Is there a law that requires people to own a home at some point in their life?
I kinda want to rent most of my life so I don't have mortgages or real estate taxes or home owners insurance.
Will I still go to heaven if I rent my whole life?
2007-08-11 06:07:00 · 14 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
You are too funny!! I am totally reading the sarcasm in your message.
Let me guess, you are successful, make a good living, but prefer to rent so you don't have to deal with the hassle of homeownership and your friends and family constantly bombard you about being a homeowner?
Yeah, I hear you... they beat on you like homeownership is some religion you better sign up for.
My wife and I used a to rent a place that was on the beach in florida for $700 a month. We had our own private boat access and private beach access. The apartment was a little small, but the property was beautiful and well kept. Everyone kept getting on us to be homeowners. The only reason we decided to buy was because we wanted to live somewhere bigger that had a yard and figured owning was cheaper than renting.
I feel your pain though... renting does have its benefits.
You don't have to pay to fix anything that breaks.
You can move out, forfeit a deposit and move on.
You can be in locations that you wouldn't normally be able to afford.
Some times it makes sense to rent... I'm a mortgage banker and I know exactly where you are coming from. if you ever change your mind though, you can always email me and I'll get you set up. Fight the power!!!
2007-08-11 10:33:26 · answer #1 · answered by The Smart One 4 · 1⤊ 0⤋
No, there is no law that requires you to own a home. However, the government rewards people that do. For example, if you pay $1,000/month in rent - the landlord has to pay property taxes on that and HE then takes the deduction from his income taxes instead of you. I work in finance and I could spend all day explaining the benefits to you, but I'm sure that would be boring.
Do this -- buy a condo. It's like renting, but you get the benefits of both worlds.
2007-08-11 06:16:02 · answer #2 · answered by mukwonago53149 5 · 0⤊ 0⤋
Not mandatory and not even desirable for some people. Most people want the equity build-up, tax deductions, and feeling of owning their own nest. Lots of other people rent their whole lives and are none the worse for it. When the toilet stops up, they just call the landlord. When market values decline, they just continue to pay rent.
Worry less about this and more about what else might keep you out of Heaven.
2007-08-11 07:53:32 · answer #3 · answered by Cheryl G 7 · 1⤊ 0⤋
Renting is throwing away money. You have nothing to show for it in the end. You can pay the same or maybe a little more with a mortgage and own real estate.
2007-08-11 06:54:49 · answer #4 · answered by KathyS 7 · 0⤊ 1⤋
Sweetie, I'm sure you'll go to heaven regardless. No you don't have to own a home. But there are real financial tax benefits to owning, and it add's to your overall net wealth. Renting is like throwing your money out the window. You see no return on your investment. When looking at your financial situation, you always want to make sure you are getting a good return on your investment dollar.
2007-08-11 06:12:35 · answer #5 · answered by Anonymous · 0⤊ 0⤋
No, you aren't forced to own a home in America.
There is no law mandating that you have to own a home in your lifetime.
I believe God understands too. He will let you into heaven no matter how your living style was.
A lot of people I know, rent an apartment for over a decade.
Lots of people spend their whole lives in apartments renting.
2007-08-11 06:10:38 · answer #6 · answered by I hate Hillary Clinton 6 · 1⤊ 0⤋
You do not have to own your home but you will miss out on some great tax breaks. Also, owning your own home is the best way to improve our economy. You also have less rules to contend with as far as how you want your home to be. I heard someone say that the quickest way to becoming wealthy is to own your home.
You will go to heaven as long live the way God ask you to and you except Jesus as you personal savior and friend.
2007-08-11 06:19:00 · answer #7 · answered by daysonsmom 2 · 1⤊ 0⤋
Where did you ever get the idea that it's mandatory to own a home?? There's no such law and there would be no possible way to enforce it even if there was.
Heaven doesn't exist, but that's another question entirely.
2007-08-11 06:37:29 · answer #8 · answered by Bostonian In MO 7 · 0⤊ 0⤋
The breadwinner does choose existence coverage and the companion could be further as a rider below the coverage. $40 a month is affordable for peace of ideas that each and every thing would be o.ok. if some thing occurs.
2016-10-10 00:20:40 · answer #9 · answered by ? 4 · 0⤊ 0⤋
Do you live in CA? I will buy a house to rent to you! What do you want! You are a landlords dream! Pay my mortgage! WooHoo!
2007-08-11 06:18:45 · answer #10 · answered by Landlord 7 · 3⤊ 0⤋