If you’ve never experienced a collapsed shelf in the middle of the night, the hassles of a remodel, or some sort of water emergency, you’re either the luckiest homeowner ever…or you rent. There is no question about it, homeowning is scary. There are unexpected expenses, endless repairs, and at the end of the day, most likely a 30-year commitment to a bank. If you’re not ready to consider regular roofing updates (or even a more cost-efficient EPDM roof repair option) or the cost of finishing your basement, don’t! Sell it all and start from scratch.
Homeownership is Hard
If you managed to purchase a home before the massive price surge from 2020 to 2021, then you understand the joys and sorrows of being a homeowner. Purchasing your first home is such a great feeling. The endless options of paint colors and furniture arrangements are nothing when you realize you can take down an entire wall or replace a bathroom vanity without anyone’s permission. There are definitely great moments of homeownership, but also great headaches.
The process of purchasing a home is painful. Realtors, banks, and title companies can be frustrating and intimidating. This is a HUGE step for many people, but the corporate world is systematic and impatient, making it a daunting process. Once you have the house, expenses continue to climb. Adding a deck or fencing in the backyard can be game-changers in terms of quality of life, but big hits to the bank account. Basically, there will always be a wall to remove or a room to paint, it’s literally a lifetime of very expensive DIY projects.
If all of that sounds great to you and you love the thought of forever home improvement, don’t forget about all the little factors that are out of your control that can make home-owning super difficult. The economy, global pandemics, crime rates, and public school ratings can all drive the value of your home. You can do everything right and your 30-year mortgage can still turn out to be a bad investment.
Perks to Traveling
And now, on to the fun stuff. If you’re no longer tied to the sedentary lifestyle of homeowning, you can spread your wings and see the world. Since the birth of the “nuclear family” in the 1950s, Americans have been fed the idea that homeownership equals success. That idea is starting to change. Fewer millennials are having children and settling down, unlike the generations before them. There is more independence and less contentment with the American way of life, pushing young adults to leave their hometowns in search of something better.
Not interested in staying in the States? No need! Apply to one of many countries that now offer digital nomad or non-lucrative visas. You can work for an American company remotely while traveling the world. A nomadic lifestyle is easier than ever before. Electric vehicles are large enough for road trips, the internet is widely available, and more companies are allowing for remote employment.
Times are changing. Who says you have to own a home to be happy? Don’t be afraid to go outside the norm and live the life that’s perfect for you. You can always purchase a home and plant roots after a few years of travel.