Owning > Renting your home. Changed my mind.

08-19-2018, 02:44 PM

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#1

Jasonw1178
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Owning > Renting your home. Changed my mind.

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.

08-19-2018, 02:50 PM

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#2

RightKindaGuy
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Rather rent multiple places than be tied down with a 25 year mortgage rotting away in some desolate area.

Thanks anyways though

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08-19-2018, 02:52 PM

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#3

potbellymadar
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Originally Posted By ohreaIIy⏩

brb 800$ a month with heat and water included
brb 1300$ a month + utilities

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08-19-2018, 02:58 PM

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#4

Azn00Superman
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I agree with u OP but there are pros and cons.

If you own a house, unless its newly built the house probably had at least couple decades behind it. Which means maintenance, wear and tear repair. A pipe burst in the plumbing system can cost a lot of fuking money to fix and if you dont have money u cant really afford to wait it out, cuz longer wait = more damage = more costs of repairs. Same with heating and AC system unless u got some kind of insurance to cover them. Same goes with the roof. City code enforcement can drive around, sees ur roof or ur yard or ur fence and decide its not up to city code and give you a fine and a deadline to fix. If you fail that deadline due to lack of money or time, the fine gets bigger.
In an apartment most issues are a simple phone call away, and it costs you nothing.

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08-19-2018, 03:00 PM

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#5

MarusDod
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Where I live, you have to pay too many taxes if you own property.

Better off renting

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08-19-2018, 03:00 PM

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#6

HockeyBacon18
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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

Keep mod discussions out of your sig line

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08-19-2018, 03:02 PM

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#7

hotsaucebrah
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Would rather invest that down payment in the market. And you don't own the house, the bank does. After you pay your mortgage off, don't pay the taxes for a few years. The real owners will then show up.

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08-19-2018, 03:07 PM

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#8

TreFo
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u also stand to use that as collateral for credit loans and can potentially profit off of simple appreication considering population boom

rent is better if ur at that point in ur life where u have to go to Point B from Point A to end up at Point C where u can build a lifestyle centered on, thats when u buy

08-19-2018, 03:08 PM

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#9

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Hnnnng that feel of having my mortgage just about paid off to my primary home. Renting is soo crappy brb , throw your money away versus actually owning property. Of course there is going to be maintenance but if you have zero handyman skills (like the kind of *******s that can’t even change a flat tire) then you deserve to rot anyway/

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08-19-2018, 03:11 PM

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#10

vulgoo

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Try not paying your property tax op

08-19-2018, 03:19 PM

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#11

Hammersia
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Same old story really. Every two years an OP says renting is better than owning. Me, Hammersia, advises OP they are wrong and explains with crystal clear clarity why. OP realises two years later that Hammersia was right and apologises. Cheers.

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08-19-2018, 03:25 PM

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#12

JustJones
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Any money you saved not renting is used trying to own

brb 15k roof and 5k driveway repairs or house insurance eating up and savings

Just paying for the gas to fill the lawnmower would make owning more expensive

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08-19-2018, 03:28 PM

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#13

ErnieMccracken

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Owning is really alpha until you need a new roof, new floors, new heat and A/C, new landscaping, new fireplace, new appliances, new siding, and new paint. Ask me how I know! Fuarrrrk.

Still better though. My place has doubled in value since 2013.

08-19-2018, 03:32 PM

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#14

Cammy91
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Originally Posted By ErnieMccracken⏩

Owning is really alpha until you need a new roof, new floors, new heat and A/C, new landscaping, new fireplace, new appliances, new siding, and new paint. Ask me how I know! Fuarrrrk.

Still better though. My place has doubled in value since 2013.

Regardless, my opinion on it is whatever your paying into the mortgage a month, IF you sell - you'll see most of that money back (sometimes allot more as you say), renting is just lining the pockets paying off someones buy-to-let mortgage which you'll never see any return on.

