But then there would be no roads to get to and from your home. Also, if you had an emergency, no way for an ambulance to get to you. Also, no police to call if someone tried to rob you. It's better with property taxes, but they charge too much. I pay 17k a year.

Uh I literally took out enough cash to pay off my home completely for my business but the place I took it out from had > 20% increase in stock value last few years running so no fukking thx.

And I guarantee you I'm not missing any mortgage payments. Have it setup to automatically come out of my passive income.

Ok so if you owe 100K on your house and you sell it for 200K that leaves you with 100K profit. But like you say OP you don't own it...

Property tax = no one owns a house except government

OP just got a 24 hour entry notice and is scrambling to clean his place, and hide his massive dildo collection.

such is life as a TennantOP

You pay 17k a year in property taxes?!?! Where the fuk do you live?

What the BOOM is with you and fukkin saying BOOM you hello kitty loving BOOM *******?














BOOM

it will definitely feel like you own it if it falls into negative equity and you need to sell it for whatever reason. otherwise it is just like renting, but you cover all repair costs.

NJ - state of corruption and highest property taxes in the US :

New Jersey: 2.31 percent.
Illinois: 2.13 percent.
Texas: 2.06 percent.
New Hampshire: 2.03 percent.
Vermont: 2.02 percent.
Connecticut: 2 percent.
Pennsylvania: 1.89 percent.
New York: 1.88 percent.

I can tell opie doesn't own a home or has even researched the topic. You are the worst poster this year without a doubt.

paid cash for my van CREW
live in it CREW
no property taxes CREW
down by the river CREW

I personally DO NOT CARE if you're a home owner. It's your home. Live in it. It's not like you're inviting me to parties/crash there. Good for you. Good for YOU.

Lmao why does the auditors website list me as owning the property i live at then brah? Lets see...i can either:

A) Rent, and be subject to rising rental rates, dealing with low income trashy people, and earn nothing on the money i send to the landlord each month
B) Own a home in a decent neighborhood, low crime, rising value in home i "don't own", then sell it in 5 years for a nice profit

The American Dream. For sure bro.

Holy fuk...that's fuking robbery.You don't really live in a van, do you? And if you do, it better be one of these

It is but our taxes off set the low income NJ areas -- we give money to them because many don't work or pay taxes there. Also, need to live close to NYC but want to live in a nice neighborhood where you can leave your Halloween decorations on the front lawn without them getting stolen. That's what it takes if you want those things. It sucks, though. You get little for your money. If you want a nice new house it is 1.2 million or more.

Unless you don't pay your school and property taxes.

10/10 thread. Really rustled some people with the truth.

Most people work and spend entirely based on their monthly paycheck, have no concept wealth, and act as if their time has no value whatsoever.
Many people take out a new mortgage in their 50s, to upgrade their house now that they've been working for 30 years - so that they can work for 30 more.

If you don't love going to work everyday, like 99.9999% of people, why do you do it? To pay your mortgage bill, car loan, etc. You don't own those things. They own you.

But being StrawHat94 makes you a homo-ner

True. In that case they'll take everything (the town will). Well, they might sell it, take the back taxes and give you what remains. Usually people who skip out like that don't have equity, though.

Everyone is saying this thread is terrible but it's at 4 pages.

LOL! Holy crap - wanted to rep you but I must spread the reps around.

This whole thread is IQ cancer


I hope OP is trolling cause that was ****ing moronic. If the deed is in your name, you own the home.

ItsAHmed you uncultured buffoon.

