Gimme Shelter

Lifelong lessons come with a price. Going with traditions can sometimes cause discord in money matters. I tend to look at life and see the successes and failures of myself and others. I also see a compulsive behavior that has most of us repeating mistakes when it comes to money.




First thing I should clarify is that I, like many, hit rock bottom but swore never to return. I'm not rich, but I'm frugal and have to live within/below my means. That is the real secret. I've seen people living beyond their means and paycheck-to-paycheck.  I've also been there.


When it comes to shelter, I have rented most of my life I've also owned for awhile. I prefer renting


and have my reasons beyond these valid points. Home ownership is great and has great benefits, each person has to see what is right for them.


I made mistakes when I bought a house. It was a money pit that bled me to live beyond my means. I was a naïve and trusting person, which would normally be a red flag. Then it was the era of predatory lending. The house I bought wasn't exactly in a desirable neighborhood.


Renting is great because I have no maintenance, repairs, etc., bills that most home owners must deal with. Yet, lets not forget that home owners have their home as an asset to them because it has value.


We could go on forever as to the pros and cons of renting or ownership or even the rental property ownership. Whichever scenario you are capable of and makes or saves you money should be your goal.


If homeownership is your thing, do your homework. Will the neighborhood be the same in 30 years? Can you sell the house for a "get/got" profit in the future? Can you rent it FOR A PROFIT? If it's going to cost more to maintain and the neighborhood is going downhill, it might become a money pit.


The great thing about renting is that you can get up and move after the fulfillment of the lease agreement. You don't have to maintain the property. You don't have to clear the sidewalk of snow in the winter or mow the lawn in the summer. Something breaks down or there is a major problem. the landlord should be responsible if it is reported in timely manner.


Renter beware! Read your lease carefully before you sign! Landlords are trying to shift responsibilities in leases making the renter responsible for certain maintenance tasks.


After your first year, you have a right to move by giving just a 30 day notice to a landlord. Clean the apartment when moving because landlords keep your total security by nit picking.


Bottom line: Whether you own a home, rent a home, or are a landlord, when it comes to real estate, DO YOUR HOMEWORK!!!