08-19-2018, 03:32 PM

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#15

wisdommaster1
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hopefully next we can change your mind that paragraphs > 1 block of text

08-19-2018, 03:34 PM

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#16

HairyCrotchGuy
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Originally Posted By JustJones⏩

Any money you saved not renting is used trying to own

brb 15k roof and 5k driveway repairs or house insurance eating up and savings

Just paying for the gas to fill the lawnmower would make owning more expensive

No because after 20 years you have an asset that is worth 500k

When you're renting after 20 years you probably have nothing

08-19-2018, 03:35 PM

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#17

harmsxwhey
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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

Then don’t buy a house in a desolate area, *******.

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08-19-2018, 03:36 PM

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#18

mkx1775
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Fkn LOL if you don't have multiple properties and renting them to some rentcells.

BRB charging them for rent that's way more than my mortgage.

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08-19-2018, 03:37 PM

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#19

ErnieMccracken

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Originally Posted By HairyCrotchGuy⏩

When you're renting after 20 years you probably have nothing

No because these guys are all investing that difference with ruthless discipline and seeing consistent 10% YoY gains, right? You think they'd blow it on a $50k truck or Creed Aventus or some chit?

That must be why there are so many millionaires living in apartment complexes.

08-19-2018, 03:38 PM

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#20

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as someone who sells real estate for a living, i can tell you without a doubt there are times when renting is better than buying.

is it a small list? yes

no shortage of retarded misc responses in here tho

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08-19-2018, 03:39 PM

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#21

exxtracool
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that largely depends on the specific property and the market..

if you have a better investment, then it makes no sense to tie up capital in a house.

08-19-2018, 03:40 PM

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#22

ErnieMccracken

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Originally Posted By ~Hades~⏩

as someone who sells real estate for a living, i can tell you without a doubt there are times when renting is better than buying.

is it a small list? yes

What are those times? In Seattle, it's like $2k to rent a place that would sell for $1M+.

08-19-2018, 03:40 PM

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#23

ScottTil
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if you are young and not certain where you will be living or working in 5 years, it's better to rent most likely.
Also been seeing people struggling to sell in my area. Maine is not growing in certain areas and I would be hesitant to buy.

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08-19-2018, 03:41 PM

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#24

NeedToBang
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I'd like to rent my own home and own houses that i rent out, the primary home you live in is kinda useless it doesn't make you any money. It's just a dick measuring contest.

08-19-2018, 03:44 PM

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#25

ErnieMccracken

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Originally Posted By ScottTil⏩

if you are young and not certain where you will be living or working in 5 years, it's better to rent most likely.
Also been seeing people struggling to sell in my area.Maine is not growing in certain areas and I would be hesitant to buy.

Wtf? This is the first I've heard of anyone struggling to sell. Most properties seem to have multiple offers the first day they hit the market. In my area, sellers are doing crazy chit like making the buyers pay all the taxes, closing costs, everything. My friend's property had 3 offers before it even hit the market, just through word of mouth.

08-19-2018, 03:44 PM

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#26

PisseninMisc
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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.

In this thread OP confirms that he lives in some chithole in the slums off MLK blvd after agreeing to high interest and not having enough money down to avoid PMI. Owning a home is better than renting 90% of the time, but you did it wrong brah. If you can't afford to buy a place in a decent neighborhood, you buy the chithole and rent it to others as an investment and make a couple of hundred on top while renting in a better neighborhood.

Just fukin lmao at living in the hood just because that's the only place you could afford.

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08-19-2018, 03:45 PM

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#27

ScottTil
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Originally Posted By ErnieMccracken⏩

Wtf? This is the first I've heard of anyone struggling to sell. Most properties seem to have multiple offers the first day they hit the market. In my area, sellers are doing crazy chit like making the buyers pay all the taxes, closing costs, everything. My friend's property had 3 offers before it even hit the market, just through word of mouth.

Mainer?