As long as we have property taxes no one will ever truly own a house. There's absolutely no valid reason to continue paying taxes on something you "own" outright. Add to that the expenses of upkeep, insurance, etc and I choose to rent.
You are not paying ON a house you own. Property taxes fund schools in your district. They also fund emergency services., maintain roads etc. If you don't pay you can't stay
@@pamsmith1665you do realize you mist the point right 🤦🏼what do you do when you get the taxes on your house raised to the point you can’t afford it it’s out of your control completely the government has pushed people out of homes in the past because of this for development so the idea that you own your home is a delusional view 🤦🏼
@@adamloveshondas3122 people need to start paying as much attention to their local government as they do the money they budget to live on or maybe more. Do you know what your BOE is paying for? People spend 4hrs every evening watching TV, why not spend 1hr of the 30+ hrs a week reading the budget and keep taxes down. One hour a week is probably to more than needed. Mine pays for every principal and spouse to go to a high end resort for a week (arrive Sunday, check out Saturday) for a beginning of the school year conference. They work 1/2 day and golf, etc the rest of the day. 🤦♀️. Thats 20 principals and guest - 3 meals a day, 20 hotel rooms , conference room rentals, amenities and travel. They should stay in county and save the tax payer!
Owning a home brings financial responsibilities . But it brings a level of stability and security that renting doesnt. Renting just makes you vulnerable to the market. My mum always said even if it is a shack, own it. Just buy something you can afford is what I would say. Even if it means relocating or buying something that isnt your dream house. You can always upgrade later. If you are young, as in below 30, you can always wait till you are ready or the market is more favourable to buyers. Meanwhile think of how you can save. Stay with family, rent with room mates, side hustle etc.
I think there's way more people out there living off of borrowed money. They live in homes that are way too big and expensive. They don't actually have a home, they just think they do. Many will never pay these off in their lifetime. Debt hanging over people's heads causes so much anxiety and depression so many are opting to live in cars rather than be in debt. Watching Van lifers last night helped put things in perspective. These ppl are living with limited possessions because there's no room and they're getting by. I don't think I could deal with such a small space (in a van) but I could certainly live in a much smaller home than I was dreaming about originally. I think managing our expectations can really increase our levels of happiness. We gotta build homes for us..not for entertaining or to keep up with the Jones". People have dining rooms they never use, bathrooms they never use, I rarely go into one side of my kitchen! Anyway, those are my random thoughts. There's ust so many things we think we "need" and don't.
My daughter and her husband are 19 and 20. They paid for their car in cash. They just purchased a 12x40 shed and are cash flowing the inside to live in it. It's on my land until they can save and buy land of their own and have their shed moved to their land. Then they'll build a house and rent out their shed. Might be an option for your teens to do something similar.
@@pamsmith1665 it is a common practice in rural communities to allow children and married children to live on the parents land using a trailer, in-law apartment or ADU to save up to buy land, build a home and then be totally independent. Sometimes there is rent or work around the house/farm in lieu of rent. It is not a culture most suburban and city households understand. Rural communities are interdependent because they live far from services, they help each other. If a farmer breaks a leg and can use his tractor, it’s common for a neighbor farmer to bring in the crops to help. It’s understood that you help each other. Many city people don’t even know who lives next door or on their block, much less everyone in their community. That’s not a criticism, just a fact.
@@pamsmith1665 I am 50 and not as young as I used to be. We live on 20 acres and they help out a lot around the farm. We have horses, cows, chickens, cats and dogs. I actually hope they never leave.
I was below poverty level in nyc due to really hard work i achieved a home. But my children are finding that the struggle is impossible. I pray that things get better for Everyone.
I would not be able to sleep at night if I didnt own my house. We paid it off completely in less than 10 years. My advice is dont buy the highest priced house you can afford. Allow yourself some margin and pay it off as soon as you can even if it means having to rent out a basement or make some short term sacrifices. If it is " less" than what you wanted, you can always upgrade later. That is what we did.
First, thanks for sharing your story. Second, I really appreciate your empathy. I grew up in a 100 year old house and have flipped a few, so renovation became a lifestyle for a time. If I could give any advice, it would be to live small for now, increase your frugal skills, and stay as flexible as possible. All the best to those in struggle
Good video and good vibes and chill some good perspective I don’t want a house I live in my 2008 Honda CR-V I might by a plot of land eventually but I’m not putting a house on it maybe a shed I like the tiny aspect and low impact more of a primitive style it’s crazy how high house prices are and there just not worth it simple is cheap 🤣💯🤓
Learning skills is so important. A house can be anything - a converted van, shed, tiny home, yurt, etc etc and if you learn some skills you can do the work yourself and make a livable space for not too much money. Possibly just for 12 monthly rental payments you could make something really nice - the scariest part is take the leap and go against the norms and believe in yourself - good luck with your homestead.
We are leaving our house for our girls. Two families can live here comfortably with a full kitchen downstairs. If they dont want to live here, they can have a rental income.
I think one mistake a lot of folks make is getting too much debt outside of normal bills and house payment/rent. That "hole" is very hard to dig out of even though it can be done, it's hard and takes sa lot of sacrifice that many folks don't want to do or don't know how to do.
Very wise advice, I often think that folks think that it should happen quicker than it does when having goals. As you mentioned it took 14 years for you to get to a place where you can see your dreams starting to come true with purchasing the land and now it is a case of moving to the next step with gardening and growing food, shelter for the animals since winter will be here before you know it. And spring might be the next time you are able to move forward again with building getting water and electricity. But the time spent moving forward is the time to be grateful you are moving forward. As they say Rome wasn't build in a day. Best of luck to you and your children. I am sure they have been given tons of great advice but working hard for what you want is part of it.
I also think the renovations of university housing in the late '90s and early 2000s gave college students an unrealistic sense of what amenities come for "free". Neither I nor my younger relatives could afford apartments with separate bedrooms, community workout centers, pools, or nearby bus stops. Those of us who didn't live with family members rented rooms in converted early-1900s houses and pre-WW2 apartments built for bachelor autoworkers.
Very good advice here. I agree that home ownership is not for everyone. There are pros & cons to owning vs renting your home. But what is most important, is that people have a home they can go to that fulfills their needs & their family's needs. Everything else is a want, not a need. Keeping things in a positive perspective is so important, even when times are tough.
There's a lot of advantages to multigenerational housing. It doesn't have to be in the same house. I've seen several properties of where there are mutiple size houses on the same land. Happened a lot with farmers. My dad got a 1/2 acre from my grandfather that he built a house when he got married. The issue becomes when there's no jobs in the area so people move. I'm hoping the gig economy or working from home can help resolve that. New subscribers might understand where you came from if you put together some video clips from your library showing where you started to how you got where you are today. Just an idea.
I really feel the struggle with young adult kiddos trying to move out and make it on their own. I have a 22 yr old and a studio in our town runs $700+ per month! She has a decent job and works so hard it hurts to see young people, even people my age, not able to find affordable housing. We are trying to think outside the box to help, but this late stage capitalism game is making life so hard for the backbone workers of this country. 🌵💜
@@lindc1070 I think that's awesome and I would love my daughter to stay with me forever but our house is too small. We're looking at tiny houses as an option to put in our backyard.
@@busybaldaufs896 ok I understand.Our house is big. But generally this is the lifestyle in Asia, kids will stay with parents and sometimes contribute to the household expenses till they get married or are in their 30s and if still single then buy their own place.
@@busybaldaufs896we are looking at the same. Even tiny houses are getting out of control cost wise. I’m balancing trying not to take on any more debt and give my child solid footing. It’s tough.
do as we immigrant Italianos did...get together with friends and family to self-build each's own home!! An ECOhome. TIP: do NOT...go it alone, ever!!! and CO-housing has no Shame, kids! Learn to build what one needs (including food gardening) instead of focusing on "trendy" cr_p, that wastes your $$$/energies. Old N. Italiano-here. Work TOGETHER!!!
