[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 61 KB, 876x527, 1614056098708.png [View same] [iqdb] [saucenao] [google]
29628126 No.29628126 [Reply] [Original]

How is owning a house better than renting?
Renting
>all repairs and maintenance covered
>no cleaning your pool
>no mowing grass
>no paying for a new roof
>no property tax
>steady supply of Roasties to talk to

>> No.29628330

>>29628126
If renting was better than owning a house, why does someone else own your house?

>> No.29628512

>>29628330
They think 9% annual return is a good investment

>> No.29628797
File: 43 KB, 411x418, 1600175538156.jpg [View same] [iqdb] [saucenao] [google]
29628797

>>29628126
If you move from your apartment does your landlord give you your money back +appreciation?

>> No.29628840

>>29628512
its a 9% annual return on something you have to spend anyway you fucking retards
>pay $1500 a month for an apt
>evaporates
>pay $1800 a month for a house
>literally just acts like a savings account

anyone that does the anti house cope is either very very wealthy and the money doesn't matter at all or they're too poor to afford a down payment

COPE.

>> No.29629292

>>29628126
>Repairs never happen on time
>Upgrades/expansion never happen at all
>No pool/trampoline/dog run at all
>Still have to mow grass
>You have a shitty roof layed by spics
>You will never be able to leverage your rent for a loan
>You’re forced to talk to roasties

>> No.29629376

>>29628840
I came from a well off family. There was a short point of my life I had to work some shitty retail jobs before I hit my chosen career.
I had this argument all the time and could never make them understand.
Poor people really are just retards. Smart people can start or become poor but they don't stay there long without some other mental disorder

>> No.29629446

its nothing but a status symbol just rent and invest.

>> No.29629492

>>29628126
>all repairs and maintenance covered
rebate these on tax returns
>no cleaning your pool
why the fuck would u get a pool, literal waste of space
>no mowing grass
fair i guess
>no paying for a new roof
rebate on tax return
>no property tax
rebate on tax return
>steady supply of Roasties to talk to
if this is somethign u care about, congrats

been doing this for 2 years, my house is rented to students and i just claim and expense everything for repairs. Only had to go there twice this year.

>> No.29629554

>>29628126
>>29629492
but i also rent lmfao so who am i to fucking say shit

>> No.29629571

>>29628126
>Renting
>>all repairs and maintenance covered
lol

>> No.29629582

>>29628126
You're a slave if you don't own your place nor your wealth . You're trusting that someone who probably works for a jew or chinese (who deeply hates you) will not kick you out when rough times come.

>> No.29629610

I own and rent my house and i do all the repairs myself. Learn how to use power tools and 99% of the repairs you can manage unless youre retarded and want to pay a contractor to do a shittier job.

>> No.29629622

>>29628512
Where are you getting 9% from?

Is that the yoy growth in the value of the property?
Has it occurred to you that you're the one paying down the principal on a leveraged position that is paying someone else 9pc a year?

Stay cucked you massive faggot.

>> No.29629678

Put in a deposit, rent out the house. The tenant pays it off.

>> No.29629715

>29628512
You still have to pay property tax. And it's probably more than what a month of rent in a nice comfy centrally located 1 bedroom apartment costs.

>> No.29629765

Paying monthly mortgage is cheaper than rent.

Though I do have to pay the other costs- like fixing and upgrades. Which for a shitty house can be an obscene amount.

>> No.29629780

>>29628126
Equity
/thread

>> No.29629806

>>29628126
it depends on your situation anon. you have to look at the pros and cons of renting vs. buying and if the amount you'd be paying on equity of the home is in line with how much you'd like to be paying each month.

there's also transactional costs to consider if you don't plan on staying in one abode for a long time.

>> No.29629811 [DELETED] 

>>29629715
The only way you will pay less a month in property tax is if you live in a landlocked D grade city where Applebees is where people go to celebrate a birthday

>> No.29629832

>>29629678
just get a renter bro its EZ......

look at this faggot

>> No.29629863

>>29628126
its not
its just boomers trying to shill you their bags
renting is stress free and best option until you want kids

>> No.29629871

>>29628126
Unless your tenant is a piece of shit or a nigger, you don't have to worry about repairs for at least three years.

