{"id":265981,"date":"2025-05-31T21:47:09","date_gmt":"2025-05-31T21:47:09","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/finance\/the-inconvenience-of-home-ownership\/"},"modified":"2025-05-31T21:47:09","modified_gmt":"2025-05-31T21:47:09","slug":"the-inconvenience-of-home-ownership","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=265981","title":{"rendered":"The (In)Convenience Of Home Ownership"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div itemprop=\"text\">\n<p><em>Today I\u2019m happy to host a guest post from Alex and Ellie, two Australian bloggers who are writing over at HisHerMoneyGuide.com<\/em>. <em>They\u2019re crushing their financial goals and well on their way to financial dependence and early retirement in their mid-40s. <\/em><\/p>\n<p><em>They will talk to you about the (in)convenience of home ownership. I\u2019m as curious about the subject as you are, as I\u2019ve only ever rented apartments in my life. Currently, I\u2019m living in a small shared apartment, in order to save half my income, fund my <a href=\"https:\/\/radicalfire.com\/negotiate-mini-retirement\/\">mini-retirement<\/a>, and work towards <a href=\"https:\/\/radicalfire.com\/ultimate-guide-financial-independence-retire-early\/\">early retirement<\/a>. I hope to buy a house sooner or later, but you will see that having your own house has both pros and cons. <\/em><\/p>\n<h2 class=\"wp-block-heading\">Home Ownership In Perspective<\/h2>\n<p>A lot is said about the pluses and minuses of owning your own home versus renting from a financial perspective. It\u2019s a topic we\u2019ve covered before on the blog, and essentially it comes down to what your goals are.<\/p>\n<p>Either option is viable if you\u2019re disciplined and financial independence is the goal. If you want to own a house, that\u2019s fine \u2013 but make sure you pay it off. Dawdle and you end up losing money to the bank. If you want to rent for life, that\u2019s <em>also<\/em> fine \u2013 but make sure you save money and invest it. You\u2019ll need those investments to pay for your housing costs in the future.<\/p>\n<p>However, today we\u2019re focusing on home ownership, but we\u2019re putting the long-term financial aspects to one side, at least mostly. Instead, today we\u2019re going to look at some of the more intangible parts of owning a home.<\/p>\n<p>For us, we\u2019ve bought a home and worked hard to pay it off in three years. That felt amazing, and it\u2019s probably our single biggest financial accomplishment to date.<\/p>\n<p>For Alex, our home was the fifth house he\u2019s owned, but for Ellie, it was her first. So we have different perspectives on home ownership, and the quirks that come with it. After all, despite its positives, there are also a few negatives.<\/p>\n<p>For those who have never owned a home, here\u2019s a taste of what you\u2019re in for.<\/p>\n<h2 class=\"wp-block-heading\"><strong>House Proud, House Cloud<\/strong><\/h2>\n<p>When we bought our primary place of residence, it needed renovations. Nothing significant, but it still cost us around $20,000 \u2013 and we largely did it ourselves.<\/p>\n<p>That meant we saved a small fortune. Alex had renovated and <a class=\"rank-math-link\" href=\"https:\/\/radicalfire.com\/best-things-flip-for-profit\/\">flipped<\/a> a couple of houses before and picked up a few extra valuable skills, and Ellie helped out everywhere possible to keep things ticking along. Teamwork!<\/p>\n<p>However, when renovating a house to sell it, you approach it as a job \u2013 you\u2019re there to get it done. You do the best you can, but nothing is ever going to be <em>perfect<\/em>. If it\u2019s wrong, you fix it \u2013 but if it\u2019s not ideal, well, you move on to the next task.<\/p>\n<p>When you own your self-renovated house, you pick up on the imperfections. Sometimes, if you own an old house, these imperfections can be seen to be a <em>charm<\/em>. On newer houses, however, they can rub you the wrong way \u2013 especially if you know it\u2019s not possible for them to be fixed.<\/p>\n<p>If you didn\u2019t make\/renovate the house, sometimes these imperfections can be hidden from sight \u2013 or hidden in plain sight. However, when you worked on something yourself, you <em>know<\/em> where those imperfections are. Heck, you\u2019re <em>responsible<\/em> for them. And you see them every single day.<\/p>\n<p>So being a home owner and being intimately close to your house can take away some of the joy from owning it \u2013 it can actually cloud your perception of it. With the pluses come the minuses.<\/p>\n<p>However, there <em>is<\/em> a level of satisfaction involved in something like homeownership (regardless of whether you have a mortgage on it or own it outright).