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Forum » Why would someone choose to rent? isn't that essential choosing to be a slave
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Thread: Why would someone choose to rent? isn't that essential choosing to be a slave

post 1658407433 03-22-2022, 09:57 PM
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Why would someone choose to rent? isn't that essential choosing to be a slave



mirrin this landlord hard

lol @ rentcels
post 1658407693 03-22-2022, 10:03 PM
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Rent me a room bro (srs)
post 1658407793 03-22-2022, 10:05 PM
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post 1658407863 03-22-2022, 10:08 PM
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Renter here, not particularly proud of it but that's the way it'll be for years at least, mostly by choice though, wanna try living in multiple areas and it's easier to do that without owning anything.

There's some interesting formulas out there that can actually help people determine if a given rent situation is more or less financially intelligent than a mortgage situation. Including some that take into account real estate agent fees, property taxes, appreciation of the house, maintenance upkeep costs, money shoved into a house Vs. it being invested for 10%+ gains, etc.

There's no one-size-fits-all answer to "should you rent or buy," but between the two, buying is the only one that can ultimately result in zero mortgage/rent despite the other fees and things.
post 1658408193 03-22-2022, 10:19 PM
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Originally Posted By Visel⏩
Renter here, not particularly proud of it but that's the way it'll be for years at least, mostly by choice though, wanna try living in multiple areas and it's easier to do that without owning anything.

There's some interesting formulas out there that can actually help people determine if a given rent situation is more or less financially intelligent than a mortgage situation. Including some that take into account real estate agent fees, property taxes, appreciation of the house, maintenance upkeep costs, money shoved into a house Vs. it being invested for 10%+ gains, etc.

There's no one-size-fits-all answer to "should you rent or buy," but between the two, buying is the only one that can ultimately result in zero mortgage/rent despite the other fees and things.
lmao
post 1658408233 03-22-2022, 10:22 PM
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Because no bank is going to approve a mortgage of someone with 60k in student debt and a 580 credit score. If you are young and just establishing your credit what other choice do you have? If you are old and made terrible life decisions ruining your credit, what other choice do you have. Also people see a 25 year commitment in a mortgage as a big deal
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post 1658408253 03-22-2022, 10:24 PM
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Maybe because people want to live in desirable cities which consequently have high COL and not waste their 20s in flyover states like Iowa, Nebraska or Missouri.
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On how they raped the continents, and it's the prominent /
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post 1658408323 03-22-2022, 10:25 PM
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Originally Posted By sword_⏩
Maybe because people want to live in desirable cities which consequently have high COL and not waste their 20s in flyover states like Iowa, Nebraska or Missouri.
this u brah?

post 1658408453 03-22-2022, 10:29 PM
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Originally Posted By Azrairc⏩
this u brah?

LMAO that is funny.
A hit was sent, from the President, to raid your residence /
Because you had secret evidence, and documents /
On how they raped the continents, and it's the prominent /
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post 1658408533 03-22-2022, 10:32 PM
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Originally Posted By r32gojirra⏩
That's quite harsh, but business is business.
Originally Posted By Visel⏩
Renter here, not particularly proud of it but that's the way it'll be for years at least, mostly by choice though, wanna try living in multiple areas and it's easier to do that without owning anything.

There's some interesting formulas out there that can actually help people determine if a given rent situation is more or less financially intelligent than a mortgage situation. Including some that take into account real estate agent fees, property taxes, appreciation of the house, maintenance upkeep costs, money shoved into a house Vs. it being invested for 10%+ gains, etc.

There's no one-size-fits-all answer to "should you rent or buy," but between the two, buying is the only one that can ultimately result in zero mortgage/rent despite the other fees and things.
This is cope, property taxes, agent fees, maintenance, and everything else is rolled into your rent. There is never a situation where you paying someone else's mortgage instead of your own is a good idea.
Originally Posted By Ramoneb87⏩
Because no bank is going to approve a mortgage of someone with 60k in student debt and a 580 credit score. If you are young and just establishing your credit what other choice do you have? If you are old and made terrible life decisions ruining your credit, what other choice do you have. Also people see a 25 year commitment in a mortgage as a big deal
So what are you gonna do? Wait for daddy government to come save you? I bought my first house with my wife in the DC metropolitan area when we were making $12 an hour and $16 an hour respectively. That first house has gone up in value about $180k, and is now rented to someone who thinks like you.
Originally Posted By sword_⏩
Maybe because people want to live in desirable cities which consequently have high COL and not waste their 20s in flyover states like Iowa, Nebraska or Missouri.
Read above.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1658408623 03-22-2022, 10:37 PM
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I don't understand why anyone would want to rent long term. Especially with all this inflation, you renters are gonna get priced out of the market and you'll be trapped renting forever. You will own nothing and be happy. Is that what you want?
post 1658408823 03-22-2022, 10:42 PM
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Originally Posted By Godfrd824⏩
That's quite harsh, but business is business.

