buying a home - new lune

Buying A Home.

In a recent blog post, I shared I was debating whether or not I wanted to buy a home. It’s not like I’ve saved money and all of a sudden, I’ve changed my mind haha! If you had asked me a year ago what was one of my goals, it would have been buying a home. A year later, things haven’t completely changed but my mindset has shifted on certain things so I found it really interesting.

We live in a time where people put so much importance on materialistic things whether that be the bag you own, the shoes you wear to the makeup products you use. Obviously, I’m saying this from my perspective and things might be completely different from yours but the base is pretty much the same. If you rent, it’s a waste of money. If you pay a mortgage, it’s an investment.

Buying a home is a huge deal to many people and I personally feel that now there is that unspoken pressure that young people should buy their first homes in their twenties or at least by their thirties. I’m not going to lie, I succumbed into that pressure as well and I set one of my life goals to buy my first home in my twenties. I haven’t ruled out the idea of buying my own house one day but I don’t have that desire to own one either whether it’s now or within a specific age.

Dans un récent article de blog, j’ai partagé que je me demandais si je voulais ou non acheter une maison. Ce n’est pas comme si j’avais économisé de l’argent et tout d’un coup, j’ai changé d’avis haha! Si vous m’aviez demandé il y a un an quel était l’un de mes objectifs, cela aurait été l’achat d’une maison. Un an plus tard, les choses n’ont pas complètement changé mais mon état d’esprit a changé sur certaines choses donc j’ai trouvé ça vraiment intéressant.

Nous vivons à une époque où les gens accordent tellement d’importance aux choses matérialistes que ce soit le sac que vous possédez, les chaussures que vous portez jusqu’aux produits de maquillage que vous utilisez. De toute évidence, je dis cela de mon point de vue et les choses pourraient être complètement différentes du vôtre, mais la base est à peu près la même. Si vous louez, c’est un gaspillage d’argent. Si vous payez une hypothèque, c’est un investissement.

L’achat d’une maison est une affaire énorme pour beaucoup de gens et je pense personnellement qu’il y a maintenant cette pression tacite pour que les jeunes achètent leur première maison dans la vingtaine ou au moins dans la trentaine. Je ne vais pas mentir, j’ai aussi succombé à cette pression et je me suis fixé l’un de mes objectifs de vie pour acheter ma première maison dans la vingtaine. Je n’ai pas exclu l’idée d’acheter ma propre maison un jour, mais je n’ai pas ce désir d’en posséder une, que ce soit maintenant ou à un âge précis.

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WHY I WOULD LIKE TO BUY A HOME

I thought I would start off by saying why I would like to buy a home one day because I don’t think it’s spoken enough. For example, we don’t really question why somebody wants to buy a property because in our minds, it’s a necessity. It’s like buying a phone or laptop. You buy it because you need it in your life.

Don’t get me wrong, I’m not saying that a house is not something important or essential but I just find it interesting that you actually don’t really need a reason to buy a house to begin with. It’s like the next step in your life. It is an investment and it’s probably where you are going to live for the foreseeable future but so is a rented home.

So I don’t understand why people question someone who rents a home and not someone who buys one. I would think that the answer is pretty obvious as to why someone rents or buys a house. You don’t really really hear someone asking “why are you buying a house?” but you will probably hear often “why are you renting?” (as if it’s a bad thing).

At the end of the day, both give a roof over your head and that’s what matters. And please don’t get me started about the whole topic of “living with parents”! Some people really make it seem as if it’s a sin. Anyway, enough of the rambling! When I was little, my mum instilled in me that having my own place was the best and safest investment I could ever make.

It was one of her dreams and then it became mine. I loved the idea of having a place to call my ‘forever home’. A place I could renovate and decorate up to my personal preference. Depending on your property’s value and mortgage, the amount you pay every month can be considerably low compared to your rent which sounded really good.

Je pensais commencer par dire pourquoi j’aimerais acheter une maison un jour parce que je ne pense pas que ce soit assez parlé. Par exemple, nous ne nous demandons pas vraiment pourquoi quelqu’un veut acheter une propriété parce que dans notre esprit, c’est une nécessité. C’est comme acheter un téléphone ou un ordinateur portable. Vous l’achetez parce que vous en avez besoin dans votre vie.