[QUOTE=badbl00d post_id=1523798621]You don't really live in a van, do you? And if you do, it better be one of these

[img]https://i.imgur.com/GII258r.jpg[img][/QUOTE]I wish. Hopefully some day soon I'll have the balls to actually do it.

youre right it doesn't op, but have fun saving cash while it devalues and property prices soar

love a good semantics trolling thread srsthe important thing to consider is that there is a massive quality of life difference between living in a house and sharing walls or having your ceiling be someone else's floor etc. that fukken sucks and only complete peasants suffer through that

now let's say you want to live in a house but rent it instead. in my neighborhood that means paying 2 times what i pay for mortgage, tax and insurance.

with only 40K left at 4.25%, i estimate i'll be done in 1.5 years

at that point i'll be at approximately 200 a month for property tax and insurance (increases slightly per year)

overall, not bad, considering that renters have to indirectly pay those anyway, plus rent

there's also the way in which nobody can give me 24 hours notice and then barge into my living space. your landlord can absolutely fukk with you constantly. plus your rent is ever-increasing and they can sell the property and force you out.

renting just isn't an option for someone who wants a high quality of life.


but yeah, true ownership of anything is an illusion. we could get all existential about it, but it simply doesn't matter. all that matters is how much freedom you have and what it takes to achieve that.

brah watched Fight Club and is now euphoric in his cope

i have a mortgage and i agree

Some strong comments.

Mostly apologies about the OP. We're not all as limited as he is across the pond in the UK.

Renting can make sense, especially those on strong salaries but the reality is in the UK rental income is paying two mortgages. Not all debt is 'bad' debt. Debt can be used wisely providing you know where you stand on your various agreements and know how you'll pay in current scenario and if you were to lose your main source of income.

My mortgage is £430 a month on a house I now rent out. My first house is now rented at £900 per month. The norm is over here if you have an agent worry about collecting the money and effectively the tenants calling them and not you when/if something goes wrong, it's 10% of the rent. You still have to pay for repairs unless the tenants caused the damage (also if not covered by Insurance). Over here many landlords do not allow pets or a lick of paint on the walls etc. They also often worry about filling the house with furniture. I went for the opposite; I allow tenants to have pets and to decorate how they like. I provide no furniture (unfurnished) apart from one built in wardrobe which suits the main room which was a former attic/loft. They see it as them getting a great deal; I see it that I am getting a better one:
- No damage to my furniture as it is theirs, a common issue between tenant/landlord
- By personalising it they will likely (hopefully) treat the house with more respect as they've made it feel like home.
- More likely long term so pay on time and less issues as they have filled the house with furniture they have paid for and decorated themselves through their time and money. Also more likely to renew as its not like they are just leaving, that is a lot of stuff to move, many homes for rent come with own furniture, now they have to sell all their furniture or shift it some place else?
- Pets, opens up to more tenants as by not allowing pets you're only cutting off potential tenants who have a cat, dog, goldfish... Seriously over here some are that ridiculous over totally harmless pets.

I now live in a flat (a nice one! Well in my opinion) which the mortgage is £460 per month. Once you take the agents tax for managing my house currently rented, the house rent is paying just below both mortgages but I do have a salary too which I can do as a I wish. I save some and some I use on overpayments. It has helped/allowed my house mortgage to go from 35 years (2.5 years ago) to being paid off inside 5 years. I could live like a hermit and do it in 2 or 3.

I've done nothing special. Just used debt in my opinion wisely. Both mortgages are repayments. NOT interest only which some people do, that can work for some but I prefer repayment. At the end of the terms I want to own both outright.

As for one accident = missed payments and the house(s) are no longer yours while is not completely incorrect; it is missing various chunks of common sense and logic. I put money aside every month for improvements/reserves. There is also very reasonably priced life insurances which include mortgage protection (often capped £1,500/£2000 per month) so there are always steps to take to protect yourself.

My aim is to have a third place and rent that. Once that much rent is coming in it can snowball, especially if equity is used (which I won't do personally).

If I rented the kind of house I want at 40. I'd never own it and would never be able to save alongside paying that much rent. I would be rent locked and truly fearful of losing my job. My current plans I'll at least have a mortgage on the home I want at 40. With a couple of properties (all going well), helping to pay it off as quickly as possible.

I am not an Ahmed or an Ackmhed.