This is cope, property taxes, agent fees, maintenance, and everything else is rolled into your rent. There is never a situation where you paying someone else's mortgage instead of your own is a good idea.

So what are you gonna do? Wait for daddy government to come save you? I bought my first house with my wife in the DC metropolitan area when we were making $12 an hour and $16 an hour respectively. That first house has gone up in value about $180k, and is now rented to someone who thinks like you.

Read above.
Rent isn't long term. I totally get that and not against renting. My GF bought a home late last year but I wasn't sure if property was going to go up or we were going to have a breather with the prices.

I see these rent vs buying posts constantly on here and people rent for different reasons compared to buying. There's no clear cut or linear answer to acquire wealth.

I could have purchased property in San Antonio when I lived there but I abhorred living there and wanted to leave ASAP. Probably could have gotten something and gotten some equity though.

Lesson learned, but other strategies of mine like moving for other career opportunities, aggressively investing and saving, etc has helped increase my net worth so it wasn't all that bad.
A hit was sent, from the President, to raid your residence /
Because you had secret evidence, and documents /
On how they raped the continents, and it's the prominent /
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post 1658408853 03-22-2022, 10:43 PM
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Originally Posted By Ramoneb87⏩
Because no bank is going to approve a mortgage of someone with 60k in student debt and a 580 credit score. If you are young and just establishing your credit what other choice do you have? If you are old and made terrible life decisions ruining your credit, what other choice do you have. Alsopeople see a 25 year commitment in a mortgage as a big deal
Just get a 15 year mortgage instead. problem solved.
Originally Posted By sword_⏩
Maybe because people want to live in desirable cities which consequently have high COL and not waste their 20s in flyover states like Iowa, Nebraska or Missouri.
Just buy something in a desirable high COL city. Not that hard.
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post 1658408933 03-22-2022, 10:46 PM
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Originally Posted By RobParks2M⏩
Just buy something in a desirable high COL city. Not that hard.
I'll get property in 2022 boyo.

But I don't get the constant rent shaming on here.
A hit was sent, from the President, to raid your residence /
Because you had secret evidence, and documents /
On how they raped the continents, and it's the prominent /
Dominant Islamic, Asiatic Black Hebrew

- GZA "4th Chamber"
post 1658408963 03-22-2022, 10:47 PM
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Don’t worry boyos property market is crashing THIS WEEK

All rentcels will be able to buy several houses of their own at massively discounted prices!!!



Originally Posted By sword_⏩
I'll get property in 2022 boyo.

But I don't get the constant rent shaming on here.
Pro tip: houses are cheaper if you build them in bulk
post 1658409183 03-22-2022, 10:53 PM
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Originally Posted By r32gojirra⏩
Don’t worry boyos property market is crashing THIS WEEK

All rentcels will be able to buy several houses of their own at massively discounted prices!!!



I mean interest rates just went up pretty high today. You are paying an average of $350 more per month than if you got a house last year because of the interest

problem is supply is so low...
post 1658409333 03-22-2022, 10:55 PM
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Originally Posted By Azrairc⏩
I mean interest rates just went up pretty high today. You are paying an average of $350 more per month than if you got a house last year because of the interest

problem is supply is so low...
Luckily you are paying using dollars that are worth significantly less than they were last year!

Rentcels win again!
post 1658409363 03-22-2022, 10:56 PM
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Most probably rent because they can’t afford to buy, but tons of young professionals rent because they don’t want any commitments and want to move of better opportunities come up.

Personally speaking, I can easily move, but I chose to rent a house so far, so in case I want to change my jobs, I’d just pack up and move my family. Employers take advantage of you if they know you have bought a place and settled down. With that being said, I’ll probably buy a place in a year or two with the third child on the way.
post 1658409433 03-22-2022, 10:59 PM
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Originally Posted By sam212⏩
Most probably rent because they can’t afford to buy, but tons of young professionals rent because they don’t want any commitments and want to move of better opportunities come up.