Ne vous méprenez pas, je ne dis pas qu’une maison n’est pas quelque chose d’important ou d’essentiel, mais je trouve juste intéressant que vous n’ayez pas vraiment besoin d’une raison pour acheter une maison pour commencer. C’est comme la prochaine étape de votre vie. C’est un investissement et c’est probablement là où vous allez vivre dans un avenir prévisible, tout comme une maison louée.

Je ne comprends donc pas pourquoi les gens interrogent quelqu’un qui loue une maison et non quelqu’un qui en achète une. Je pense que la réponse est assez évidente quant à la raison pour laquelle quelqu’un loue ou achète une maison. Vous n’entendez pas vraiment quelqu’un demander “pourquoi achetez-vous une maison?” mais vous entendrez probablement souvent “pourquoi louez-vous?” (comme si c’était une mauvaise chose).

À la fin de la journée, les deux donnent un toit au-dessus de votre tête et c’est ce qui compte. Et s’il vous plaît ne me lancez pas sur tout le sujet de «vivre avec les parents»! Certaines personnes donnent vraiment l’impression que c’est un péché. Quoi qu’il en soit, assez de la randonnée! Quand j’étais petite, ma mère m’a inculqué qu’avoir ma propre place était le meilleur et le plus sûr investissement que je pouvais faire.

C’était l’un de ses rêves et c’est devenu le mien. J’ai adoré l’idée d’avoir un endroit pour appeler ma «maison pour toujours». Un endroit que je pourrais rénover et décorer selon mes préférences personnelles. Selon la valeur et l’hypothèque de votre propriété, le montant que vous payez chaque mois peut être considérablement bas par rapport à votre loyer qui sonnait vraiment bien.

Related: 3 Effective Ways To Save Money

 

WHY I’M DEBATING

Now, you might be asking why I’m debating and changed my mind. Well, since I moved out last year, I realised that home is not the place you live but the people whom you live with. You could pretty much move anywhere in the world and still feel like home if you are with the right persons.

In addition, just because you buy a house doesn’t mean you technically own the house. You have to pay your mortgage and the cost/years varies depending on the amount, interest rate and other factors. I would recommend to use a mortgage calculator if you want to calculate your mortgage or just see it yourself how much money you will likely to spend.

Ever since, I realised the hidden costs and the full extent of how much money it really takes to buy a home that’s when I started to question my decision. Don’t get me wrong, I knew the amount wasn’t small but the amount you have to pay every month isn’t small either depending on the property/mortgage.

I know most people say it’s impossible but I would rather buy a home paying the full amount than having a mortgage to pay for the rest of my life. One of the things I’ve learnt is that life is precious and you need to live it to the fullest. If I only earn enough to make ends meet then all my money would only go for the mortgage and bills.

But what’s the point of living in my own house if I’m not able to do or buy things that I like? Now, with Covid-19 the house prices have fallen – I would say it’s such an uncertain time to make a huge investment like this. I would rather save all that money and not worry about my finances for a very long time than spend it all at once and not feeling fulfilled.

Maintenant, vous demandez peut-être pourquoi je débatte et que j’ai changé d’avis. Eh bien, depuis que j’ai déménagé l’année dernière, j’ai réalisé que la maison n’est pas l’endroit où vous vivez mais les gens avec qui vous vivez. Vous pourriez déménager n’importe où dans le monde et vous sentir toujours comme chez vous si vous êtes avec les bonnes personnes.

De plus, ce n’est pas parce que vous achetez une maison que vous en êtes techniquement propriétaire. Vous devez payer votre prêt hypothécaire et le coût / années varie en fonction du montant, du taux d’intérêt et d’autres facteurs. Je recommanderais d’utiliser une calculatrice hypothécaire si vous voulez calculer votre prêt hypothécaire ou simplement voir par vous-même combien d’argent vous allez probablement dépenser.

Depuis, je me suis rendu compte des coûts cachés et de l’ampleur de la somme d’argent qu’il faut réellement pour acheter une maison, c’est là que j’ai commencé à remettre en question ma décision. Ne vous méprenez pas, je savais que le montant n’était pas minime, mais le montant que vous devez payer chaque mois n’est pas non plus petit en fonction de la propriété / de l’hypothèque.

