OK . The American dream is to own your own home someday . But is it really best for the older senior generation ? I am beginning to reevaluate this idea .
With home ownership comes repair & upkeep expenses , Property taxes , and the rise and fall of property values .
It also locks you into staying in one place longer than most folks care to .
I have 3 homes scattered about . One in California , Idaho and Panama . Its keeps me busy keeping all 3 up and ready . I have decided to sale 2 and downsize .Maybe all of them
Now I am looking at other investments and realize that unless you have a good Crystal Ball to look into , homes can drag you down .
Are you getting a 6-8% return on your home every year ? Is it easily obtainable with cash if you kknow where to look ?
Homes cannot be sold overnight . It takes some time and then you pay 6% to sale it .
I Now believe that No home ownership may be the best way to go . Someone else pays the property tax and does the upkeep . I just pay one price for rent . If I like it I can always go for a long term lease and lock the rent price for a year or two .
If you own your own home you can also forget about long term care in a rest home with any financial assistance help from good old Uncle Sam, if you should ever need it . They believe if you own a home you can afford the cost of a rest home . The average cost is over 10 grand a month now . They don't give a shit if you have $1 in your bank account or a million . You own a home so thats good enough for them to deny you help .
Now what do you do with that harded earned money that you save by not buying ???? Invest wisely .
My plan is to start spreading (give away ) my funds around to my family as I get older . No one says I can't buy a new truck or car and forget where I left it . Same with groceries , light bill and everyday needs that they might have.
If the goverment comes knockin on my door and ask what I do with my money , i'll just tell em the kids are lazy SOBs and that they are always wantin something ?? I can also say I hear the hookers in town are having a two for one special and that I am horny a lot !!!!!
I have not got all the answers , but I am working on it
With home ownership comes repair & upkeep expenses , Property taxes , and the rise and fall of property values .
It also locks you into staying in one place longer than most folks care to .
I have 3 homes scattered about . One in California , Idaho and Panama . Its keeps me busy keeping all 3 up and ready . I have decided to sale 2 and downsize .Maybe all of them
Now I am looking at other investments and realize that unless you have a good Crystal Ball to look into , homes can drag you down .
Are you getting a 6-8% return on your home every year ? Is it easily obtainable with cash if you kknow where to look ?
Homes cannot be sold overnight . It takes some time and then you pay 6% to sale it .
I Now believe that No home ownership may be the best way to go . Someone else pays the property tax and does the upkeep . I just pay one price for rent . If I like it I can always go for a long term lease and lock the rent price for a year or two .
If you own your own home you can also forget about long term care in a rest home with any financial assistance help from good old Uncle Sam, if you should ever need it . They believe if you own a home you can afford the cost of a rest home . The average cost is over 10 grand a month now . They don't give a shit if you have $1 in your bank account or a million . You own a home so thats good enough for them to deny you help .
Now what do you do with that harded earned money that you save by not buying ???? Invest wisely .
My plan is to start spreading (give away ) my funds around to my family as I get older . No one says I can't buy a new truck or car and forget where I left it . Same with groceries , light bill and everyday needs that they might have.
If the goverment comes knockin on my door and ask what I do with my money , i'll just tell em the kids are lazy SOBs and that they are always wantin something ?? I can also say I hear the hookers in town are having a two for one special and that I am horny a lot !!!!!
I have not got all the answers , but I am working on it