Early retirement without home ownership

How to avoid signing your life over to a mortgage
Alphaville
Posts: 2466
Joined: Thu Oct 03, 2019 10:50 am
Location: Quarantined

Re: Early retirement without home ownership

Post by Alphaville »

zarathustra wrote:
Wed Oct 21, 2020 8:42 am
You should see my quirky antique rug collection! It's less toxic, more efficient, more visually interesting, and a far better investment.
please post up some photos, if you wouldn’t mind!

zarathustra
Posts: 172
Joined: Sat Apr 14, 2012 11:15 pm
Location: VEGAS, BABY

Re: Early retirement without home ownership

Post by zarathustra »

I gotta figure out how to attach photos. . .

Flurry
Posts: 63
Joined: Tue Oct 27, 2020 1:30 am
Location: Vienna, Austria

Re: Early retirement without home ownership

Post by Flurry »

In Austria renting seems to be easier to me. I rent a apartment with a small garden (what I find luxurious) for 1050€/month together with my wife. Buying a similar apartment would cost around 400.000€ + fees up to 10%. We'd lose flexibility and become the bank's slaves. I like the idea more to purchase stocks until they yield enough dividend to pay the rent
In Vienna there's also a very good social housing system, if we reduce our working hours to move to a lower income bracket, we can apply for an apartment which is even cheaper.
Moving to a rural area gives us the opportunity to purchase a cheap house but we'd need to go from 0 to 1 or 2 cars which adds a lot of costs again and I really don't think it's worth the effort.

ertyu
Posts: 1520
Joined: Sun Nov 13, 2016 2:31 am

Re: Early retirement without home ownership

Post by ertyu »

The car issue is definitely a reason why I ultimately decided on settling in a city. A house in a rural area is cheaper than an apartment but it is also more expensive to maintain and carries with it all expenses associated with compulsory car ownership. In the end I decided that purchasing my produce and not having to deal with maintaining a roof and a septic system + avoiding car, fuel, car insurance more than makes up for the added cost of urban housing.

I have to admit that I gave in and I bought a place. There are definitely cons, but let's hope it all ends up alright.

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