Many people do not have a community to help or even a family. I am one of those. I have a few friends and family members but no one to assist with building or money. But I do the best I can.
I find it interesting how immigrants (my husband is an immigrant) can figure it out, while the average American complains about how tough it is. Life was never about things being easy. We cannot expect to have things handed to us. If you want success you have to work hard for it because life has always been a struggle!
@@mycinnamongirlI notice this, too. In Canada, immigrants have no issue with parents, kids, grandparents, maybe 2 families plus grandparents all under 1 roof. Canadians, especially "white" Canadians seem to have a belief that they need way more "personal space" per person.♥️🇨🇦
Hi, I enjoy the topics and your insight on these topics. I feel a lot of hope from your videos. I'm in my late 50's and never own a home. I have lived in a rental country home for 10 years. After I was divorced, my son and I had to leave. You asked a question, "what do you want out of your home?" That was a good point for me; it steers the direction I would like to go for home ownership. Honestly, at this point, I would like some land, a camper, and a truck. Right now I have an apartment, van. and a nice tent. I am taking steps to find property. When I do, I may just have a yurt on it, but like you said, it is a step by step process. Thank you so much for all your video content. It has really helped my life!
I am surprised how much you have been thinking! How much struggle goes into life inspite of having so much! Yes, times are very difficult and unpredictable
Nobody knows what tomorrow brings! The struggles we encounter make our achievements the more enjoyable and appreciated! Personally, I always like to look at everything I have instead of what I don't have!
It is definitely hard for so many, but I do encourage anyone if you work remote or can take a pay cut then move to a smaller town where there is more affordable living. There are towns out there that have houses for sale that are well below one hundred grand, they just need some work.
I’ve owned 16 or 20 properties in my lifetime. I retired at 52 and moved all around the country. It was an adventure buying houses and living in different parts of the country. Now that I’m mid 70’s we rent. Less stress and little to no upkeep. At the price of houses now we would have to move to a more affordable area to own and I don’t have that much gas left in the tank. If I were younger I would find an affordable area. Buy a few acres and build my own house. Start small and design it so it could be added onto if needed. I would build some tiny homes on the property and rent them out. It might take 10,15 or 20 years but that would be my plan based on the economy we are in now.
The one positive of owning your own house even with increased taxes and insurance is stability, nobody can say you have to move out as long as taxes, insurance paid. I think smaller homes are key now rather than huge homes that have been built in past decade. Simpler, smaller home and minimize your belongings. Thanks for sharing as young people need to hear this! Set goals and work toward them!!
When you tell someone don't live beyond your means. They take it as they are less than. When the reality is your trying to help them understand that materialistic things will inturn be thier downfall...
That is the motto my husband & I live by. Always live below your means. Our income has fluctuated over the years but we never waivered from that. While others live beyond their means, we chose to do the opposite. Living a more frugal lifestyle gives us peace of mind.
Once again you continue to inspire and offer hope in a time when hope is often hard to find. You sharing your life journey has really helped me reevaluate mine. Thank you for the great content 😊
I think you are 100% correct about a home not being the be all end all- the fact that you own your self sufficient land is where you are miles ahead in the game but since yall own yer land could ya borrow against it to fund the home build?? Set an amount thatd put yer monthly expenses for tbat within the budget? Seems the instacart might cover 6-800. A month?
Yes there is hope of having a house. #1. Go into Trades. #2. Buy everything Used, especially cars. #3. Learn how to block out “wants”. #4. Learn how to spend LESS than you make. 5. Teach yourself to be Thankful. That will change your ATTITUDE. 6. Your ATTITUDE is what will propel you to your next pay raise or Opportunity. -- WORK. Get those OT hours. -- By the way, if you didn’t know it by now, we live in a Country of Whiners. Turn a Deaf Ear to that. That solves NOTHING!
Yes! All we hear any more is whining and wanting everything handed out for free. My family just spent $80,000 (most of which we paid cash) to build our home on 2.25 acres , 4 years ago. It is possible, but it takes WORK. We worked OT and two jobs, did most of the work ourselves. Owe almost nothing now, just 4 years later.
I’ve watched you for awhile and I would like to know if there is still affordable land out there and where? How do you know what to look for when buying land and did you go to the county to see if you could live on your land without a house on it?
I just did an online "mortgage calculator" and based on my income of 85k a year and only one debt of 600 a month, I can only afford to get a mortgage for 200k. So that means even with being almost completely debt free and having a higher than average income, I cannot afford an 'Average" priced home today... which is about 400k. SICK!!! I currently own my home outright, but I did it because I am thinking about moving and eventually selling this house, meanwhile get a temporary mortgage for something in another less expensive area. No such thing people! Unless you want to live in a trailer or a house that has been foreclosed (and usually heavily trashed).
You have worked hard and that is comendable. Others have as well. I think we are all on our own journey and doing so at our own pace. My goal at 65 is a sm home, gardens, fruit bushes, fenced in yard with a dog pen, my 3 cats and to be able to finally have 2 dogs . Will I get it ? Maybe. I keep drawing plans, saving when I can, my next goal is to get rid of medical debt and to get my Emergency Fund together
I think it's important to keep your priorities and income in mind. So many associate large homes with accomplishment. Homes in other countries aren't on the same scale as the U..S.. Be realistic, live below your means, work on your plan and keep your priorities straight.
In America you will NEVER own a home because even if you’ve paid off the mortgage you still have to pay property taxes and for what? The house is paid off. We are the only nation where you own nothing especially a home when it’s paid off. Make it make sense!
In Australia we pay council rates which I'm guessing is similar to the US land tax. It is based on the unimproved value of the land. For example the land my house is on is worth about $800k, my annual land rates are about $2,200. Water, sewerage and waste disposal are on top of that. My total annual costs are around $3,800.
We pay property taxes in Singapore, Malaysia, Australia....most other countries. That doesnt mean you dont " own" the home. The house sits on land that are serviced by amenities provided by govt etc including roads, so it isnt unjustified to charge us taxes.
How we choose to invest our money can either make us, or break us. Some of the choices I see people make are good, or good and bad, or just bad. Regarding myself I lived in houses most, or all of my life, and I saw how other people live, and it has given me something to think about. There are different ways to live, so people do not need a house, or an apartment. What I said are 2 different types of shelters people have chosen to reside in. People assume that buying their food from grocery stores is mandatory to survive, but it is NOT just like buying a house, or living inside of an apartment. Some food, for thought is why buy a prebuilt house instead of building a home. Buying, and building a home has different results! From what I saw a home can be built maybe almost, for the cost of next to nothing, and this is based on choice, and lifestyle, but yet people prefer SPENDING money they do not have to try to buy a home!!! I am able to think of alternatives to be able to eat, and have a home, and there is no need, for despair. Because this negative emotion eventually develops depression, and despair is not a good emotion to be feeling.
I couldn't afford my first home until I was 40. Back in the day, people buying homes in their 20s was unusual unless the parents helped with the down payment, and mortgage interest rates were double digits.
I'm 63 and planned for my old age. I have a pension, a 401K, a Roth IRA, and I'm waiting to collect my Social Security until I'm 70 to get the maximum amount. I knew from a very young age that Social Security is not a retirement plan.
You make really good points, and I hope for everyone struggling that they take to heart what you have said about really thinking about what you want and that every generation has different obstacles in front of them. Before WW II, multi-generational living was more common in the U.S. We may need to accept that may become necessary again. Consumerism has sold us many lies, and we each need to examine what is most important to each of us not what society is trying to force us into.
