- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Is it better to rent or buy a house
Posted on 7/9/19 at 10:03 am to Mingo Was His NameO
Posted on 7/9/19 at 10:03 am to Mingo Was His NameO
quote:I didn't say it was a binary choice. If you could track a conversation you would see that the poster I responded to compared home ownership to purchasing utilities.
It's neither, this isn't a binary choice
1
Posted on 7/9/19 at 10:03 am to Eighteen
quote:
While true, if you can get close to break even of even only 5 or 10K "loss" after 5 years that's still better than paying $1200 a month in rent x 12 x 5 years for a place to live
If you invest the principle payment and maintenance and remodel savings in the stock market then you could easily offset some of that $1,200 per month.
Posted on 7/9/19 at 10:03 am to PearlJam
quote:
It's more often than not an appreciating asset
That doesnt really matter if it costs more to for to ensure it appreciates.
Posted on 7/9/19 at 10:03 am to lsu13lsu
quote:typically, yes.
Calling a house a depreciating asset is a stretch?
This post was edited on 7/9/19 at 10:05 am
Posted on 7/9/19 at 10:04 am to Kujo
quote:
I'm now looking at 5k a month mortgage in a less than perfect area
Assuming you put 10% down, and doing the math, you paid between 6 and 8k for a house in a shitty area?
Posted on 7/9/19 at 10:04 am to PearlJam
quote:
If you could track a conversation you would see that the poster I responded to compared home ownership to purchasing utilities.
Sorry I didn't go back and track back to the specific poster out of the half dozen telling you you're wrong.
Posted on 7/9/19 at 10:05 am to Mingo Was His NameO
So buying one house isn't an investment, but buying two would be? What if I rented an apt, but bought a house, rented it out to cover costs, then sold it for a profit as intended?
This post was edited on 7/9/19 at 10:07 am
Posted on 7/9/19 at 10:06 am to 777Tiger
quote:
yep, the house I live in is paid off but I pay the gov't. about $14k/yr. for the privilege of living in it
Holy shite... What area of Texas do you live?
This post was edited on 7/9/19 at 10:07 am
Posted on 7/9/19 at 10:07 am to Mingo Was His NameO
quote:What a cowardly way of acknowledging you were off base.
Sorry I didn't go back and track back to the specific poster out of the half dozen telling you you're wrong.
Posted on 7/9/19 at 10:07 am to PearlJam
quote:
You are arguing against a point that wasn't made (a straw man) and completely over stated the case to try to argue the point.
No, he is arguing that houses do not fit the label of "investment."
Minimizing cost is not investing. It sounds like you agree with him but just want to stick to "traditional" labels.
Posted on 7/9/19 at 10:07 am to Hammertime
quote:
Because a lot of idiots watch TV shows, and then decide they can do it all themselves. I dated one girl who bought a flip house. She didn't even know how to put up light fixtures or fans, so she was subbing it out
case in point, I used to do a bit of flipping, got several good deals by taking a property off of the hands of people like that, once the niche has gotten to the point of having reality shows and seminars about it, it's usually too late to jump on the band wagon
Posted on 7/9/19 at 10:08 am to Mingo Was His NameO
quote:Sure it matters, because the alternative is usually expending similar money with no appreciating asset to show for it.
That doesnt really matter if it costs more to for to ensure it appreciates.
Posted on 7/9/19 at 10:11 am to 777Tiger
quote:
case in point, I used to do a bit of flipping, got several good deals by taking a property off of the hands of people like that, once the niche has gotten to the point of having reality shows and seminars about it, it's usually too late to jump on the band wagon
That is a problem we are running into. Too many people bidding on shitty properties to rehab. The starting price is usually the right price but they are getting bid up.
Using subs gets too costly. My time is too expensive to do myself.
There is money to be made but it has gotten a lot harder.
Posted on 7/9/19 at 10:11 am to Hangover Haven
quote:
What area of Texas do you live?
cookie cutter suburbia, Keller, and I do mean cookie cutter, there is nothing spectacular about the development I'm in
Posted on 7/9/19 at 10:11 am to PearlJam
quote:
because the alternative is usually expending similar money with no appreciating asset to show for it.
No its not. You take the savings from post purchase costs and invest them in other areas.
Posted on 7/9/19 at 10:13 am to Hammertime
quote:
So buying one house isn't an investment, but buying two would be? What if I rented an apt, but bought a house, rented it out to cover costs, then sold it for a profit as intended?
What you are describing is literally investing. I would wager 99% of people who buy a single personal residence is not doing what you are doing.
Posted on 7/9/19 at 10:14 am to 777Tiger
quote:
yep, the house I live in is paid off but I pay the gov't. about $14k/yr. for the privilege of living in it
My property taxes last year were under $1,000. Yikes.
Posted on 7/9/19 at 10:15 am to notsince98
quote:Ok. Owning an appreciating asset by increasing your shelter cost by a small fraction is an investment.
Minimizing cost is not investing
The purchaser and renter both have an essential cost. But, stripping out that essential cost, the owner is left with a valuable asset (one that will appreciate over time) and the renter does not. That is an investment.
It isn't an investment without risk or that makes sense for everyone, everywhere, all of the time. The rush to argue that it isn't an investment is simply a reaction to a traditional verification that homeownership is always better than renting. That isn't true, but it doesn't change the fact that real estate ownership is an investment.
Posted on 7/9/19 at 10:17 am to PearlJam
quote:
The purchaser and renter both have an essential cost. But, stripping out that essential cost, the owner is left with a valuable asset (one that will appreciate over time) and the renter does not
Yes they are.
quote:
That is an investment
No its not, you said it yourself, it's a cost.
Posted on 7/9/19 at 10:17 am to Mingo Was His NameO
quote:These costs are, by in large, factored into your rent. It is a myth to assume you aren't paying these costs simply because it isn't a line item in your rent.
You take the savings from post purchase costs
Page 6 of 8
Popular
Back to top
Follow TigerDroppings for LSU Football News