Not that I could ever afford to buy a house here in the San Francisco Bay Area. But, if I were hypothetically able to, it’s kind of a crap shoot, isn’t it? I’m talking about one thing you cannot change after you’ve bought a house: bad neighbors.
Buying a house in a supposedly “good neighborhood” is no guarantee of good neighbors either. Sure you may not have to content with the constant loud music and occasional robbery shooting. But maybe your new neighbor next door runs a wood-working shop out of his garage. Good luck concentrating with that ruckus whilst trying to work from home. Because you do work from home, right? Who can afford a house around here without a remote software engineering job anyways.
That’s why I am a fan of renting (and not just because I can’t afford a house). The longest I would be ever stuck with a crappy situation is one year. Heck, if it’s truly unbearable, I’d have no problem paying to break the lease and get out of there. You simply cannot do that with a 30-year mortgage! Call up the bank and be like: “Yeah, I would like to return this house…”
It’s too bad you can’t test-live a home. Move in for a month, and if your neighbors happens to be from hell, you have an escape clause.
I actually like the idea of homeowner associations. There’s a clear set of agreeable rules that every homeowner in that subdivision has to abide by. If Jacob next door likes to practice guitar late into the morning, a polite email to the HOA will take care of that quickly. HOA takes care of any potential bad neighbors anxiety because the rules are typically what a civilized society should be: don’t intrude on others.
Green greetings.