>> No.29629887

>>29629715
The only way you will pay less a month in property tax is if you live in a landlocked D grade city where Applebes is where people go to celebrate a birthday

>> No.29629912

>>29629780
>muh Equiitty

you will die before you even get to use it.

>> No.29629921

>>29628126
Depends on the property but in general you are protecting yourself from inflation.

>> No.29629990

>>29628126
the traditionalist will tell you the truth of it:
Get married, buy a house, have a family, pay off house, die, children have house, children either live in house and only have minimal overheads to save up cash, or children sell house have a bunch of cash, buy a house somewhere else, live easier.

>> No.29629991
File: 123 KB, 973x868, 6c74a5ab64a0a0152c98ba7fa16f143c.jpg [View same] [iqdb] [saucenao] [google]
29629991

>>29629582
luckily those same people dont own my mortgage

>> No.29630019

>>29629446
How is buying a house a status symbol when you could just was easily rent a nice place and no one would know the difference?

>> No.29630124

>>29628126
Cause you can sell your house and get your money back, usually more than what you paid for it

>> No.29630229

>>29628126
The only time renting is preferable is if you find yourself in a temporary living situation, in which case I understand, but ultimately owning is ALWAYS the better alternative.

>> No.29630236

Owning a house comes with a lot of costs that people ignore for some reason.

Im not saying you shouldn't buy one, you should, but with the security you get with owning your own home, it also comes with the downsides of it being very expensive to maintain

If you dont think it is expensive to maintain, you probably live in a dump that would be listed as uninhabitable if anyone inspected the place

>> No.29630333

>>29629991
I won't have a mortage, when I make it I'll use enough saved silver to borrow money from a pawn shop, buy the house and leave them my silver if it bothers me to repay it.

>> No.29630364
File: 470 KB, 1195x1600, 145EDCA1-388D-46BA-9C82-F565E2847A98.jpg [View same] [iqdb] [saucenao] [google]
29630364

The only reason you really need to hear is that in an apartment you have annoying and lousy neighbors up and down, and it8s impossible not to be annoyed by them, there will come one moment where you get frustrated and repressed for hearing your apartment neighbors practicing an instrument/arguing/making a party/having a baby crying

Living in an apartment is shit, I did it during my university period and I totally hated it

>> No.29630485

>>29630333
based /pmg/ bro, i assume you're renting currently then...

>> No.29630493

>>29628126
>having to pay 600 dollars a month plus utilities for a 1 bedroom kitchen bathroom flat you don't even own
compared to:
>not buyin a 50 grand fixerupper in a good neighborhood
you put in some elbow grease and not only do you have a place that ll you have to worry about is property taxes and utilities, you can also rent it out to other schlub morons who would rather rent than own.

>> No.29630623

>>29628126
>>all repairs and maintenance covered
kek

>> No.29630731

>>29630623
you can try to explain and he still wont get it.

>> No.29630885

>>29629780
> Near 0% interest rates
Enjoy your >equity.

>> No.29631144

>>29630364
If you live in an expensive building with good soundproofing and wealthy neighbours that likely won’t be a problem.

>> No.29631366

>>29628512
It is when you can take out collateralized loans and have it pay for itself.

>> No.29631467

>>29628126
Depends if you were smart enough to save enough money to pay for rent after you eventually retire. You don't want to have to work forever just because you have a permanent monthly payment.

>> No.29631561

>>29630364
im for owning your home but you act like shitty neighbors is exclusively a renting problem

>> No.29631804

With the mortgage, property taxes, heat, water, hydro, and inevitable expenditures on repairs, the ongoing cost of ownership of a house is higher than renting a apartment. You do build equity, but you are paying a massive premium (interest over amortization) to retain that equity.

The only way you “win” from traditional home ownership is in the appreciation of the house price when you sell.

Ask yourself, how much will it cost me to own this asset? how much do I think this asset is going to appreciate over the time I own it?

>> No.29632094

>>29628840
I'm not sure what commiefornia is like but here a mortgage doesn't cost more than rent. Literally no reason to rent unless you just enjoy being a cuck paying off someone else's home.

