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Forum » Owning > Renting your home. Changed my mind.
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Thread: Owning > Renting your home. Changed my mind.

post 1559201331 08-19-2018, 09:56 PM
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Originally Posted By RightKindaGuy⏩
Rather rent multiple places than be tied down with a 25 year mortgage rotting away in some desolate area.

Thanks anyways though
This

I have lived in 5 different places since I graduated college....
post 1559201391 08-19-2018, 09:56 PM
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#92
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Its true, renters are copers or just too poor
post 1559201421 08-19-2018, 09:57 PM
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Originally Posted By ErnieMccracken⏩
TFW when you own in one of the most competitive neighborhoods anywhere. Takes the sting out of paying for that new roof, I guess. I'll sell it for $1M srs. Buy me out and I'm moving into that Asian kid's trailer.

https://www.redfin.com/blog/2017/12/...omebuyers.html
more like "Tfw homeowner in Seattle"
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Et demain toi et moi serons partis
post 1559201641 08-19-2018, 09:59 PM
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Originally Posted By VTheKing⏩
more like "Tfw homeowner in Seattle"
People think it's all hipsters, but really it's wealthy Chinese....notcriminals and stemcels as far as the eye can see. No such thing as a mortgage they think is too high.
post 1559202351 08-19-2018, 10:11 PM
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For average person....owning.

If you're making huge gains off investments and it offsets the rent cost so you would rather place all money there, than rent.
post 1559207151 08-20-2018, 12:03 AM
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Originally Posted By RightKindaGuy⏩
Rather rent multiple places than be tied down with a 25 year mortgage rotting away in some desolate area.

Thanks anyways though
Lol how bad is the housing market over there? I just sell and buy a new house if I need to move.
post 1559208021 08-20-2018, 12:32 AM
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Nice bro

Owning v renting is really not that complicated

On pure financials if your goal is to maximize your net worth over some timeline then it's a no-brainer and you rent the cheapest place you can tolerate

As soon as emotion comes into it you might like to buy a house (the whole "it feels good to own it" thing).

Just be aware that in places with property taxes and "eminent domain" style legislation ownership of property is nominal only

Also be aware that if you have a loan for 90% of the price of the property and the bank has a lien over it, you don't own it
Natty poverty maintenance crew

Actual economist crew

Austrian school crew
post 1559208351 08-20-2018, 12:41 AM
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Originally Posted By HockeyBacon18⏩
im confused OP


probably 90% of the posters here will confirm your belief that owning>renting

BRB pay less per month for a mortgage that will increase your capital gains as property almost always increases in value

vs

pay rent and flush that money down the toilet never to be seen again
Especially if you're renting a house from someone else who's just paying his mortgage, taxes, and whatever utilities you end up using at his place with your rent money. At the end of a 1 year lease you ultimately end up with nothing while he has 1 year of the mortgage paid off, plus the property went up in value.

Renting is necessary when saving up capital for an eventual down payment and mortgage but just lol at renting forever. Same people that work past retirement age?
Walt Disney lied to us
5% Whatever it takes
post 1559208441 08-20-2018, 12:45 AM
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lol there are no cons to owning, it's just idiotic to think so. If you don't want to be tied down what you do is rent out your rooms so your house turns a profit while you live on the money and travel. Renting accomodation is a waste of money there's a reason parents tell you to get on the property ladder asap.
post 1559208751 08-20-2018, 12:59 AM
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I want to see one high net worth person here on the misc that rents lol
post 1559209751 08-20-2018, 01:40 AM
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I can't wait to buy a house. Too bad the market is horrible for first time buyers right now. Wat do?
post 1559209811 08-20-2018, 01:44 AM
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the market is always bad for broke people
post 1559209941 08-20-2018, 01:52 AM
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#103
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Am poverty, bought house on interest only mortgage back when povs were allowed to buy houses (pre subprime crisis)
Lived in house 18 years. Could only afford completely essential maintenance. House is now in need of serious updating which i cant afford and can't get remortgage now. Cannot actually bear to live in house anymore. Just sold house for double what i bought it for. Not bad but still owe ££ for the house so cant buy another house in same area.
Renting is a different type of stress im already finding out.

