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re: Can someone help me explain how people are affording a house in today's market?
Posted on 4/3/23 at 2:45 pm to StringedInstruments
Posted on 4/3/23 at 2:45 pm to StringedInstruments
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month. This is a massive incentive compared to owning a home, where you would have to provide major upkeep just to see an even return on investment.
14
Posted on 4/3/23 at 2:48 pm to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month
Yeah, landlords just love giving a deal to renters and aren't making a profit by being the owner of the home. There are certainly circumstances that make renting better, but the general cost of ownership is being passed onto the renter. Otherwise no one would invest in rental properties.
Posted on 4/3/23 at 2:48 pm to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month. This is a massive incentive compared to owning a home, where you would have to provide major upkeep just to see an even return on investment.
Tell me you haven't been in the rental market lately without telling me you haven't been in the rental market lately.
Posted on 4/3/23 at 3:08 pm to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month.
The only reason you can say "no dedication to a massive note every month" is because the FHA has weaponized COVID to prevent landlords from kicking you out on your arse if you avoid paying that "note".
Posted on 4/3/23 at 4:29 pm to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner.
LOL...But seriously, not is not.
Posted on 4/3/23 at 6:04 pm to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month. This is a massive incentive compared to owning a home, where you would have to provide major upkeep just to see an even return on investment.
Democrats: You will own nothing and like it.
Posted on 4/3/23 at 6:31 pm to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month. This is a massive incentive compared to owning a home, where you would have to provide major upkeep just to see an even return on investment
We did this for a long time and people still comment about us doing this into our mid 30s in a cynical and annoying as frick way. However, we lived in areas we wanted, never had maintenance, never worried about lawn care, pool upkeep, or really anything. If something broke, someone came fo fix it for free or replace it. Moved to a new place in new neighborhood whenever we wanted to... worked for us. We now have 2 places, do not regret our choices. The interest, property taxes, hoa all exceed what I "wasted" in rent a month. Theoretically I was no worse off investing any amount over that vs paying principle in a mortgage. Like most things in life, people are closed minded and do what they are told rather than critical thinking.
Posted on 4/3/23 at 6:41 pm to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month. This is a massive incentive compared to owning a home, where you would have to provide major upkeep just to see an even return on investment.
Posted on 4/3/23 at 8:41 pm to BilbeauTBaggins
quote:Wut?
Renting is cheaper
1 br apartments in Slidell are north of $1k/month now, closer to $1.5k. The rent moratorium for two years has destroyed the rental markers.
Posted on 4/3/23 at 9:50 pm to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month. This is a massive incentive compared to owning a home, where you would have to provide major upkeep just to see an even return on investment
This is getting a lot of hate. Maybe people should run some numbers on a rent to own calculator and give us some examples.
I’m too tired/lazy to do it right now.
Posted on 4/3/23 at 11:26 pm to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month.
My mortgage is about $1100/month on a 2000 sq ft house. Wife and I are teachers, so we are poor. Combined income is about $130K.
I’d much rather be paying that into a home that we can slowly update and sell at a profit than pay $1500/mo to rent.
Posted on 4/4/23 at 7:19 am to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month. This is a massive incentive compared to owning a home, where you would have to provide major upkeep just to see an even return on investment.
Renting is also more conducive to being able to follow the money career wise....we have relocated 9 times in our careers and were fortunate to have real estate as part of our relocation package each time but that is rare...and getting rarer. You don't own real estate, real estate owns you...
Posted on 4/4/23 at 8:17 am to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month. This is a massive incentive compared to owning a home, where you would have to provide major upkeep just to see an even return on investment.
Frick that. I am not working my arse off just to line the pockets of the landlord. I am much happier owning my own home.And to suggest it's an even return shows your lack of knowledge.
Posted on 4/4/23 at 9:45 am to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month. This is a massive incentive compared to owning a home, where you would have to provide major upkeep just to see an even return on investment.
I am subscribed to a YT channel about a guy who "teaches you on frugality" and the topic was renting vs buying. A poster wrote same comment as yours.
In summary I responded that you could literally die of old age paying rent with increasing inflation cost added every 2 or 3 years or so (my front door neighbor had to move out b/c her monthly rent increased by $600 a month in one shot).
On the other hand, most people will pay off their homes by age 68-70. You will potentially have $650K average at your disposal if deciding to downgrade. Now tell me what is the better option.
And no, rent is not cheaper than buying. I am paying $1800 mortgage including escrow for the same townhouse model that a neighbor next to me is paying $3,400 a month for rent. It's crazy.
Posted on 4/4/23 at 9:50 am to BilbeauTBaggins
quote:
Renting is cheaper and has less hassle than being a homeowner. If something breaks, you call the landlord/apartment complex and it gets fixed/replaced.) No dedication to a massive note every month. This is a massive incentive compared to owning a home, where you would have to provide major upkeep just to see an even return on investment.
I bought my house in 2005. My mortgage is less than what most people are paying to rent a comparable house right now.
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