Personally speaking, I can easily move, but I chose to rent a house so far, so in case I want to change my jobs, I’d just pack up and move my family. Employers take advantage of you if they know you have bought a place and settled down. With that being said, I’ll probably buy a place in a year or two with the third child on the way.
Yeah true once you buy a house you’re trapped there forever

it’s not like you could
a) sell the house for a massive profit or
b) rent it out to some schmuck for a massive profit
post 1658409473 03-22-2022, 11:00 PM
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Still a slave to the bank with a mortgage

Just a slave with an asset
See natypes sig
post 1658409543 03-22-2022, 11:03 PM
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Originally Posted By r32gojirra⏩
Yeah true once you buy a house you’re trapped there forever

it’s not like you could
a) sell the house for a massive profit or
b) rent it out to some schmuck for a massive profit
Valid points, but all of that takes quite a bit of work, leaving your contract just takes a minute of phone call and at worse, couple of months of rent. Also, will likely buy a place between 800k-1.2. Not a lot of people in that market to buy or rent.

I’m saving money paying 2400/ month for the house honestly.
post 1658409593 03-22-2022, 11:05 PM
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Originally Posted By AK1615⏩
Still a slave to the bank with a mortgage

Just a slave with an asset
This is why I'm hoping rates SPIKE to insane rates. Gonna pick up my second property in all cash but I'm competing with too many mortagecels now jacking up the prices by overextending themselves
post 1658409683 03-22-2022, 11:08 PM
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I rent my parents’ place for cheap and nothing about it makes me feel like a slave

I feel like a slave to work, but that’s a separate issue
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post 1658409703 03-22-2022, 11:08 PM
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Because I can make 150k in the city self employed (can't find a house for under 1m here) or 50-60k wageslaving in the sticks where a house is actually within my budget. Saving for a down payment on a house & new business in the sticks rn srs hoping to bet the best of both worlds. Should only be another 5 years then I will relocate and be a mortgagecel.
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post 1658411153 03-23-2022, 12:10 AM
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Originally Posted By AK1615⏩
Still a slave to the bank with a mortgage

Just a slave with an asset
You realise that borrowing money is not a requirement to buy a house right

In fact most sellers strongly prefer all-cash buyers
post 1658411183 03-23-2022, 12:13 AM
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Originally Posted By r32gojirra⏩
You realise that borrowing money is not a requirement to buy a house right

In fact most sellers strongly prefer all-cash buyers
I bought my car outright but how the fuk would the average person buy a house outright
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post 1658411353 03-23-2022, 12:28 AM
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Originally Posted By Visel⏩
Renter here, not particularly proud of it but that's the way it'll be for years at least, mostly by choice though, wanna try living in multiple areas and it's easier to do that without owning anything.

There's some interesting formulas out there that can actually help people determine if a given rent situation is more or less financially intelligent than a mortgage situation. Including some that take into account real estate agent fees, property taxes, appreciation of the house, maintenance upkeep costs, money shoved into a house Vs. it being invested for 10%+ gains, etc.

There's no one-size-fits-all answer to "should you rent or buy," but between the two, buying is the only one that can ultimately result in zero mortgage/rent despite the other fees and things.
Instead of building that PC, you could have a had a down payment
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post 1658411813 03-23-2022, 01:01 AM
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Originally Posted By Ironface⏩
I bought my car outright but how the fuk would the average person buy a house outright
Use the accumulated capital gains from previous sales to fund the purchase

That’s how I do it

Also many people just pay out the loan

Australia has some of the most expensive real estate in the world

Historically it’s around 1/3 renting from a landlord, 1/3 renting from a bank, 1/3 owning

Point is not everyone has a loan on their property
post 1658412033 03-23-2022, 01:18 AM
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I know tradies making 300-400k a year in California.
They pay a relatively small amount per month for a place.
The property taxes alone are higher than what they pay in rent.

Inb4 the inevitable "but the prices of property are going to go up over time so they are losing money"
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post 1658415053 03-23-2022, 04:29 AM
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Originally Posted By Anachron⏩
Contrary to what the current misc consensus seems to be, most people don't choose to rent in order to put the difference in index funds...

They simply do not have a choice.
U wot m8



Renting is an expensive lifestyle choice but a choice nonetheless
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