Current Events > If you have the credit, why would anyone Rent over owning a home ?

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cjsdowg
01/22/22 8:05:00 AM
#1:


Besides not having to fix your own stuff is there anything good about renting compared to owning ?

Thanks for the input so far guys.

I ask because just for me, compare to owning and renting. owning save me money. And I was thinking that people are being taken advantage of from renting. But I see a number of a good reason to rent.

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Turbam
01/22/22 8:08:11 AM
#2:


If you don't have enough saved up

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cjsdowg
01/22/22 8:10:26 AM
#3:


Turbam posted...
If you don't have enough saved up

If you are first time home owner. You can get some loans with Zero down payment and such.

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Fony
01/22/22 8:18:04 AM
#4:


I have good credit, make $115K and have just over $37,000 in the bank right now. I moved to Pittsburgh for health reasons(kidney transplant and NY has an 8 year waitlist). They're already looking for a match for me and I don't want to live here permanently.

I don't have solid plans past getting my surgery, everything is up in the air. Renting makes sense for me.

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Tenlaar
01/22/22 8:18:14 AM
#5:


Ease of movement, for one. Everybody doesnt want to tie themselves so firmly to one location.
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rexcrk
01/22/22 8:18:22 AM
#6:




I cant really afford any crazy maintenance if it comes up.


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Unsugarized_Foo
01/22/22 8:20:44 AM
#7:


Some people just like the convenience and will pay. My aunt's that way

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emblem boy
01/22/22 8:39:46 AM
#8:


Not sure if you'll be living there for a long period of time.

Not looking the homes available where you can afford one.


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TheShadowViper
01/22/22 8:46:27 AM
#9:


Many people want to live in certain areas with certain housing and do not have the means - or it is quite simply completely unavailable - besides renting.

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XxAxem_BlackxX
01/22/22 8:52:00 AM
#10:


I don't see the point of owning your own home. You never truly own it since you have to pay property taxes on it forever and that means you're basically renting it from the government, On top of that you have to pay for all your own repairs and you still have to follow laws when it comes to what you can and can't put on the outside of your home. It seems better to just rent a house forever.
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PoundGarden
01/22/22 9:12:36 AM
#11:


XxAxem_BlackxX posted...
I don't see the point of owning your own home.

You have no idea how awesome it is not having a rent or mortgage payment

XxAxem_BlackxX posted...
You never truly own it since you have to pay property taxes on it forever and that means you're basically renting it from the government,

Property taxes are not that bad, avg is like $1000. Sucks but what can ya do

XxAxem_BlackxX posted...
On top of that you have to pay for all your own repairs

True, but I can also do wtfever I want as far as remodeling

XxAxem_BlackxX posted...
and you still have to follow laws when it comes to what you can and can't put on the outside of your home.

I mean, unless you want to have nude sculptures or a minefield it's really not an issue. Have you ever seen another house? People do whatever

XxAxem_BlackxX posted...
It seems better to just rent a house forever.

Lol no. Have fun worrying about making rent each month when you're in your 60s+

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Veggeta_MAX
01/22/22 9:15:35 AM
#12:


cjsdowg posted...
If you are first time home owner. You can get some loans with Zero down payment and such.
You still have to find the right home that's for you which isn't easy.

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teep_
01/22/22 9:17:36 AM
#13:


Why would I want to take out a loan?

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J03can
01/22/22 9:22:13 AM
#14:


I'm renting right now because home prices are insane. I used to own a house and I made a ton of money off of it that's sitting in a TFSA

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indica
01/22/22 9:24:31 AM
#15:


Not that I don't necessarily agree with you but...
PoundGarden posted...
You have no idea how awesome it is not having a rent or mortgage payment
Most people take a out 30-year mortgage so, yeah, they be stressiing that until their 60s-70s
Property taxes are not that bad, avg is like $1000. Sucks but what can ya do
Depended where you live--I've seen much higher than 1k and some a little lower. Also, lots of developments over the last couple decades have HOAs which can be up to a couple hundred a month with little to show in terms of services for them, plus some are super snaughy and fine you for every little thing, all of which can really add up...
I mean, unless you want to have nude sculptures or a minefield it's really not an issue. Have you ever seen another house? People do whatever
Yeah, not really an issue unless you have dick neighbors who like to tattle on you, which happens a lot...
Lol no. Have fun worrying about making rent each month when you're in your 60s+
Well, there are definitely huge discounts on rent for seniors in most urban areas, but if you're able to have a house without HOAs then it's around this age that it really becomes worth it...

