Like any private job, it is clear that AT&T doesn’t offer job security, it used to have long time ago. Now, in this situation where your job is always at risk even in the hubs, should folks just take a risk and purchase a home with enough cash in hand to survive a layoff or keep renting the rest of your life? Especially when Mortgages and rents work out same cost. What did the folks who decided to move did?
12 replies (most recent on top)
Why not be just like at&t? Own nothing, lease or rent everything. My how this once mighty wealth ridden company has fallen. Old Bell System employees would roll over in their graves!
"yeah right, just pay for somebody else’s mortgage and lifestyle with your rent money."
That somebody else also takes all the risk and responsibility for upkeep.
I own a home and rentals. Owning is great long term, but there are roofs to replace, HVAC to maintain and repair, extra liability insurance to purchase, LLC's to maintain, etc... none of which is cheap. Not to mention the occasional bad and judgement proof renter. Housing traditionally increases in value at about the historic inflation rate, not including upkeep.
Buying a home and needing to sell if a market downturn follows in the early years of ownership can be painful, including loss of down payment, seller commissions, and prep expenses.
Owning vs. renting is far from an easy binary choice
I wouldn’t commit to buying. Unless you really, really want to live there for a long time. With instability the way it is at this company. I would think renting would be a better option. If you own your home where you currently live, you might want to consider renting it out while you’re away for enough to pay your mortgage and a little extra.
I am glad I bought when I did in a good neighborhood as my home is now worth six times what I paid for it. Times are different now and I feel terrible for young adults wanting to purchase. If you buy a home even one that requires work in a good area with good schools etc. your home will always appreciate in value. If needed you will not have an issue renting or selling it if need be. I do agree though if you have to relocate it is probably best to rent for a year two to get a feel for the area and to see how stable the job is.
Not buying a house when I was working my first “big boy” job was the second smartest thing I did next to not putting any money in my 401k. Owning a house just means renting from the ultimate landlord (The .gov) who can kick you out at a moments notice by raising your property taxes to unaffordable levels and 401Ks are just government sponsored pump and dump on the retirement savings of the masses
@ah, that's old school thinking and it has landed lots of young home buyers into plenty of trouble. Do the math, it doesn't always workout as well as you think it is. It's a different ball game in today's market and economy...
You’ll own nothing and be happy.
But seriously, late millennials and especially Gen Z don’t know how to do mechanical things. And like the rest of the decisions they make, they’d prefer someone else do the hard work.
@ae yeah right, just pay for somebody else’s mortgage and lifestyle with your rent money. That’s not the answer.
@aa Many such cases.
Owning a home is not what it once was...when you look at labor and materials costs going up, sky high taxes and insurance, high mortgage rates, it's ridiculously expensive.
You're better off keeping the flexibility of renting and putting your money somewhere to where I can actually grow and work for you...home ownership is overrated in today's world.
I rented for a year when moving to Dallas. Was recently laid off so this was a good decision
I rented for a year when moving to Dallas. This provided an opportunity to explore the area and figure out where we wanted to live permanently. I would suggest waiting a year to buy.