07-19-2024, 09:28 AM
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#1
- tituslookfreak
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- tituslookfreak
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Why do people act like homes aren't money pits?
Why do homeowners pretend they "made it" and it's all rainbows and sunshine?
Homes are huge money pits. The coat of ownership has gone up exponentially. Insurance, maintance, taxes, etc...
Just forget it if you have some serious issues with your hvac or plumbing. Or if you want to add onto the house.
Not only that but if you want to do home improvement youraelf.you have to spend the money to buy/rent the tools, spend all day your day off doing it etc...
I'm at the point where I believe renting is better than owning srs.
Homes are huge money pits. The coat of ownership has gone up exponentially. Insurance, maintance, taxes, etc...
Just forget it if you have some serious issues with your hvac or plumbing. Or if you want to add onto the house.
Not only that but if you want to do home improvement youraelf.you have to spend the money to buy/rent the tools, spend all day your day off doing it etc...
I'm at the point where I believe renting is better than owning srs.
07-19-2024, 09:29 AM
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#2
- ThatGuy950
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- ThatGuy950
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True, whereas renting is clearly an investment
Coincel
Florida crew (lol at coldcels)
07-19-2024, 09:30 AM
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#3
- tituslookfreak
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- tituslookfreak
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Originally Posted By ThatGuy950⏩
U can save more money and invest the money saved and yes I know ur being sarcasticTrue, whereas renting is clearly an investment
07-19-2024, 09:32 AM
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#4
- OliverHeldens
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Lol, I've seen a couple San Fran Condo listings recently....
The property was rented for $5000/mo last year, now they're selling the Condo for an amount which requires a total payment of $11,000 per month.
Anyone buying a home right now is a massive sucker.
The property was rented for $5000/mo last year, now they're selling the Condo for an amount which requires a total payment of $11,000 per month.
Anyone buying a home right now is a massive sucker.
07-19-2024, 09:34 AM
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#5
- JackyChin
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- JackyChin
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90% of people are incapable of saving any money, for them owning a home is smart because it acts as forced savings. These are the same people who brag about a big tax refund coming in and have mentally allocated any extra income to lifestyle purchases before it even arrives.
07-19-2024, 09:35 AM
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#6
- tituslookfreak
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- tituslookfreak
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Originally Posted By OliverHeldens⏩
Not only that newly built homes are all cheap cookie cutters. My brother moved from NJ to NC and bought a brand new home and the pos is poorly built and paper thin everywhere.Lol, I've seen a couple San Fran Condo listings recently....
The property was rented for $5000/mo last year, now they're selling the Condo for an amount which requires a total payment of $11,000 per month.
Anyone buying a home right now is a massive sucker.
The property was rented for $5000/mo last year, now they're selling the Condo for an amount which requires a total payment of $11,000 per month.
Anyone buying a home right now is a massive sucker.
They use the cheapest materials now.
07-19-2024, 09:35 AM
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#7
- WoofieNugget
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Originally Posted By OliverHeldens⏩
It's been that way in any major city in Canada for five years. Since before the pandemic.Lol, I've seen a couple San Fran Condo listings recently....
The property was rented for $5000/mo last year, now they're selling the Condo for an amount which requires a total payment of $11,000 per month.
Anyone buying a home right now is a massive sucker.
The property was rented for $5000/mo last year, now they're selling the Condo for an amount which requires a total payment of $11,000 per month.
Anyone buying a home right now is a massive sucker.
07-19-2024, 09:36 AM
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#8
- JackyChin
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- JackyChin
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Originally Posted By OliverHeldens⏩
Maybe, but their living expenditures are capped where the rent can always go up. And in 30 years they will own a condo free and clear at a low tax basis. So maybe not a total sucker.Lol, I've seen a couple San Fran Condo listings recently....
The property was rented for $5000/mo last year, now they're selling the Condo for an amount which requires a total payment of $11,000 per month.
Anyone buying a home right now is a massive sucker.
The property was rented for $5000/mo last year, now they're selling the Condo for an amount which requires a total payment of $11,000 per month.
Anyone buying a home right now is a massive sucker.
Especially if there is significant inflation.
07-19-2024, 09:39 AM
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#9
- OliverHeldens
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Originally Posted By JackyChin⏩
You have this backwards...Maybe, but their living expenditures are capped where the rent can always go up. And in 30 years they will own a condo free and clear at a low tax basis. So maybe not a total sucker.
Especially if there is significant inflation.
Especially if there is significant inflation.
Rent is the maximum anount you pay for a property. If your rent is $2000/mo, you're never going to have to pay more than that. If rent goes up in future years, you can always negotiate or move.
When you own, your mortgage payment is the least you'll ever pay. There are a ton of massive expenses that can potentially come up on top of this amount which will be additional costs.
07-19-2024, 09:40 AM
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#10
- Cleveland33
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- Cleveland33
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Why did OP and his buddies molest a girl that was passed out in high school?
