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  1. #1
    marstc09's Avatar
    marstc09 is offline Jersey Retired
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    Rent, Don't Buy, Your Home

    Most Americans assume it makes more economic sense to own your home rather than rent
    http://promo.realestate.yahoo.com/rent-dont-buy-your-home.html

  2. #2
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    Re: Rent, Don't Buy, Your Home

    I always smirk at those people who say they are building equity. I did exactly what this article said. You keep fixing your houses folks while my extra money sits in stocks.

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    NordicNed is offline Jersey Retired
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    Re: Rent, Don't Buy, Your Home

    "marstc09" wrote:
    I always smirk at those people who say they are building equity. I did exactly what this article said. You keep fixing your houses folks while my extra money sits in stocks.
    I rented for years Marstc, and I'm happy I did, then when my nest egg was ready to hatch, I bought the rental propery for dirt cheap..




    It is a good move to rent, but you have to be a very dedicated person to bank that money you have to so it works out in your favore in the end.




    I'm a firm believer in it, because I understand how it works, but it's tough to sell the idea to those who just don't get it..






    Ned


    I LOVE THE SMELL OF VICTORY IN THE MORNING AIR.

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    Re: Rent, Don't Buy, Your Home

    "marstc09" wrote:
    I always smirk at those people who say they are building equity. I did exactly what this article said. You keep fixing your houses folks while my extra money sits in stocks.
    Your rent check vanishes into the pocket of your landlord and my mortgage check builds equity. I have a triple lot in St. Paul with a 6 foot privacy fence, not too worried about resale value despite the real estate market.

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    Re: Rent, Don't Buy, Your Home

    Yes but Renting does not accomplish anything if you rent your whole life when you retire you are still paying massive amounts of money into rent...But if you succesfuly pay off your mortgage that house is all paid for and you have way more availiable money.

    With renting your just basicaly throwing your money away never to be seen again. At least paying a mortgage you have something to show for your money.


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    Re: Rent, Don't Buy, Your Home

    It's something to think about now considering the current financial climate, however we bought our present home in 2002, since then it has nearly doubled in value, so no regrets. The people who are looking to get their first homes right now, whether buying or renting, are the ones I feel sorry for.

  7. #7
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    Re: Rent, Don't Buy, Your Home

    It all depends on how smart you are and what the economy is doing.

    Myself I like to buy real estate and rent it to smucks that think buying real estate is stupid.
    Thus, I have someone paying my mortgages while I build equity, which I use to finance other properties.

    Sure some of my properties have taken a BIG hit on value, but I'm not losing any money as people are renting because they are afraid to buy now.
    I'm not stupid enough to sell now, I'm looking to buy.
    Which I find a lot easier than picking stocks.

    My end game is to have 20+ properties by retirement.
    The revenue should do me fine and managing the places will give me something light to do to keep me busy.
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  8. #8
    marstc09's Avatar
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    Re: Rent, Don't Buy, Your Home

    "DeathtoDenny" wrote:
    "marstc09" wrote:
    I always smirk at those people who say they are building equity. I did exactly what this article said. You keep fixing your houses folks while my extra money sits in stocks.
    Your rent check vanishes into the pocket of your landlord and my mortgage check builds equity. I have a triple lot in St. Paul with a 6 foot privacy fence, not too worried about resale value despite the real estate market.
    That $250 a month is not going to hurt me. What is your mortgage?

  9. #9
    marstc09's Avatar
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    Re: Rent, Don't Buy, Your Home

    "vikings_fan66" wrote:
    Yes but Renting does not accomplish anything if you rent your whole life when you retire you are still paying massive amounts of money into rent...But if you succesfuly pay off your mortgage that house is all paid for and you have way more availiable money.

    With renting your just basicaly throwing your money away never to be seen again. At least paying a mortgage you have something to show for your money.

    I am 28. I doubt I will be renting my whole life. Massive amounts?! I pay very little rent. When will you succesfully pay off your house? When your about to retire. So then you have this wonderful house to show for what 20 years and then it is to an old persons home. I got better things to do with my money.

  10. #10
    marstc09's Avatar
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    Re: Rent, Don't Buy, Your Home

    "scottishvike" wrote:
    It's something to think about now considering the current financial climate, however we bought our present home in 2002, since then it has nearly doubled in value, so no regrets. The people who are looking to get their first homes right now, whether buying or renting, are the ones I feel sorry for.
    That is why I am going to sit tight for a bit.

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