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What Is The Obsession With Owning Your Own House?
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Is it really that important?
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If you are British - yes.
Part of British culture dictates that house wonership is a measure of success and standing in society.
Almost all other cultures are far more relaxed about renting, and never own a property, ot aspire to do so. Germans far prefer to rent apartments than own houses.
Maybe the laughable European 'cafe culture' we were supposed to inherit when booze hounds were given freedom to drink themselves stupid around the clock will rub off in the housing ethos as well?
Doubt it though - we are never going to drink like Europeans, why should we live like them?
Part of British culture dictates that house wonership is a measure of success and standing in society.
Almost all other cultures are far more relaxed about renting, and never own a property, ot aspire to do so. Germans far prefer to rent apartments than own houses.
Maybe the laughable European 'cafe culture' we were supposed to inherit when booze hounds were given freedom to drink themselves stupid around the clock will rub off in the housing ethos as well?
Doubt it though - we are never going to drink like Europeans, why should we live like them?
Yes. What sort of state are you in if you can not even afford you own place and are dependent on another renting you theirs ? Awful situation to be in. Only suitable when your life is not yet stable and sorting it out for yourself will cause more problems mid term. May as well ask what the obsession with owning your own clothes is.
If you own your house:
1. Nobody can turn you out. You will always have a roof over your head.
2. You can maintain the exterior by doing regular repairs, whereas a landlord could well wait until some problem gets serious before doing anything about it.
3. You have a tangible asset, which you can raise money on.
4. If repairs are done by the landlord, he may well choose a cheapo workman, whereas you, as the owner, can get a proper workman to do the job.
If you live in a rented house:
1. Repairs may not get done in good time, if at all.
2. Someone else (the landlord) has a key to your home.
3. You can't be sure that the building is adequately covered by insurance.
4. You can't choose the colour scheme for the exterior.
1. Nobody can turn you out. You will always have a roof over your head.
2. You can maintain the exterior by doing regular repairs, whereas a landlord could well wait until some problem gets serious before doing anything about it.
3. You have a tangible asset, which you can raise money on.
4. If repairs are done by the landlord, he may well choose a cheapo workman, whereas you, as the owner, can get a proper workman to do the job.
If you live in a rented house:
1. Repairs may not get done in good time, if at all.
2. Someone else (the landlord) has a key to your home.
3. You can't be sure that the building is adequately covered by insurance.
4. You can't choose the colour scheme for the exterior.
The trouble with renting in this country is you are forever being moved on by landlords who want to sell up or flatmates who want to move on. My cousin has been renting in Hamburg for 20+ years and he said there are always reasonably priced long term lets to be had. That is not the case in this country.
To want to own your own home is not an obsession its an aspiration. Owning the place you call home gives you a sense of security and knowledge that every month the money you pay out for your home is not 'lost' in rental, but invested in a property that will at least hopefully hold its value, at best give you a return on your investment should you wish to move. I've rented in the past and hated it, not knowing if I would still have my home when my contract came up for renewal. I suppose you do get a bit more security if you are in Council or Social Housing, but people do aspire to owning their own home, considering how many bought their council houses in the '70's.
Well I (through no fault of my own - long story!) have no choice but to rent. It doesn't make me feel any less secure though as I, hopefully, will always be able to keep a roof over my head even if I have to move from where I am now. I used to be a home owner until life circumstances took that away from me, but at least my children won't have to face what I am facing now, ie: having to sell my mum's home to keep her in care and losing everything she and dad worked so hard for.
If you own your own house you can pay off the mortgage (if you have one)quickly. I paid off my first one in 15 years and saved an amount equal to the cost of the house, huge drop in my disposable income. In principle I have saved about £300,000 and own a house worth a lot more than that by not renting. An additional benefit is that you can choose where you live as opposed to council tenants who have vitually no choice at all.
If you own your own house you can pay off the mortgage (if you have one)quickly. I paid off my first one in 15 years and saved an amount equal to the cost of the house, If I had gone for renting I would still be rentig in my retirement with a resulting huge drop in my disposable income. In principle I have saved about £300,000 and own a house worth a lot more than that by not renting. An additional benefit is that you can choose where you live as opposed to council tenants who have vitually no choice
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