Renting vs Buying a Home
- Thread starter cashwhisperer
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This is pure bullshit.
First you are not going to rent a house worth 400k for 1500 a month anywhere, the mortgage alone would be over 2200 a month. If your credit is that bad that you would have to take a 300k loan at 6% you don't need to be buying a house in the first place. Secondly anyone who would continuously pay 18k a year for something that they will never own is an imbecile. I understand everyone isn't in the position to buy but that is the point of renting until you can afford to buy. I am long past renting and if you like giving your money away you go ahead and follow this dudes lead.
First you are not going to rent a house worth 400k for 1500 a month anywhere, the mortgage alone would be over 2200 a month. If your credit is that bad that you would have to take a 300k loan at 6% you don't need to be buying a house in the first place. Secondly anyone who would continuously pay 18k a year for something that they will never own is an imbecile. I understand everyone isn't in the position to buy but that is the point of renting until you can afford to buy. I am long past renting and if you like giving your money away you go ahead and follow this dudes lead.
The biggest flaw in this video is that rents always go up
Unless the economy around you is tanking
I own my house but I am not opposed to renting
The main reason to rent is if you may have to move soon (flexibility) or you believe it's a bubble which he touched on
Unless the economy around you is tanking
I own my house but I am not opposed to renting
The main reason to rent is if you may have to move soon (flexibility) or you believe it's a bubble which he touched on
Renting should never be a long term option. If you don't own anything by early 40s, you are screwed. Unless you plan to be a Walmart greeter or your son going pro. Gonna suck paying rent with two bad knees and no one wants to hire you. Rent provides flexibility which is cool when you begin your career. Shit at the very least buy some cheap place outside a big city in the south and rent it out. At least you will have a home to go when you can no longer work. And if u need the money, sell it.
It's a no brainer in the long run. It's just that places like here, San Fran, New York, you gotta have that beastly downpayment
It's a no brainer in the long run. It's just that places like here, San Fran, New York, you gotta have that beastly downpayment
Only a moron looks at a house as an investment. Homes are not investments. Owning is very expensive, some people get lucky and can rent a nice house from a well off home owner who doesn't need the money and never raises rent. . Your can kiss your saving good bye with the up keep. AC/Heat needs replacing? 15k. Roof? 30k. Etc etc. Depending on your rent cost you can actually save more and all shit is fixed for you. It's about priorities. Only a nigga In some boondocks or bumpkin cheap town can shit on renters. Most people in Major cities rent for a reason. Buying isn't an option unless you're a millionaire here.
For the record, I'm currently not renting, but I understand why some people prefer to rent. Some people don't want to be bothered with maintaining a home. Fixing and repairing this and that, lawn maintenance, etc, etc. I know 2 people who make good money, but don't want the responsibility taking care of a house.
Hell, sometimes I think about going back to renting. I'm sick of cutting the lawn, sick of trimming the bushes, sick of shoveling snow...last year the heater broke, gutters need to be replaced. master-bathroom needs to be updated. the list goes on & on
Hell, sometimes I think about going back to renting. I'm sick of cutting the lawn, sick of trimming the bushes, sick of shoveling snow...last year the heater broke, gutters need to be replaced. master-bathroom needs to be updated. the list goes on & on
I've been renting for 8 years. Pretty much the length of me in graduate school. Now that I am out, I am saving to buy. Renting has good benefits if you don't like house maintenance.
that kind of sums up your answer
its not even an option for those around you.
a house can very well be an ivestment,all depends on when you get in and get out
Mane fuck that! 
Renting leaves you homeless. I got kicked out of my apartment last month for being 4 months behind on rent. But I found a better deal and used that guide damned squatters law to move into an empty property and pay nothing down, nothing per month and did not even have to fill out any paperwork. I just saw the empty house and moved in. The nice white people next door come by and ask me if I need anything and they even made me some cake. They only allow one black in the neighborhood at a time and IIIMMM IT! I love it!
I claim ownership of foreclosed and abandonded homes. I go downtown and get my piece of paper. Once I take ownership of most of these homes I just rent them out for about $500 - $1500 per month, with a 5% discount to the renter if I can screw the wife of the house every now and then. 
