How many in here own their own home?

[CosmicCowboy]

Curious...prices are crazy but real estate is still a great investment...home price increases have been beating inflation for several years now even with the high property taxes in Texas. It seems like home prices still balance out in low property tax states. Im looking for a house in the Gunnison/Crested Butte area where property taxes are low, but price per square foot are really high. Its not unusual to see asking prices in the $600 per square foot plus.

[Harry Callahan]

Gunnison/Lake City is a super nice area speaking from personal experience over 25 years of summer vacations. Great summertime weather, but also harsh winters can happen.

Prices historically have been pretty high out there, but I think a lot of younger people don't want to go "that far" into the boondocks - at least with the Lake City and Gunnison area. There are properties available out there, but I don't know that you could call them a "Good Deal". If you have a Texas property that you are looking to sell, the stretch to get something in CO may not be as much of a stretch. If you are looking for a summer place, I do see properties available regularly when I visit. Maybe still a little pricey for a "2nd Home", but there is turnover.

I am not well versed on Crested Butte. Good Luck!

[CosmicCowboy]

Gunnison/Lake City is a super nice area speaking from personal experience over 25 years of summer vacations. Great summertime weather, but also harsh winters can happen.

Prices historically have been pretty high out there, but I think a lot of younger people don't want to go "that far" into the boondocks - at least with the Lake City and Gunnison area. There are properties available out there, but I don't know that you could call them a "Good Deal". If you have a Texas property that you are looking to sell, the stretch to get something in CO may not be as much of a stretch. If you are looking for a summer place, I do see properties available regularly when I visit. Maybe still a little pricey for a "2nd Home", but there is turnover.

I am not well versed on Crested Butte. Good Luck!

Yeah, I love the area. My double diamond ski days are over after the knee replacements but I have been skiing, snowmobiling, 4 wheeling and fly fishing in the area for 25 years. I've skiied just about every area in Colorado and have liked Crested Butte the most. And yeah, I am looking at a 4000sf house between Gunnison and CB and will sell my house in SA and move most of the furniture etc. there. I plan to spend summer/fall in Colorado and Winter/Spring at the lake house when I retire, plus will join the kids for ski trips in the winter.

[Spurtacular]

Pity post.

[Leetonidas]

I do. Purchased 3 years ago when the entire neighborhood was under development and have seen a nice increase in the value since everything has been built since then. Property taxes have skyrocketed though

[SnakeBoy]

Paid our house off in 2008 I think. Paid $220k. Zillow puts it at $1.1M now. We planned to stay here forever but if this keeps up we may have no choice but to sell and retire somewhere else.

We know 2 olds couples that do the summers in Colorado thing and one who does summers in BC. They all love it.

[spurraider21]

just bought our current place in october 2020

i dont really care much for the zillow estimates, but its already about 10% higher than our purchase price

[BD24]

I used to and sold a few years back, turned a nice profit. Rent an apartment downtown now instead. Home ownership is just such a pain in the ass. I’ll probably buy again in the future, but I’m good renting for now. Just a lot more carefree

[DMC]

Paid our house off in 2008 I think. Paid $220k. Zillow puts it at $1.1M now. We planned to stay here forever but if this keeps up we may have no choice but to sell and retire somewhere else.

We know 2 olds couples that do the summers in Colorado thing and one who does summers in BC. They all love it.

Similar situation but not considering selling ATM.

[DMC]

I used to and sold a few years back, turned a nice profit. Rent an apartment downtown now instead. Home ownership is just such a pain in the ass. I’ll probably buy again in the future, but I’m good renting for now. Just a lot more carefree

In 10 years you'll have spent hundreds of thousands on rent and you'll have nothing to show for it. With houses, you're basically being paid a deferred salary to live there.

[SnakeBoy]

Similar situation but not considering selling ATM.

Neither are we. I'm talking 10-15 years from now if the value keeps going up at this rate.

[BD24]

In 10 years you'll have spent hundreds of thousands on rent and you'll have nothing to show for it. With houses, you're basically being paid a deferred salary to live there.

