I like to rent
Is RENTING a home better than BUYING?
03/04/2013
table38792
It really depends on the prices but in general I would like to own so I don't have to worry about getting ripped off in rent by the landlord.
03/04/2013
I want to own a house. I don't like renting, I want to be able to settle down in a place I know we'll stay for a long time. I want to paint, decorate, remodel, etc. to OUR tastes, not what we're 'allowed' to do.
03/04/2013
Quote:
It's the time to buy!!
Originally posted by
PassionateLover2
Buying a home is considered a smart thing to do if you have a good credit rating and qualify for a mortgage. Many people view their home an investment as a hedge against inflation. However, others argue that in many cases it's less expensive to
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more
Buying a home is considered a smart thing to do if you have a good credit rating and qualify for a mortgage. Many people view their home an investment as a hedge against inflation. However, others argue that in many cases it's less expensive to rent than to own when you take into account the numerous costs, including mortgage payments, property taxes, insurance, utilities, condo or homeowners association fees, maintenance, etc. Renting offers flexibility if you move frequently. Assuming that you qualify for a mortgage, which choice would you choose?
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03/04/2013
Quote:
I use to be a contented renter, however there is a bigger freedom being able to do whatever you want with your home and have to answer or tiptoe around anyone. Plus there is a bigger sense of security a landlord could need there place back or decide to sell at any moment then you are stuck going through the pain of moving.
Originally posted by
PassionateLover2
Buying a home is considered a smart thing to do if you have a good credit rating and qualify for a mortgage. Many people view their home an investment as a hedge against inflation. However, others argue that in many cases it's less expensive to
...
more
Buying a home is considered a smart thing to do if you have a good credit rating and qualify for a mortgage. Many people view their home an investment as a hedge against inflation. However, others argue that in many cases it's less expensive to rent than to own when you take into account the numerous costs, including mortgage payments, property taxes, insurance, utilities, condo or homeowners association fees, maintenance, etc. Renting offers flexibility if you move frequently. Assuming that you qualify for a mortgage, which choice would you choose?
less
03/04/2013
Quote:
I'd rather buy...if I had the money to do so.
Originally posted by
PassionateLover2
Buying a home is considered a smart thing to do if you have a good credit rating and qualify for a mortgage. Many people view their home an investment as a hedge against inflation. However, others argue that in many cases it's less expensive to
...
more
Buying a home is considered a smart thing to do if you have a good credit rating and qualify for a mortgage. Many people view their home an investment as a hedge against inflation. However, others argue that in many cases it's less expensive to rent than to own when you take into account the numerous costs, including mortgage payments, property taxes, insurance, utilities, condo or homeowners association fees, maintenance, etc. Renting offers flexibility if you move frequently. Assuming that you qualify for a mortgage, which choice would you choose?
less
03/04/2013
Buy is the way to go. I just don't have the money to do it.
03/05/2013
I am renting and I hate it. I don't feel like it is home.
03/06/2013
Quote:
Thanks 'Bignuf' for all your posts in responses to other contributors. BUT, what you forget to take into consideration is that HOME ownership is usually the largest investment almost everyone makes. I'm excluding millionaires and billionaires in this discussion. Ha ha!
Originally posted by
Bignuf
Nice thought, but while your advice may have been true thirty years ago, does it apply now? Many homes have lost huge amounts. Equity? They are in the double digit negatives and it could take years to recover. Low interest is nice, and gets many
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Nice thought, but while your advice may have been true thirty years ago, does it apply now? Many homes have lost huge amounts. Equity? They are in the double digit negatives and it could take years to recover. Low interest is nice, and gets many people into homes, but then, what IF they want to move? Often homes stay years on the market, without an offer...even with historic low interest rates. Ever notice most older people DO retire to rental property? Upkeep of a home is too high, and too much work.
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Second, HOME ownership is usually considered an American dream. Home ownership includes the 'land' which the home is located. It was land that our forefathers considered the most valuable asset. Not your 401k, IRA, SUV, savings account, or stamp collection!!!
Yes, renting only provides the "freedom" to move at a moments notice; no encumbrance; but not necessarily avoiding the headaches of maintenance. Don't be fooled that anyone who pays rent does include the landlord's costs of real estate taxes, utility cost, maintenance, and insurance! And there is always the possibility that your rent goes up annually, if such costs become an issue for the landlord.
As for older people who rent, it is only because it eliminates post death disposition of estate property for easier distribution in a stressful market. This has always been good advise for anyone who gets older.
Finally, what lead to the housing market collapse, was that people did NOT making any down payment on their home; they had no 'skin' in the game; that certain organizations made 'guarantees' on mortgage loans that did not cover the true market value of the subject property. This lead to a liquidity crises and stressed the capital markets, such as banks, etc. For years, people always believe that real estate values would always go up! Unfortunately, that was not true then and it is not true now!
03/08/2013
Quote:
With low mortgage rates, I would have to agree with you!
Originally posted by
LavenderSkies
It's the time to buy!!
06/18/2013
Even where renting looks less expensive than buying on a month to month basis, you'll almost always be better off in the long term buying because the money that you're using to buy with is actually doing work for you beyond that month's rent. Building equity is good (and I'd argue that the benefits of doing so usually outweigh the potential convenience of an easy-to-leave lease--unless you're almost certain you're going to leave anyway).
06/18/2013
We were long-time renters and now own a home. I've had good and bad landlords both and that certainly makes a difference in the whole renting experience.
I love our home, and our secluded yard. I love not having to worry about when someone else wants to get in my house, as good landlords often do to change furnace filters or this or that. I love being able to hang out outside without the neighbors on top of you running around when you just want to chill with a glass of wine after work or read outside. I love being able to play music or turn the tv up or make a little noise without offending anyone.
I love my garden and I can plant all the flowers and whatever I want. I can paint my walls the darkest of colors without monetary penalty.
As far as cost, I was almost paying as much rent as my house payment. When I rented, I paid all my utilities anyway, including water. But, I just bought the house a couple years ago.
That said, I'm so glad I didn't buy in 2002-2005 when everyone thought I was crazy for not buying and telling me that rates would never be lower etc. I didn't get how houses were so expensive around then, even little starter houses like ours. I didn't want too big of a house payment, so I rented for a long time. But really, I just didn't have the cash to do it, and it seemed like a lot of work.
Now, I'd fight pretty damn hard to keep it. It's my sanctuary, and no apartment has ever felt that way for me.
I love our home, and our secluded yard. I love not having to worry about when someone else wants to get in my house, as good landlords often do to change furnace filters or this or that. I love being able to hang out outside without the neighbors on top of you running around when you just want to chill with a glass of wine after work or read outside. I love being able to play music or turn the tv up or make a little noise without offending anyone.
I love my garden and I can plant all the flowers and whatever I want. I can paint my walls the darkest of colors without monetary penalty.
As far as cost, I was almost paying as much rent as my house payment. When I rented, I paid all my utilities anyway, including water. But, I just bought the house a couple years ago.
That said, I'm so glad I didn't buy in 2002-2005 when everyone thought I was crazy for not buying and telling me that rates would never be lower etc. I didn't get how houses were so expensive around then, even little starter houses like ours. I didn't want too big of a house payment, so I rented for a long time. But really, I just didn't have the cash to do it, and it seemed like a lot of work.
Now, I'd fight pretty damn hard to keep it. It's my sanctuary, and no apartment has ever felt that way for me.
06/18/2013
Buying is better than renting! It's an investment.
06/18/2013