i mean in old age it really doesn’t matter where you live because we can’t enjoy things as much we do in youth ?
Why is it so that we work our almost half life in order to buy a home just so that we can live in it for few more years ?
r/ask
i mean in old age it really doesn’t matter where you live because we can’t enjoy things as much we do in youth ?
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That’s capitalism unless you’re at the top. And if you don’t participate well look at all those unhoused folks, don’t want to live like them do you? Then better get to work.
You can do it the way you want. If you don’t want to buy a house and spend your whole life the same way, you can do it, although it’s quite difficult.
Because you want to eat food you didn’t grow, wear clothes you didn’t sew, and live in a house you didn’t build.
And not only ‘didn’t’ do any of these critical life support functions… Almost certainly ‘couldn’t’ even with a gun to your head.
I’m not sure how old you are or how long you expect to live…
I’m 61 and bought my first house 30 years ago and expect to live in my current home for at least another 20 years.
We don’t work half of our life to buy a house to live in for a few years after we retire.
We work to pay for our housing for the entire time we need to.
It’s just an abstraction from the more “natural” path of building and working to maintain a shelter (like most animals do).
For me, it’s nice knowing I’ll be able to leave it to my daughter so she won’t have to struggle like so many young people are going to.
> in old age it really doesn’t matter where you live
Au contraire. In old age, you want to be embedded in a community. You want to be near your friends and family and maybe a temple/mosque. And you definitely want to be near medical facilities.
You probably bought more house than you can afford.
Youth: No money.
Middle age: No time.
Old age: No knees.
But hey, this house is Mine!
I’m 50 and I enjoy my home just fine…my wife and I bought our first home when we were 30. It’s possible of course, but I don’t intend to die in a mere few years…I imagine my wife and I will live in our current house for another 20 years at least…our kids will live here with us for another 5-6 at least. We might downsize in our late 60s or around 70 or something.
I probably enjoy this house more now than I would have in my youth…just a greater appreciation for a lot of things now than when i was young. Besides, in my youth or 20s or whatever I was pretty much never at home anyway…all I needed back then was a place to put a bed and a bathroom to shit, shower, and shave in.
I’ve thought about this a lot, especially recently as I’m in my 30s and still grinding away at a job I’m not all that passionate about. I’ve always felt like there has to be more to life than just working to live. I remember back in my 20s thinking that I would eventually “find my dream job,” but it never quite happened the way I imagined it. Instead, it feels like work has just become this endless cycle where you get up, go to work, and repeat, with the occasional vacation or weekend to break up the monotony. It’s frustrating because it feels like so much time is being spent doing something that, at best, brings in money, but not necessarily fulfillment.
I think part of the issue is that society has conditioned us to believe that success equals working hard in a traditional 9-to-5 job. I know a lot of people who have quit their jobs or taken a different path to try and break free from the system, but it’s not always easy. I’ve thought about it too, but the fear of financial instability keeps me in place. It’s just hard to imagine a life where you’re not constantly hustling to get ahead. I wonder if it’ll ever change for me or if I’ll end up like so many others, working for the next 40 years just to retire and enjoy life when it’s too late to do the things I really want to.
Might as well ask why we live when we eventually die. It’s not a bad question, but there’s not an answer anyone can give.
Who told you it was ok?
Maybe you don’t understand the house buying process? I’m 42F and bought my house 13 years ago and am enjoying my home just fine.
You don’t have to do it.
Home ownership has its issues, but the positives far outweigh the negative. First, the day you sign the papers and get the keys you can do whatever you want. Rip out the drywall, move a wall, install shag carpet, make a bathroom with 3 toilets, do whatever you can imagine. Second, i get my money back. Rent is gone forever, poof, like a magic trick. Mortgage payments contribute to your net worth. I can sell my home, and actually get back more than I put in, however that is a reflection of the market. All things equal, I would get back every dollar I gave the bank when I sell. Thats a lot of money to get back.
Because you can’t build that house by yourself, so indirectly have to pay others to do so.
Because if you rent forever, you still get old and you don’t even have a house.
You need to relocate if you can’t afford a house where you are living. Watch the show house hunters for ideas, it’s amazing how cheap some locations are.
Wir haben unser Haus vor 36 Jahren gekauft. Wir haben vier Kinder, daher war es schwierig, eine Wohnung mit angemessener Größe zu finden. Auch mit unseren vorherigen Vermietern hatten wir sehr schlechte Erfahrungen gemacht. Die Hypothekenrate war nur geringfügig höher als die Miete. Jetzt wohnen unsere Kinder weit weg, und wir sind froh, dass sie nicht im Hotel übernachten müssen, wenn sie uns besuchen. Unser Haus ist seit über 10 Jahren abbezahlt, während meine Schwester, die zur Miete wohnt, umziehen muss, weil sie sich die Miete nicht mehr leisten kann. Allerdings ist die neue, sehr kleine Wohnung auch für sie als Rentnerin sehr teuer.