<\/p>\n<h2 class=\"wp-block-heading\"><strong>With Great Power Comes Great Responsibility<\/strong><\/h2>\n<p>You hear about good tenants being those who treat the house like it was their own. On the opposite end are others who don\u2019t care if they knock a hole in the wall. While we\u2019ve both always been the type to treat things with respect, there is an extra level of satisfaction and fulfillment when it is <em>your<\/em> possession.<\/p>\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"675\" class=\"wp-image-79112\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Man Using Powertools Drill Fixing Up the House MSN\" data-lazy-srcset=\"https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/08\/Man-Using-Powertools-Drill-Fixing-Up-the-House-MSN.png 1200w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/08\/Man-Using-Powertools-Drill-Fixing-Up-the-House-MSN-300x169.png 300w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/08\/Man-Using-Powertools-Drill-Fixing-Up-the-House-MSN-768x432.png 768w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/08\/Man-Using-Powertools-Drill-Fixing-Up-the-House-MSN-150x84.png 150w\" data-lazy-sizes=\"(max-width: 1200px) 100vw, 1200px\" data-lazy-src=\"https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/08\/Man-Using-Powertools-Drill-Fixing-Up-the-House-MSN.png\"\/><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"675\" class=\"wp-image-79112\" src=\"https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/08\/Man-Using-Powertools-Drill-Fixing-Up-the-House-MSN.png\" alt=\"Man Using Powertools Drill Fixing Up the House MSN\" srcset=\"https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/08\/Man-Using-Powertools-Drill-Fixing-Up-the-House-MSN.png 1200w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/08\/Man-Using-Powertools-Drill-Fixing-Up-the-House-MSN-300x169.png 300w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/08\/Man-Using-Powertools-Drill-Fixing-Up-the-House-MSN-768x432.png 768w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/08\/Man-Using-Powertools-Drill-Fixing-Up-the-House-MSN-150x84.png 150w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\"\/>&#13;<figcaption class=\"wp-element-caption\">Image Credit: AndrewLozovyi\/Depositphotos.<\/figcaption>&#13;<br \/>\n<\/figure>\n<p>Renting comes with a level of disengagement though. Sure, you might change the light bulb \u2013 but you\u2019re not living there with the goal of maintaining it \u2013 that\u2019s ultimately the owner\u2019s responsibility.<\/p>\n<p>Ahh, <em>responsibility<\/em>. That\u2019s also shorthand these days for \u201cadulting\u201d. Responsibility means making decisions and taking action. As a tenant that\u2019s not really part of your vocabulary.<\/p>\n<p>If something goes <em>pop!<\/em> when you\u2019re a tenant, you just shrug your shoulders, contact the rental agent, and call it a day. <a href=\"https:\/\/parentportfolio.com\/what-a-landlord-cannot-do\/\" data-type=\"URL\" data-id=\"https:\/\/parentportfolio.com\/what-a-landlord-cannot-do\/\" rel=\"noopener\">When you\u2019re the owner<\/a> (either as the occupier, or a landlord), you have to think about the long-term consequences of your decisions.<\/p>\n<p>Say the oven or air conditioner is busted. Okay, is it fixable, or does it need replacing? What\u2019s my budget? How long am I going to own the house, and should I get a better model that might make the house more sellable?<\/p>\n<p>On the plus side, as the owner, you\u2019re also in control. You can fix \u2013 or not fix things at your leisure.<\/p>\n<p>Tenants don\u2019t have that luxury. Some landlords can be real jerks, and they won\u2019t fix <em>any<\/em> problems \u2013 despite repeated requests. Unless the power goes off, or the hot water system dies, landlords often don\u2019t need to act, and even if they do, some still drag their feet.<\/p>\n<p>So once again, the convenience of home ownership isn\u2019t a one-sided affair.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Compounded Worries<\/strong><\/h2>\n<p>On a similar note, ownership of a home comes with added worries that a renter doesn\u2019t necessarily share.<\/p>\n<p>We have a pair of investment properties, which are rented. During the Australian summer storm season, thunderstorms pick up over the area where those properties are. If a severe weather warning is issued, thoughts invariably turn towards our houses. After all, we\u2019ve had storm damage before.<\/p>\n<p>With storms comes wind, and in our area of the world, the possibility of hail is always present in summer.<\/p>\n<p>In massive storms, roof tiles and windows can be smashed by large hail; metal sheet roofing can be torn off and sheds can fly away in high winds. For a homeowner, this can be a huge and costly issue (even if you have home insurance).<\/p>\n<p>For a renter, this would most likely just be a mild inconvenience (though a roof that\u2019s <em>totally<\/em> torn off as opposed to just damaged is likely to damage their possessions as well).<\/p>\n<p>We know such damage can occur because it has happened to us with our current house during a storm.<\/p>\n<p>These concerns extend to things like break-ins.