed my perspective. It’s no coincidence I bought my first home right after my twins were born. And even if my house isn’t an asset, if you count time and memories as an investment, that house is the best dividend payer I’ll ever own.
100%. In 30 years you won't remember whether your house gained value a certain year, but your twins will absolutely remember the memories they make in that home.
Right on. I bought my house after my ex-wife and I divorced (she kept the other one). I wanted a place that could truly be home for my boys. Every room became a reflection of us—curating our new life as a split-household family.
I live in a hot real estate market and got lucky with timing, but I rarely think about my house's value. I think about the drought-tolerant landscaping we put in that teaches my values around water conservation—and gives us something beautiful to look at when we open the curtains. I think about fixing the plumbing so the kids didn’t get ice showers whenever I turned on the kitchen sink.
To make the mortgage work, I turned the primary bedroom/bath into a rental. We’ve had over 30 long-term guests stay with us. Our house isn't just a place where we—and our guests—live. It's where we belong.
So absolutely true. To raise the stakes, I would also encourage folks with financial margin to think critically about this question: Do you love your mortgage interest rate more than you love the lifestyle your home provides?
I fear that there will be too many people who had the means to move, but didn't, out of fear of losing a precious interest rate and a few hundred dollars a month. Maximizing ROI but failing to live somewhere you love feels like a poor trade. But perhaps this is my way of convincing people to be mobile again and free up housing inventory for my gain lol.
Don't get me wrong, I get why people are hanging on to those mortgages, but I think you're right. In the long run, I think having a home that you love in a place that you enjoy is going to bring more happiness than saving money unless you're really pressed for cash.
Oh I really struggle with this! I have a house we bought at the tail end of low interest rates. I always think-do I want to spend $500+ on home improvements or put $500+ towards savings for a new house?
I’m really not feeling the overall structure and layout of the house anymore. To cope, I tell myself sometimes,
it’s never going to feel like a forever home if you don’t treat it like one. I am just hoping if I’m good to my house, it’ll be good to me.
1) Jealous of that low-interest rate mortgage lol. 2) I think your heart is in the right place here - there's nothing wrong with wanting to find a home that better fits your needs, and there's nothing wrong with spending money to improve the home you have now. Both choices lead you closer towards the forever home you want, vs. improving a house for the sole purpose of increasing its sale price.
Becoming a father changed my perspective. It’s no coincidence I bought my first home right after my twins were born. And even if my house isn’t an asset, if you count time and memories as an investment, that house is the best dividend payer I’ll ever own.
100%. In 30 years you won't remember whether your house gained value a certain year, but your twins will absolutely remember the memories they make in that home.
You've got to live somewhere. If you aren't paying a mortgage your paying rent.
Owning is better financially then renting unless you move often.
If you were living in one of those closed access metros (NY, CA, etc), owning was a really good move over the last 30 years.
There are a lot of tax advantages to owning.
Right on. I bought my house after my ex-wife and I divorced (she kept the other one). I wanted a place that could truly be home for my boys. Every room became a reflection of us—curating our new life as a split-household family.
I live in a hot real estate market and got lucky with timing, but I rarely think about my house's value. I think about the drought-tolerant landscaping we put in that teaches my values around water conservation—and gives us something beautiful to look at when we open the curtains. I think about fixing the plumbing so the kids didn’t get ice showers whenever I turned on the kitchen sink.
To make the mortgage work, I turned the primary bedroom/bath into a rental. We’ve had over 30 long-term guests stay with us. Our house isn't just a place where we—and our guests—live. It's where we belong.
So absolutely true. To raise the stakes, I would also encourage folks with financial margin to think critically about this question: Do you love your mortgage interest rate more than you love the lifestyle your home provides?
I fear that there will be too many people who had the means to move, but didn't, out of fear of losing a precious interest rate and a few hundred dollars a month. Maximizing ROI but failing to live somewhere you love feels like a poor trade. But perhaps this is my way of convincing people to be mobile again and free up housing inventory for my gain lol.
Don't get me wrong, I get why people are hanging on to those mortgages, but I think you're right. In the long run, I think having a home that you love in a place that you enjoy is going to bring more happiness than saving money unless you're really pressed for cash.