Brb professionals only
brb no pets
brb no smokers
brb no eating or drinking as may cause damage jk
brb need 900 credit rating to rent chit hole in worst part of city
Brb when you leave charging £400 for cleaning one cobweb

But owning if you cant really afford it is also stress
retired from powerlifting, retired from the misc
post 1559210451 08-20-2018, 02:28 AM
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A whole lotta cope in this thread lol. The only way someone can cash in their house equity gains right now is by moving. Otherwise you are just selling your pos to buy another pos. This is why there is a massive lack of supply. People intuitively know this and aren't gonna get locked in a dumb game. Housing prices are bound to the wages in the area over the long haul. They barely beat inflation. Anyone who buys a home and simply lives in it should know it is an awful investment.
post 1559211151 08-20-2018, 03:16 AM
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People who rent are mentally ill.

brb just got new mortgage rate
brb 2.15%
brb £280 per month mortgage (put down 120k)
brb 4 bedroom detached property
fist yourself
post 1559211211 08-20-2018, 03:22 AM
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Close but not quite, op.

Best thing I’ve found is to have other people renting homes that I own.
post 1559211531 08-20-2018, 03:35 AM
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Anyone who rents is pure coping - UNLESS they have some job that forces them to move internationally at a a moments notice.


Brb floating around on my swimming pool with a gin&tonic at 10:35am because the mortgage is paid off.
post 1559212091 08-20-2018, 04:01 AM
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thx for buying the overpriced garbage off my hands op, i'll buy it back from u on sale in a few years
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post 1559212601 08-20-2018, 04:19 AM
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Originally Posted By RightKindaGuy⏩
Rather rent multiple places than be tied down with a 25 year mortgage rotting away in some desolate area.

Thanks anyways though
You know you can sell the house, take the equity, and use it as a down payment on a new house right?
Originally Posted By r32gojirra⏩
Close but not quite, op.

Best thing I’ve found is to have other people renting homes that I own.
This guy gets it. My house is in a great rental market and I can’t wait to buy a new one and rent out my current one. The rent I could get for it is at least 50%-100% above what my mortgage costs.
And relief washes over me in an awesome wave
post 1559213421 08-20-2018, 04:44 AM
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#110
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Originally Posted By northernlights7⏩
Yeah there are more maintenance fees with owning a house. But at least that way you don't have to live with having a paper thin wall separating you from some idiot neighbors next to you.
Not all houses are fully detached - making this point for parts of the world where lots of housing is in the 'townhouse' form, and yeah - then dumb neighbors can be a problem.

But having said that who remembers the thread on the Misc a few months ago with someone raging because his neighbor kept parking close to his driveway? Dumb neighbors are a problem everywhere - just moreso in some places than others. And yeah, a fully detached well constructed house with land around it in every direction in an area in high demand (i.e., not out in the 'desolate area' some people refer to, though they don't know what 'desolate' means apparently) then..yeah. Worth a lot of money.
Originally Posted By MattyMiscer⏩
The rent I could get for it is at least 50%-100% above what my mortgage costs.
Right. I can rent out one of my properties for about 200% of the mortgage cost for it. And I will be doing that in the nearish future. I travel a lot for work and have lived in different places and people who act like they are 'free' because they never bought a place and rent all over the place are simply delusional.

If you're able to rent a 3 million dollar house for 500 dollars a month, go you - some of the posts in this thread make it sound like property value and rental price have no bearing on one another at all, lol.
post 1559213631 08-20-2018, 04:50 AM
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Originally Posted By BustaCapp⏩
People who rent are mentally ill.