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whitelytning
01/22/22 9:41:19 AM
#16:


Sometimes I miss renting because I didnt have to worry about anything. I just spent $12k to get something in the crawl space of my house fixed. I got stung by at least 20 bees while mowing this year. Nothing worse than wanting to do nothing on the weekend but having the grass be long and not wanting to be a shitty neighbor (and I hate mowing to begin with). Im afraid of heights but have to clean the crap off the roof every once in a while. I spent like an entire day trying to fix the dumb garage door. I stress anytime there is a hurricane coming because something might fall on the roof.

Renting is just easier. You dont have to worry about things breaking or paying for shit. Its easier to move around and can be cheaper.

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Xavier_On_High
01/22/22 9:42:28 AM
#17:


I move around so much due to work that a mortgage isn't really feasible for me.

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CharlesBronson
01/22/22 9:46:42 AM
#18:


because if you get fried then the banks going to come knocking and take everything you own but if you rent you can sleep on a bench and keep all your money, thank you.
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GALA462
01/22/22 9:50:29 AM
#19:


cjsdowg posted...
If you are first time home owner. You can get some loans with Zero down payment and such.

That's just really foolish to do though.

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harley2280
01/22/22 10:13:23 AM
#20:


indica posted...
Most people take a out 30-year mortgage so, yeah, they be stressing that until their 60s-70s

You do know you can pay it off long before then? Making extra payments saves you tens of thousands in interest. Paying the bear minimum on any type with interest is stupid.

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Buzz Killjoy
01/22/22 10:17:46 AM
#21:


Why own one property when you can own two and lord over one land while living in the other.

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Jiek_Fafn
01/22/22 10:22:42 AM
#22:


harley2280 posted...
You do know you can pay it off long before then? Making extra payments saves you tens of thousands in interest. Paying the bear minimum on any type with interest is stupid.
Eh
There are a lot of cases where you can outpace that interest by instead putting that money into investments.

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harley2280
01/22/22 10:25:48 AM
#23:


Jiek_Fafn posted...
Eh
There are a lot of cases where you can outpace that interest by instead putting that money into investments.

A house is one of the best investments you can put money into.

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Glob
01/22/22 10:34:18 AM
#24:


cjsdowg posted...
If you are first time home owner. You can get some loans with Zero down payment and such.

Not since 2008 over here.

The deposit is all it's about here.

Really the only advantage to renting is that it's easier to move.
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Jiek_Fafn
01/22/22 10:46:27 AM
#25:


harley2280 posted...
A house is one of the best investments you can put money into.
Yeah, but whether it's completely paid off or not is irrelevant to that. You can still sell it either way. If my loan is like 3% and I can make more than 3% in investments, then it's better to put that money into the investment.

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harley2280
01/22/22 10:51:11 AM
#26:


Jiek_Fafn posted...
Yeah, but whether it's completely paid off or not is irrelevant to that. You can still sell it either way. If my loan is like 3% and I can make more than 3% in investments, then it's better to put that money into the investment.

Fair enough

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Rexdragon125
01/22/22 10:58:08 AM
#27:


whitelytning posted...
Sometimes I miss renting because I didnt have to worry about anything. I just spent $12k to get something in the crawl space of my house fixed. I got stung by at least 20 bees while mowing this year. Nothing worse than wanting to do nothing on the weekend but having the grass be long and not wanting to be a shitty neighbor (and I hate mowing to begin with). Im afraid of heights but have to clean the crap off the roof every once in a while. I spent like an entire day trying to fix the dumb garage door. I stress anytime there is a hurricane coming because something might fall on the roof.

Renting is just easier. You dont have to worry about things breaking or paying for shit. Its easier to move around and can be cheaper.
This. It's always fucking something.