Never tell young people they will never own a home. When I was in my 20's, I never believed I'd be able to buy a home. I was in the military and not making a lot of money. When I was 30, I left the military and was within a year, hired with a County Sheriff's Department. Before turning 32, my wife and I bought our first home. As our careers progressed and we were able to make more and save money, in 2007, we bought a second home. Life has a way of changing. Opportunities pop up all the time. Like in 2007, the economy shifts offering some an opportunity to buy. Life is never a static situation!
Some of us have nature values and want to do things ourselves. ❤ I do not want a huge mortgage or any debt. I want the freedom and independence a homestead provides. ❤
I rather have time and be stress free with less money and live in a van or tiny home …. This world is nuts for sure . Being adaptable is important …. Stay positive and figure out a way to live the life you love . So many ways to make and spend a buck . Choose wisely.
I teach part time at a college,if your kids can get into maintenance through a tech school it's probably going to be free. Then get in with a big company that pays for college and continue your education on their dime. Fixing machines is a 100k to 180k job in S.C.
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advice but get buying, cash isn’t king at all in this time!
Just try as hard as you can to live within your means. Start small . If renting is better or buying just live within your budget. I got in debt trying to live like my richer friends and got in trouble. Now I own everything. Home,car, trucks ECT. And yes I do have to pay the taxes, but it's a lot cheaper than any monthly payment.
Don't listen to the noise out there. You have been called by God to lead your family the right way. Keep it up and don't listen to those who rely on the system that keep them down and they are jealous of the freedom you have. Keep it up. Keep being happy and don't let anyone steal your Joy! Love your channel.
I've always owned a house and could not fanthom not having one while still working. Its a security blanket for me and I bought three in a span of 20 yrs. Unfortunately the new generation has it tough, abd its why Ive stressed to my two girls to go to college and finish their medical studies bcuz it will be tough fir them when the get out and live on their own.
78k got me into a nice Cottage in a nice Country town, I have saved 10% for decades in a high interest savings account that is never touched and compounds as well as putting 5% in an emergency fund, I was able to buy the Cottage with cash and have a very nice car and healthy savings, Having just retired in Australia where we have a $2.200 monthy social security pension for life I cant complain , Think outside the box and consider a nice Rural town
The system is not structured for everyone to own a home OR go to college and that’s okay. Society dictates what is successful and people need to re-think things because society is screwed up and has been selling false dreams for YEARS. Nothing is wrong living in a tiny home or being an electrician. These are smart choices. You’ll always have a home and job. People do what makes YOU happy, not your family, friends, neighbors, co-workers, etc because I guarantee they are knee deep in debt no matter the job, where they live, drive, etc. It’s all smoking mirrors.
Planning to get a minivan to convert it into a living space and live on the road after retirement. no way I will continue to work after the age of 65 and keep giving most of my money to a landlord.
Great topic! It is so important for people to realize that home ownership is NOT always better than renting. You must do the numbers. For example…that $250k home will cost approximately $350k or more at the end of the 30-year mortgage. And that’s just including the interest. There’s homeowners insurance, annual property taxes, ALL the maintenance…roofs can be upwards of 15k, new AC can be $5k - 8k+, hot water heater is another $1k plus, Plumbing (water line breaks) can be another $500 - $1k. Window replacement another $4k - 6k+. Termite issues??? $10k plus depending on the damage. Appliances malfunction…stoves, refrigerators, dishwashers can get expensive. Then you have the yearly pest control and HVAC maintenance. Let’s also include lawn service ($250 per month during the summer in my case)…HOA dues/fees??? I can go on and on. Sometimes, you may have to pay a mortgage while also paying mortgage or rent in another location if you must move before the original home has been sold. Renting…this is a very rudimentary calculation, but let’s take the hypothetical mortgage plus interest, and property taxes for the 30 years $250k mortgage + $100k interest + $40k property taxes + $50k homeowners insurance = $440k roughly. Let’s include another $50k of maintenance and home repairs, appliance replacement and we’re at approx $500k. $500k/30yrs/12mths = approximately $1,388 per month for rent average for 30 years. Where I’m from…that’s pretty high for rent, but that’s basically what you’d average monthly for housing if you choose to get a mortgage rather than renting. But how many people live in an area where the hypothetical numbers I used can be considered accurate or reasonable? Also , renting gives you more freedom and flexibility without having to stress about returning home from vacation and a pipe has burst and you have water damage everywhere…that’s expensive! Again…this was just a little fun hypothetical exercise, but everyone can use “real “ numbers to determine if the flexibility of renting is better than the more “permanence” of buying a home…with little flexibility and a lot more responsibility. I’ve done both and I’m currently 11 years into my mortgage; however, I wouldn’t buy again if I were to sell my current home. I hope this helps😊🌺
These examples are spot on! We own 2 properties, but taxes, insurance, maintenance, oh did I say maintenance, never ends. We have no mortgage, and we are retired. It can be overwhelming for sure. Young people need to just think it thru.
Totally agree! It's always something when you own a house and if you live on a fixed income like I do there is never enough to keep up with everything as it needs upgrading or replacement. The windows and the siding and so on and so on. I had to have a new HVAC about seven years ago and it was $13k. It can be/is downright depressing.
Don't listen to the negative people out there. Have your goal (be reasonable) stick to that. You will get there. As a single, female I have achieved my goals. It was not easy but it was satisfying to reach my goals little by little to the end result. I choose to be off grid to be free from others control. I live debt free. If I can do this anyone can. 🤗💖🙏🇺🇸☺️
We’ve slowed down enough and now are focusing on God’s word and taking one day at a time. Homelessness and roughing it is not fun for all, and that’s okay.
If you own a lot of acreage where you can put something on it, give your adult kid an acre if they wouldn't mind living nearby. It gives them something to start out on. I understand some might want to move away on their own, but wouldn't it be nice to have that option to choose?
BUY. DIRT. THERE. NOT MAKING MORE DIRT. PREFERABLY ONE ACRE YOU CAN PUT TRAILER OR BUILD ON LIVE BELOW YOUR MEANS IS SAFER FRUGAL FUN. DEBT IS DEADLY GO TO HIGH SCHOOL WHERE KIDS REBUILD CARS FOR LEARNING CHEAPER TO BUY AND OLDER TOYOTA PICKUPS LESS COST BUT 4 WHEELS GROW OWN FOOD RENT ROOMS OR SHARE WITH FAMILY SPLIT EXPENSES. SEEMS ASIANS IE VIETNAMESE VERY GOOD AT THAT MAKES GIGANTIC GOOD SENSE. JUST IDEAS TO CONSIDER
We are far too obsessed about home ownership and what that should look like, and treat it like it's the top of the pile as far as wants is concerned. But it isn't. Home ownership comes with a lot of stresses and concerns and isn't necessarily financially safer than renting because until you have paid off that mortgage, if something should happen and you miss a few payments, they will take that house away from you. I have never owned a home, I will never own a home. I just don't have the finances to do it and I don't worry about it, because there is nothing I can do to change that. But it doesn't matter. Not owning a home has given me the freedom to move, to live in different places and different scenarios. When I look back on my life, not owning a home has been a sort of blessing.
