ST Alpha - "I don't want the hassle of owning, but I'd sure like the equity" (Reading a Post)

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I don't want the hassle of owning, but I'd sure like the equity

Posted by ty97 Jun 17 '09, 09:33

Plus: rent goes up, mortgage is constant

Responses:

I always warn new home buyers, it's rarely the mortgage that gets you but the little things that pile up - Beaker Jun 17, 10:02 9
- When our boiler went out a few months ago, I realized how totally effed I would have been if I wasn't renting. -- nm - TFox Jun 17, 10:05 1
  - [deleted]
- I like this advice. Wasn't the guideline in the US that if your mortgage payments exceed 40% of your gross income, then you shouldn't be buying. - Loyola Jun 17, 10:05 2
  - Something like that. Heh, for us, we'll actually have two mortgage payments if our plan works out ... - Beryllium Jun 17, 10:06 1
    - Good idea. -- nm - Loyola Jun 17, 10:09
- We're kind of in that boat right now; one of the reasons why we're not pushing very hard on our house hunt -- nm - Beryllium Jun 17, 10:02 3
  - ~I'M ON A BOAT!~ -- nm - Andy Samberg SI Jun 17, 10:04 1
    - "Let's see ... keev ... and ... T-Pain!" ... heheh. I was just watching this a few minutes ago, when I tried to find the video for Iran So Far Away -- nm - Beryllium Jun 17, 10:05
  - or, rather, we're eyeing that boat carefully, trying to find the exact spot to jump into it from. :) -- nm - Beryllium Jun 17, 10:03
Mortgage is not always constant. -- nm - lileve Jun 17, 09:43
Yeah, but owning definitely costs more. - Subversive Jun 17, 09:37 24
- what ML said. to rent my apartment would definitely cost more than I'm paying in mortgage, taxes, and co-op fees. - mafic Jun 17, 09:49 9
  - But, what if you were to go try and buy that apartment now, at today's prices. - Subversive Jun 17, 10:01
  - Plus: tax write offs on the interest. -- nm - JaxSean Jun 17, 09:57 1
    - not for mafic. -- nm - Andie Jun 17, 10:00
  - Property taxes are insane. Every year, I am amazed at how much other people here are paying. -- nm - con_carne Jun 17, 09:54 3
    - They should tax everyone $100 a year for being alive. That would bring in alot of money. -- nm - Loyola Jun 17, 09:57
    - Yeah, property taxes can suck my ass. -- nm - Shaun Jun 17, 09:55 1
      - God bless 'em, the folks who pay property taxes are funding all kinds of local services, though -- nm - con_carne Jun 17, 10:12
  - [deleted] 1
    - yeah. it'd be smaller too. -- nm - mafic Jun 17, 09:52
- [deleted] 1
  - L3. -- nm - Subversive Jun 17, 09:43
- But if you move in 10 years, you get some money fir your house - ty97 Jun 17, 09:39 10
  - Tell that to people in Detroit -- nm - decline Jun 17, 09:43
  - Renters have more flexibility and less responsibility, but no equity. Owners have less flexibility and more responsibility - TWuG Jun 17, 09:42
  - Absolutely, but a strong argument can be made that if you take the money you save by renting and invest it, you'll have more than the equity you lost. - Subversive Jun 17, 09:41 4
    - [deleted] 3
      - Oh, I see. You think we're still talking about you. :) - Subversive Jun 17, 09:45 2
        
        [deleted] 1
        
        I've seen some fairly convincing arguments that renting is cheaper, but of course it totally depends on the market. - Subversive Jun 17, 10:00
  - ever heard of a renting bubble? -- nm - Danedukenuuk Jun 17, 09:41 2
    - why would you rent a bubble? -- nm - mafic Jun 17, 09:47 1
      - those crazy danes. -- nm - Beryllium Jun 17, 09:47
- Is there ever any doubt that owning is more expensive? -- nm - Shaun Jun 17, 09:38
The mortgage stays the same but the taxes don't. -- nm - Krusty Jun 17, 09:37 1
- They do in CA. Prop 13 only allows them to go up a very small amount unless it's sold. That's why CA is broke. -- nm - jnine Jun 17, 09:40
on the other hand property/school taxes go up. -- nm - decline Jun 17, 09:36

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I don't want the hassle of owning, but I'd sure like the equity

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