Current Events > Is it really worth it to own a house if you are by yourself?

(+) Yeah! (+)

Say you dont have a wife or kids, is it even worth it?

I know you can rent it out but it seems like a gigantic headache for someone by himself

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Yes

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My house has risen in value $50k this year, and my mortgage is significantly cheaper than rent, and I can Airbnb it whenever I leave for a quick $200/night

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unless you have guests over a lot, imo no. I think you are better renting it off to others.


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Yes. You actually own something instead of paying someone else's mortgage.

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just get a smaller house, that's what i did. i got a 1500 sq ft, 3Br, 2.5 Ba home and even that's a little more than i need.

what things do you think are not "worth it" for someone living alone? the sheer cost? because my mortgage payment ended up being less than the rent at my 950 sq ft town house

edit: if you plan on staying in the same city for 10 years or more, it's worth it to buy if you can afford to, for the most part. but there is no "hard rule" here and everyone has preferences.

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Yes, if you don't own, it's not your home.

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Really depends on your financial situation and goals.

I'm inclined to say yes and if I were by myself I'd still be looking to buy but not everyone wants the same things out of housing that I do.

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I did.

I bought a house that had two apartments and I live in one and rent out the other.

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Njolk posted...

My house has risen in value $50k this year, and my mortgage is significantly cheaper than rent, and I can Airbnb it whenever I leave for a quick $200/night

But so has every other house and rent.
You sell, you won't make $50k profit, you just won't lose by buying your first home after skyrocketing values.

I bought a house and lived with a roommate

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Giant_Aspirin posted...

just get a smaller house, that's what i did. i got a 1500 sq ft, 3Br, 2.5 Ba home and even that's a little more than i need.

what things do you think are not "worth it" for someone living alone? the sheer cost? because my mortgage payment ended up being less than the rent at my 950 sq ft town house

edit: if you plan on staying in the same city for 10 years or more, it's worth it to buy if you can afford to, for the most part. but there is no "hard rule" here and everyone has preferences.

correct answer.

having a guest room is just nice, IMO.


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There's some upkeep that you need to be willing to do (or pay someone else to do)

Money wise, it can make sense depending the cost of living in your area, the neighborhood, work commute, etc.

Personally, I used to own a house out in the burbs. Single story, 3 BR. Was just me. Made a profit when I sold it. But it was out in the burbs. Going anywhere was at least 15 minutes of driving, sometimes upwards of 3-30+. Gym, friends' homes, grocery store, work, etc.

Currently living inside the loop in a rented townhouse; 2 bedroom. I'm paying more than my house. But I've got friends, entertainment venues, bars, gym, grocery, etc all 10 minutes away or less. Active dating scene is also a plus. If I wanted to have a house in this same area, I'm either looking at needing 500k because the land is so goddamn expensive, or someplace that was built before 1970 without central AC.

It's really about how you value your time. I had a coworker who lived in a trailer and had an hour+ commute to work daily. Fuck that, lmao.
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Buying my own home and living on my own in it is one of the best decisions I ever made. It's complete freedom and you get to go to your own home at the end of every day knowing it's yours.

I rarely have guests around as it's my place to chill and re-charge after a tough week at work.