Homeownership: Overrated, Overpriced, and Over It

Hi friends, and thanks for stopping by to read Homeownership: Overrated, Overpriced, and Over It.

The old dream that won’t die.

Back when we were in our twenties, “owning a home” was on the official checklist for adulthood. Job? Check. Spouse? Check. House with a lawn you had to mow? Check.

Our parents owned their homes. Their parents owned their homes. Heck, even the ancestors way back probably owned theirs, although they might have built them out of logs or mud bricks. But it was the norm.

Of course, this was before credit cards, giant mortgages, and real estate listings that look like April Fool’s jokes.

Life before plastic (and plastic debt)

If you grew up in the sixties, you probably remember that credit cards were for rich people. The elite had a Diner’s Club card or maybe an American Express, but the rest of us paid cash. My dad had a couple of gas cards, but no “real” credit cards until the seventies.

Everything – groceries, clothes, vacations – was paid in cash. If you didn’t have the money, you saved up or you went without. And honestly? People survived just fine without financing a new couch over 36 months.

Credit cards were seen as a slippery slope into financial quicksand, and for a lot of people, they were right.

Jobs for life (remember those?)

Without the constant drain of high-interest debt, earlier generations could save up a down payment and pay off a mortgage in a couple of decades. Stable jobs helped, too. Some people stayed in the same job until they retired.

These days, if someone’s been with a company for more than five years, we’re shocked. The stability that made homeownership easier just isn’t the norm anymore.

Student loans then and now

Once upon a time repaying student loans were kind of… optional. If you didn’t pay them back, it wasn’t ideal, but it also wasn’t a financial death sentence.

Now? They follow you like a bad smell. They can’t be discharged in bankruptcy, and they eat into your housing budget before you even start house hunting.

My last house: The Albatross

The last home I owned will forever be known as The Albatross. I swear, every single appliance had a pact to break down in sequence. First, the furnace. Then the hot water heater. The dishwasher wheezed its last breath. The fridge died a slow, dramatic death. By the time I replaced the roof, I was half-expecting the walls to start crumbling just to stay on theme.

Yes, I know. This is “part of homeownership.” But part of homeownership is also watching your savings vanish into a black hole shaped like Home Depot.

As a renter, those monster repair bills are someone else’s problem. And now, as a full-time housesitter, if I keep my calendar full, I’m not paying a mortgage, rent, or even hotel costs. Sure, I water plants and scoop a litter box here and there, but I’m doing it mortgage-free.

Gardening – not my superpower

Let’s not forget another homeownership duty – the yard. Part of keeping your property in good standing is maintaining “curb appeal.” Translation: mow the lawn, plant flowers, pull weeds, and make the place look nice enough so the neighbours don’t call the city or assume you’re running an experimental dandelion farm.

Here’s the thing. I am not a gardener. I have what’s known as a “black thumb.” If plants could scream, mine would’ve been yelling for mercy. I dutifully planted flowers, only to watch them wilt out of pure spite. Weeds, on the other hand, thrived like they were on performance-enhancing fertilizer.

With renting or housesitting, I don’t have to worry about curb appeal. No one’s judging my flower beds. Or lack thereof. The only thing I’m growing now is my collection of travel photos.

Renting isn’t “throwing money away”

I’ve heard it a million times: “But renting is just throwing money away!” You know what else is throwing money away? Paying $12,000 for a new roof you never actually get to sit on.

Renting (or housesitting) gives you flexibility, predictable costs, and the freedom to move when you want. Plus, you don’t have to stress over property taxes, insurance, or whether your washing machine is plotting against you.

Your life, your choice

Owning a home can be wonderful – if it fits your lifestyle and your budget. But it’s not the only definition of success. You can have stability, comfort, and happiness without a mortgage hanging around your neck.