Next week I will be squatting on an apartment complex. The owner is going to come up missing somehow and I will use the squatters law to take over the property for about $200. then I will rent out each unit for $800 a month with a 75% discount to NOI muslims. 
The news interviewed me. Like to here it here it go!
THIS is how kogalee buys a house goddammit!!!!!
Renting leaves you homeless. I got kicked out of my apartment last month for being 4 months behind on rent. But I found a better deal and used that guide damned squatters law to move into an empty property and pay nothing down, nothing per month and did not even have to fill out any paperwork. I just saw the empty house and moved in. The nice white people next door come by and ask me if I need anything and they even made me some cake. They only allow one black in the neighborhood at a time and IIIMMM IT! I love it!
I claim ownership of foreclosed and abandonded homes. I go downtown and get my piece of paper. Once I take ownership of most of these homes I just rent them out for about $500 - $1500 per month, with a 5% discount to the renter if I can screw the wife of the house every now and then.
Next week I will be squatting on an apartment complex. The owner is going to come up missing somehow and I will use the squatters law to take over the property for about $200. then I will rent out each unit for $800 a month with a 75% discount to NOI muslims.
The news interviewed me. Like to here it here it go!
THIS is how kogalee buys a house goddammit!!!!!
The reason the market tanked was people looking at homes like investments. That ruined shit for everybody. Why would I put down 250k cash(20% here) for a house when I can keep that in stocks? You can rent and use the remaining money to invest and save. You never truly own your crib anyways. Unless youve paid off your mortgage you're renting from the bank. The bank is your land lord. Also property taxes. The county can certainly take your house too if something happens and you can't pay your taxes. It's all bullshit.
I got throwed out!
Mane fuck you!
I am not derailing the topic. Squatting for free property and knowing the real estate laws is how I got a free house!
What I said is relavent and what you said about renting is plain stupid. YOu dumb fucker!
the market tanked because greedy brokers were putting people in houses they could not afford.
those "millionaires" that own those houses being rented where you live,$250 is prob a drop in the bucket to them. there are people out here who can put down a down payment and still invest in stocks among other things. a diversified portfolio is golden. it is an investment and can be a very profitable one or you can turn a loss, just like those stocks you want to invest in. I PERSONALLY would rather pay off a home and then just live with the taxes rather than stuck paying someone 20k a yr to rent at age 60, that's just me. i can always down size and buy an apartment and have change left over. btw houses in my neighborhood are up alomost 60K in the last 3 years.
I rent...but most of my family members and friends have houses. Financially....im doing better than 60% of the people that i know that have houses (mostly the young folks that bought houses waaaay after that baby boom era). And despite shelling out around 22k annually (w/ great amenities) ....my financial future is looking brighter than most of the "home owners" that i know.
Most of you are looking at owning a home as a business deal....instead of looking at your home as shelter. At the end of the day....if youre renting or paying a yearly tax bill (amonsgt other home owning bills)....bottom line is YOURE PAYING FOR SHELTER. You may save some dollas here and there...but bottom line is we're all paying for shelter; unless youre homeless or freeloading.
Dont make it seem as if the renter is "missing out" on something. You do what fits your budget. Focus more on money management.....not living the American dream.
Btw....in this country...YOULL NEVER OWN A HOME. Owning a home is an illusion that was sold to you. Stop paying your tax bill and youll see what i mean.
A lot of you are tryna shit on renters...while you all are forever in debt yourselves. Now thats fucking hilarious!!!
Most of you are looking at owning a home as a business deal....instead of looking at your home as shelter. At the end of the day....if youre renting or paying a yearly tax bill (amonsgt other home owning bills)....bottom line is YOURE PAYING FOR SHELTER. You may save some dollas here and there...but bottom line is we're all paying for shelter; unless youre homeless or freeloading.
Dont make it seem as if the renter is "missing out" on something. You do what fits your budget. Focus more on money management.....not living the American dream.
Btw....in this country...YOULL NEVER OWN A HOME. Owning a home is an illusion that was sold to you. Stop paying your tax bill and youll see what i mean.