brb just got new mortgage rate
brb 2.15%
brb £280 per month mortgage (put down 120k)
brb 4 bedroom detached property
What about those of us who aren’t named Fanny and Bertie, and live outside of the Enchanted Wood?
worse things happen at sea
post 1559213741 08-20-2018, 04:54 AM
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#112
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Originally Posted By Jasonw1178⏩
I used to be one of those that said there were pro's and con's to owning a home or renting a home. Recently bought a house after years of renting after owning and have changed my mind. My "sometimes renting is a better choice" was pure cope. There are a few conditions where it might be better, but 9 times out of 10 it's better to own. Even if it's a garbage house you paid too much for in a slum off MLK Blvd and you are paying high interest with PMI and all that, still better. At least it's yours. It's not even about the fact that you are burning all of your money it's about living your life. As long as you pay your mortgage and abide by the simple rules such as keeping insurance and paying your taxes, you can live you life and your mortgage company will leave you alone. With renting, it's all these little rules and fees. Front office needing this and that. Just no. Pet deposits and pet rent, telling you what pets you can have, and that's just the start. Where I lived was a nice apartment complex, and the maintenance people were some of the best people I've met but still, having a notice that they were coming by to do something was a violation of my privacy. If this place burnt to the ground I'd just put a tent up and live on the ruins before going to another apartment. If you are not in a position to own a home, I'd say work on getting in that position because you'll be glad you did.
Unless you buy a home with an HOA. Then its all those same little rules and fees for not doing what your told in your own home. Otherwise agreed.
post 1559213751 08-20-2018, 04:54 AM
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#113
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Originally Posted By wagtail⏩
What about those of us who aren’t named Fanny and Bertie, and live outside of the Enchanted Wood?
Can anyone translate this for me?
fist yourself
post 1559214081 08-20-2018, 05:03 AM
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#114
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Originally Posted By BustaCapp⏩
Can anyone translate this for me?
He's trying to say 'I won't tell you where I'm from but where I'm from the interest rates are much higher than that, the property prices too, so nobody can buy in with what you put up' hence his implication that you live in fantasy land.

But he's like those pukes (the 25 year old NYU grads) that think graduating from NYU entitles someone to live in Manhattan etc. They just don't understand that location...location...location. And the entire world isn't 'downtown'.

Would love me a palatial estate in Essex...landed...boyo
post 1559214341 08-20-2018, 05:13 AM
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#115
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Originally Posted By Aristotelian⏩
He's trying to say 'I won't tell you where I'm from but where I'm from the interest rates are much higher than that, the property prices too, so nobody can buy in with what you put up' hence his implication that you live in fantasy land.

But he's like those pukes (the 25 year old NYU grads) that think graduating from NYU entitles someone to live in Manhattan etc. They just don't understand that location...location...location. And the entire world isn't 'downtown'.

Would love me a palatial estate in Essex...landed...boyo
Ah right.

I'd have got an even better interest rate if I'd have renewed a couple of months ago.

Base rate went from 0.5% to 0.75% this month.
fist yourself
post 1559214591 08-20-2018, 05:20 AM
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#116
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Originally Posted By BustaCapp⏩
People who rent are mentally ill.

brb just got new mortgage rate
brb 2.15%
brb £280 per month mortgage (put down 120k)
brb 4 bedroom detached property
Did you just buy this house?
RIP if you just bought a house
Prices are about to go down
Sold my house rn cos of this
retired from powerlifting, retired from the misc
post 1559214621 08-20-2018, 05:21 AM
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#117
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Originally Posted By melDorado⏩
Did you just buy this house?
RIP if you just bought a house
Prices are about to go down
Sold my house rn cos of this
Nope - bought it 5yrs ago.

You sold your house because the prices are about to go down?

Nice reason to make your dog homeless.
fist yourself
post 1559214711 08-20-2018, 05:25 AM
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#118
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My dog is not going to be homeless I viewed a house this morning that allows dogs.

I sold it because interest only mortgage but i sold it right now because yes prices wont rise anymore in the short term
retired from powerlifting, retired from the misc
post 1559214941 08-20-2018, 05:31 AM
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#119
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Originally Posted By melDorado⏩
My dog is not going to be homeless I viewed a house this morning that allows dogs.

I sold it because interest only mortgage but i sold it right now because yes prices wont rise anymore in the short term
Urine idiot.

So now you'll be paying more to rent some chithole than what it would for straight mortgage repayments.

And not to mention the ball ache that comes with moving.

I suppose your landlord will appreciate the pension you provide for him though.
fist yourself
post 1559215591 08-20-2018, 05:51 AM
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#120
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Originally Posted By BustaCapp⏩
Urine idiot.

So now you'll be paying more to rent some chithole than what it would for straight mortgage repayments.

And not to mention the ball ache that comes with moving.

I suppose your landlord will appreciate the pension you provide for him though.
I dont earn enough to get a remortgage on my house because dont live in a smack filled poverty northern city with property prices of piss like you do.
retired from powerlifting, retired from the misc
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