Current Events > Why do people live in apartments or rent houses to begin with?

(+) Yeah! (+)

Aren't you just throwing money away when you do that? :u Why not just live at home till you can save up money for your own house?
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Lol @ TC.
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No I'm saving actually

People don't want to live with mommy until they're 30 and people don't want to be stuck in one place for 10+ years. When you rent you also aren't responsible for maintenance. Not to mention not having a mortgage payment.
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I bought my house when I was 30, and that was after finishing college and getting a full time job and getting married. It would not have been practical for me to buy a house before having all that stuff worked out, nor would I have been likely to secure a loan to do so. And I sure as hell wasn't going to keep living with my mom.
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I Like Toast posted...

People don't want to live with mommy until they're 30 and people don't want to be stuck in one place for 10+ years. When you rent you also aren't responsible for maintenance. Not to mention not having a mortgage payment.

I wonder, does the house payment end up costing more than renting when you factor in maintenance?
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There are a crap ton of reasons why renting can be a much better deal than owning a home. Some of them have already been stated in this topic.
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I rented a house for three years because I had no plans on staying there longer. If you rent you can leave easier than if you buy. Sometimes it can take years to sell a house, and I didn't want to be stuck there.
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Nomadic View posted...

I rented a house for three years because I had no plans on staying there longer. If you rent you can leave easier than if you buy. Sometimes it can take years to sell a house, and I didn't want to be stuck there.

Why not buy a mobile home then instead? Then you could just move it to where ever you wanted to live. :o Like a turtle.
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OpheliaAdenade posted...

Nomadic View posted...

I rented a house for three years because I had no plans on staying there longer. If you rent you can leave easier than if you buy. Sometimes it can take years to sell a house, and I didn't want to be stuck there.

Why not buy a mobile home then instead? Then you could just move it to where ever you wanted to live. :o Like a turtle.

Turtle appropriated

OpheliaAdenade posted...

I Like Toast posted...

People don't want to live with mommy until they're 30 and people don't want to be stuck in one place for 10+ years. When you rent you also aren't responsible for maintenance. Not to mention not having a mortgage payment.

I wonder, does the house payment end up costing more than renting when you factor in maintenance?

Not just maintenance. Taxes, insurance, pmi (most cases), hoa fees (some cases), other random crap. Home ownership is expensive
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I'm not a millionaire so I doubt I'll afford a house in this lifetime unless there's a massive crash.
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does a mobile home count as a home when it comes to taxes and fees and everything? :u
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OpheliaAdenade posted...

I Like Toast posted...

People don't want to live with mommy until they're 30 and people don't want to be stuck in one place for 10+ years. When you rent you also aren't responsible for maintenance. Not to mention not having a mortgage payment.

I wonder, does the house payment end up costing more than renting when you factor in maintenance?

a mortgage is almost always going to be more than rent, even of a comparable size, without factoring in maintenance.

you really have a lot to learn, young grasshopper. :u
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Giant_Aspirin posted...

OpheliaAdenade posted...

I Like Toast posted...

People don't want to live with mommy until they're 30 and people don't want to be stuck in one place for 10+ years. When you rent you also aren't responsible for maintenance. Not to mention not having a mortgage payment.

I wonder, does the house payment end up costing more than renting when you factor in maintenance?

a mortgage is almost always going to be more than rent, even of a comparable size, without factoring in maintenance.

you really have a lot to learn, young grasshopper. :u

Hmm... I guess I just always assumed that owning something was cheaper than just being loaned it. :u Houses must be more complicated.
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OpheliaAdenade posted...

Giant_Aspirin posted...

OpheliaAdenade posted...

I Like Toast posted...

People don't want to live with mommy until they're 30 and people don't want to be stuck in one place for 10+ years. When you rent you also aren't responsible for maintenance. Not to mention not having a mortgage payment.

I wonder, does the house payment end up costing more than renting when you factor in maintenance?

a mortgage is almost always going to be more than rent, even of a comparable size, without factoring in maintenance.

you really have a lot to learn, young grasshopper. :u

Hmm... I guess I just always assumed that owning something was cheaper than just being loaned it. :u Houses must be more complicated.

