I hated being a tenant. Not because my landlords were bad but, I tought I was just shoveling money out the door so, when I bought my apartment back in 2004 and paid it in full by 2005, I was extremely happy.
Home ownership is great and I am very thankful for God's help in enabling me to buy my current residence. However home ownership doesn't come cheap. There are 9 apartment buildings in my community. Some are 6 levels like mine and some are 10 levels. There are 1-2-3-4 bedroom units.
We elect a management every year and make monthly payments for security guards, gardeners, cleaning personnel and for general upkeep of the complex. It is not a fancy place. No pool or anything like that but it is at a very desirable spot and our apartments are still considered great investments. The buildings are 16-17 years old or so, last year we had to pitch in extra for insulation of all buildings and an external paint job. This year, we are paying for a new heating system. I am sure next year will be something else. I also had an internal paint job and tore down my bathroom last year. Now, the kitchen is awaiting for a complete renovation. So, you see even if you own your place free and clear, it is a money pit.
I am also a landlady. I have a rental apartment in Ankara. That is at a fairly new complex so, I do not have many expenses related with that....yet but, I am sure some time in the next few years, there will be additional money I shall have to shell out.