A few payments? Taxes yoy only have to pay once a year and taxes are only a.couple hundred dollars a year in a lot of areas. Even if you live in am expensive area.amd.yoyr taxes.arr.3,000 a user that's less than 300 month. It would be very rare for anybody.living in a home.they own not to come up with a.few hundred a year and if somebody didnt have enough for a yearly tax payment they have a whole year to come up with it compared to.3p days to come up with rent. In any case how you can try to compare a fee hundred a year in taxes to 1500 a month in rent makes no sense. Even paying a couple hundred a month to someone for upkeep of the outside is way cheaper than renting and you can just get.a really small.place and not have to worry about maintenance or mowing grass. Renting cost much ffinancially. So owning will always be much more affordable and there are plenty of places with several acres for 60 or 70 thousand in rural areas with no crime. Even in states that are.supposed to be expensive like NY I see dozens of homes on 5 or 6 acres for between 50 to 80 k with taxes around a 1000 a year and that's it. It's only when people want.to buy large homes in the suburbs is it unaffordable. There are also plenty of jobs to work from home or that you can find in rural.areas. sure it would be tough to find jobs for a 100k a year but if all.yoyr bills and utilities are less than a 1000 a month you can take care of a family quite well.on a single income of 36 thousand a year. Even 24 k a year when your bills are less than a 1000 month 24k a year is better than a 80k job a year with 5 grand a month in bills in the suburbs paying off a 30 year morgage when you will be paying off a 60 thousand home in 10 years
Home ownership is less stressful with no mortgage. No $1,500.00+ going out the door for that monthly expense. That’s money you don’t have to struggle to get when taxes or insurance are due. Budget those expenses to monthly savings also include house repairs or like a washer or dryer. Not having a car note is a big plus. My wife wants a camper but not to be a mean husband, I told her that’s a monthly expense we don’t need. If we cannot pay cash, you can’t afford it.
It’s possible to buy a home on minimum wage in some areas, even a duplex/triplex. Is she willing to move? Is she willing to do home improvements, deal with renters? At 16-18 she can work and save money for a used car and then a tiny home. She can buy home parts at yard sales, flea markets, side of the road, Facebook marketplace, Craigslist, etc. Everything from toilets, cabinets, electrical outlets and wire to sinks and appliances. She could even use pallets she disassembled as the wood to build it. It would be better to build with her not for her, a 12x16 tiny home. The point is it would give her construction experience, scavenging experience and a sense of control and self confidence. She can then pay you land rent or not. She can live extremely inexpensively and save and travel. For work, she can try her hand at computer work and small side hustles until until the computer work which can be done anywhere is enough.
The problem having a slumlord is they tell you what to do and create uncertainty because they can decide to sell or default on taxes or anything. It's counter party risk. You just look at them in the wrong way and they can make your life a living hell. Don't trust em.
The biggest problem is live in a country which the policies are purposefully making people homeless. the are options around the world without needing going through this turchur.
I agree with much of what you are saying, but would only disagree about it only being recently where people expected to be able to buy a home. When I married in 1971, and my friends were also, we all bought starter homes, knowing it was only for a season. I don't remember anyone renting, because that was just throwing away money. In fact, there weren't many rental apartments or houses. I did know a couple of single women who rented together, but few, most lived at home with parents. These last few (four) years we have watched property go up unbelievably, not sure how anyone young could do it now. Maybe in bigger cities this was different then where I live. I commend you for what you have done.
Every generation has had their own challenges. You are closer to my parents' generation than mine. They married in the 60s and bought a house 2 years after renting. Houses were cheaper then but wages were lower and in the 70s interest rates were higher. The energy crisis lead to economic downturn. My parents often talk about this. I think my generation has had it easier.
Hey! you and your family can live really well abroad on countries in europe or south america with the income you make from youtube and potentially even more by attacting a new audience.
Get a trade, never stop learning, don't buy nothing, used car, very few clothes, don't eat out, work multiple jobs. Go to the park, go to Publc free events, etc... learn to fix everything yourself. I saved in chunks 50k paid off 2 vehicles, then saved 50k again paid off land. The land I got on a deal from family(I was lucky there, but we just pass it down and get nothing for free.) in March I started saving again so far I've saved 43k back up and it's in a high yield savings account paying 5.25%. I will say you can buy a new single wide for 86k in 2024.
Multigenerational living is nothing new. Although our Boomer parents own homes now, they had to live with parents off and on while getting started. Everyone helped at Grandma's farm to grow, harvest and preserve. I was a teenager before I had store bought cereal and renovations were not done until the mortgage was paid and the youngest moved out. Everyone has made legal preparations for those properties to remain for family use. A form of generational wealth I suppose although my children plan on moving your way and building their own family compound.
I am sorry, but I disagree. You do need to own your own house and land in order to have a happy successful family. If you are a single person, an apartment will work for a time. But if you are a family, you need your own place and your own space.
And the people who do want to learn will listen. There's room for both types, those who don't value other people's knowledge and those who appreciate listening to other's experiences
The commenter makes it sound that living like you is a bad thing. Maybe our young people should look into what people did during the 1930 's We have so many better tools to use creatively to make our lives better. If one is from a generation that did not get taught life skills learn them now.
im trying to keep my home as they try to force us out by raising the cost.. I will not pay utilities and have all my money go to my rent just to keep my home. there trying to screw us over.. I won't let it happen after my husbands suicide which leaves me as a single mother who can't get a job cause no one is hiring,..
Do you make your income only on UA-cam? The house prices are so high my Sons 20 and 17 years can not buy a house if they have not a high income. I find it hard for them to life in this situation. Both are living at home. My 17 year old Son is looking at the world at a different way, and I think that is just the right way. He is now working temporly working in Oostenrijk 🇦🇹 and is not going to Universitair because he find that it cost to much money, so know hè is thinking of other ways and life happy.
We need to go back to the basics as much as we can. Enjoy the little things. The world is pretty cool if we just slow down and pay attention.
Great comment, Blessings to you
Having a spirit of gratitude is the number one thing you need to make life great.
So, embracing self-delusion & living in a bubble-reality.
Amen
As long as we have property taxes no one will ever truly own a house. There's absolutely no valid reason to continue paying taxes on something you "own" outright. Add to that the expenses of upkeep, insurance, etc and I choose to rent.
You are not paying ON a house you own. Property taxes fund schools in your district. They also fund emergency services., maintain roads etc. If you don't pay you can't stay
@@pamsmith1665you do realize you mist the point right 🤦🏼what do you do when you get the taxes on your house raised to the point you can’t afford it it’s out of your control completely the government has pushed people out of homes in the past because of this for development so the idea that you own your home is a delusional view 🤦🏼
@pamsmith1665 those should be paid by sales tax or income tax.
You will own nothing, and be happy.
Nailed it!😎
@@adamloveshondas3122 people need to start paying as much attention to their local government as they do the money they budget to live on or maybe more. Do you know what your BOE is paying for? People spend 4hrs every evening watching TV, why not spend 1hr of the 30+ hrs a week reading the budget and keep taxes down. One hour a week is probably to more than needed.
Mine pays for every principal and spouse to go to a high end resort for a week (arrive Sunday, check out Saturday) for a beginning of the school year conference. They work 1/2 day and golf, etc the rest of the day. 🤦♀️. Thats 20 principals and guest - 3 meals a day, 20 hotel rooms , conference room rentals, amenities and travel. They should stay in county and save the tax payer!
Owning a home brings financial responsibilities . But it brings a level of stability and security that renting doesnt. Renting just makes you vulnerable to the market. My mum always said even if it is a shack, own it. Just buy something you can afford is what I would say. Even if it means relocating or buying something that isnt your dream house. You can always upgrade later. If you are young, as in below 30, you can always wait till you are ready or the market is more favourable to buyers. Meanwhile think of how you can save. Stay with family, rent with room mates, side hustle etc.
I think there's way more people out there living off of borrowed money. They live in homes that are way too big and expensive. They don't actually have a home, they just think they do. Many will never pay these off in their lifetime. Debt hanging over people's heads causes so much anxiety and depression so many are opting to live in cars rather than be in debt. Watching Van lifers last night helped put things in perspective. These ppl are living with limited possessions because there's no room and they're getting by. I don't think I could deal with such a small space (in a van) but I could certainly live in a much smaller home than I was dreaming about originally. I think managing our expectations can really increase our levels of happiness. We gotta build homes for us..not for entertaining or to keep up with the Jones". People have dining rooms they never use, bathrooms they never use, I rarely go into one side of my kitchen! Anyway, those are my random thoughts. There's ust so many things we think we "need" and don't.