07-19-2024, 09:42 AM
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#11
- miscHodor
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- miscHodor
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As if the majority of renters are actually going to invest enough money to make that argument valid lol.
My home has almost tripled in value since I bought it in 2016 with a 3.5% interest rate. My insurance has increased a whopping $400 since that time. Meanwhile, people in the same area are paying more for a ****ty 2 bedroom apartment than what I pay (taxes & ins. included) per month on my mortgage for a 2800 sq ft house on an acre lot.
My home has almost tripled in value since I bought it in 2016 with a 3.5% interest rate. My insurance has increased a whopping $400 since that time. Meanwhile, people in the same area are paying more for a ****ty 2 bedroom apartment than what I pay (taxes & ins. included) per month on my mortgage for a 2800 sq ft house on an acre lot.
07-19-2024, 09:43 AM
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#12
Pros and cons
Not sharing walls and having the freedom to do as I please on my property is worth it
My neighbors 2 houses over can hear my surround sound system if my windows are open and there ain't a damn thing they can do about it.
I have a yard for my dog to roam
I have space to store all my activities
Living in an apartment felt like only half living. I wasn't even allowed to have a grill. I had no where to put a kayak. I still used my parents house to store all my bikes and chit.
Buying a home just condensed everything into one space that's mine.
I bought a cheap home and put money into it. Regardless it will be expensive. But it provides a much better style of life.
Not sharing walls and having the freedom to do as I please on my property is worth it
My neighbors 2 houses over can hear my surround sound system if my windows are open and there ain't a damn thing they can do about it.
I have a yard for my dog to roam
I have space to store all my activities
Living in an apartment felt like only half living. I wasn't even allowed to have a grill. I had no where to put a kayak. I still used my parents house to store all my bikes and chit.
Buying a home just condensed everything into one space that's mine.
I bought a cheap home and put money into it. Regardless it will be expensive. But it provides a much better style of life.
07-19-2024, 09:44 AM
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#13
- WoofieNugget
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Originally Posted By OliverHeldens⏩
Lots of people forget that at least 5% of the value of your home is unrecoverable costs. So that's interest, taxes, insurance, maintenance, etc. With today's interest rates it's probably more like 7%. So on a 500k home that's 35k a YEAR that you don't get back. they just look at the mortgage cost and think that's it.You have this backwards...
Rent is the maximum anount you pay for a property. If your rent is $2000/mo, you're never going to have to pay more than that. If rent goes up in future years, you can always negotiate or move.
When you own, your mortgage payment is the least you'll ever pay. There are a ton of massive expenses that can potentially come up on top of this amount which will be additional costs.
Rent is the maximum anount you pay for a property. If your rent is $2000/mo, you're never going to have to pay more than that. If rent goes up in future years, you can always negotiate or move.
When you own, your mortgage payment is the least you'll ever pay. There are a ton of massive expenses that can potentially come up on top of this amount which will be additional costs.
Even the initial deal of buying requires lawyers fees, land transfer taxes, etc. Often amounting to over 10k just to finish the deal.
I've owned two houses, but I currently rent because of my living situation and the current housing market. It makes zero sense to buy where I live.
07-19-2024, 09:46 AM
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#14
- OffwhiteBrah
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this coming from someone trying to rob a pawn shop
07-19-2024, 10:17 AM
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#15
- DuracellBunny
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A house is like a tuxedo; a rental never quite fits properly. You either buy one and have it tailored, or, if you have the time and money, have one made for you.
Screw nature; my body will do what I DAMN WELL tell it to do!
The only dangerous thing about an exercise is the person doing it.
They had the technology to rebuild me. They made me better, stronger, faster......
07-19-2024, 10:20 AM
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#16
07-19-2024, 10:25 AM
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#17
- OliverHeldens
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Originally Posted By DuracellBunny⏩
I promise you, there are plenty of people who own homes they hate. And because they have a 3% rate and can't afford to move, they're stuck in that home they hate.A house is like a tuxedo; a rental never quite fits properly. You either buy one and have it tailored, or, if you have the time and money, have one made for you.
07-19-2024, 10:27 AM
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#18
- IPoopStandingUp
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- IPoopStandingUp
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My house has had some maintenance costs but they so far don't add up to the hundreds of thousands of dollars it's gained in equity.
07-19-2024, 10:30 AM
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#19
- DuracellBunny
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Originally Posted By OliverHeldens⏩
I have a 23k sqft house, on 40 acres, built to my specifications. It isn't possible to rent that.I promise you, there are plenty of people who own homes they hate. And because they have a 3% rate and can't afford to move, they're stuck in that home they hate.
Screw nature; my body will do what I DAMN WELL tell it to do!
The only dangerous thing about an exercise is the person doing it.
They had the technology to rebuild me. They made me better, stronger, faster......
