This topic is locked, no replies allowed. Inaccurate or out-of-date info may be present.

  • Print

Topic: renting - buying  (Read 2326 times)

Gerianne

    US flag
    View Profile
  • Gold Member
  • ********
  • Posts: 2621 (since 2010)
  • Thanked: 35x
renting - buying
« on: March 26, 2017, 07:27:10 am »
I have a friend in New Orleans.
He has rented his apartment for a long many years.
The rent has gotten too high.
He just bought a house.
A smart decision comes at the right time.

sak4kat

    US flag
    View Profile
  • Gold Member
  • ********
  • Posts: 2569 (since 2011)
  • Thanked: 96x
Re: renting - buying
« Reply #1 on: March 26, 2017, 07:45:29 am »
We rent - been renting for going on 10 years.  I've owned a home before and vow to never do that again.  I dream of RV'in full time someday.  With a home - I'd feel tied to one spot.  As long as we can rent for a decent price - I think if I knew then what I know nowmy view on homeonwing would be different.

gsdoss

    US flag
    View Profile
  • Silver Member
  • *******
  • Posts: 1249 (since 2014)
  • Thanked: 23x
Re: renting - buying
« Reply #2 on: March 26, 2017, 09:08:16 am »
We rent and that is ok for now

wilberk

    US flag
    View Profile
  • Full Member
  • ***
  • Posts: 160 (since 2016)
  • Thanked: 6x
Re: renting - buying
« Reply #3 on: March 26, 2017, 09:51:59 am »
Sounds pretty lucky!
I cant wait to own my own house but I am still in college so itll be awhile before that happens.

Tresbn00

    US flag
    View Profile
  • Gold Member
  • ********
  • Posts: 3551 (since 2009)
  • Thanked: 205x
Re: renting - buying
« Reply #4 on: March 26, 2017, 10:47:18 am »
I have been an owner since I was eighteen when I bought my first duplex. The payments were always considerably less than it would have  be for me to have rented in the area that I lived. This was only one consideration. With the duplexes that I owned the mortgage payment was generally paid for by my tenants. My mortgage payments, initially, were primarily interest and interest paid on a mortgage is tax deductible. I am able to sell a property, after two years, and not have to pay interest on profits of up to two hundred and fifty thousand dollars. I have had properties in Wisconsin and Colorado and never felt tied down or imprisoned by my real estate holdings. I have been looking for a property to buy near my daughter's college but have not found any good deals. My son is looking at going to college in either Florida or California and I feel comfortable in saying that we will be buying a property near his college.

just6bp

    US flag
    View Profile
  • Newbie
  • *
  • Posts: 12 (since 2017)
  • Thanked: 0x
Re: renting - buying
« Reply #5 on: March 26, 2017, 12:02:18 pm »
renting can be a great idea for so many reasons.  When it is time to replace a roof is when i wish i was a renter!!

potluck6

    US flag
    View Profile
  • Platinum Member
  • *********
  • Posts: 4021 (since 2011)
  • Thanked: 111x
Re: renting - buying
« Reply #6 on: March 26, 2017, 12:04:35 pm »
We bought our house in 2008 when the housing crisis was happening. Bought a foreclosed home for a good price.Have refinanced ,and have a decent mortgage payment. My son on the other had is renting paying 2075.00 a month for a 3 bd,1 bath. He wants to buy but all house are 500,000  maybe 400,000 if he commutes . Where he lives is about 25 minutes from San Francisco where a one bd. is 2000.00 or more its pretty crazy. Oh his wifes grandmother dies and had a house in Los Gatos Ca, worth a cool 2 million.

cathy37

    US flag
    View Profile
  • Platinum Member
  • *********
  • Posts: 4132 (since 2012)
  • Thanked: 91x
Re: renting - buying
« Reply #7 on: March 26, 2017, 01:21:00 pm »
I'm just the opposite.  I have always owned my home and have a home now that needs some work on it.  As soon as I can get things done I want to sell my house and rent an apartment.

stretch1967

    US flag
    View Profile
  • Silver Member
  • *******
  • Posts: 1915 (since 2008)
  • Thanked: 36x
Re: renting - buying
« Reply #8 on: March 26, 2017, 01:44:04 pm »
I am kind of iffy on both. People say you got to deal with taxes premits insurances and etc for the house. Everything is going up too high. It s hard to tell

ghunter

    US flag
    View Profile
  • Platinum Member
  • *********
  • Posts: 4199 (since 2010)
  • Thanked: 165x
Re: renting - buying
« Reply #9 on: March 28, 2017, 10:04:59 am »
I have own a house for 15 years and sold it to move to a better school for my son and now I rent, but would like to own again, I think.  I love renting because I don't have to fix a roof or a door just call the landlord, by the way who are great.  I can paint the house any color I want and I like that.

kingozzy

    US flag
    View Profile
  • Gold Member
  • ********
  • Posts: 2266 (since 2010)
  • Thanked: 25x
Re: renting - buying
« Reply #10 on: March 29, 2017, 08:17:50 am »
yes if you can afford a house, its always a good idea, at least you wont be wasting your money on rent

gaylasue

    US flag
    View Profile
  • Platinum Member
  • *********
  • Posts: 5528 (since 2011)
  • Thanked: 153x
Re: renting - buying
« Reply #11 on: March 30, 2017, 06:59:56 am »
I am still fussing at my daughter for still renting.  They are paying $1300/month in rent in Lexington, KY.  I keep telling her that amount is a nice house payment towards something that is theirs!
Have a wonderful day!

elvisdo

    US flag
    View Profile
  • Gold Member
  • ********
  • Posts: 2072 (since 2009)
  • Thanked: 35x
Re: renting - buying
« Reply #12 on: March 30, 2017, 10:34:36 am »
We've been renting for over 13 years now. We do want to buy eventually but the prices are way too high over here.

bshee58

    US flag
    View Profile
  • Gold Member
  • ********
  • Posts: 3234 (since 2017)
  • Thanked: 85x
Re: renting - buying
« Reply #13 on: March 30, 2017, 01:48:49 pm »
We're renting a house right now, but if God blesses us with a house to call our own, then it will happen.

aflyingmonkey

    US flag
    View Profile
  • Gold Member
  • ********
  • Posts: 2985 (since 2014)
  • Thanked: 107x
Re: renting - buying
« Reply #14 on: March 30, 2017, 01:53:09 pm »
We own. We've refinanced so the payments are so low now, renting would cost more.   Of course, there are all the taxes & repairs & home insurance that increases the payments.   Sometimes I think it would be easier to just rent & have the owner pay for all of that... and the lawn guys.  But at least I will get the money back, so to speak, with all the equity I earn.   

  • Print
 

Related Topics

  Subject / Started by Replies Last post
11 Replies
2229 Views
Last post August 27, 2010, 02:27:42 am
by colton1266
renting referrals

Started by skiddles « 1 2 » in Suggestions

24 Replies
3415 Views
Last post June 07, 2012, 06:33:56 am
by ckaliszewski
24 Replies
2257 Views
Last post April 06, 2014, 06:32:24 pm
by PGS28
Renting movies

Started by melodylogan45 « 1 2 » in Off-Topic

17 Replies
1824 Views
Last post November 06, 2014, 04:30:00 pm
by lguzman1
1 Replies
686 Views
Last post July 31, 2016, 08:00:25 pm
by amyDAST