My daughter and her husband are 19 and 20. They paid for their car in cash. They just purchased a 12x40 shed and are cash flowing the inside to live in it. It's on my land until they can save and buy land of their own and have their shed moved to their land. Then they'll build a house and rent out their shed. Might be an option for your teens to do something similar.
Age old way to help young people get ahead.
Living on your land in a shed is not adulting.
@@pamsmith1665 it is a common practice in rural communities to allow children and married children to live on the parents land using a trailer, in-law apartment or ADU to save up to buy land, build a home and then be totally independent. Sometimes there is rent or work around the house/farm in lieu of rent.
It is not a culture most suburban and city households understand. Rural communities are interdependent because they live far from services, they help each other. If a farmer breaks a leg and can use his tractor, it’s common for a neighbor farmer to bring in the crops to help. It’s understood that you help each other. Many city people don’t even know who lives next door or on their block, much less everyone in their community. That’s not a criticism, just a fact.
@@pamsmith1665 I am 50 and not as young as I used to be. We live on 20 acres and they help out a lot around the farm. We have horses, cows, chickens, cats and dogs. I actually hope they never leave.
That's an excellent way to teach your children how to budget!❤
I was below poverty level in nyc due to really hard work i achieved a home. But my children are finding that the struggle is impossible.
I pray that things get better for
Everyone.
I would not be able to sleep at night if I didnt own my house. We paid it off completely in less than 10 years.
My advice is dont buy the highest priced house you can afford. Allow yourself some margin and pay it off as soon as you can even if it means having to rent out a basement or make some short term sacrifices. If it is " less" than what you wanted, you can always upgrade later. That is what we did.
I sleep fine at night and I haven’t paid off my mortgage yet. I think of it as rent.
I BOUGHT ALL MY FURNITURE FROM THRIFTS AND SUCH GSRAGE SALES SAVES TONS
First, thanks for sharing your story. Second, I really appreciate your empathy. I grew up in a 100 year old house and have flipped a few, so renovation became a lifestyle for a time. If I could give any advice, it would be to live small for now, increase your frugal skills, and stay as flexible as possible. All the best to those in struggle
Good video and good vibes and chill some good perspective I don’t want a house I live in my 2008 Honda CR-V I might by a plot of land eventually but I’m not putting a house on it maybe a shed I like the tiny aspect and low impact more of a primitive style it’s crazy how high house prices are and there just not worth it simple is cheap 🤣💯🤓
Learning skills is so important. A house can be anything - a converted van, shed, tiny home, yurt, etc etc and if you learn some skills you can do the work yourself and make a livable space for not too much money. Possibly just for 12 monthly rental payments you could make something really nice - the scariest part is take the leap and go against the norms and believe in yourself - good luck with your homestead.
We are leaving our house for our girls. Two families can live here comfortably with a full kitchen downstairs. If they dont want to live here, they can have a rental income.
What a wonderful gift! Your children are very fortunate.
@@jacki6301 we are leaving our homes to our kids as well.
We are doing the same, so is my neighbor, it isn’t just this economy it’s been this way since my girls graduation several administrations ago
Yup because 98% aint ever had that or ever will
@greenbyrd3665
I love that you can do all that unscripted, no Teleprompter, no notes. You’re exceptional.
I think one mistake a lot of folks make is getting too much debt outside of normal bills and house payment/rent. That "hole" is very hard to dig out of even though it can be done, it's hard and takes sa lot of sacrifice that many folks don't want to do or don't know how to do.
Very wise advice, I often think that folks think that it should happen quicker than it does when having goals. As you mentioned it took 14 years for you to get to a place where you can see your dreams starting to come true with purchasing the land and now it is a case of moving to the next step with gardening and growing food, shelter for the animals since winter will be here before you know it. And spring might be the next time you are able to move forward again with building getting water and electricity. But the time spent moving forward is the time to be grateful you are moving forward. As they say Rome wasn't build in a day. Best of luck to you and your children. I am sure they have been given tons of great advice but working hard for what you want is part of it.
I also think the renovations of university housing in the late '90s and early 2000s gave college students an unrealistic sense of what amenities come for "free". Neither I nor my younger relatives could afford apartments with separate bedrooms, community workout centers, pools, or nearby bus stops. Those of us who didn't live with family members rented rooms in converted early-1900s houses and pre-WW2 apartments built for bachelor autoworkers.
We are renting as of now and I feel so happy regardless if we buy or rent.
Trying to tackle debt before buying !
Very good advice here. I agree that home ownership is not for everyone. There are pros & cons to owning vs renting your home. But what is most important, is that people have a home they can go to that fulfills their needs & their family's needs. Everything else is a want, not a need. Keeping things in a positive perspective is so important, even when times are tough.
There's a lot of advantages to multigenerational housing. It doesn't have to be in the same house. I've seen several properties of where there are mutiple size houses on the same land. Happened a lot with farmers. My dad got a 1/2 acre from my grandfather that he built a house when he got married. The issue becomes when there's no jobs in the area so people move. I'm hoping the gig economy or working from home can help resolve that. New subscribers might understand where you came from if you put together some video clips from your library showing where you started to how you got where you are today. Just an idea.
Ooh, that is a great idea!
@@raisingwildflowers 1st time viewer here
@@raisingwildflowerssame
I really feel the struggle with young adult kiddos trying to move out and make it on their own. I have a 22 yr old and a studio in our town runs $700+ per month! She has a decent job and works so hard it hurts to see young people, even people my age, not able to find affordable housing. We are trying to think outside the box to help, but this late stage capitalism game is making life so hard for the backbone workers of this country. 🌵💜
In Asia, many young people live with parents till they have saved enough to buy their own place. My son who is 25 still lives with us.
@@lindc1070 I think that's awesome and I would love my daughter to stay with me forever but our house is too small. We're looking at tiny houses as an option to put in our backyard.
@@busybaldaufs896 ok I understand.Our house is big. But generally this is the lifestyle in Asia, kids will stay with parents and sometimes contribute to the household expenses till they get married or are in their 30s and if still single then buy their own place.
@@busybaldaufs896we are looking at the same. Even tiny houses are getting out of control cost wise. I’m balancing trying not to take on any more debt and give my child solid footing. It’s tough.
do as we immigrant Italianos did...get together with friends and family to self-build each's own home!! An ECOhome. TIP: do NOT...go it alone, ever!!! and CO-housing has no Shame, kids! Learn to build what one needs (including food gardening) instead of focusing on "trendy" cr_p, that wastes your $$$/energies. Old N. Italiano-here. Work TOGETHER!!!
Many people do not have a community to help or even a family. I am one of those. I have a few friends and family members but no one to assist with building or money. But I do the best I can.
I find it interesting how immigrants (my husband is an immigrant) can figure it out, while the average American complains about how tough it is. Life was never about things being easy. We cannot expect to have things handed to us. If you want success you have to work hard for it because life has always been a struggle!
@@mycinnamongirlI notice this, too. In Canada, immigrants have no issue with parents, kids, grandparents, maybe 2 families plus grandparents all under 1 roof. Canadians, especially "white" Canadians seem to have a belief that they need way more "personal space" per person.♥️🇨🇦
@@jillgott6567same and also a little older. Just on edge of being alone!
@@jillgott6567 Create your own network then!!
Hi, I enjoy the topics and your insight on these topics. I feel a lot of hope from your videos. I'm in my late 50's and never own a home. I have lived in a rental country home for 10 years. After I was divorced, my son and I had to leave. You asked a question, "what do you want out of your home?" That was a good point for me; it steers the direction I would like to go for home ownership. Honestly, at this point, I would like some land, a camper, and a truck. Right now I have an apartment, van. and a nice tent. I am taking steps to find property. When I do, I may just have a yurt on it, but like you said, it is a step by step process. Thank you so much for all your video content. It has really helped my life!