<\/p>\n<p>Alex\u2019s first home was broken into (while he wasn\u2019t home), with people breaking in through a window. In this instance, the threat to your sense of personal security and risk to your possessions is shared by owners and renters alike.<\/p>\n<p>However, owners are the ones who are left with the repair bill for damage to the building \u2013 whether they have insurance or not (and you should always have insurance for exactly these cases!).<\/p>\n<p>In addition to weather-related concerns, enhancing home security is often a priority for homeowners. A reliable <a href=\"https:\/\/allsecurityequipment.com\/collections\/residential-door-operators\" rel=\"noopener\">(door operator) suitable for a residential space<\/a> can contribute to peace of mind, making managing access to your property simpler and more secure, especially during times when severe weather could leave your home vulnerable to break-ins.<\/p>\n<h2 class=\"wp-block-heading\"><strong>There Are A Few Benefits<\/strong><\/h2>\n<p>While I\u2019ve been pretty non-committal about the benefits so far (with corresponding negatives often nullifying matters), there are a few firm conveniences that home owners enjoy over renters.<\/p>\n<p>If you\u2019re looking to do any decorating like painting walls (and sometimes even <em>changing the curtains<\/em>!), you don\u2019t need to ask your landlord for approval. It\u2019s your house \u2013 you can just go on right ahead, without needing to wait, raising eyebrows, or risk of your request being rejected, eviction, or a hit to your bond.<\/p>\n<p>Want to knock a hole in the wall to put in a new air conditioner? Go for it. Replace the bathroom mirror? No worries.<\/p>\n<p>While some landlords are more than happy to grant such requests, others certainly are not. Depending on the nature of requests, landlords will either ask tenants to pay for it (mostly if the requested change is just a preference), or repair things at their expense if it\u2019s something that\u2019s actually in need of repair\/replacing.<\/p>\n<p>Some landlords can be nasty, while others can be accommodating. But in any case, it takes extra time to get things done compared to <em>you<\/em> being the home owner.<\/p>\n<p>Of course, there are also the financial considerations of renting (and having things repaired for you), but remember that we\u2019re largely ignoring those today.<\/p>\n<h2 class=\"wp-block-heading\"><strong>A Worry-Free Retirement?<\/strong><\/h2>\n<p>If you\u2019re looking for a stress-free retirement, there\u2019s a lot to be said about not owning a home and just renting instead. There are extra worries and responsibilities that come with home ownership that as a renter you can largely avoid.<\/p>\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" class=\"wp-image-69877\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Woman Holding A Mug Sitting In A House Couch\" data-lazy-srcset=\"https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/02\/Woman-Holding-A-Mug-Sitting-In-A-House-Couch-MSN-1024x576.jpg 1024w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/02\/Woman-Holding-A-Mug-Sitting-In-A-House-Couch-MSN-300x169.jpg 300w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/02\/Woman-Holding-A-Mug-Sitting-In-A-House-Couch-MSN-768x432.jpg 768w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/02\/Woman-Holding-A-Mug-Sitting-In-A-House-Couch-MSN-150x84.jpg 150w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/02\/Woman-Holding-A-Mug-Sitting-In-A-House-Couch-MSN.jpg 1200w\" data-lazy-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-lazy-src=\"https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/02\/Woman-Holding-A-Mug-Sitting-In-A-House-Couch-MSN-1024x576.jpg\"\/><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" class=\"wp-image-69877\" src=\"https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/02\/Woman-Holding-A-Mug-Sitting-In-A-House-Couch-MSN-1024x576.jpg\" alt=\"Woman Holding A Mug Sitting In A House Couch\" srcset=\"https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/02\/Woman-Holding-A-Mug-Sitting-In-A-House-Couch-MSN-1024x576.jpg 1024w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/02\/Woman-Holding-A-Mug-Sitting-In-A-House-Couch-MSN-300x169.jpg 300w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/02\/Woman-Holding-A-Mug-Sitting-In-A-House-Couch-MSN-768x432.jpg 768w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/02\/Woman-Holding-A-Mug-Sitting-In-A-House-Couch-MSN-150x84.jpg 150w, https:\/\/radicalfire.com\/wp-content\/uploads\/2023\/02\/Woman-Holding-A-Mug-Sitting-In-A-House-Couch-MSN.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/>&#13;<figcaption class=\"wp-element-caption\">Image credit: deagreez1\/DepositPhotos.<\/figcaption>&#13;<br \/>\n<\/figure>\n<p>That said, the inconveniences really aren\u2019t <em>that big<\/em>. If you conduct proper checks and maintenance on your house, some of those risks can be avoided. It\u2019s no different from being prepared for financial emergencies \u2013 identify risks, try to be ready for them, or even better remove the risk entirely.