Je sais que la plupart des gens disent que c’est impossible, mais je préfère acheter une maison en payant le montant total que d’avoir une hypothèque à payer pour le reste de ma vie. L’une des choses que j’ai apprises, c’est que la vie est précieuse et que vous devez la vivre pleinement. Si je gagne juste assez pour joindre les deux bouts, tout mon argent ne servira qu’à l’hypothèque et aux factures.

Mais à quoi ça sert de vivre dans ma propre maison si je ne peux pas faire ou acheter des choses que j’aime? Maintenant, avec Covid-19, les prix des logements ont chuté – je dirais que c’est un moment tellement incertain pour faire un énorme investissement comme celui-ci. Je préférerais économiser tout cet argent et ne pas m’inquiéter pour mes finances pendant très longtemps plutôt que de tout dépenser en une fois et ne pas me sentir épanoui.

Related: 3 Easy Ways To Earn & Save Money As A Student This Summer!

 

WHY I’M OKAY IF IT’S NOT IN THE CARDS

As I mentioned above, there is this pressure that you have to buy a home in your life. That’s pretty much the goal! I used to think it that way as well but I don’t anymore. I would rather have a beautiful home that feels cosy than to live in a huge house and worry about my finances every month.

I don’t know why there is a negative stigma about renting and not wanting to buy a home. Obviously, if someone had the means to do so then they would have done it already! People don’t choose to not buy a home, most of the times it’s because their circumstance doesn’t allow it.

If I’m meant to buy a home – which obviously costs a lot of money and effort – then I would. If I’m not meant to buy a house then I completely okay with that as well. I’ve always lived in a rented home and I’ve never had a problem with that. Living in a happy and peaceful home is way more important than owning a house.

Comme je l’ai mentionné ci-dessus, il y a cette pression que vous devez acheter une maison dans votre vie. C’est à peu près l’objectif! J’avais l’habitude de penser ainsi mais je ne le pense plus. Je préférerais avoir une belle maison confortable que de vivre dans une immense maison et de m’inquiéter de mes finances chaque mois.

Je ne sais pas pourquoi il y a une stigmatisation négative à propos de la location et de ne pas vouloir acheter une maison. Évidemment, si quelqu’un avait les moyens de le faire, il l’aurait déjà fait! Les gens ne choisissent pas de ne pas acheter de maison, la plupart du temps, c’est parce que leur situation ne le permet pas.

Si je suis censé acheter une maison – ce qui coûte évidemment beaucoup d’argent et d’efforts – alors je le ferais. Si je ne suis pas censé acheter une maison, je suis tout à fait d’accord avec ça aussi. J’ai toujours vécu dans une maison louée et je n’ai jamais eu de problème avec ça. Vivre dans une maison heureuse et paisible est bien plus important que posséder une maison.

Related: 4 Things That Made Me Happy.

 

As always, I would love to hear your thoughts about this topic! Do you rent or have you bought your own house? Are you planning to buy a house in the future? Let me know in the comments down below!

Comme toujours, j’aimerais entendre vos réflexions sur ce sujet! Vous louez ou avez-vous acheté votre propre maison? Envisagez-vous d’acheter une maison dans le futur? Faites-moi savoir dans les commentaires ci-dessous!

 

THANK YOU SO MUCH FOR READING!

xo N

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  1. I rent and I have rented in a few different properties for several years. But I won’t to buy, but it’s on hold after this year I have had and the unexpected to come. So I don’t have the deposit now that I nearly had.

    The plan was to have no more than 13 years to pay off a mortgage. If I could do it a little less, then all the better.
    And if all in one go, then brilliant.

    I have not given up on the idea. But it’s on the shelf. I can’t focus on it as I once blogged, as its a little upsetting that once again I was once so near, now so far.

    1. I’m so sorry to hear that, but if you were able to save the deposit’s amount nearly once then you will be able to do it again. I’m pretty sure you will be able to do it ❤️ Thank you so much reading love x

    2. I shall save, but not going to focus on the house part until I have actually the money. Then I will start looking, which sometimes takes time and so the saving still happens while doing that.

  2. I personally have no interest in buying house by mortgage deal. For the reason that I don’t want monthly stress of paying plus as you’ve mentioned about the hidden costs and other miscellaneous expenses in it. I manage to save enough and bought house and lot in cash instead. It may not be as good looking as my dream house, but brick by brick I’m trying to rebuild it the way how I wanted it to be. Great article!

