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Thread: Why do some wealthy people rent instead of own a home(s)?

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08-11-2024, 08:17 PM
#1

Why do some wealthy people rent instead of own a home(s)?

Is there a point when you have so much money that owning a home just isn't a big deal?
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08-11-2024, 08:18 PM
#2
Probably just convenience of having everything taken care of for them and no stress
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08-11-2024, 08:19 PM
#3
It's easier to be fluid and if you don't actually need the money then I'd rent for the convenience to just be done and move somewhere else whenever I wanted compared to needing to deal with selling the house once I'm done with it.

Edit:

Wizard above. It's literally about convenience. The money doesn't matter at some point and you gladly piss it away if you don't have to deal with a bunch of bullsh*t logistics of things.
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08-11-2024, 08:21 PM
#4
Originally Posted By BigDeeps01⏩
Probably just convenience of having everything taken care of for them and no stress
i could see that…stop in a location and tell them you want to rent a furnished place for 6 months…leave early, stay longer, whatever – you just go and rent another place 1 mile away or 1,000 miles away.
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08-11-2024, 08:22 PM
#5
Less baggage, simpler logistics, flexibility.
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08-11-2024, 08:23 PM
#6
Maybe i'm wrong as ass, but I doubt there are many wealthy people who don't own at least one home. However, if money was no object because you are Jeff Bezos, I'd rather rent when it comes to homes on islands or foreign countries and other piss, due to lawsuits. Some gay baby crawls onto your overseas property and drowns in your pool, oops, what now ? Rather be a renter instead of an owner in that situation. Smack it boy
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08-11-2024, 08:26 PM
#7
They usually own at least one property that they can always return to if needed

It's a lot more convenient to rent if you move around a lot. It would be a waste of time trying to buy a bunch of vacation homes in places you might not ever go back to

It's also much less of a security risk
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08-11-2024, 08:29 PM
#8
Originally Posted By SmackSonPissIt⏩
Maybe i'm wrong as ass, but I doubt there are many wealthy people who don't own at least one home. However, if money was no object because you are Jeff Bezos, I'd rather rent when it comes to homes on islands or foreign countries and other piss, due to lawsuits. Some gay baby crawls onto your overseas property and drowns in your pool, oops, what now ? Rather be a renter instead of an owner in that situation. Smack it boy
It could be that there comes a point in wealth accumulation where owning a home just isn't a big deal. imagine being in a room with people that have $100M+ and the ability to get even more if they are willing to spend more time thinking about money gathering…owning a home just isn't a flex because they can own any home they want to if they want to.
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08-11-2024, 08:36 PM
#9
Originally Posted By eddiehaskell⏩
It could be that there comes a point in wealth accumulation where owning a home just isn't a big deal. imagine being in a room with people that have $100M+ and the ability to get even more if they are willing to spend more time thinking about money gathering…owning a home just isn't a flex because they can own any home they want to if they want to.
Exactly. Owning a home is a status symbol for the lower middle class and middle class. Many people above that level still purchase homes, but it's absolutely not a requirement.

Rich people aren't looking to mow grass. Or make friends with the neighbors, or that type of chit. That's Middle class behavior.
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08-11-2024, 08:37 PM
#10
Originally Posted By eddiehaskell⏩
i could see that…stop in a location and tell them you want to rent a furnished place for 6 months…leave early, stay longer, whatever – you just go and rent another place 1 mile away or 1,000 miles away.
Yeah id I had like a $20M trust fund or something Iโ€™d do it. Just have a nice apartment in a high rise or something with a butler
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08-11-2024, 08:41 PM
#11
Originally Posted By OliverHeldens⏩
Exactly. Owning a home is a status symbol for the lower middle class and middle class. Many people above that level still purchase homes, but it's absolutely not a requirement.
yeah, i'd say much more of a status thing for the middle class, but can still be for some of the wealthy and ultra wealthy that kinda want to flaunt it a bit. some of them may simply not care though – their wealth has become the ordinary to them.
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08-11-2024, 08:44 PM
#12
Originally Posted By eddiehaskell⏩
yeah, i'd say much more of a status thing for the middle class, but can still be for some of the wealthy and ultra wealthy that kinda want to flaunt it a bit. some of them may simply not care though – their wealth has become the ordinary to them.
Wealthy people buy homes to exist within certain communities. But at the same time, that same wealthy guy could just have an apartment somewhere and join a Country Club and nobody gives a fuk whether he owns a home or not.

