4 ms·

If a house is a home, I'd rather be homeless. I personally view a house as more of a shackle than a benefit. I enjoy moving every 2-5 years. I value novelty ove

If a house is a home, I'd rather be homeless. I personally view a house as more of a shackle than a benefit. I enjoy moving every 2-5 years. I value novelty over routine. My first 12 years of life were in the same home, but other than that I've been moving around regularly. I am in my late 20s currently, and I'm open to a change in perspective. Maybe there's value in consistency that I will appreciate more at some point. But being told that I won't count as a senior professional until I care about buying property irks me.

esotericn 8y ago
Not my claim at all. My claim is that a senior professional (in _any_ field - not just a senior developer) doesn't care about the cost of rent. It includes your scenario - of course you should be able to rent and move about if you want to. If the cost of the rent is heavy on your mind, your position is not that of a senior professional. The title has become meaningless because it's effectively become an entry-level job. (Externally it looks like in SF, real entry-level jobs result in, well, homelessness or living in a van or something).
Izkata 8y ago
I don't see why any of that would have to change. You sell your home at the same time you buy the new one, and what you get from the sell goes towards the cost of the new home. Money-wise, you're no longer throwing it away on rent, but paying down a mortgage that eventually is paid off entirely. On top of that, you're also no longer racing against the end of the rent contract, and can wait a bit - or move earlier - to find a new place you really like. The turning point for me was, here in Chicago, when I was renting and my dad sent me some properties with the costs laid out: These places were significantly nicer, and the mortgage cost per month was ~60% what I was paying in rent.
- timerol 8y ago
  Basically, because it's much easier (in time and money) to switch leases than it is to go through the hassle of buying and selling a house. There are some markets where owning is cheaper, and some markets where renting is cheaper.
- bwc150 8y ago
  I'm also in Chicago and have done a similar analysis. But I'd argue there are two main reasons for the per-month costs for owning are cheaper than for renting: - Illinois is broke and is going to increase real estate taxes every year for the foreseeable future. So while you can also sell to escape the tax bill, the value will just drop to compensate. - There are many fixed costs to buying a place that aren't reflected in the monthly bills. Such as closing costs on both the purchase and sale (including chicago's lovely transfer stamp tax, realtor commissions, etc). Also keep in mind how many high-rise condo buildings are going up right now. This can only be bad for prices of "old" condos around the city.

esotericn 8y ago

Not my claim at all. My claim is that a senior professional (in _any_ field - not just a senior developer) doesn't care about the cost of rent. It includes your scenario - of course you should be able to rent and move about if you want to. If the cost of the rent is heavy on your mind, your position is not that of a senior professional. The title has become meaningless because it's effectively become an entry-level job. (Externally it looks like in SF, real entry-level jobs result in, well, homelessness or living in a van or something).

Izkata 8y ago

I don't see why any of that would have to change. You sell your home at the same time you buy the new one, and what you get from the sell goes towards the cost of the new home. Money-wise, you're no longer throwing it away on rent, but paying down a mortgage that eventually is paid off entirely. On top of that, you're also no longer racing against the end of the rent contract, and can wait a bit - or move earlier - to find a new place you really like. The turning point for me was, here in Chicago, when I was renting and my dad sent me some properties with the costs laid out: These places were significantly nicer, and the mortgage cost per month was ~60% what I was paying in rent.

timerol 8y ago
Basically, because it's much easier (in time and money) to switch leases than it is to go through the hassle of buying and selling a house. There are some markets where owning is cheaper, and some markets where renting is cheaper.
bwc150 8y ago
I'm also in Chicago and have done a similar analysis. But I'd argue there are two main reasons for the per-month costs for owning are cheaper than for renting: - Illinois is broke and is going to increase real estate taxes every year for the foreseeable future. So while you can also sell to escape the tax bill, the value will just drop to compensate. - There are many fixed costs to buying a place that aren't reflected in the monthly bills. Such as closing costs on both the purchase and sale (including chicago's lovely transfer stamp tax, realtor commissions, etc). Also keep in mind how many high-rise condo buildings are going up right now. This can only be bad for prices of "old" condos around the city.