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> Owning is nice. But it's more limited and more time consuming. There's a cost associated with that. I'm living in SEA.the cost of owning a house isn't a lot
by tuananh 5y ago
> Owning is nice. But it's more limited and more time consuming. There's a cost associated with that.
I'm living in SEA.the cost of owning a house isn't a lot where i live. so I'm surprised to keep hearing this from those living in US.
can you elaborate a bit more what kind of cost do have when owning a house?
- prewett 5y agoMow the lawn, water the lawn, tend the flower bed, paint the house (or replace the siding), replace the shingles on the roof after the hailstorm, fix the A/C, replace the refrigerator, etc. Some of the those are more frequent that others, of course, but things break over time. Other costs of ownership are property tax (generally about 1% of the property value per year), gas/water/electricity are more expensive than renting because the house is bigger, there is home owners' insurance, and possibly neighborhood association fees. And then when you sell, you have capital gains tax and seller tends to pay the broker's fees for both the buy and seller, which totals up to about 6% of the selling price. There's probably sales tax, too.
- tuananh 5y agohouse in Asia is rather small so no lawn :D you gotta be quite rich to have lawn. we use concrete to build houses here so fixing roof is not needed. AC and refrigerator rarely broke down.