Current Events > What's the point in renting when you can be a property owner?

(+) Yeah! (+)

I seriously don't understand this at all.

You're paying someone else's mortgage or increasing the wealth of existing property owners.

Your landlord can do basically whatever the fuck he wants, can raise the rent, kick you out for no reason etc.

They can REFUSE to rent to you even though you have enough money to pay 3 years worth of rent!

Why bother?
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(1) May not be able to get a loan.
(2) Short plans; maybe only plans on staying there for a year. Doesnt want to have to stay there if the place is hard to sell.
(3) Rent may be cheaper.
(4) Landlord has the upkeep expenses.
(5) Sometimes theres perks such as a community lawn care service.
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Young people need to start somewhere. Most have to work up to buying a house or may not do it at all depending on their area.
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Property tax is killer
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I know right TC? I mean, literally anyone can just go buy and live in their own property. It's not like things factor in like credit score, income, or affordability play into it at all. Any part-time McDonalds employee should just buy a house.
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A house appreciates by about 1.5 percent. A good stock reasonably appreciates at 11%.
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My landlord kicked me out because I told him I liked shopping at GameStop
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Resolution posted...

My landlord kicked me out because I told him I liked shopping at GameStop

I would have done the same.
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Where I live, getting a mortgage is actually less expensive than rent, assuming you can get a co-signer or just get one yourself.

The only problem is I really don't feel like the idea of settling down. I wish I lived in an area where Rent was affordable.
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Romulox28 posted...

Property tax is killer

If you own a home in my area valued at $700-$800k, your property tax per year is ~$2200-$2500. If your house is paid for, this is nothing. You pay that much MONTHLY in rent to some sleazy landlord around here.
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because not everyone can afford to buy a house.
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REMercsChamp posted...

Romulox28 posted...

Property tax is killer

If you own a home in my area valued at $700-$800k, your property tax per year is ~$2200-$2500. If your house is paid for, this is nothing. You pay that much MONTHLY in rent to some sleazy landlord around here.

Property tax in my state (NJ) is insane. I think the town I live in is close to 4%, and houses are very expensive in the northern part of the state, which is where the jobs are
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Romulox28 posted...

REMercsChamp posted...

Romulox28 posted...

Property tax is killer

If you own a home in my area valued at $700-$800k, your property tax per year is ~$2200-$2500. If your house is paid for, this is nothing. You pay that much MONTHLY in rent to some sleazy landlord around here.

Property tax in my state (NJ) is insane. I think the town I live in is close to 4%, and houses are very expensive in the northern part of the state, which is where the jobs are

4% is fucking ridiculous! The houses must be worth nothing
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REMercsChamp posted...

Romulox28 posted...

REMercsChamp posted...

Romulox28 posted...

Property tax is killer

If you own a home in my area valued at $700-$800k, your property tax per year is ~$2200-$2500. If your house is paid for, this is nothing. You pay that much MONTHLY in rent to some sleazy landlord around here.

Property tax in my state (NJ) is insane. I think the town I live in is close to 4%, and houses are very expensive in the northern part of the state, which is where the jobs are

4% is fucking ridiculous! The houses must be worth nothing

Thats the thing, houses in north jersey are expensive too.

The other day my wife and I stopped into a town house that had an open house. Pretty standard town house, small, no land, 3br, etc. listed at like $440k and the property tax is over 3% in that town.

NJ is fucking ridiculous. A lot of people are moving out now because they cannot afford to live here or retire here
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SaltyWet posted...

A house appreciates by about 1.5 percent. A good stock reasonably appreciates at 11%.

Have fun actually making such gains consistently. Yeah, it's possible, but far more likely you'll make much less or even lose money on the stock market. A safer index fund gives you about a 5% return and beats many professionally-managed funds over a lifetime. You're also not taking into account that after you've paid off the house, you don't have to make expensive monthly payments towards housing. Even if a house were to not appreciate at all, you get the value of a house that you can sell. With rent, you get nothing. It's a black hole.
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MabusIncarnate posted...

I know right TC? I mean, literally anyone can just go buy and live in their own property. It's not like things factor in like credit score, income, or affordability play into it at all. Any part-time McDonalds employee should just buy a house.

Dude, its like REMercs, all of his topics are satire.
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