Huh? Owning damn near anything is generally going to cost more than renting it (almost always in the long run, but very often even in the short run)
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Twin3Turbo posted...

Huh? Owning damn near anything is generally going to cost more than renting it (almost always in the long run, but very often even in the short run)

Think of it like this... if I pay 5 dollars to rent a pair of shoes every time I go bowling, once I go 10 times I'll have spent 50 dollars on shoes. Now say I buy my own pair of bowling shoes for 50 dollars and go bowling with them 11 times. :v I've now saved 5 dollars because I didn't have to rent the shoes.

I assumed houses worked the same way.
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OpheliaAdenade posted...

Twin3Turbo posted...

Huh? Owning damn near anything is generally going to cost more than renting it (almost always in the long run, but very often even in the short run)

Think of it like this... if I pay 5 dollars to rent a pair of shoes every time I go bowling, once I go 10 times I'll have spent 50 dollars on shoes. Now say I buy my own pair of bowling shoes for 50 dollars and go bowling with them 11 times. :v I've now saved 5 dollars because I didn't have to rent the shoes.

I assumed houses worked the same way.

Ah you're talking about little/simple stuff

I thought we were talking strictly about houses and boats and cars and stuff. Perhaps I shouldn't have made the assumption.
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https://www.youtube.com/watch?v=YHU_KLYhibI
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Twin3Turbo posted...

OpheliaAdenade posted...

Twin3Turbo posted...

Huh? Owning damn near anything is generally going to cost more than renting it (almost always in the long run, but very often even in the short run)

Think of it like this... if I pay 5 dollars to rent a pair of shoes every time I go bowling, once I go 10 times I'll have spent 50 dollars on shoes. Now say I buy my own pair of bowling shoes for 50 dollars and go bowling with them 11 times. :v I've now saved 5 dollars because I didn't have to rent the shoes.

I assumed houses worked the same way.

Ah you're talking about little/simple stuff

I thought we were talking strictly about houses and boats and cars and stuff. Perhaps I shouldn't have made the assumption.

Well, I just kind of assumed it would hold true for bigger things too. :u Just... bigger numbers.
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OpheliaAdenade posted...

Twin3Turbo posted...

OpheliaAdenade posted...

Twin3Turbo posted...

Huh? Owning damn near anything is generally going to cost more than renting it (almost always in the long run, but very often even in the short run)

Think of it like this... if I pay 5 dollars to rent a pair of shoes every time I go bowling, once I go 10 times I'll have spent 50 dollars on shoes. Now say I buy my own pair of bowling shoes for 50 dollars and go bowling with them 11 times. :v I've now saved 5 dollars because I didn't have to rent the shoes.

I assumed houses worked the same way.

Ah you're talking about little/simple stuff

I thought we were talking strictly about houses and boats and cars and stuff. Perhaps I shouldn't have made the assumption.

Well, I just kind of assumed it would hold true for bigger things too. :u Just... bigger numbers.

Well the biggest difference between a pair of shoes and a say a house in general is:

1. You put down a down payment and continue to pay into it over time (99% of cases).You don't do that with a pair of bowling shoes

2. You're going to have to pay for maintenance and repairs and interest(99% of cases) on a house.

3. You'll also have to pay insurance.

Basically there are extraneous expenses with owning a house compared to owning shoes, where you just make a purchase and never have to put any more money into the asset.
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i cannot afford a house at the moment and i dont want to be saddled with a mortgage since im still working on trying to find out where i'll wind up career wise
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Dude I'm constantly going back and forth on what kind of place I should get.

Part of me is like "yeah, buy a house, be a property owner! It'll be cool having legitimately your own place"

And then part of me is like "you don't want to do that, it's way too expensive. Just get an apartment or something"

And then another part of me is like "gross, you don't want to share your living space with complete strangers, don't live in an apartment. Build yourself one of those Tiny Houses. Those are affordable and it'll be your own thing"

But then another part of me is like "but won't that be kind of a pain in the ass getting water and electricity hooked up? And will you even be able to find a place to keep your Tiny House?"

It just seems like so many complications, but I need to move out soon. I'm way too old to still be living at home, but they certainly don't make it easy these days.
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the other thing about moving out is that all my stuff is here. I have so many things. :v
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