Even if you don’t move you buy a new house every 10-15 years.

Good morning, Richard Weisser you certainly make a great point here that many don't think about....I know that I've renovated every home I've lived in at least once from top to bottom....inside and out... it's never ending.... nice post...thanks, Richard...

Yes to what it really means to own a home...Who owns who remains to be seen

Yes, many forget about the maintenance costs. Some of the improvement costs will show a return on investment (maybe 70% of the cost..on average).  Of course you are also enjoying that improvement and while your mortgage stays fixed and generally (over time) the value of your home increases.  And, for some improvements, there are tax deductions (and/or energy savings) that help you out year after year.  Everything depends on how you look at it.

I'll also add that when you are buying a new home (i.e. selling your existing and then buying), you have many extra costs, including realtors, mortgage/atty fees, movers, state mortgage tax (this is high for our state) and usual move-in improvements such as painting, refinishing floors, replacing carpets.  There is also a lot of time involved in showing your home/looking for new home.  Again, it all depends on how you look at it...but important to look at the full costs.

Home maintenance is definitely something to budget for.  I need to start a roof and window fund.

RICHARD WEISSER 

True enough.  Keeping a home is good operating condition with all the systems in good working order a challenge.

Great points Richard.  Many are the reason so many should not own a home but rent instead,