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My husband and I live in a two bedroom apartment. They’re pretty dated but it’s very spacious and I think it’s quite cozy now that I’ve decorated it nicely. His family though keeps asking us how long were going to live here and smirking because of our living situation and the fact that we don’t own a home. Our credit score isn’t great but we’re working on it. Is it shameful to be in your mid 20s living in an apartment?
Millennials not owning a house? Hah! Gen X and Boomer parents have probably lost touch with reality.
Houses are rarely a personal asset. They are however the mortgage companies asset. By definitions assets pay you money.
Houses also require expensive maintenance (I spent over $30,000 on a roof for most of the house about 2 years ago), and I likely need another $25,000 for the flat roof section and $15,000 for the garage. That is for 100+ year metal roofing.
Admittedly I could spend half of that for another shingle and membrane roof that last 20 years like the last one; which does not make long term economic sense - and adds no value to the half of the house I own (the mortgage company owns the other half).
I also need to replace the siding on the house too. That does not count all the various projects I have done every several years that cost several thousand each.
For many people living in a apartment is a better choice,
In a number of cities - almost everyone lives in apartments or condo's (which are essentially glorified apartments with an ownership interest; but, pay close attention to the Condo Association fees).
My mom doesn't even own her own place. Renting is nothing to be ashamed of. If everyone had the resources to own their own place we would be out of land by now so no one could own their own place
I owned my first house at 26 👊
The hardest part is saving enough money for down payment. Also it helps to move out from the city where its cheaper and then drive to work. You are gonna pay a lot less monthly than you'll expect.
I've always lived in an apartment but my dream is to have a house. I've always wanted a garden and to live quietly without wanting to murder my neighbours and especially their kids for making noise everyday. I've never experienced judgment for living in an apartment though. There is some level of judgment when you don't own your apartment, for some reason. I personally have no desire to buy an apartment though as I don't even want one in the first place. Most people don't care much though. It's hard to find apartments nowadays and everyone knows that, especially if you don't want to or if you can't buy one.
Next time they ask them when they’re giving you their financial contribution - should shut them up.
Also if people are being rude about your home you don’t have to invite them over.
Parents should not judge their grown children for where they live. They should learn that the world is not as easy as people make it out to be. I hope they receive this reality check and go on about their business.
It is massively culture- and country-specific - even area-specific within the same country. I can say that much from experience.
Also, your parents need to stop being so judgmental and closed-minded. There is no shame in not owning houses in so, so many places in the world. Even the places where it used to be expected that you own property, are changing.