I come from parents who made their money in property. It really goes back further...my grandparents on my mom's side owned a real estate business.
Due to this 'wise investing' on my folks part, my two younger sisters and I have always been encouraged to buy property. We have suffered for years the scarlet letter of "P", for property, for our many years of NOT owning any.
The point that is always looked over is, very simply, it ain't as cheap NOW as when they stumbled into it, and ya just don't have the cash to do it. In a society where property prices are high and every household is a two income household, and usually a couple weekend jobs as well, how are you ever suppose to buy anything?
My folks had 5 or 6 rentals going at any one time. Mind you, it was great for someone like me, a high school kid not afraid of getting her hands dirty, for earning some extra dough helping clean them up. But there is also that: humans are pigs! The property damage some of these folks did to the houses were insane! The calls at midnight my dad would get when the toilet was doing an impression of Mt Vesuvius, or the one renter that turned the white bathtub black....was it worth it?
While I live in upstate NY now, where houses are a nickle each (if you don't mind not having a roof or windows), I still don't make enough to dive into home ownership. And I would be SCREWED if my renter left and I had to pony up the expenses for several months at a time on my own.
The opportunity came to re-finance the house we live in, which my girlfriend bought, and put my name on the deed in the process. All the glory of 'equity' without the hassle of the buying process.
Me Likey!
Today we sign our names on the dotted line and I will officially become a home owner. I have to say....there is excitement over that. Even if you can't catch the mysterious 'equity' and put it on a shelf, it's cool to know I'm in the game and one step closer to being an adult. Even if it is at 42 years of age.
No comments:
Post a Comment