Comment

Comment by Heather Lee Presha on August 1, 2012 at 7:54pm

Agreed!

Comment by Lexuses71 on August 1, 2012 at 7:29pm

Heather, I know of what u speak. I have owned five properties since the mid '70s, mostly in the South Bay. I understand the pros & cons of both buying & selling property. I lerned something new each time. Only rented once while regrouping to get back in the ownership market. Doesn't make my any kind of expert, but I do understand the dynamics. Yes, ownership can be a money pit, but so is renting. At least you have something to show for your hard work and scarifice plus tax advantages you can never enjoy while renting. But I also get that ownership is not for everyone. I did it two times while single. At times, it kicked my but, but I alway hung in there becauese the concept of ownership gave me my daily motivation to get my hips to work. And something to look forward to (and take pride in) when I came home after a hard day. So to those on the fence, I say go for it if you can swing it. The pros definitely far outweigh the cons.       

Comment by Heather Lee Presha on August 1, 2012 at 4:50pm

Thanks for chiming in Lexuses71.  Speak on it!  :  )

Comment by Lexuses71 on August 1, 2012 at 5:51am

An excellent article. Inspite of the sluggish economy, home ownership is still one of the best long term investments.It is not easy. And not for everyone. It requires committment, focus and a executable plan. but, as stated above, the rewards are numerous. The key is not biting off more than you can chew. And moimimizing your outstanding debt (car loans, credit cards, etc) is critical before attempting to buy. You do have to take an honest, detailed look at your financial situation up front. But if you work it properly and enlist the available resources available, it can be done. There are plenty of loan options out there, especially now. I know plenty of folks who made that leap and are paying less per month than they were when renting. Something to really think about.