Das Gefühl der Freiheit war den Preis wert. und nicht zuletzt werden meine kinder etwas erben.
Shelter is overrated
Because paying rent when you have no income sucks.
You still own it. Pass it on to your kids. They will then own it and not have to struggle as you did
Hey there! Welcome to finding out that the system is rigged. Now, are you ready for the incoming recession? Because I’ve got a few old millennial “four times once-in-a-lifetime economic meltdown” tricks up these sleeves for ya.
That’s what most people seem to do. You don’t have to. Do it your way. People believe it’s just what you’re supposed to do. It’s kind of the definition of success in America.
Screw the norm. it’s your life. Do something awesome and make some noise!
Having been a homeless foster youth, I saved and scrounged, and bought my home cash when I was 28. My friends assumed I inherited money but I never did. They don’t understand that orphans don’t get that? They just couldn’t understand that I could work low paying jobs and do what I did.
I had to buy a fixer upper foreclosure, and the house is >100 years old – we don’t even know the exact age. I’ve fixed a bunch and I still need to fix more but it’s got everything I need. Shelter, hot water, new plumbing that I installed. New roof my husband installed, etc.
We’re “behind” for our ages in retirement savings but I’m not paying for a home three times over in interest. In that way, I’m very much ahead. My husband and I were both homeless foster youth and it was most important for us to do this so we had the security of owning a home. We could never again be kicked out.
First : it does matter where you live, it matters kinda more. When you are young you don’t spend that much time at home, but when you retire you spend all your time at home. Not to say you need a lot of accessibility and stuff because your health is declining. You need all your things to be accesible for low mobility.
Second : that s not 100% how buying a house works. Yes, we ll prolly be over 50 when we finish paying it, but you don’t *move in at 50. you move in now. If you buy a house at 30 and you live to 70, that’s 40 years of living in that house, not just a few years.
Third : (ofc if you can get a credit approved) depending on the country you are in, it makes more sense to buy a house. Because whether you pay rent each month, or you pay a mortgage, you still have to pay, at least if you pay a mortgage you know you ll have something at the end. Paying rent basically is paying someone else’s mortgage. It depends a lot on you, and your country, for some people it makes sense to live in rentals. Having your own house also has the advantage that when you re old and retired, you won’t have to pay the mortgage anymore cuz you ll be done with it. If you rent, you ll have to pay rent until you die basically.
You need housing. House/apartment, you need a roof over your head.
Owning a house is a good thing. Yes, I have to pay for it over 30 years. No different than rent. However, at some point, the house becomes an asset. An apartment never does.
I don’t want to have to worry about paying rent when I’m retired.
For me, it’s financial security. Rent/mortgage is the biggest expense throughout life so once you pay off a house, that part goes away and frees up cash every month. Yes there are still maintenance costs and taxes but that is small compared to the mortgage.
Bought my house in 2008, refinanced to a lower rate in 2011, and paid it off in 2021. Paid extra on the mortgage every single month and saved hundreds of thousands.
Because sociopaths rule the world
Why can’t you enjoy things as much as in youth?
you could always harvest the materials on your own and build it yourself like they did in the old days….
Probably because you made bad decisions. I bought two houses before the age of 32. And I’m only 37
It’s our duty to consume and pay taxes
bought a house in 2000/1 and paid off in 2014, no need for rent which makes a huge difference
>i mean in old age it really doesn’t matter where you live
Revisit this statement when you’re a bit a older.
Bought my 1st house at age 28. Sure it was only an 80,000 house but 19 years later it’s paid off and I could sell it for at least 170,000.
I live in my house right now.
Im glad i bought my house when i was young
It didn’t take that long for rents to exceed my house payment and bills.
I ended up making enough to almost pay for my second, much nicer house
A few years ago. I sold it and bought a smaller but beautiful country home.
I got to live in a house the whole time, so it wasn’t like i just had it for a few years.
If i had never bought a home, i would be on the streets with the way rent is today. Instead, i live rent free.
People are buying houses? Shit I plan on just living out of my car.
Don’t wait 50 yrs to buy a house. Figure out a way. We bought our first house when I was 25. It was a dump and I learned how to fix it up and we sold it for a nice profit. Did the same to the second house. If it’s what you want figure out a way.
You’re lucky you can buy a house.
What’s more, why are we working away half our lives to buy homes that start falling apart in the first 4 years of being built
Because there are no other options in a society largely based on money.
Even if you tried going “back to the land” tomorrow to feed you and yours, you still need money to pay taxes, and to buy the land and supplies to start with.
Of course, the work we do now is a lot easier than subsistence farming to stay alive. A run of bad weather at the wrong time could kill you. Now it’s just inconvenient.