I am surprised how much you have been thinking! How much struggle goes into life inspite of having so much! Yes, times are very difficult and unpredictable
Nobody knows what tomorrow brings! The struggles we encounter make our achievements the more enjoyable and appreciated! Personally, I always like to look at everything I have instead of what I don't have!
I hear you saying this is how YOU do it, not that it’s the only possible way. It’s very inspiring to me.
I personally believe where there is a will there is a way
It is definitely hard for so many, but I do encourage anyone if you work remote or can take a pay cut then move to a smaller town where there is more affordable living. There are towns out there that have houses for sale that are well below one hundred grand, they just need some work.
Yep ! I was able to buy one with 100% cash. 😊
I’ve owned 16 or 20 properties in my lifetime. I retired at 52 and moved all around the country. It was an adventure buying houses and living in different parts of the country. Now that I’m mid 70’s we rent. Less stress and little to no upkeep.
At the price of houses now we would have to move to a more affordable area to own and I don’t have that much gas left in the tank.
If I were younger I would find an affordable area. Buy a few acres and build my own house. Start small and design it so it could be added onto if needed. I would build some tiny homes on the property and rent them out. It might take 10,15 or 20 years but that would be my plan based on the economy we are in now.
I love your plan and lifestyle! We definitely think alike 😊
Pretty good plan.. Have you considered your legacy?
The one positive of owning your own house even with increased taxes and insurance is stability, nobody can say you have to move out as long as taxes, insurance paid. I think smaller homes are key now rather than huge homes that have been built in past decade. Simpler, smaller home and minimize your belongings. Thanks for sharing as young people need to hear this! Set goals and work toward them!!
You are so right. Keep it simple.
You have land. That is massive!!! You are doing right by your family. I am so happy for ya'll
When you tell someone don't live beyond your means. They take it as they are less than. When the reality is your trying to help them understand that materialistic things will inturn be thier downfall...
That is the motto my husband & I live by. Always live below your means. Our income has fluctuated over the years but we never waivered from that. While others live beyond their means, we chose to do the opposite. Living a more frugal lifestyle gives us peace of mind.
@@jenniferlisow2901 God Bless...
Once again you continue to inspire and offer hope in a time when hope is often hard to find. You sharing your life journey has really helped me reevaluate mine. Thank you for the great content 😊
I think you are 100% correct about a home not being the be all end all- the fact that you own your self sufficient land is where you are miles ahead in the game but since yall own yer land could ya borrow against it to fund the home build?? Set an amount thatd put yer monthly expenses for tbat within the budget? Seems the instacart might cover 6-800. A month?
The house is the bomb diggy. I’d never sell it. Single family house all to myself fenced yard. Loving it.
Yes there is hope of having a house.
#1. Go into Trades.
#2. Buy everything Used, especially cars.
#3. Learn how to block out “wants”.
#4. Learn how to spend LESS than you make.
5. Teach yourself to be Thankful. That will change your ATTITUDE.
6. Your ATTITUDE is what will propel you to your next pay raise or Opportunity.
--
WORK. Get those OT hours.
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By the way, if you didn’t know it by now, we live in a Country of Whiners.
Turn a Deaf Ear to that. That solves NOTHING!
Yes! All we hear any more is whining and wanting everything handed out for free. My family just spent $80,000 (most of which we paid cash) to build our home on 2.25 acres , 4 years ago. It is possible, but it takes WORK. We worked OT and two jobs, did most of the work ourselves. Owe almost nothing now, just 4 years later.
Thank you for another video that gets to the heart of my fears and helps to deal with that fear in a small way. ❤❤❤
I’ve watched you for awhile and I would like to know if there is still affordable land out there and where? How do you know what to look for when buying land and did you go to the county to see if you could live on your land without a house on it?
I just did an online "mortgage calculator" and based on my income of 85k a year and only one debt of 600 a month, I can only afford to get a mortgage for 200k. So that means even with being almost completely debt free and having a higher than average income, I cannot afford an 'Average" priced home today... which is about 400k. SICK!!! I currently own my home outright, but I did it because I am thinking about moving and eventually selling this house, meanwhile get a temporary mortgage for something in another less expensive area. No such thing people! Unless you want to live in a trailer or a house that has been foreclosed (and usually heavily trashed).
The advice is good, but as a disabled 71 year old, I don’t have 10 or 15 years to wait for my future to change. Any recommendations for me?
You have worked hard and that is comendable. Others have as well. I think we are all on our own journey and doing so at our own pace. My goal at 65 is a sm home, gardens, fruit bushes, fenced in yard with a dog pen, my 3 cats and to be able to finally have 2 dogs . Will I get it ? Maybe. I keep drawing plans, saving when I can, my next goal is to get rid of medical debt and to get my Emergency Fund together
You are right where I am.... paying off debt first, still planning....
Staying out of debt is hard work. We are saving up for better cars (again) lol trying to avoid car payments 😩
Cars have become so expensive! The cars themselves, plus the upkeep. I don’t think we talk about that enough tbh.
I think it's important to keep your priorities and income in mind. So many associate large homes with accomplishment. Homes in other countries aren't on the same scale as the U..S.. Be realistic, live below your means, work on your plan and keep your priorities straight.
Great video. You’re such a hardworking and caring human being and we need more people like you!🤗
yep!!
I am glad I came across this video, love the message you shared, because it so true, to be adaptable is so important ❤️
In America you will NEVER own a home because even if you’ve paid off the mortgage you still have to pay property taxes and for what? The house is paid off. We are the only nation where you own nothing especially a home when it’s paid off. Make it make sense!
Lots of countries still pay taxes just like us. France is one of them...
Brazil@@loydacoulombe1397
In Australia we pay council rates which I'm guessing is similar to the US land tax. It is based on the unimproved value of the land. For example the land my house is on is worth about $800k, my annual land rates are about $2,200. Water, sewerage and waste disposal are on top of that. My total annual costs are around $3,800.
I absolutely agree! And let’s not forget insurance. Rates are increasing relentlessly!
We pay property taxes in Singapore, Malaysia, Australia....most other countries. That doesnt mean you dont " own" the home. The house sits on land that are serviced by amenities provided by govt etc including roads, so it isnt unjustified to charge us taxes.
How we choose to invest our money can either make us, or break us. Some of the choices I see people make are good, or good and bad, or just bad.
Regarding myself I lived in houses most, or all of my life, and I saw how other people live, and it has given me something to think about. There are different ways to live, so people do not need a house, or an apartment. What I said are 2 different types of shelters people have chosen to reside in.
People assume that buying their food from grocery stores is mandatory to survive, but it is NOT just like buying a house, or living inside of an apartment. Some food, for thought is why buy a prebuilt house instead of building a home. Buying, and building a home has different results!
From what I saw a home can be built maybe almost, for the cost of next to nothing, and this is based on choice, and lifestyle, but yet people prefer SPENDING money they do not have to try to buy a home!!!
I am able to think of alternatives to be able to eat, and have a home, and there is no need, for despair. Because this negative emotion eventually develops depression, and despair is not a good emotion to be feeling.
Good on you for addressing the comment.
I couldn't afford my first home until I was 40. Back in the day, people buying homes in their 20s was unusual unless the parents helped with the down payment, and mortgage interest rates were double digits.
To me, in my 60s, the only worry I would have is becoming disabled and not having a way to settle down.
I'm 63 and planned for my old age. I have a pension, a 401K, a Roth IRA, and I'm waiting to collect my Social Security until I'm 70 to get the maximum amount. I knew from a very young age that Social Security is not a retirement plan.