I understand the benefits of home ownership. I just dont feel like dealing with everything else that comes with it at the moment. I realize I’ll lose some money long term because of that, but I’m ok with that. I’ll probably buy a townhouse or house near downtown in a few years time

[SnakeBoy]

With luck Texas will turn blue around the time we retire and Texas will switch from property tax to a state income tax

[Trill Clinton]

I own a home

[Joseph Kony]

Owning a home was awesome at first especially since I bought a brand new one but I soon learned that keeping up with it is a huge pain in the ass

[BD24]

Owning a home was awesome at first especially since I bought a brand new one but I soon learned that keeping up with it is a huge pain in the ass

This

[CosmicCowboy]

Paid our house off in 2008 I think. Paid $220k. Zillow puts it at $1.1M now. We planned to stay here forever but if this keeps up we may have no choice but to sell and retire somewhere else.

We know 2 olds couples that do the summers in Colorado thing and one who does summers in BC. They all love it.

Same with my house in SA. Bought in 35 years ago when the property was still relatively cheap. Obviously spent money over the years but have 2.5 acres in the house/barn compound inside Wurzbach parkway. A 1 acre empty lot behind me just sold for 350K.

[Blake]

Owning a home was awesome at first especially since I bought a brand new one but I soon learned that keeping up with it is a huge pain in the ass

Yah. If you really start crunching numbers I'm not so sure you're better off with buying unless you're planning on selling at some point. There are definitely pros to renting that many people don't think about.

[GAustex]

Paid my North Austin house near domain 4 years ago.
I looked again today and another brick has turned into gold.

[Blake]

Same with my house in SA. Bought in 35 years ago when the property was still relatively cheap. Obviously spent money over the years but have 2.5 acres in the house/barn compound inside Wurzbach parkway. A 1 acre empty lot behind me just sold for 350K.

Yeah no doubt. My chauffeur just sold his vacant lot up in Encino Park for $527.2k.

[spurraider21]

I used to and sold a few years back, turned a nice profit. Rent an apartment downtown now instead. Home ownership is just such a pain in the ass. I’ll probably buy again in the future, but I’m good renting for now. Just a lot more carefree

one of the good lines ive heard is that rent reflects the most you'll pay in a given month, while the mortgage reflects your minimum

[CosmicCowboy]

Yeah no doubt. My chauffeur just sold his vacant lot up in Encino Park for $527.2k.

Don't be jealous, Bluck. Life is all about planning and making good choices. Your ex obviously understood that.

[spurraider21]

In 10 years you'll have spent hundreds of thousands on rent and you'll have nothing to show for it. With houses, you're basically being paid a deferred salary to live there.

true, but thats also contingent on knowing you're going to live there for at least 5-10 years, since during the early years of your mortgage you're paying almost entirely interest, and you have closing costs from the purchase/sale. and upkeep during that time.

but yeah, if you know you'll live in a place for a period of time, equity is obviously a great thing. can also be location specific. here in cville, i dont plan on being here that long, but we ran the numbers, and rent here is high relative to property prices, so buying just made sense. for most people it really just comes down to not being able to save up enough capital for a down payment.

[Joseph Kony]

Yah. If you really start crunching numbers I'm not so sure you're better off with buying unless you're planning on selling at some point. There are definitely pros to renting that many people don't think about.

I definitely plan on selling at some point and buying another house to remodel to my liking. my wife is super into those fixer upper shows on HGTV and i'd like to do something like that some point when we're older. based on zillow, which im not sure how accurate that is, my house has already gone up ~$90k in value since i bought it in 2018.

[BD24]

one of the good lines ive heard is that rent reflects the most you'll pay in a given month, while the mortgage reflects your minimum

Yea. That’s a fair comparison. I lived in my house around 5 years and it seemed there was at least 1 thing that needed fixed or repaired every damn year. The money to fix was annoying…but just the pain in the ass of having to get someone out at your place to fix was almost worst. Anything breaks in my apartment I just call maintience and they come fix it. No lawn to maintain or anything like that. When it used to hail would be worried about my roof getting trashed. Sleep like a baby now when that happens.