When I was a young professional working in Omaha, Nebraska, I was in an environment that stressed living life by a bit of a template. Thus, as a college graduate, I was constantly admonished to take one of two obvious next steps in life: buy a house. If I had a dollar for every time I heard the expression “a house is the best investment you can make,” I probably would have had enough money to, well…buy a house. If Hallmark made a greeting card for the relationship, I heard it from that person: my parents, my coworkers, my boss(es), many of my friends, and even my auto mechanic.
Most of the time, I would kindly nod my head; but secretly, it felt as if my ears had vomited into my brain. “There’s only so much dirt on the earth, and everyone needs a place to live, so housing prices will always go up,” I would hear. The popularity of this opinion, and the intensity with which it didn’t make any sense to me, was enough for me to begin to wonder if I was the crazy one.
When I thought about buying a house, it all seemed like a big freedom suck to me. It was mind-numbing to me the amount of time, money, and autonomy people were expending on this supposed, “best investment.” Paychecks were spent re-roofing them, nights and weekends were passed tending to their yards, job offers and moves were turned down because of their ownership, and the opportunities for serendipitous experiences were traded for “neighborhoods” as monocultural as the cornfields that surrounded them. These costs were exponentiated by the accumulation of stuff to fill empty rooms in these vessels.
It simply didn’t make sense to me, so I did other things with my money. I got a cheap apartment in a neighborhood of character, followed the principles of my instinct, stowed away in my Ameritrade account, and spent those precious nights and weekends persuing my curiousities, and building my skills. Thrift store scores of old Billy Joel records, books from the library, friends made in professional organizations, and hours spent coding and writing on my blog. When all of this paid off and opportunity called, there was no housing market to consider. I brought my investment with me.
I don’t want to make it sound as if I believe that buying a house is always a foolish endeavor. I’ll probably own one myself at some point, and I’m sure that for many people’s situations it was a great decision. However, for many, it didn’t turn out to be such, and the blind pursuit of this goal is at the root of the troubled financial times that we face now.
I’m also not disillusioned to the point of believing that I am some fantastic example of success; but I’m glad that I didn’t succumb to the frenzy. I was free to pursue the unexpected opportunities that came my way.
So what are the lessons to be learned? 1) Be strong in processing decisions for yourself and your priorities 2) Be wary of popular goals, because they quite often bananas 3) Sometimes, you don’t have to look much further than the bathroom mirror of your rented apartment, to find the best investment you can make.
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Money photo by tracy_olson. House photo by Per Ola Wiberg.
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Tim Jahn said,
October 8, 2008 @ 2:12 pm
Great lessons to be learned. And I agree with most of what you’re saying…you don’t have to buy a house, plant down, and take the kids to soccer practice. There are many other lifestyles out there. Heck, create your own new one!
Thriveal said,
October 8, 2008 @ 7:25 pm
David-
I wish I would have waited before buying my first house. I could probably have been further in my CPA firm, other businesses I own and a bigger house! Oh well. I’ll keep learning.
I love to learn. Life is a good teacher.
Thanks, Jason M. Blumer, CPA
Mary said,
October 9, 2008 @ 10:34 pm
I’m taking your advice, item 3, and having those cheek implants. And maybe a little eye work….
kadavy said,
October 10, 2008 @ 6:55 am
Ha! I guess I never thought of it that way, @Mary
Fayza said,
October 11, 2008 @ 10:20 pm
#1, #2, and especially #3 are the best points I’ve heard in awhile!
Terry Whalen said,
October 16, 2008 @ 11:03 am
David,
Love the post – I’m a happily married 40-yr-old w/ a lovely wife, 2 kids (2 and 5 yrs old) and a million dollar mortgage in CA. We love our house, and I’m happy to pay the mortgage (fingers crossed!), but I totally agree with your post. Buying a house had become a mantra over the last 5 years or so… very silly…
Mary said,
October 16, 2008 @ 1:14 pm
I think we’re allowed our intervals of comparative rest and contentment. One of the reasons you’re not supposed to, say, lift weights every day is that you’re basically creating small “wounds” and you’re supposed to give them time to heal before you inflict them upon yourself again. Every change is stressful, even if it’s good stress; and everybody’s life has a different rhythm. The trick is to be adaptable, as David says, and to not get addicted to the track you’re on, or the rhythm you’re in, because it will change, believe me — gradually, or with a big unwelcome jolt, or because you’re alert enough to understand that the “track” has become a “rut” and it’s time for change. The guru Krishnamurti once revealed his “secret”: “I don’t mind anything.” –Mary
P.S. to Tim — My kids are grown and gone, and every once in a while (I don’t wallow in the past very often) I’d give anything to be a soccer mom again, just for a day….
Frank said,
October 16, 2008 @ 3:05 pm
I agree with you for the most part. As someone who lived in 17 apartments in 9 years, I can say that I know from living flexability. I walked away from buying a place in North Carolina and frankly, had I bought it, I would have been stuck there still. Instead, my wife and I were able to say to one another “this sucks” and in three weeks we were gone.
Mary said,
October 17, 2008 @ 5:35 am
Oops. My comment, above, should have gone on David’s “adaptability” post. Oh, well. Be adaptable. Apply it to THIS post instead.
Mahbod said,
October 29, 2008 @ 8:45 pm
Thank you! great words! very inspiring… =)
many cheers.