@@mycinnamongirl My husband is 67 and still works. He is waiting until 70 to collect his Social Security so he can get the max.
You make really good points, and I hope for everyone struggling that they take to heart what you have said about really thinking about what you want and that every generation has different obstacles in front of them. Before WW II, multi-generational living was more common in the U.S. We may need to accept that may become necessary again. Consumerism has sold us many lies, and we each need to examine what is most important to each of us not what society is trying to force us into.
I was able to buy a small Cottage in a very nice Australian Country Town of about 12.000 people, Never give up hope and think outside of the box
Never tell young people they will never own a home. When I was in my 20's, I never believed I'd be able to buy a home. I was in the military and not making a lot of money. When I was 30, I left the military and was within a year, hired with a County Sheriff's Department. Before turning 32, my wife and I bought our first home. As our careers progressed and we were able to make more and save money, in 2007, we bought a second home. Life has a way of changing. Opportunities pop up all the time. Like in 2007, the economy shifts offering some an opportunity to buy. Life is never a static situation!
I live in a government rental home i feel so blessed you cannot even get these homes now
Thanks, Katie. Well said.
Some of us have nature values and want to do things ourselves. ❤ I do not want a huge mortgage or any debt. I want the freedom and independence a homestead provides. ❤
I rather have time and be stress free with less money and live in a van or tiny home …. This world is nuts for sure . Being adaptable is important …. Stay positive and figure out a way to live the life you love . So many ways to make and spend a buck . Choose wisely.
I teach part time at a college,if your kids can get into maintenance through a tech school it's probably going to be free. Then get in with a big company that pays for college and continue your education on their dime. Fixing machines is a 100k to 180k job in S.C.
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advice but get buying, cash isn’t king at all in this time!
Hi Katie, Asher, and Falcon! ❤😊
Hi!! 😊
I would be very interested in what you are guiding your young adults to do to address this housing issue.
Just try as hard as you can to live within your means. Start small . If renting is better or buying just live within your budget. I got in debt trying to live like my richer friends and got in trouble. Now I own everything. Home,car, trucks ECT. And yes I do have to pay the taxes, but it's a lot cheaper than any monthly payment.
"A house is not a home"
-Bobby Vinton.
"you can't eat a house"
-Weird Al (probably)
😂😂😂
Don't listen to the noise out there. You have been called by God to lead your family the right way. Keep it up and don't listen to those who rely on the system that keep them down and they are jealous of the freedom you have. Keep it up. Keep being happy and don't let anyone steal your Joy! Love your channel.
I've always owned a house and could not fanthom not having one while still working. Its a security blanket for me and I bought three in a span of 20 yrs. Unfortunately the new generation has it tough, abd its why Ive stressed to my two girls to go to college and finish their medical studies bcuz it will be tough fir them when the get out and live on their own.
78k got me into a nice Cottage in a nice Country town, I have saved 10% for decades in a high interest savings account that is never touched and compounds as well as putting 5% in an emergency fund, I was able to buy the Cottage with cash and have a very nice car and healthy savings, Having just retired in Australia where we have a $2.200 monthy social security pension for life I cant complain , Think outside the box and consider a nice Rural town
The system is not structured for everyone to own a home OR go to college and that’s okay. Society dictates what is successful and people need to re-think things because society is screwed up and has been selling false dreams for YEARS. Nothing is wrong living in a tiny home or being an electrician. These are smart choices. You’ll always have a home and job. People do what makes YOU happy, not your family, friends, neighbors, co-workers, etc because I guarantee they are knee deep in debt no matter the job, where they live, drive, etc. It’s all smoking mirrors.
Well said!
Not everyone is deep in debt. Some who live well are financially very stable. They might make 150k a year and live on 100k.
Europeans are moving to Bulgaria, Latvia and Romania (just as examples) to afford land….if they have an online job. They want security.
Planning to get a minivan to convert it into a living space and live on the road after retirement. no way I will continue to work after the age of 65 and keep giving most of my money to a landlord.
Great topic! It is so important for people to realize that home ownership is NOT always better than renting. You must do the numbers.
For example…that $250k home will cost approximately $350k or more at the end of the 30-year mortgage. And that’s just including the interest.
There’s homeowners insurance, annual property taxes, ALL the maintenance…roofs can be upwards of 15k, new AC can be $5k - 8k+, hot water heater is another $1k plus, Plumbing (water line breaks) can be another $500 - $1k. Window replacement another $4k - 6k+. Termite issues??? $10k plus depending on the damage. Appliances malfunction…stoves, refrigerators, dishwashers can get expensive. Then you have the yearly pest control and HVAC maintenance. Let’s also include lawn service ($250 per month during the summer in my case)…HOA dues/fees??? I can go on and on. Sometimes, you may have to pay a mortgage while also paying mortgage or rent in another location if you must move before the original home has been sold.
Renting…this is a very rudimentary calculation, but let’s take the hypothetical mortgage plus interest, and property taxes for the 30 years $250k mortgage + $100k interest + $40k property taxes + $50k homeowners insurance = $440k roughly. Let’s include another $50k of maintenance and home repairs, appliance replacement and we’re at approx $500k.
$500k/30yrs/12mths = approximately $1,388 per month for rent average for 30 years.
Where I’m from…that’s pretty high for rent, but that’s basically what you’d average monthly for housing if you choose to get a mortgage rather than renting.
But how many people live in an area where the hypothetical numbers I used can be considered accurate or reasonable? Also , renting gives you more freedom and flexibility without having to stress about returning home from vacation and a pipe has burst and you have water damage everywhere…that’s expensive!
Again…this was just a little fun hypothetical exercise, but everyone can use “real “ numbers to determine if the flexibility of renting is better than the more “permanence” of buying a home…with little flexibility and a lot more responsibility.
I’ve done both and I’m currently 11 years into my mortgage; however, I wouldn’t buy again if I were to sell my current home.
I hope this helps😊🌺
These examples are spot on! We own 2 properties, but taxes, insurance, maintenance, oh did I say maintenance, never ends. We have no mortgage, and we are retired. It can be overwhelming for sure. Young people need to just think it thru.
Yes! There are so many factors at play and it’s just not as obvious as everyone makes it seem. I love your hypothetical examples ❤
Totally agree! It's always something when you own a house and if you live on a fixed income like I do there is never enough to keep up with everything as it needs upgrading or replacement. The windows and the siding and so on and so on. I had to have a new HVAC about seven years ago and it was $13k. It can be/is downright depressing.
@@joculp-yq3qh I agree…there’s always something 😊
@@raisingwildflowers Thank you😊🌺
Don't listen to the negative people out there. Have your goal (be reasonable) stick to that. You will get there. As a single, female I have achieved my goals. It was not easy but it was satisfying to reach my goals little by little to the end result. I choose to be off grid to be free from others control. I live debt free. If I can do this anyone can. 🤗💖🙏🇺🇸☺️
We’ve slowed down enough and now are focusing on God’s word and taking one day at a time. Homelessness and roughing it is not fun for all, and that’s okay.
If you own a lot of acreage where you can put something on it, give your adult kid an acre if they wouldn't mind living nearby. It gives them something to start out on. I understand some might want to move away on their own, but wouldn't it be nice to have that option to choose?