>> No.29632191

>>29628126
Equity. Every payment you make you're closer to owning an appreciating asset.
You just have to be careful about choosing neighborhood, school zones, crime rates, etc. which will hurt your property values.

>> No.29632515

>own house
>roommates pay rent
>no mortgage, electric, internet, food bills

>> No.29632687

>>29632515
Why the fuck would you buy a house only to get room mates...

Defeats the entire fucking purpose.


Dont buy a house unless you plan on having a family. Its fucking pointless otherwise.

>> No.29632733

>>29632515
I would totally do this, but I'm introverted as fuck and can only see a minefield of pain if I went down this road. Especially with female roommates.

>> No.29632740

>>29628126
>all repairs and maintenance covered
>>no cleaning your pool
>>no mowing grass
>>no paying for a new roof
>>no property tax
this is like $350 a month after you factor in paying off the principal on your mortgage and building equity.

>> No.29632808

>>29628126
You're delusional if you don't think you pay for any of this.

If you're in an apartment complex, which it sounds like you are, those costs are spread out across the tenants, but every person renting is paying for those services, not the landlord.

>> No.29632910

Show me 1 successful person that does not own their own house and instead rents.

>> No.29632967

Interest + repairs + property tax is far lower than rent prices here.

Sure, I also need to pay off principle which makes it cost a little more but that is going into a stable decent return asset. I think you get more roastie benefits owning your own home than you do renting, you get other benefits as well mostly freedomwise with your own home, sure, you're still a cuck to your bank but atleast you're not a cuck to your landlord and their bank.

Also rent prices rise quite rapidly, you think 9% is low but it's more like 15% in true value as you dodge the rent increases. Sure, it may be low compared to crypto but that's not the point, you need to diversify and the long term stability a home offers benefits a lot of people.

>> No.29633013

>>29632910
>who is grant cardone

>> No.29633217

>>29632687
To increase your equity pleb

>> No.29633253

>>29629678
Covid hits tenant quits paying, you can't evict, bank still wants money, govt still wants taxes

>> No.29633323

>>29628126
All renties in the thread:
Reminder that your rent is due next Friday. Don’t forget to tip.
My mortgage isn’t going to pay itself off you know. Pleasure doing business with you.
t. Landlord

>> No.29633466

>>29628126
I know you are playing dumb but just in case some actual retard comes in here and doesn't know it, you very literally pay for all of it. Obviously. No landlords are sitting there losing money to give you a well kept place to live.

>> No.29633598
File: 104 KB, 1024x1007, 00EDE691-BF51-43AF-A9DD-71F97E79BABF.jpg [View same] [iqdb] [saucenao] [google]
29633598

>>29628126
tl;dr
housing will never get cheaper, it might dip but so do stonks and crypto but it always goes back up so anyone trying that argument is retarded. I was 19 when the market crashed to 7k in 2008 now it’s almost 32k

depends on how long you’re going to stay in one area
I rented for 5 years because work had me bouncing all over the state randomly every 12-18 months so I’d move closer to where they sent me
after 5 years I bought a house once things settled down, the mortgage/rent payment stayed the same then the eternal insurance/tax jew appeared on my monthly expenses now

bought my house for $159k close to housing bubble recovery, it’s now worth $190k and I owe $140k so I will recoup some of my “invest” when I sell to upgrade
been here 6 years in a house build in the mid 90’s and my only expense was a water heater ($700) and hvac fan failing ($400). but the roof will need to be replaced in 5-10yrs probably ($10k) and I’ll probably buy a new hvac ($3k) in a year or two cause bitch is old and they don’t last longer than 10yrs usually

tl;dr x2
lived here for 6yrs and spent $1200 in repairs and $5k for property taxes for a 30yr old house, will obviously go up the longer I stay. all while potentially profiting $30k when I sell that would have been gone to renting

>> No.29633668

>>29633466
This, they increased maintenance/quality requirements for investment properties in my country and rents went through the roof. Now we have a lot of rentcucks crying that rent is too high

>> No.29633833

>>29633598
Where are you from that your house has only appreciated 20% in 6 years? Also that one slice without any pepperoni is unholy

>> No.29633857

>>29628126
rent can be raised

>> No.29633986

>>29632910
I know a number of business/investing guru types on social media who rent and brag about it. And if you look at the rental market for any big city you can see tons of places that go for $4,000+ or even $10k+ per month, obviously the people who rent those are rich.

