Buy a House

So many of the homes for sale are ugly or at the very least, uninspired. I am also appalled at how square footage is often wasted – square footage that you must cool, heat, clean, and pay taxes on (at the tidy rate of 3% in Austin!). My current idea is to build a home instead, something with about 1100 square feet. I’ve been looking into Katrina Cottages; the house plans are $700 from Lowe’s, and Lowe’s sells everything to build one. www.lowes.com/katrinacottages
I’m also rather in love with this house:
https://www.topsiderhouseplans.com/collections.asp?c=PATIO&plid=62

My next step is to volunteer with Habitat for Humanity to see what this house building thing is all about, and to try to determine what portions I could do myself.

Cons
-more insurance cost (home owners more expensive than renters)
-higher utilities
-maintenance costs, esp. new roofs, foundation work
-lawn care costs OR
-buying lawn care and gardening machinery, trashcans
-more transportation costs (probably if you have to live in suburbs)
-more life insurance needed to cover mortgage
-property taxes
-increasing taxes with increasing home value
-buying more furniture and furnishings, microwave
-pest control service, termite service
-trash pickup fees
-more worry than with apartment (what if community declines? who’s going to move in next to us? did we buy the right house? what’s going to break next?)
-having to house out-of-town guests
-money lost in interest paid towards mortgage
-home owners association dues
-required to live in the same place a long time(3+ years), commitment

Pros
-investment (paying yourself)
-appreciation
-lock in good interest rate (assuming continuing increasing rates)
-getting to house out-of-town guests
-tax break on interest
-more space, more storage space
-garden feasible
-cat allowed
-foreign exchange student feasible
-room for family
-room for exercise equipment
-curbside recycling service
-grilling out in backyard
-easier to wash car and do maintenance
-garage to protect from hail/sun
-pride in ownership
-allowed to paint and remodel
-no more bad apartment management/ stupid rules
-no worrying about apartment charges/refund of security fees upon move out
-no yearly rent increases
-quieter, presumably

Somedays I want a house really bad, other days I like the freedom of having an apartment. No worrying about fixing things or keeping the yard up…

But, I realize that a house is an important investment so that you’re not throwing away money the rest of your life. Plus, having a house means I can more easily accomplish other goals such as have a garden, have a cat, have kids, and host a foreign exchange student.

Whether I’m in the mood to look at houses at the moment or not, my husband and I save for this goal every month.