Renter to Owner
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- nicole_marie
How many here are owner of homes or condos or tents... whatever.
I am curious because at what point you decided it was time to buy, what were the deciding factors in your life.
If your still renting, anyone thinking of buying right now, or waiting?
- brandelec0
bought right away, decided not to rent
really for investment and freedom to do anything to the space
- ceiling_cat0
It's too expensive to buy here.
- did you drop the shtick already? isn't it supposed to be: IZ 2 XPENSIF 2 BUI HEARGreedo
- Oh hai, rent mah tentz!harlequino
- oh mai, lazer eye tiemceiling_cat
- Greedo0
own a condo, decided to buy when we had a kid and needed more space, didn't like the transient apartment life anymore. we got tossed out of two previous apts because the owners went condo or wanted to hand it over to their spoiled asshole children as an early inheritance...
- brandelec0
i still think if you can afford it, own. but don't kill yourself financially just to own. renting works better for others.
- nicole_marie0
yea i am just to the point where i am hating the idea of throwing away money by renting but scared of being tied down by buying.
- fyoucher10
Was renting a really nice 1 bedroom apartment on the riverfront a few years ago, but was paying like $1600 a month which is a ton considering this isn't NYC or anything like it. Felt like I was spending too much money on something that ain't mine. Plus, I was limited to doing things to it, like I couldn't paint the walls. On top of that, I had neighbors who would complain about hearing music and the TV through the walls. Pain in the butt.
Then I went and bought a brand new home. I pay a lot more now, especially with property tax. It's mine and I'm building equity too. Plus, I can turn up the TV and music as loud as I want.
- brandelec0
you don't have to be stuck with it forever.. i'm not sure how it works there, but you get penalized for selling your property before your mortgage term ends and it's waived if you purchase another property within 3 months.
- bulletfactory0
owner. my wife bought our home before we were married. my wife was ~24 at the time of purchase - it was a great price for an awesome 2 story house built in 1898. Over the past 6 years, our renovations have doubled the value (even w/ struggling market), and we've just about got it paid off. Not sure if we'll keep it when we move, but she definitely doesn't want to see someone else fuck it up after we leave.
- ceiling_cat0
i can haz sugar mommie?
- you misspelled attentionbrandelec
- shut the fuck upRand
- sorry, didn't mean that, I have tourettesRand
- nah you're correct - shut the fuck up.bulletfactory
- monNom0
never owned but from what I can tell, it's a mixed blessing. You've got something that's you're building equity in, you can do whatever you want to it (unless it's a condo, which sounds like a bunch of BS due to strata), and eventually you'll own it and just pay for taxes/maintenance.
But at the same time, if the price is too high, you might be paying far more to rent the money from the bank and pay property taxes and maintenance costs than you would to rent an equivalent place. and you wouldn't have a giant debt hanging over your head in a sinking market.
For now I'm happily renting and saving my pennies.
- BattleAxe0
there has never been a better time to buy property than these spirited times and then there is this
http://www.usnews.com/blogs/the-…
- ceiling_cat0
There was a time where you could have bought a house in detroit for less than 5k
- too bad i just moved from detroit!nicole_marie
- There was a time you could buy a house anywhere for 5k. The 1930s come to mind.ETM
- nicole_marie0
yes i would definitely want to look at homes the problem is here, a home that isn't already completely gutted and upgraded is hard to find. and i want to do it myself, not only for financial reasons but because i also want to put my stamp on it before someone else has at it.
i should start looking if i want that 2009 tax break!
- nocomply0
I rent, but am seriously thinking about buying a place for the first time. I can't afford much more than a small apartment or condo, but I am convinced that owning is better than renting.
I think as you said, a lot of buying is about timing in life. My fiance is in grad school and she may not find a job in this city when she's done. It would be difficult to buy a place and then have to move away in less than a year, but I assume it can be rented out.
- nicole_marie0
nocomply >
that is a similar situation that i am in, thinking for 2 is much harder. not knowing if we will be here in a year, 2 years, but i am beginning to think that owning may be a better option no matter the outcome. if the right buy comes along.
- vaxorcist0
wish I never bought.... Owning may have been better than renting a few years ago, but these days it's a renters market, and my taxes and bills are going up while the value of the place is going down
- brandelec0
can't go wrong here right now with interest rates below 2%
- DrBombay0
It has it's ups and down. If a pipe bursts you are on the hook to fix it or pay a plumber hundreds of dollars to fix it... now.
- nicole_marie0
the part that is really bugging me is i would hate to miss out on this opportunity to buy while everything is so low and i could end up practically stealing a home.
- you can do it put your back into itbrandelec
- http://www.qbn.com/t…inkpink