[USER]

Hello! I am looking for a place to live that is little to no headache, offers stability and will help me reach FIRE. From a net worth standpoint, I am about halfway to my goal for money to retire and anticipate retiring around 2033.

My current landlord doesn’t abide by the lease or legal terms (and neither do my neighbors).

The list goes on but examples include denying me amenities promised in the lease (e.g. parking, internet, laundry) and collecting double payment on utilities (its included in my rent to my landlord but I later learned that he doesn’t pay for these utilities).

There have also been a lot of things that have broken on the property which is an inconvenience for me since the landlord jacks my rent anytime he has these expenses and I have to take time off work to meet maintenance people.

There are also constant threats to throw me and all my neighbors out due to the unit not being profitable enough for him so he can find a new tenants and raise the rent.

I previously rented other places but they had bad roach infestations which causes me other stressors.

I am just looking to live in a peaceful place without a bunch of issues or drama, but also balance that with FIRE.

I have never owned but is owning less hassle than renting?

I live in a high cost of living area so half my takehome paycheck (which is almost 4x my rent) would go to a mortgage and I’d also have to live in an HOA and get a townhouse/condo.

I’m curious to know if an HOA is better than renting from a mental health standpoint and dealing with a landlord or if it’s the same idea.

I’m also one who only stays home about 50% of the time since I mainly rent to be close to my job.

If I don’t have to be at work, I will stay with my family that lives further from my job.

Does it make sense to still buy if you are only going to be there 50% of the time?

[Karen]

You probably already know the answer. The benefit of home ownership is more control. The problem of home ownership is more cost and more commitment.

I would first try renting somewhere else.

I used to be a landlord and didn’t act at all like yours, I think you can find a place with more respect and peace without the huge life change of ownership.

[Sherene]

If you plan on being in the area for 5-7years more, buy, if not, move. As a LL myself in a MCOL area, my property taxes, insurance, utilities, services etc have doubled in the last 5 years so it may have hit your LL harder since its a HCOL area.

When I look at other markets I’ve been in or in general have kept track of, same story.

Buying will be tough for a few years but you’ll be glad you did it after a few years have passed.

Good luck!

[Leslie]

I love condos! I travel a lot so for me the HOA is worth it. My HOA takes care of all exterior maintenance, pet control, etc.

Condo have lower utilities, water, and a lock and leave lifestyle.

If you ever get where you don’t need it you could rent it.

[Author]

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