Is Home Ownership Worth it?

Posted by Mrs Money on July 20th, 2015

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Recently, we had a large storm come through and it took one of the big trees between our neighbor’s house and ours down.  It landed on the power lines and surprisingly enough, we didn’t lose power.  We called the electric company and they came out to assess the damage and decided that they needed to turn our power off because the tree had ripped our electric meters off our houses.  They also told us that we needed to get an electrician in to repair the electric meters.  Sigh. We got the electric meters repaired and called to have the electricity turned back on.  They told us that we had to call the county to have the work inspected.  We called, and then found out that we had to pull electrical permits (more money) to have the inspector come out.

We took care of all that, went and paid for our permits, and are currently waiting for the inspector to come out.  Thankfully, he was kind enough to call the electric company and have our power turned back on so we weren’t without power for many days.  Through this same storm, Mr. Money woke up to a weird noise in our house and realized that the ceiling in our living room was leaking.  He went up into the attic and realized that there were two more leaks on the other side of the house!  Thankfully he went up there because we never would have known.  We had to have a roofer come out and fix the leaks.

In all this, I can’t help but feel like sometimes renting would be a better option instead of homeownership, especially for some people.  When you think of all the mortgage interest you pay, the cost of homeowners insurance, general upkeep, roofing that will need to be replaced, paint, upgrading that needs to be done every 15 years or so, appliances that will eventually have to be replaced, etc., it adds up!  It’s overwhelming to me to think of all the costs that could add up all at one time!

I’m thankful that we live frugally so hopefully when these things need to be done we’ll have the money to do them. In the meantime, we’re just going to live with the things we have and try to save as much as we can for future expenses.  Since all of this happened, I have been very grateful that we have a small emergency fund to cover some of this stuff!

However, on the other hand, I can’t help but think of how easy it would be if we were renting to just call the landlord and they have to take care of all the problems 🙂 I am hoping in 18 or so years when our mortgage is paid off that I’m thankful that we do have a house.  Not having a mortgage payment will be beyond amazing, and I’m sure then we will feel differently about owning versus renting!

What do you think- is homeownership worth it? Would you rather rent or own?

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One Response to “Is Home Ownership Worth it?”


  1. Paul says:

    It’s a very good point being made in this article. Most people don’t even think about it, but whatever benefit there is financially in owning a house rarely gets monetized. Who owns a house then sells it and rents?

    [Reply]



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    Welcome! I'm Mrs. Money and I lead a frugal, simple, and debt free life on a modest income. I make money online to help support our family. I believe in saving money, living green, and enjoying life!

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