<\/p>\n<p>It\u2019s all about balancing the risks and rewards and deciding for yourself which route is best. We\u2019re massive fans of taking personal responsibility, and arming yourself with knowledge \u2013 thinking about your options, making a decision, and not blaming others if it goes wrong (or having the warm, fuzzy feeling of getting it right).<\/p>\n<p>In early retirement, we\u2019ll arguably have the best and worst of both worlds.<\/p>\n<p>We\u2019re going to stay being home owners, but we\u2019re planning to travel for up to five months of the year, lodging in Airbnbs and hotels. During that time, we\u2019ll arguably be tenants. If something goes wrong, we\u2019ll contact the host\/management. We\u2019ll be at home for the remaining seven months of the year \u2013 but we\u2019ll still own it (and other investment properties) for the remaining 12 months of the year irrespective of whether we\u2019re there or not.<\/p>\n<p>For us, we want the stability of having our own house. We don\u2019t want to find out two weeks into a 10 week holiday that we\u2019ve been given the notice to move out of our home. That would be a nightmare! So score one for home ownership.<\/p>\n<p>That said, because we\u2019ll be away from home so often, we\u2019ll have a home security system installed. With cameras, we can monitor from overseas, and extra security features like security screens and roller shutters, that\u2019ll give us peace of mind. Good luck breaking into that fort!<\/p>\n<p>Once again though, it\u2019s swings and roundabouts; pluses and minuses, conveniences and inconveniences. Life can never truly be easy, can it?<\/p>\n<p>Cheers,<\/p>\n<p><em>Alex and Ellie, HisHerMoneyGuide.com<\/em><\/p>\n<p><strong><em>PS: Do you see home ownership or renting as being the more convenient option?<\/em><\/strong><\/p>\n<div class=\"saboxplugin-wrap\" itemtype=\"http:\/\/schema.org\/Person\" itemscope=\"\" itemprop=\"author\">\n<div class=\"saboxplugin-tab\">\n<div class=\"saboxplugin-gravatar\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" width=\"100\" height=\"100\" alt=\"Radical FIRE Financial Independence Retire Early - Ecuador Photo with Dog Labrador\" itemprop=\"image\" data-lazy-src=\"https:\/\/radicalfire.com\/wp-content\/uploads\/2019\/01\/Knipsel.webp\"\/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/radicalfire.com\/wp-content\/uploads\/2019\/01\/Knipsel.webp\" width=\"100\" height=\"100\" alt=\"Radical FIRE Financial Independence Retire Early - Ecuador Photo with Dog Labrador\" itemprop=\"image\"\/><\/div>\n<div class=\"saboxplugin-desc\">\n<div itemprop=\"description\">\n<p><strong>Founder of Spark Nomad, Radical FIRE, Journalist<\/strong><\/p>\n<p>Expertise: Personal finance and travel content<br \/>Education: Bachelor of Economics at Radboud University, Master in Finance at Radboud University, Minor in Economics at Chapman University.<br \/>Over 200 articles, essays, and short stories published across the web.<\/p>\n<p><strong>Experience<\/strong>: Marjolein Dilven is a journalist and founder of Radical FIRE, a personal finance platform, and Spark Nomad, a travel platform. Marjolein has a finance and economics background with a master\u2019s in Finance. She has quit her job to travel the world, documenting her travels on Spark Nomad to help people plan their travels. Marjolein Dilven has written for publications like MSN, Associated Press, CNBC, Town News syndicate, and more.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Today I\u2019m happy to host a guest post from Alex and Ellie, two Australian bloggers who are writing over at HisHerMoneyGuide.com. They\u2019re crushing their financial goals and well on their way to financial dependence and early retirement in their mid-40s. They will talk to you about the (in)convenience of home ownership. I\u2019m as curious about [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":265982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[1159,95201,20658],"dealstore":[],"offerexpiration":[],"class_list":["post-265981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-home","tag-inconvenience","tag-ownership"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The (In)Convenience Of Home Ownership - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=265981\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The (In)Convenience Of Home Ownership - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Today I\u2019m happy to host a guest post from Alex and Ellie, two Australian bloggers who are writing over at HisHerMoneyGuide.com. They\u2019re crushing their financial goals and well on their way to financial dependence and early retirement in their mid-40s. They will talk to you about the (in)convenience of home ownership. 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