The Deception of the Thrush

I find that there's something very psychologically comforting about having my own space. Part of it is, as you observe, that you have "complete power over what occurs within it."

There's a kind of serenity that comes with knowing you're more or less permanently settled. I never had that when I was changing apartments every year or two. I never felt like any place I lived was really mine. The house changed that.

There are more mundane considerations, too. I certainly don't miss living with the noise and smells of my neighbors. I don't miss the annual or bi-annual hassle of finding a new apartment and moving. I like having the freedom to have two cats and a big dog. I like being able to put up half a dozen family members when they invade on their semi-annual visits. I like not having to carry my bike up two flights of stairs. I like knowing I can paint the walls hot pink, or tear down the walls entirely, without repercussions.

I do despise much of the upkeep. I don't particularly like gardening or yardwork, and although the house may turn out to be a good investment in the long run, it's also a serious drain on resources. But it's worth it to me -- thought I can see how it isn't for everyone.

Stacie-- your points are well-taken. Particularly not lost on me is the sad state of not being able to own pets. I do see some contraband kitties every once in a while but I, alas, don't have the courage to be so defiant of my landlord.

And in general, yes, it's hard to have company over at an apartment. Even if it's a decent-sized one, there's something about making your company walk up stairs, going past, as you put it, the smells and sounds of your neighbors, and so on.

It is interesting that you cite the feeling of permanence as one of the comforts of owning your own home. I think the same permanence is one of my biggest fears. It's not like you can't sell the thing, if you ever needed to, but still, you expect to be there for a decent period of time. I guess at this phase in my life I like to be light on my feet. I don't want possessions -- especially actual property -- to be weighing me down, keeping me in one neighborhood, one city, one state, one lifestyle. It's a byproduct of indecisiveness, I suppose, and perhaps at some time the indecisiveness will get old and I too will crave stability more than anything else. We'll see.

Karin, the "permanence" of home ownership is scary, and it wouldn't have made sense for me at an earlier point in my life. But by the time we bought a house, we had stable jobs in an area we planned to stay in for at least five or six years. The time was right for a little permanence. When I was still a full-time grad student, owning a home was just not something I could get my head around -- home ownership was for other people with different kinds of lives. A few more years passed, and lo and behold, I had the kind of life in which buying a house just seemed like the right thing to do -- but it wasn't always that way.

Sorry to take so long to respond. Steve -- yes, I think my understanding of your landlord-related comments was exactly how you have stated it here. But the thing is, both rent and the mortgage involve regular payments. Yes, there are some financial tricks you can play with mortgages that could be beneficial down the road, and there is always the long off hope that you'll finally finish paying it off one day. But those perks would never be a factor that would motivate me to buy a house -- there's a million other ways I could invest my money. But as I understand it, many people cite "investment" as their primary motivation for purchasing a home.

Stacie -- Yep, much of the early academic years are nomadic ones so home ownership becomes a ridiculously impractical idea for some of us. But aside from these practical concerns, I really think that there is a psychological transition -- at least for me there would have to be -- at which you develop a sort of homeowner's ethos, whatever that entails...I think, even if I landed into a stable job one day, at which point "permanence" would make sense, I still might feel a bit of residual resistence-- it would almost seem weird, I think, after living in cheap, teeny apartments that one day I would have an entire edifice, equipped with all the utilities, all devoted to ME, ME, ME -- even if by that point in my life I had acquired a spouse or, better yet, a cat, I would still feel a bit overwhelmed by the whole thing.

Making any big commitment leaves me overwhelmed at first. It helps to have someone else involved and also effected by the decision, though---someone to share the "oh, my God, is this the right thing to do?" feeling.

Incidentally, Karin, how would you invest your money if you had enough to invest? Don't think the stock market is too comfortable right now--actually real estate is probably the best investment at this point. (Really, though, I don't claim to know very much about investing--never have been much of a gambler--worked too hard for my money!)

Glad "acquiring a spouse" is still on the horizon for you. No one is getting any younger here! Besides 2 incomes are better than one.

Incidentally, how much more rent would you be willing to pay so you could have a cat?

I can't say I have ever considered options with respect to investing my money. Not really feasible now and hovering somewhere around #359 on my list of future priorities.

Can't look for another apartment right now -- I'm locked in for at least one more year. I am considering looking for another place one day, and probably paying more than I am for this one, perhaps in the interest of getting a cat. But it's really so far in the future I haven't at all thought about it seriously.

Most investment experts (at least the ones I see on TV and hear on NPR) don't advise buying a house as an investment strategy. While it is true that home ownership might make financial good sense (as Steve illustrates), it shouldn't be viewed as an investment. The main reason is that when you sell your home, you will most likely need to buy another one. Unless you sell at the upper end of your home's value range and find a spectacular deal on a new house or move to a substantially cheaper market, your savings account will not get fuller.

If you want to invest money for the long haul, you are probably better off not trying to game the stock market (which I've tried with mixed results). It is time-consuming and frustrating and not always profitable. Broad based index funds are the way to go (S&P 500, Wilshire 5000, etc). Of course, these investments are somewhat "riskier" than bank savings accounts and government bonds, but the average rate of return is much higher (historically).

Hi, Jim,

(Notice how easily Karin side-steps some of my comments--especially the one about the future spouse!)

As for homeownership, at our stage in life, when we sell our home we will certainly be downsizing and will hopefully realize a profit from it. However, when we move to a higher-housing market area (as Collinsville, IL, or Pittsburgh, PA!) to be closer to one of our children, that may be eaten up.

Incidentally, when we were in our middle 20's we invested in a 403b which projected a tidy sum for retirement--HA! We've lost money there. What small amount is there sits waiting to rollover when the market is better?????

I suppose we should invest in CD's, but I am reluctant to tie up our money when we are this old. Right now its in Money Market savings--earning squat.