07-19-2024, 10:35 AM
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#20
07-19-2024, 10:38 AM
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#21
- guest89
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- guest89
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Why isnt everyone complaining about how the boomers stayed rentcels and now have so many millions of dollars in the market due to 'investing the difference' ???
Obviously if you make a ridiculous amount of money its irrelevant. But for the middle class....
lmao.
Originally Posted By tituslookfreak⏩
If this were true then renters would all be wealthy and home-owners impoverished. The data tends to indicate people with homes have a much higher net worth over the course of their life.U can save more money and invest the money saved and yes I know ur being sarcastic
Obviously if you make a ridiculous amount of money its irrelevant. But for the middle class....
Originally Posted By DuracellBunny⏩
When you talk about your home I envision a butler, a gardener, servants, etc.I have a 23k sqft house, on 40 acres, built to my specifications. It isn't possible to rent that.
lmao.
07-19-2024, 10:41 AM
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#22
Originally Posted By tripod29⏩
lulz, indeed. Also, my mortgage + escrow is less than rent for most halfway decent/not totally ghetto apartments in the area I live.I always lol at the line "invest the difference" that rentcels use. Srs, vry srs.
07-19-2024, 10:42 AM
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#23
- DuracellBunny
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Originally Posted By guest89⏩
I have a cleaner who works mommy shifts (drops her kids off at school, comes to work and then picks her kids up from school) and a retired guy who likes gardening to do the yardwork.If this were true then renters would all be wealthy and home-owners impoverished. The data tends to indicate people with homes have a much higher net worth over the course of their life.
Obviously if you make a ridiculous amount of money its irrelevant. But for the middle class....
When you talk about your home I envision a butler, a gardener, servants, etc.
lmao.
Obviously if you make a ridiculous amount of money its irrelevant. But for the middle class....
When you talk about your home I envision a butler, a gardener, servants, etc.
lmao.
In style, it's more a very large contemporary farmhouse than a mansion. It's built to be lived and worked in, rather than impress people.
Screw nature; my body will do what I DAMN WELL tell it to do!
The only dangerous thing about an exercise is the person doing it.
They had the technology to rebuild me. They made me better, stronger, faster......
07-19-2024, 10:44 AM
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#24
- guest89
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Originally Posted By DuracellBunny⏩
Sounds big as fukk tho brah. Feel free to post pics. I love setups like that.I have a cleaner who works mommy shifts (drops her kids off at school, comes to work and then picks her kids up from school) and a retired guy who likes gardening to do the yardwork.
It's more a very large contemporary farmhouse than a mansion.
It's more a very large contemporary farmhouse than a mansion.
07-19-2024, 10:47 AM
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#25
- Titansfan08
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Nothing better than rentcel cope
07-19-2024, 10:56 AM
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#26
07-19-2024, 10:58 AM
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#27
- DuracellBunny
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Originally Posted By guest89⏩
I'm not posting pics, but I will give you a brief description: large central, double height space with all downstairs rooms coming off it and all upstairs rooms coming off the mezzanine.Sounds big as fukk tho brah. Feel free to post pics. I love setups like that.
All the downstairs rooms have either double oversize doors or sliding walls, so you can open the whole thing out and see every room from the "great hall".
One side of the house has a courtyard, with a gym and indoor pool on the opposite side, with a connecting glass portico.
I-beam and reinforced concrete construction, heavily insulated, underfloor heating, solar and ground source heat pumps handle all heating and A/C needs (includinng heating the pool) with a bit left over.
The house is sandwiched between 2 farms and has a mixture of lake, woodland and lawns/paddocks. It doesn't have big formal gardens or any of that crap. It's a home, not a museum piece and it's designed to be lived in.
We bought it part built when one of the developers died. The basic structure of the main house was done, so we finished that to our specs and added the courtyard and the gym/pool wing.
Screw nature; my body will do what I DAMN WELL tell it to do!
The only dangerous thing about an exercise is the person doing it.
They had the technology to rebuild me. They made me better, stronger, faster......
07-19-2024, 11:56 AM
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#28
- WoofieNugget
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Originally Posted By DuracellBunny⏩
Riiiiiiight.I have a 23k sqft house, on 40 acres, built to my specifications. It isn't possible to rent that.
Even if this was true, a 23k square foot house would be a ridiculous waste of money unless you're running a boarding school. What you described isn't even close to that.
Spoon pics incoming, I'm sure.
07-19-2024, 12:11 PM
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#29
- Issobolic28
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- Issobolic28
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Originally Posted By tituslookfreak⏩
OP has never heard of a someone getting a home inspection beforehand.Just forget it if you have some serious issues with your hvac or plumbing. .
07-19-2024, 12:13 PM
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#30
- Cleveland33
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- Cleveland33
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Originally Posted By Issobolic28⏩
not surprising that repairs would scare him - bet he's never turned a wrenchOP has never heard of a someone getting a home inspection beforehand.
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