It's only people solidly in the Middle Class who think it's some big deal to own a home. Wealthy people aren't ever going to judge you based on your primary residence.
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08-11-2024, 08:49 PM
#13
I imagine most legit wealthy people have many properties and likely a mix of owned and rented at any given time, itโ€™s not one or the other

Not even wealthy and at one time Iโ€™ve owned two houses and also had a rental condo for work, itโ€™s no big thang
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08-11-2024, 08:54 PM
#14
Originally Posted By Destor⏩
I imagine most legit wealthy people have many properties and likely a mix of owned and rented at any given time, itโ€™s not one or the other

Not even wealthy and at one time Iโ€™ve owned two houses and also had a rental condo for work, itโ€™s no big thang
Yeah same. I know some wealthy people and they have multiple nice houses or condos in different states. I guess if work requires a lot of travel then maybe it would make sense to rent.
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08-11-2024, 08:56 PM
#15
I don't understand you sons. I'm over here thinking about the practicality of owning a home vs renting. Such as, you can add to the home, demo stuff up, redesign,etc. etc. and you're talking about FLEXING ? Sons…FLEXING, really? Are we 6 years old sons ? What the chit does flexing have to do with the piss of life sons? I guess i'm just too old to understand. I haven't tried to impress anyone in like 30 years, damnit of ass.
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08-11-2024, 09:00 PM
#16
Originally Posted By bsrkoacar2⏩
Yeah same. I know some wealthy people and they have multiple nice houses or condos in different states. I guess if work requires a lot of travel then maybe it would make sense to rent.
how wealthy? i'm thinking like $50-100m+ net worth where renting or owning is all the same. some of them that don't care and rent may decide to buy something that is just so special they could see themselves spending a lot of time there and know other wealthy people would want it…and not sell or rent it to them for basically any amount of money.
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08-11-2024, 10:04 PM
#17
Originally Posted By SmackSonPissIt⏩
I don't understand you sons. I'm over here thinking about the practicality of owning a home vs renting. Such as, you can add to the home, demo stuff up, redesign,etc. etc. and you're talking about FLEXING ? Sons…FLEXING, really? Are we 6 years old sons ? What the chit does flexing have to do with the piss of life sons? I guess i'm just too old to understand. I haven't tried to impress anyone in like 30 years, damnit of ass.
interesting
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08-11-2024, 10:49 PM
#18
Allegedly, they invest the difference
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08-11-2024, 10:49 PM
#19
It feels easier to simpletons. When they get evicted at 40 they realize they done goofed. As a landlord I encourage you to rent. It is cheaper for you and good for me. Please rent.

I won't evict you. Promise
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08-11-2024, 11:03 PM
#20
Originally Posted By AlwaysFocus⏩
It feels easier to simpletons. When they get evicted at 40 they realize they done goofed. As a landlord I encourage you to rent. It is cheaper for you and good for me. Please rent.

I won't evict you. Promise
i don't think the wealthy people that rent are worried about eviction. they can likely afford to buy the place they're living many times over.
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08-11-2024, 11:59 PM
#21
Some people rent by choice

OP and OliverHomeless are not among them though
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08-12-2024, 12:20 AM
#22
Originally Posted By Luc1fer⏩
Less baggage, simpler logistics, flexibility.
This, only wageslave 9 to 5's buy homes
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