A lot of you are tryna shit on renters...while you all are forever in debt yourselves. Now thats fucking hilarious!!!
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This^^^^^^
Edit:... Im 13 years in on a 390k mortgage... my youngest will be heading to the U of A Fayetteville next fall...That's when I will actively seek to become a renter again..
If renting for you works, then do you.
If owning your home works, then do you.
End of story.
If owning your home works, then do you.
End of story.
THIS!!
And THIS!!!
Buying a home isn't for everyone, but fuck paying someone else's mortgage. Buy smart and not above your means.
subbed
Living in Jersey, you never truly own your home due to the high ass property taxes... And anyone who feels it makes more sense to buy something that you could possibly pay 3 times total what the purchase price was is really not thinking clearly... Now, I own my house, put a nice nut on it, have paid more than the mortgage payment since we brought her in 08, and will hav it paid off in about 10 years, but that's not normal. My boys Pop just retired at 67, had an office job and was just chilling, rented all his life. Was in the same crib for the last 20 years or so. Anyway, him and his wife estimated what they would pay in a mortgage for the same crib, banked and invested that shit and once he retired he had his pension, SSI, 401k, AND over damn near 7 figures additional Due to their renting decision, all cash money... Now, they live in a nice ass senior community for half of what they were paying in rent chilling. There is some benefit to renting instead of buying.... :lyes:
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i live in san diego and own. If you can't own, you are a broke bum. It's not that hard. How you gonna pay that rent at 75 genius?
and its funny you talk of home improvements without owning a home. you don't buy a roof every year and that is a tax write off. don't buy something from 1932 either. Rich people own. broke people do not. There's a reason for that.
But go ahead, spend money on some rims.
owning is not an illusion. you own the home, not the land. you are missing out because you are giving money to someone else to pay their bills. how is that better than owning something and having someone else pay your bill?
think.homes shouldn't be an investment, i agree in the short term fix. its security for retirement. also, never buy during a boom. wait this shit out right now unless you buying in the boonies. i bought a place on the dip and paying three times as less on a mortgage than what it would rent out for. i don't even pay my mortgage. i rent out and they pay for it plus i make money on top. this dumb a dude thinking he cool renting paying my place for me.
i live in san diego and own. If you can't own, you are a broke bum. It's not that hard. How you gonna pay that rent at 75 genius?
and its funny you talk of home improvements without owning a home. you don't buy a roof every year and that is a tax write off. don't buy something from 1932 either. Rich people own. broke people do not. There's a reason for that.
But go ahead, spend money on some rims.
A broke bum? Shut your faggit ass up pussy. You wouldn't own shit in the Bay Area . Dumb fuck living in San Diego with 1/3rd the cost of living fronting like he ballin. You know how many millionaires out here rent stupid?
Mortgage interest. Tax deductible. Real estate taxes. Tax deductible. Adjust the federal allowances and take home more of your paycheck now rather than a big tax refund (YYMV).
Crunch the numbers and do what makes sense. My rent before I mortgaged (can't say I own this shit if the bank still has their hands in it) my house was higher than my mortgage payment. Of course, I had to put $ down.Will I break even? Won't know until I sell.
Crunch the numbers and do what makes sense. My rent before I mortgaged (can't say I own this shit if the bank still has their hands in it) my house was higher than my mortgage payment. Of course, I had to put $ down.Will I break even? Won't know until I sell.
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I stopped watching the video because it was saying shit I already knew.Homes are poor investments.If accumulating wealth is the goal, then it is far better to rent the home you live in and buy a cashflowing rental with the money you would have put down.This especially makes sense if you can rent a home with rent control.Purchasing a home is mainly emotional. You end up paying much more than the purchase price when you add in interest.I will backtrack and say it makes sense if you live in some area with stupid cheap homes and you know you want to stay there forever.
You have to buy with due diligence.... Brought my home 2 years ago redid guest bath and kitchen....now similar homes without improvements are going for 40k more then I paid for my home...key is buying in an attractive school district
This is my thinking as well. Do what works for your situation (obviously). I also ask myself: am I actually living in a spot where I want to be tied to owning (geographically)? Id love to own a home eventually, but don't just buy because you can or feel like you should.
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