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Started By
Message
Is it better to rent or buy a house
Posted on 7/9/19 at 8:08 am
Posted on 7/9/19 at 8:08 am
??
18
Posted on 7/9/19 at 8:09 am to Bossbailey34
Money board baw. Never rent anything unless it flies, fricks or floats.
This post was edited on 7/9/19 at 8:10 am
Posted on 7/9/19 at 8:09 am to Bossbailey34
How long do you plan to stay there?
Posted on 7/9/19 at 8:10 am to Bossbailey34
Every location, situation is different. What an asinine blanketed statement.
Posted on 7/9/19 at 8:10 am to Bossbailey34
Even if you buy it you're still renting it from the govt.
Posted on 7/9/19 at 8:11 am to Bossbailey34
It’s better to buy a trailer
Posted on 7/9/19 at 8:12 am to BeerMoney
quote:
Never rent anything unless it flies, fricks or floats.
Man, I gotta strongly disagree. If you are wanting a short term place to stay, renting a house is way to go. Learned that from experience with fiancee'. She bought a small place after the flood, brand new house, first occupant. Now, 2 years later, selling. When you factor in the realtor commissions, it's a losing proposition.
Much better to rent if you're not committed to living there at least 5 years, IMO.
Posted on 7/9/19 at 8:12 am to Bossbailey34
Depends but inb4 a bunch of financial illeterates tell you rent is throwing money away
Posted on 7/9/19 at 8:13 am to Bossbailey34
quote:
Georgia fan
Trailers are pretty cheap to buy so you should be good.
Posted on 7/9/19 at 8:13 am to Festus
quote:
Much better to rent if you're not committed to living there at least 5 years, IMO.
i think this is likely too small but 2 years at the ABSOLUTE minimum (for tax reasons)
and his comment is wrong anyway. it's you ONLY rent/lease if it flies, fricks, or floats.
Posted on 7/9/19 at 8:14 am to Festus
I agree with that. Blanket assertions like mine are never correct. It was just fun to type.
Posted on 7/9/19 at 8:15 am to BeerMoney
Blanket statements re: finances are my personal fyre fest
Posted on 7/9/19 at 8:18 am to Bossbailey34
Renting is a smart option if you’re young regardless of what anyone says. Most likely your life situation will change (family, job, desires) and a house can really become a burden.
Costs of owning a home (interest payments, insurance, higher utility bills, home improvements, home maintenance, property taxes, closing costs, longer commutes in general, etc.)
Renting is a fairly cheap lifestyle, and you don’t have to worry about shite and can typically get in an area more convienant to work/activities. If your life situation changes or other opportunities come along, you can easily just walk away.
I wouldn’t recommend buying a house to anyone under 30. Treat it like a marriage.
Costs of owning a home (interest payments, insurance, higher utility bills, home improvements, home maintenance, property taxes, closing costs, longer commutes in general, etc.)
Renting is a fairly cheap lifestyle, and you don’t have to worry about shite and can typically get in an area more convienant to work/activities. If your life situation changes or other opportunities come along, you can easily just walk away.
I wouldn’t recommend buying a house to anyone under 30. Treat it like a marriage.
This post was edited on 7/9/19 at 8:21 am
Posted on 7/9/19 at 8:29 am to Bossbailey34
Depends on your situation...
Posted on 7/9/19 at 8:34 am to Bossbailey34
I wish I rented every weekend cutting grass, or when something breaks and I have to fix it. Other than that, I enjoy being able to do whatever I want to my house knowing that it has been making me money just sitting here. It would suck knowing my money was going nowhere.
If you're really busy or not handy at all, rent
If you're really busy or not handy at all, rent
Posted on 7/9/19 at 8:40 am to SlowFlowPro
quote:
i think this is likely too small but 2 years at the ABSOLUTE minimum (for tax reasons)
I always thought 2 years and that's probably correct, 2 years as a minimum. But she was there over 2 years and still having to come up with cash at closing.
A lot depends on the market. In BR and surrounding area, the market is pretty soft. So paying 2 house notes for over a year has been miserable.
With the market where it is now, I'd say minimum 2 years, but personally, it would be closer to 5 for me. If it's a good sellers market and expected to remain that way, that number goes down.
Posted on 7/9/19 at 8:43 am to Bossbailey34
It really depends on how long you plan on being in an area. If you may have to move for a job and your employer won't pay you to move then it will definitely be better to rent. I have heard the rule of thumb is five years in an area then you should buy but I think it is more like ten.
Posted on 7/9/19 at 8:45 am to Festus
quote:
A lot depends on the market. In BR and surrounding area, the market is pretty soft.
Exactly. In BR your house will be dated in five years because there is constant new construction. To get market value you'll have to invest money to sell in five years. I think you would need to be in your house for ten years in a market like BR.
Posted on 7/9/19 at 8:45 am to Bossbailey34
Only buy a house if you can AFFORD it.
Posted on 7/9/19 at 8:46 am to Hammertime
quote:
knowing that it has been making me money just sitting here.
Unless you paid cash up front and have minimal maintenance/holding/repair costs, houses held for long term are typically money losers. For many, it loses less money than renting. In that case it is a good choice.
But housing is a living "cost." You don't make money by just living. You have to produce something to make money and that holds true for houses.
This post was edited on 7/9/19 at 8:47 am
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