ST Alpha - "Yeah, but owning definitely costs more." (Reading a Post)

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In response to "I don't want the hassle of owning, but I'd sure like the equity" by ty97

Yeah, but owning definitely costs more.

Posted by Subversive Jun 17 '09, 09:37

Even if (mortgage+taxes+utilities)=(rent+utilities), which it rarely does, there's still the issue of upkeep and maintenance. I'm a homeowner, and I plan to be always, but there's no denying it's more expensive. The premium is worth it to me, though, to have a place which is truly my own.

Responses:

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

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Yeah, but owning definitely costs more.

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