    1. That’s my goal as well! I don’t care if it’s not beautiful or huge, I can always rebuild it the way I want. Thank you so much lovely ❤️

  3. I rented for the first 5 years of my working life (last 2 married). I bought a home as an investment, not in assets but in my life. Having moved 28 times in my first 17 years of life and then 8 times in the first 8 years of my working life, I never had the security of a long term home. Since 1979, I have lived in 2 purchased homes (my current one for over 29 years). They gave me a stable lifestyle and I was able to give my 2 kids what I never had, 13 years of schooling in one location. I can see living here for another 8-10 years and if I ever decide to move, I will likely rent, rather than buy again, to give me less maintenance work and make my senior years easier. Renting or owning is a personal choice. I have one son who rents (Vancouver housing market is crazy) and another who owns. They have both made the right decision for their lifestyle. Cheers. Allan

    1. I definitely relate to the part about having the security of a long term home. I had to move when I was in middle school and till this day, I believe it was a factor that changed the course of my life. I’m pretty sure my life would have been completely different if I hadn’t moved so hearing that you gave your 2 kids what you never had which is 13 years of schooling in one location, warms my heart. I’m sure they appreciate it so much.

      I completely agree with you, it’s definitely a personal choice. Thank you so much for sharing your thoughts and experience Allan! Have a lovely day!

  4. I am currently in the process of looking at homes to buy. It’s been a headache though! Every time I feel like I’ve found one that I love, it doesn’t work out. Maybe it’s meant to be and it will work out with the right one but its a lot of let downs! Thanks for sharing your thoughts!

  5. Quite interesting topic…..You’re right about the materialistic things….how we’re obsessed with that….I’ve lived on both rented & owned apartment & houses….I felt when l was renting that I was loosing money as I didn’t own anything….I was simply paying….that’s how I thought at that time & that’s how I still think….in my opinion, it also depends on another factor, called investment & whether one wants to “play” with the house by induldging in DIY projects, adding something extra (improving the garden, terrasse etc)….everyone has a different way of looking at the things….owing a house & perhaps selling it later doesn’t mean that one’s gonna earn on the investment….it could swing both ways….it depends on the market, location, the type of bank loan & other factors as well….so buying & selling a house could be a complicated affair compared to living in the rented house….but again, you can’t “play” a lot with the rented house…..so it’s personality based as well….the most important thing is to feel happy in whichever manner….just like you mentioned it in your great sharing….it doesn’t matter if one lives in the rented house or one owns a house….the bottom line is happiness & “feel at home” feeling….the goal of buying within a certain age can’t be the decisive factor….that’s my pov 😉✨

    1. Thank you so much for sharing your thoughts Navin! I totally agree with you, there are so many things you have to consider when buying a house (and one day, potentially selling it). As you said, happiness is what matters! Thank you so much for reading 😊

  6. Goodness, you really hit the nail on the head! I can definitely relate to this as I am finally working a stable job, my next step at the moment seems to be buying a house. After considering how buying is better than renting, especially if we have roommates, I thought it might be a good idea but the process of getting a loan, house haunting and paying is so overwhelming. I didn’t know about all of the added costs such as closing costs and fees either so it was daunting and honestly, discouraging.

    Thank you so much for writing and sharing this, I’m so happy to know that I’m not the only one feeling this way, great post and super detailed!

  7. I don’t believe there’s anything bad with renting. It’s less definitive than buying (if buying even is) but that’s okay. Some people like to be as free as the air, and nobody should judge that. There may be a point in your life at which you absolutely want to buy a house or apartment to feel settled. I’ve had this question in my head for a while too. However I don’t pay it much heed anymore, cause it doesn’t matter so much in the end. As you said, the people around you matter much more.

  8. I would like to buy because mortgage repayments are cheaper than rent! But my issue is saving up a deposit. Working in education, it will take me years (I’m talking 30/40 years) to save up. If I got paid for all the teaching I do it wouldn’t be quite so bad… But at the moment it looks like I’ll be using all my pension money when I retire on rent. Or just have to work forever…

    1. I completely relate to that, saving the deposit is definitely the first part and there are other miscellaneous and hidden costs as well so you don’t only have to save for the deposit. I just wish there was a much easier and accessible option for everyone. Thank you so much for reading lovely ❤️

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