The roof is leaking, the hot water tank is leaking, the water heater died, the furnace died, the toilet is leaking, the sink is leaking, the garage door motor died, the refrigerator compressor died, the electric stove is malfunctioning
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indica
01/22/22 11:11:02 AM
#28:


harley2280 posted...
You do know you can pay it off long before then? Making extra payments saves you tens of thousands in interest. Paying the bear minimum on any type with interest is stupid.
Calling poor people stupid--you've shown your ignorance and lack of empathy arising from what is most likely privilege >_>

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harley2280
01/22/22 11:15:07 AM
#29:


indica posted...
Calling poor people stupid--you've shown you're ignorance from privilege and should feel ashamed for it >_>

Having growing up on Medicaid and food stamps that's going to be a no from me dawg. If you can't afford to make more than that its a completely different thing. Long term though making minimum payments costs more, and if you have the ability to make more than just the minimum payment than it is stupid to not do so.

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harley2280
01/22/22 11:20:12 AM
#31:


indica posted...
lol who you calling dawg? If you grew up poor and have this attitude then I guess you're just a dick >_>

So you think it's not stupid to pay the bare minimum if you have the ability to pay more than that? Or are you just trying to be self-righteous, but instead you're being illiterate?

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indica
01/22/22 11:20:44 AM
#32:


lol who you calling dawg? If you grew up poor then you should have more empathy for all those people who can't afford to do that. Instead, you just sound like a heartless jerk...

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harley2280
01/22/22 11:21:08 AM
#33:


indica posted...
lol who you calling dawg? If you grew up poor then you should have more empathy for all those people who can't afford to do that. Instead, you just sound like a heartless jerk...

harley2280 posted...
So you think it's not stupid to pay the bare minimum if you have the ability to pay more than that? Or are you just trying to be self-righteous, but instead you're being illiterate?


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indica
01/22/22 11:21:35 AM
#34:


harley2280 posted...
So you think it's not stupid to pay the bare minimum if you have the ability to pay more than that? Or are you just trying to be self-righteous, but instead you're being illiterate?
How is being too poor to afford to do that stupid? This is why you sound like a dick...

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harley2280
01/22/22 11:23:52 AM
#35:


indica posted...
How is being too poor to afford to do that stupid? This is why you sound like a dick...

Holy fuck you are illiterate.

harley2280 posted...
If you can't afford to make more than that its a completely different thing. Long term though making minimum payments costs more, and if you have the ability to make more than just the minimum payment than it is stupid to not do so


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indica
01/22/22 11:26:10 AM
#36:


harley2280 posted...
You do know you can pay it off long before then? Making extra payments saves you tens of thousands in interest. Paying the bear minimum on any type with interest is stupid.
This is your original statement. You're just backpedaling. You know what you said and you should feel ashamed about it... >_>

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WingsOfGood
01/22/22 11:27:14 AM
#37:


The answer is, if you will only live in the area for 2 years an apartment is usually better.

This is because after closing costs and such, it takes more than 2 years usually to just break even selling the house (though last year was a bit unusual on this front).

You can rent it out but there is other considerations here like higher taxes, laws, etc.
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harley2280
01/22/22 11:28:20 AM
#38:


indica posted...
This is your original statement. You're just backpedaling. You know what you said and you should feel ashamed about it... >_>

What are you even on about? You pointed something out and I gave clarification. That's not back pedalling that's called a conversation you git.

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lilORANG
01/22/22 11:30:47 AM
#39:


Some people don't wanna do lawn care

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indica
01/22/22 11:32:41 AM
#40:


harley2280 posted...
What are you even on about? You pointed something out and I gave clarification. That's not back pedalling that's called a conversation you git.
Calling people who can't afford to payoff their 30-year mortgage "stupid" is ignorant and heartless, so instead we're now having a conversation about that. If you need to "clarify" why you called specific people "stupid" I think you need to learn better conversational skills because, again, it makes you sound like a dick...or a "git" if you prefer

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harley2280
01/22/22 12:53:32 PM
#41:


indica posted...
Calling people who can't afford to payoff their 30-year mortgage "stupid" is ignorant and heartless, so instead we're now having a conversation about that. If you need to "clarify" why you called specific people "stupid" I think you need to learn better conversational skills because, again, it makes you sound like a dick...or a "git" if you prefer

You're either trolling or have a grade school level of reading comprehension. Either way we're done here dawg.

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JTilly
01/22/22 12:54:07 PM
#42:


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#43
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indica
01/22/22 8:41:34 PM
#44:


harley2280 posted...
You're either trolling or have a grade school level of reading comprehension. Either way we're done here dawg.
Don't call me "dawg"...and you're obviuously using that colloquilism to pretend you come from a background you don't. Just step up and admit your ignorance and lack of care for your fellow humans...

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