>> No.29634645

>>29633833
TN
I haven’t gotten it appraised I’m just going off the low end, 2 new houses same size as mine down the road sold for $220k 2 years ago. they were virgin vinyl siding and mine is chad brick

but they were new, ballpark figure Im probably looking at $200k as it sits, $220 if I replace the roof and hvac and pocket a $5k profit and I’d need to touch up the paint on the inside and out

then you have realtor jews who will take their 6-8% so I’ll be lucky to walk away with $40k in my hands after it’s all said and done if I sold in 2yrs

>> No.29634746

>>29629887
kek

>> No.29635609

>>29629492
You can only deduct these expenses if you are earning income on your property, most probably rental income from tenants. If it's a house only you live in none of these are deductible.

>> No.29635658

>>29632094
It's like that literally almost everywhere to be honest.

Renting only makes sense if you cannot come up with a down payment yet or are planning to move in a relatively short amount of time (5-7 years so you can build some equity)/move frequently for work.

>> No.29635783

>>29628126
there is no way to know which is better because it is subjective. some people might want to live in a specific area and can't afford the price of property and wants to rent whereas someone might not give a shit living in the middle of nowhere so it's cheap to own.

>> No.29635839

>>29630364
Next time rent in a concrete apartment instead of one made of fucking plywood.

>> No.29636079

>>29628840
sure until the economy crashes and your house goes down in value 90% and you're still on the hook for your full mortgage

>> No.29636422

>>29636079
Your house doesn't become any less of a house if the us dollar tanks. Its value will adjust according to inflation.

>> No.29636461

I agree with you anon. The only times I use my apartment are for sleeping and the occasional breakfast. I spend most of my times at work or other public places. Why buy something that you will hardly use?

>> No.29636606

>>29629292
you forgot
>you will never be a woman

>> No.29636615

>>29635839
that will literally 5-10x his rent

>> No.29636625
File: 521 KB, 1080x1055, 1607372464373.jpg [View same] [iqdb] [saucenao] [google]
29636625

nah I'm just gonna blow my money on rent and not be stuck in the same place forever, the first decade of mortgage is just paying the jew back first

>> No.29636717

>>29636625
Either way you pay the jew anon. You may as well get something at the end of it all.

>> No.29636727

My rent is 570 with utilities included.

>> No.29636837

Guys I'm thinking of buying a fourplex for around 200k. It's not the prettiest house. The property tax assessment is $140k. It's a bit of a ghetto house, but decent enough to live in and in good shape inside. I could rent out 2 1 bed room apartments for 500-600 and another for around 700 (2 bedroom). And live in the fourth apartment.
I have maybe 10k saved to pull the trigger on an FHA, but how fucked will I be with pmi?

I don't have any equity besides this sum I've saved up the past year.

>> No.29636986

>>29628512
imagine thinking a 9% return every year is bad lol

>> No.29637041

>>29636986
You could easily buy a btc with the down-payment money, with zero slippage, and make 9% in one day

>> No.29637213

>>29632733
Nah, it’s actually great. Nobody wants to mess with someone they have to live with. Having roommates is the only reason I have any social skills at all.

>> No.29638542

>>29628126
My mortgage is cheaper than the rent would have been. Saving for a deposit is easy AF. Just stop spending money for a few years.

>> No.29639461

>>29628126
a thread died for this

>> No.29640992

>>29636837
Iirc fha can only be used for single family homes. Will need to go traditional mortgage and probably come up with a larger down payment.

>> No.29641126

>>29634645
Realtors are obsolete. Just sell it yourself.

>> No.29642367

>>29632094
>Literally no reason to rent
A lot of poor people have trash credit.
Can't get a mortgage with shit credit.

>> No.29642618

>>29628126
>when you realize that all good investments are just shorts on fiat currency
>when you realize the only way to get banks to give you 5x leverage at a low interest rate to short the USD by buying a house.
It’s basically bond buyers (the garbage gets bought up by the government periodically through bailouts) giving you free money if you have the 20% down and good credit.

>> No.29642644

>>29636837
Don't live close to your tenants.