OMG --------You are so NOT a loser because you don't own a house!
I rent. And I made a conscious decision to not buy. It's the smartest decision I could've made.
In the early 2000's I had recently graduated from college (after having gone back as a full-time working adult). I was 41 years old when I graduated in 1998. My main career has been in the vocational/career college arena. I had worked myself up to the position of Dean (since I had gotten my Bachelor's Degree I was eligible for the position as it was a requirement)! I was making more money than I ever thought I would've made.
In the meantime, one of my best friends was flipping houses. He was strongly encouraging me to buy a condo. He could've gotten me the best deal possible. It absolutely could have happened.....But, I knew myself. I am a major worrier! Additionally, I can't deal with life if I have a job I don't like or hate. If I'd had a mortgage and everything that goes with that I would have to stay at that job (or find another one with equal pay).
As it turned out, I HATED being the Dean.
. Fortunately, I was able to take another position (Associate Dean) which I loved but it didn't pay as much. Then, a position opened up that was even better with the same company but further away (still in the L.A. area but in The Valley). I was able to move to another apartment without any issues. The commute from where I had been living all the way to The Valley may not have been feasible (anyone who knows L.A. and L.A. traffic gets what I'm saying).
The downside is that the rent on my apartment in Redondo Beach (North Redondo - not by the Ocean) has been going up 10% every year (since the pandemic moratorium ended) .... Our Apt. is older but in a really great neighborhood. It's two bedrooms but we've added another roommate (we divided off the living room with room dividers) to help with the increasing rent.
I should be getting my first Social Security payment this month (I turned 66 1/2 on March 1). The amount combined with an annuity I get from my late mom (a couple of hundred a month) should enable me to make it because I have no debt (by design). Also, I'll be able to continue working as a substitute teacher to add to my monthly income
I know this post is long but suffice it to say............One of the best decisions I've ever made was to NOT buy a house....And I feel like a winner!!
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