> I also liked the way Jordan waved away the cost of maintenance. All my
> friends own houses. When anything goes wrong, they pay. Through the
> nose. Plumbing, electrical, leaks, etc. Then there's also the new roof,
> paint job, foundation, etc. I would guess that adds a minimum of
> $5,000/year.
Joanna has made her bias against home ownership pretty clear but I just want to chime in that $5K/year must be one hell of an inefficent house. When I switched from renting my mortgage became $950/month instead of $815 for twice the space. I put my HVAC on a maintenance package which is $50/month more than what I was paying when I rented and it includes service and virtually all repairs. I replaced my hot water heater after 5 years and the efficiency of the thing reduced my electric bill such that it paid for itself after about 14 months (well I replaced a half-dozen light bulbs with CFLs too).
My maintenance probably nets about $500/year more cost than renting (that includes what I spend on lawn care and flowers and stuff). Since we're throwing around anecdotes and what not...
My landlord when I rented was a fucking asshole. AC repair even on a 100 degree day was not an emergency. The yellow-jackets infesting my apartment were taken care of after weeks of complaint (by caulking shut all windows). Replacing appliances with more energy efficient ones? Yeah right. If I had a party I got in trouble for the people and the noise. And I couldn't own a dog.
Is there anyone who was a home owner who switched to renting and is happier? Most of the anti-home ownership anecdotes come from people in rent-controlled apartments in amazing US cities. My offer stands - anyone who wants to subsidize me in an 1000 square foot apartment in Manhattan (Soho or Chelsea sounds nice) or San Fran (Nob Hill, Mission, or Castro works) for ~$1000/month, such that I learn why renting is so great, please let me know... :-)
Matt
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