BUY. DIRT. THERE. NOT MAKING MORE DIRT. PREFERABLY ONE ACRE YOU CAN PUT TRAILER OR BUILD ON LIVE BELOW YOUR MEANS IS SAFER FRUGAL FUN. DEBT IS DEADLY GO TO HIGH SCHOOL WHERE KIDS REBUILD CARS FOR LEARNING CHEAPER TO BUY AND OLDER TOYOTA PICKUPS LESS COST BUT 4 WHEELS GROW OWN FOOD RENT ROOMS OR SHARE WITH FAMILY SPLIT EXPENSES. SEEMS ASIANS IE VIETNAMESE VERY GOOD AT THAT MAKES GIGANTIC GOOD SENSE. JUST IDEAS TO CONSIDER
We are far too obsessed about home ownership and what that should look like, and treat it like it's the top of the pile as far as wants is concerned. But it isn't. Home ownership comes with a lot of stresses and concerns and isn't necessarily financially safer than renting because until you have paid off that mortgage, if something should happen and you miss a few payments, they will take that house away from you. I have never owned a home, I will never own a home. I just don't have the finances to do it and I don't worry about it, because there is nothing I can do to change that. But it doesn't matter. Not owning a home has given me the freedom to move, to live in different places and different scenarios. When I look back on my life, not owning a home has been a sort of blessing.
A few payments? Taxes yoy only have to pay once a year and taxes are only a.couple hundred dollars a year in a lot of areas. Even if you live in am expensive area.amd.yoyr taxes.arr.3,000 a user that's less than 300 month. It would be very rare for anybody.living in a home.they own not to come up with a.few hundred a year and if somebody didnt have enough for a yearly tax payment they have a whole year to come up with it compared to.3p days to come up with rent. In any case how you can try to compare a fee hundred a year in taxes to 1500 a month in rent makes no sense. Even paying a couple hundred a month to someone for upkeep of the outside is way cheaper than renting and you can just get.a really small.place and not have to worry about maintenance or mowing grass. Renting cost much ffinancially. So owning will always be much more affordable and there are plenty of places with several acres for 60 or 70 thousand in rural areas with no crime. Even in states that are.supposed to be expensive like NY I see dozens of homes on 5 or 6 acres for between 50 to 80 k with taxes around a 1000 a year and that's it. It's only when people want.to buy large homes in the suburbs is it unaffordable. There are also plenty of jobs to work from home or that you can find in rural.areas. sure it would be tough to find jobs for a 100k a year but if all.yoyr bills and utilities are less than a 1000 a month you can take care of a family quite well.on a single income of 36 thousand a year. Even 24 k a year when your bills are less than a 1000 month 24k a year is better than a 80k job a year with 5 grand a month in bills in the suburbs paying off a 30 year morgage when you will be paying off a 60 thousand home in 10 years
I think your doing great
Home ownership is less stressful with no mortgage. No $1,500.00+ going out the door for that monthly expense. That’s money you don’t have to struggle to get when taxes or insurance are due. Budget those expenses to monthly savings also include house repairs or like a washer or dryer. Not having a car note is a big plus. My wife wants a camper but not to be a mean husband, I told her that’s a monthly expense we don’t need. If we cannot pay cash, you can’t afford it.
It’s possible to buy a home on minimum wage in some areas, even a duplex/triplex. Is she willing to move? Is she willing to do home improvements, deal with renters?
At 16-18 she can work and save money for a used car and then a tiny home. She can buy home parts at yard sales, flea markets, side of the road, Facebook marketplace, Craigslist, etc. Everything from toilets, cabinets, electrical outlets and wire to sinks and appliances. She could even use pallets she disassembled as the wood to build it. It would be better to build with her not for her, a 12x16 tiny home. The point is it would give her construction experience, scavenging experience and a sense of control and self confidence. She can then pay you land rent or not. She can live extremely inexpensively and save and travel. For work, she can try her hand at computer work and small side hustles until until the computer work which can be done anywhere is enough.
You can still find cheap property and start building. Tiny homes and stuff there is still opportunity. But yea prices have gone up.
Imagine moving your family year after year when your lease is up or your apartment got sold.
The problem having a slumlord is they tell you what to do and create uncertainty because they can decide to sell or default on taxes or anything. It's counter party risk. You just look at them in the wrong way and they can make your life a living hell. Don't trust em.
The biggest problem is live in a country which the policies are purposefully making people homeless. the are options around the world without needing going through this turchur.
Even if we cant do what you do, we can watch you for a little bit of escapism each week...
Buying tiny house is the new affordable housing for people who make less than $100k year.
I agree with much of what you are saying, but would only disagree about it only being recently where people expected to be able to buy a home. When I married in 1971, and my friends were also, we all bought starter homes, knowing it was only for a season. I don't remember anyone renting, because that was just throwing away money. In fact, there weren't many rental apartments or houses. I did know a couple of single women who rented together, but few, most lived at home with parents. These last few (four) years we have watched property go up unbelievably, not sure how anyone young could do it now. Maybe in bigger cities this was different then where I live. I commend you for what you have done.
Every generation has had their own challenges. You are closer to my parents' generation than mine. They married in the 60s and bought a house 2 years after renting. Houses were cheaper then but wages were lower and in the 70s interest rates were higher. The energy crisis lead to economic downturn. My parents often talk about this. I think my generation has had it easier.
@@lindc1070 Oh yes, remember well the high interest rates and energy crisis. You are right, each generation has issues. Blessings!
Great video
I believe that. Write your vision and make it plain.
Hey! you and your family can live really well abroad on countries in europe or south america with the income you make from youtube and potentially even more by attacting a new audience.
Belize and Costa Rica are very nice, and it's cheap living there!
Some countries in Europe are extremely expensiveto live in.
I love your content
Get a trade, never stop learning, don't buy nothing, used car, very few clothes, don't eat out, work multiple jobs. Go to the park, go to Publc free events, etc... learn to fix everything yourself. I saved in chunks 50k paid off 2 vehicles, then saved 50k again paid off land. The land I got on a deal from family(I was lucky there, but we just pass it down and get nothing for free.) in March I started saving again so far I've saved 43k back up and it's in a high yield savings account paying 5.25%. I will say you can buy a new single wide for 86k in 2024.
We think a lot alike
Multigenerational living is nothing new. Although our Boomer parents own homes now, they had to live with parents off and on while getting started. Everyone helped at Grandma's farm to grow, harvest and preserve. I was a teenager before I had store bought cereal and renovations were not done until the mortgage was paid and the youngest moved out. Everyone has made legal preparations for those properties to remain for family use. A form of generational wealth I suppose although my children plan on moving your way and building their own family compound.
I am sorry, but I disagree. You do need to own your own house and land in order to have a happy successful family.
If you are a single person, an apartment will work for a time. But if you are a family, you need your own place and your own space.
Don't try to educate those who don't want to learn
And the people who do want to learn will listen. There's room for both types, those who don't value other people's knowledge and those who appreciate listening to other's experiences
The commenter makes it sound that living like you is a bad thing. Maybe our young people should look into what people did during the 1930 's We have so many better tools to use creatively to make our lives better. If one is from a generation that did not get taught life skills learn them now.
im trying to keep my home as they try to force us out by raising the cost.. I will not pay utilities and have all my money go to my rent just to keep my home. there trying to screw us over.. I won't let it happen after my husbands suicide which leaves me as a single mother who can't get a job cause no one is hiring,..
It’s alot of maintenance..
Seek God. He has the answers to all our questions and the remedy.
Kamala said the economy is stronger than ever and inflation is down. - WW
This chick has been living good because of the child earned income tax refunds on 3 kids ! Just as soon as they are all over 18 life won't be so easy.
wonder video place
Do you make your income only on UA-cam?
The house prices are so high my Sons 20 and 17 years can not buy a house if they have not a high income. I find it hard for them to life in this situation. Both are living at home. My 17 year old Son is looking at the world at a different way, and I think that is just the right way. He is now working temporly working in Oostenrijk 🇦🇹 and is not going to Universitair because he find that it cost to much money, so know hè is thinking of other ways and life happy.
COLLEGE ABROAD IS USUALLY MUCH CHEAPER AN WORK PART TIME
And people still have children
Are you bitcoiners?