Re: Owning a house.
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a few things.
1) Buying a house gives you many more options then renting. Most people don't rent, they sell. {/quote]
What does this mean?
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2) Psychological effects of owning your home.
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Including being on the hook for ever little thing that breaks. Some people regard renting as much less stressful.
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3) Regardless of the change in value, you can always live in your home and it provides you the same value. home is also a safe asset.
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It hasn't been safe over the last year. And when you rent you don't have to pay a large transaction fee to move.
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4) most people live in the same place for most of their lives. this board is so far from an accurate representation of the average american.
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If you overpay to own, rather then rent, staying in the house can mean you overpay for a much longer period.
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