I’m buying my house so that my son actually is able to own something in his lifetime. I don’t know what will happen after I’m gone, but I know the future of my bloodline will have a roof over his head always. I plan on paying it off at 50, giving it to him, and traveling the country in a kitted out Honda Element.
Taking from tribe with less pointy sticks isn’t fashionable anymore
That’s a Losing mindset.
Successful people live with roommates until they think the market is s Buyer’s Market and then buy a fixer-upper they can afford or buy with a roommate or partner.
You’re going about it All wrong.
I retired at 38. I was a teacher. I earned the same amount as my colleagues but they are still working because they kept upgrading to bigger homes and I lived frugally and refinanced my small home to a 15 year loan instead.
You can roll in the Comfy Mud pit of “life’s not fair” with all the other pigs, or you can figure out your own plan or take advice from successful people who started out like you, and brave bring called stupid to see if you can make your way work.
Step 1: Delete all food delivery apps from your devices. We have never used those- it’s throwing money away.
Step 2: post your last 3 months of expenses- averaged per category, in r/personalfinance and get advice.
I actually lived at work for two years. That also worked.
We can’t afford to buy a home anymore, lol
Renting has its downsides in old age. When you’re younger you can handle an unexpected move because your landlord decided to sell or the company that owned your building went under and couldn’t sell in time. When you’re 70, it’s a lot harder and more expensive to accomplish. There’s a lot to be said for stability in old age and that’s key to thriving in retirement. If you’re loaded, then it doesn’t matter as you can easily outsource the labor of packing and moving.
Your math isn’t mathing.
You work half your life to buy a home, then you should have half your life left to enjoy it.
LOL I’ll be 185 years old before I can afford to buy a home but that’s OK because the retirement age will be 198.
We don’t. We work most of our lives to provide ourselves with food, clothing, shelter etc – the necessities of life – during the period we work, and during the remainder of our lives afterward.
Unless you’re independently wealthy, you’re going to need to work – why wouldn’t you? Who do you think wants to pay to feed, clothe and house you?
Setting aside the terrible situation where people DO have to wait years to afford one…
We don’t stop deserving happiness, joy, comfort, just because we get older, right? Whether you are 25, 45, or 65 when you buy a house, you’re still a human being deserving of enjoying a nice place.
I’m getting older, and I’d certainly hate to think that I don’t deserve nice things anymore because I’m “too old” to deserve them.
What’s the alternative? Rent and end up with nothing to show for all the $ spent?
I just closed on a house at 25, there’s many reasons I wanted my own home and me and my family will enjoy it for many many years to come.
Not sure of your life, but I purchased before I turned 25. I’ve been a homeowner for 17 years. And based on my grandparents, my life is half over now or within 10 years. If I use my oldest grandparent, I will be a homeowner for 74+ years total. I do need to work on reducing the principal of my current home before I retire, but that’s over 20 years away, so hoping I can figure that out.
Are you basing this on when a mortgage is paid off? For those able to afford a home this is frequently done by middle age. It would still make more sense though to base it on when you move in, IMO. Which can still be quite young, once again assuming you have such fund levels to get into a home.
I thought I’d pushed it off in life by not getting in during my 20s and instead waiting until my 30s.
My house is my savings account. It will be there for me to sell when I’m too old to live in it, or for my family to have or sell if I die prematurely. Instead of paying a landlord rent, I’m paying into my future with equity.
I never understood it, someone once told me live your life don’t work it then when you get old and can’t work get in trouble and get free meals, a barred room, rec time and all the books you can read for free till you pass
The answer to this, and a million similar questions, is to consider the alternative.
Stop going to work. What happens?
For me, I would end up homeless and living in the streets. That would be worse than my desk job, so I go to work.
You get to live in it while you pay it off you know
A lot of people say that when you have a mortgage the bank owns your house. This is misleading you own 100% of your house. The bank just has a contract that you owe them money and if you don’t they can take your house.
There are a ton of benefits to owning a home that you can experience while paying off the bank (more than having a place to live obviously). It essentially turns into a physical savings account for your wealth
Because people with power profit from that, wo they keep the business going and the population growing.
Building yourself a house would cost you 1 year or 2 of labour and 1 of wages for the materials, if we had access to land, a stable population, and enough freedom to do it.
I don’t like the idea. Just rent.
we work to maintain a healthy economy, which means we get taxed to pay for human services, infrastructure (maintenance), and all the other privileges we enjoy because of a well-funded government. But unfortunately, the rich are taking away as much as they can to keep us on poverty-wages
I’m glad I bought my house 22 years ago. My house payment is a lot less than rent these days.
Tell me you’re 15 years old without telling me
The other option is rent where you always have to pay
Ehm.. the moment you take a mortgage you already live in it.
Who told you that you have to wait that long
I know tons of folks who start buying in their 20s
The key is low standards. You can go buy a mobile home tomorrow. Pay it off, sell it, upgrade