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Freedom and individuality
My landlady has just given me the awful news that she is going to sell the house my daughters and I have lived in for almost nine years. How can I make this situation easier on my kids (7 & 11)? I'm so fed up with being at the mercy of landlords that I'm wondering if there is any way a single parent with a modest income can actually buy a house or condo. How do people with almost no savings come up with a down payment?
(Name not given)
"After 12 years of renting, I too was sick of being at the mercy of landlords. We bought our house in 1997 for less than $10,000 cash for the down payment and closing costs. We patched together the money with a $2,000 grant from a bank that needed to fulfill it's community lending requirements (mortgage brokers know about these things), a $600 rebate from a credit card for letting them make the referral to the realtor (check your credit card mailings for special offers), $3,000 gifted from our parents, $250 from a garage sale, and the rest from our meager savings. I did not believe that it could be done, and yet it happened. It's one of my life goals to never rent again."
Anonymous
From Berkeley Parents Network
The first quote above is from an anguished email sent to the Berkeley Parents Network; the next one is in reply. Need say anything more? Acquiring your own home means a freedom from uncertainty; a freedom from tyranny of that individual, whose interests may not always be the same as yours. He has to keep increasing the rent not only so that his income increases constantly, he has to ensure that rent is never so low that you develop a vested interest in never leaving the house.
But there are other factors. Says John:
We had lived in so many rented houses. The rents were not high, but there were other problems. Like the landlord was never interested in getting any repairs done. Then one day a friend of my wife asked her in my presence, "How much longer do you plan to scrub the floor of somebody else´s house?" It was a very harsh, almost a cruel thing to say, but it hit the target. We wanted to buy a home for a long time, but from that day it became my mission."
Buying a home is rarely a purely commercial decision. Let us see some factors that go into buying a home:
(i) There is never a sense of attachment to a rented accommodation. You are living in somebody else´s house. For every small thing you need the owner´s permission.
(ii) Often, the rented accommodation is a compromise made keeping in view short term aims. Your own home is the result of your thorough search for that house.
(iii) The rented accommodation was designed to meet somebody else´s requirements. It is worse if the house is constructed specifically for renting purpose-it is bound to be soulless.
(iv) It bothers the owner even if you drive a nail into the wall; there is never a question of his allowing you to make any alterations.
(v) You think several times before buying a new sofa or dining table, wondering all the time how would it fit in our home?
(vi) All the time, the rent is going into somebody else´s pocket.
(vii) While you are living in a rented accommodation, prices of houses are going up, taking your home farther away from your reach.
(viii) Your own home gives you a feeling of stability. You can plan your future around your house. When purchasing one, you have already seen things like schools. Soon you are accepted in the community. You feel a part of it. Neighbors would always ask about your rent like they were referring to a delicate subject. Somehow you get a feeling you don´t belong.
(ix) And if your business or work requires contacts, it will be easier to establish rapport with people, and these contacts will last. In the case of rented accommodation, you may have to leave the neighborhood, and you may have to rework the contacts.
Your home gives you a pride. You are the only one with the power to allow anyone to enter the house to inspect it. Paint it and decorate it in any way you wish. Put nails in the walls to hang pictures and artwork. Bring home a pet without asking anyone if it's allowed. It belongs to you.
We will let John the last word. "We did not have money initially for any wood-work. We saved for two years. But then I and my wife selected the best material there could be. For cupboards in the children´s room the colors are of their choice. We are now recovering from initial financial difficulties as my salary has also risen. But it is ultimately the pride and a sense of belonging that my family has for our home-that is the reward." GBrey
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