If you are like hundreds of thousands of renters, your lease ends sometime between the end of April and the end of June. The landlord (God love him) wants two months notice of intent to renew or not. It’s time to make the annual decision, rent another year or move on with your life and buy something.
Owning your home truly has economic advantages. However, it is not merely an economic investment. Sure, you will build equity by owing a little less every time you make a monthly payment. You may pay less income tax by itemizing the real estate tax and mortgage interest expense that makes up such a large part of the monthly payment. Your home’s value may increase, giving you a positive return if you ever decide to go back to renting. Yeah, sure you will.
The real investment value lies in ownership itself. Home ownership is about moving forward toward complete independent adulthood, investing in yourself, for yourself. It’s time to move down the road to independence you began traveling the day you were born. First, you were totally constrained and dependent. Then, step by step, you moved forward, crossing the street without Mom’s help. Then, off to school with even more independence, but still lots of rules. Then, your first job. Wasn’t that a treat? Seemed like you were back in elementary school, didn’t it? And, your first apartment! No, you can’t paint! Of course, you can’t hang pictures, holes in the wall are not allowed. A dog? You’re kidding, right?
You’re an adult now, isn’t it about time you were treated like one? Stop taking baby steps. Fire your landlord. And, please, can I help? How about an $8,000 landlord firing bonus from the government?
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