Owning a home is still desirable despite what some may say or think, especially in Texas. Of course, renting is convenient and hassle free. The landlord is responsible for property and maintenance. If something breaks, you simply call and report it. Some landlords even do yard maintenance and pest control. Leases are generally six months to one year long, giving you the option to renew or move to another rental. You can upgrade or downgrade more easily than with a house. But what if you have a landlord that avoids your calls about a broken stove or leaky faucet? Or goes on vacation and takes over two weeks to fix a broken A/C? Some contracts do not allow you to fix problems with electrical or plumbing for liability purposes, even if you intend on funding the repair. What if you simply want to add color by painting the walls? Most landlords don't allow it. You have to live with the property as is. You cannot upgrade countertops or appliances. You cannot add a bedroom. The idea is to leave the rental in the same condition it was in when you moved in when you move out. And of course there is the financial aspect of renting. It doesn't matter how much you paid in rent or how many years you lived there, you get nothing in return except temporary shelter. You have no equity. When you own a home, the payments have an end. Whether or not you do pay off your home, the idea is you canpay off your home. Once you pay it off, you can leave it to a spouse or children when you pass. It belongs to your family. A well-maintained home can provide for multiple generations of a family. Or it can be sold if need be. You don't need permission to install granite countertops or put in new hardwood floors. Maybe real estate isn't the best avenue for investments or to strike it rich, but that does not make owning a home a bad idea.

Blog inspired by article written by Brett Arends featured in The Wall Street Journal and can be seen here: http://online.wsj.com/article/SB10001424052748703376504575492023471133674.html?mod=WSJ_RealEstate_LeftTopNews