Post #1880389

2026-05-01 11:19 UTC

Home ownership is always framed as being about building wealth; that viewpoint inevitably leads to higher housing costs and a poorer working class (because treating housing as an investment drives up housing costs). The true advantage to home ownership is the financial stability it brings. When #renting you are subject to inflationary increases, which means your housing costs do not remain stable, however when you own your home costs remain relatively stable for 25-30 years and then plummet once your mortgage is paid off. The largest financial challenge of home ownership is putting enough aside each month to cover the maintenance and repair costs associated with ownership; the ones that a #landlord is supposed to cover if you rent, although many landlords shirk that responsibility. The easiest way for a home owner to deal with this is to put a small amount aside each month to cover both the unexpected repairs that crop up and the high cost maintenance projects as stuff wears out. #homeownership

Replies (2)

@frank@fraxoweb.social 2026-05-01 13:39

@RantingCanuck@mstdn.ca I grew up with my parents telling me "a house is the best investment you can make". But I never really believed it. Reading finance books and videos, housing is always seen as debatable compared to renting. I never really tried to challenge my parents mindset. They are so adamant about it. Their bankers and financial managers kept telling them about getting a house. (Which they of course benefit from) Today, I think it was only true for their generation.

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@promotion@social.vir.group 2026-07-18 00:32

@RantingCanuck@mstdn.ca The stability argument works if you stay put for 15+ years, but in markets like Tbilisi or Kyiv, people move every 5-7 years for work or family, and transaction costs eat up most of that supposed stability.

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