Reminder: if you are paying a mortgage, you dont "own the house"

12-14-2021, 08:40 AM

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#31

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12-14-2021, 08:41 AM

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#32

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12-14-2021, 08:41 AM

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#33

donblaximus
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There are pros and cons to both owning and renting. The information is easily accessible on the web. No need to hash out all the details but it should be a fairly easy decision based on where you are in life.

Its not as simple as "this is better for everyone vs that" Not one of those things that are definitive.

12-14-2021, 08:43 AM

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#34

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OP is just mad because in a thread I told nbnb that I pay a mortgage for a house vs. his condo, and OP had to clarify I don't own the house.

Sorry OP that I was called on a technicality.

lmao

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12-14-2021, 08:44 AM

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#35

fishnbrah
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Originally Posted By nielk⏩

if you pay a mortgage: you dont own a home

if you lease a car: you dont own it

A lease, no you don’t that’s basically a rental.

12-14-2021, 08:44 AM

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#36

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Originally Posted By JuicedMayhem⏩

If you’re house will be taken away if you stop paying property taxes you don’t own a house.....

then why do they give me the $ when I sell it?

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12-14-2021, 08:45 AM

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#37

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12-14-2021, 08:46 AM

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#38

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12-14-2021, 08:46 AM

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#39

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i can confirm, i am house

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12-14-2021, 08:48 AM

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#40

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Originally Posted By ymer⏩

See my post above

so why don’t they give the equity to the landlord when the property, I don’t own, is sold?

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12-14-2021, 08:50 AM

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#41

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Originally Posted By Bracket199⏩

OP is just mad because in a thread I told nbnb that I pay a mortgage for a house vs. his condo, and OP had to clarify I don't own the house.

Sorry OP that I was called on a technicality.

lmao

Condos are actually worse because you also pay condo fees for essentially nothing except fixing major stuff for the building when it breaks. Which is kind of like paying your landlord an extra $100 a month for when the furnace breaks down. AND you pay property taxes on top of that.

12-14-2021, 08:50 AM

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#42

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Rent is like burning money lmao. I’ve made 300k the last 5 years buying and upgrading houses that I lived in. You can’t do that renting. You’re destroying you wealth. Good luck with your 3000 dollars per month apartment in 10 years. My ex pays 2100 dollars per month for a 2 bed room 1200 square feet apartment. I pay 2300 per month for a 2400 square feet Single Family house and I’m building equity for when I sale.

12-14-2021, 08:51 AM

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#43

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12-14-2021, 08:53 AM

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#44

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Originally Posted By ymer⏩

You are selling the lease.

that’s a very generous landlord , letting me keep these 100s of thousands of dollars

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12-14-2021, 08:53 AM

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#45

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Originally Posted By donblaximus⏩

There are pros and cons to both owning and renting.

I used to rent an apartment downtown; so I would say the biggest pro was calling building management if something was broken.

12-14-2021, 08:58 AM

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#46

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GOAT option is having the coin to pay off your house in an investment account making enough money monthly to pay your mortgage.

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12-14-2021, 08:59 AM

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#47

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12-14-2021, 09:02 AM

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#48

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Mortgagecels only get scammed if they live in it and don't rent it out. You gotta get other people to pay for your mortgage.

12-14-2021, 09:06 AM

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#49

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Originally Posted By Destor⏩

What if you have the cash to pay off the house but sit on the mortgage anyways because interest rates are so low and paying it off early doesn't make sense

This man gets it.

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12-14-2021, 09:07 AM

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#50

davik
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the concept of ownership is dumb. you dont really own anything, everything is borrowed.

12-14-2021, 09:09 AM

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#51

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John Malone owns 2.2 million acres of land in the United States.

But he doesn't really own it because they'd take if he didn't pay his property taxes.

Someone better call John and let him know.

12-14-2021, 09:11 AM

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#52

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I think we should allow the renters a little cope. Houses in some parts of the country have doubled in the last 18 months, pricing is out of control and still on a rocket ride.

There's an entire class of people having their landlords boot them out so they can 'move in', slap two coats of egshell on the baseboards, then move out and rent for double. Its going to be tough sledding for these folks.

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12-14-2021, 09:13 AM

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#53

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Nice thread to rustle some jimmies

Not mine tho

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12-14-2021, 09:14 AM

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#54

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agree. I always cringe when people brag about "owning" a house but have a mortgage. Nothing wrong with needing a loan, just don't act like it's totally yours until fully paid off.

12-14-2021, 09:20 AM

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#55

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Lol @ rentcel cope.

The concept of equity does not exist for them.

You don’t get a mortgage to own a “home”.

You do it so that you’re not throwing your money away and building someone else equity

12-14-2021, 09:21 AM

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#56

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There's pros/cons to renting vs owning.

Is this the new Tradie vs STEM war?!

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12-14-2021, 09:23 AM

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#57

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Originally Posted By sword_⏩

There's pros/cons to renting vs owning.

Is this the new Tradie vs STEM war?!

This war is old as time, bub.

12-14-2021, 09:30 AM

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#58

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12-14-2021, 09:33 AM

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#59

Jestbrah
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its absolutely a terrible thing I made more than your salary, probably more than 2 years salary on my equity alone this year(140k)

tell me again how bad of a decision I made buying a house?