A question I’ve entertained a while.
I can’t afford a home; and I don’t want to take on debt for a place to live. I’m in my 40s, I started saving a bit late, and I don’t know that I want the stress of property ownership.
I break the problem down a few ways:
Big picture: am I brought joy and deep fulfillment from owning a piece of property? I can’t say definitively “yes,” so I will default to “no.”
Will it cost more in the aggregate to own vs rent? It will cost more to own. I’ll need more cash to purchase and maintain a property than I have or could earn in a realistic period of time. Strike two for ownership.
How will I retire if/when I do? I don’t know. I know i have a vision of a simple life, possibly as a store clerk. I’ll make a simple hourly wage, I’ll take the bus to work, I’ll read books, and I’ll do gigs as and when it feels good. The home doesn’t play a role.
I don’t think this question gets filed under existential. I do think about it more now than I have before. Sharing my thought process with you if it helps.
