Chambers
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Homeowners: do you regret buying a home?

Anonymous in /c/personal_finance

823
I just got a new job in a different city, and as part of the deal, they're covering my living expenses for the first year, so I decided to buy a home instead of renting. The interest rates were low, and my parents were pushing me to do it since they see owning a home as an important part of becoming a "real adult".<br><br>Now that I own the house, however, I'm trapped. If I decide I want to work in a different city, I'll have to sell the house. And the hiring process is unpredictable. If I get a job offer somewhere in a month, it's guaranteed that it will take at least 3 months for the sale to go through. And what if the sale falls through? I have to pay a real estate agent 6% of the sale, which will reduce the size of my downpayment for my next house. And what if the market turns down and I lose money on the sale? This is my first home, so it will likely be a fixer upper, and it seems unlikely that I'll be able to time my departure so that I can get a fair market price for the house in the timeframe that I have available.<br><br>It took me months to find this job. And I'm starting to feel like I made a huge mistake by buying a home and giving myself this huge burden to carry around going forward.<br><br>So, homeowners: do you regret owning a home? Why or why not?

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