This topic contains 41 replies, has 30 voices, and was last updated by 
666 3 years, 3 months ago.
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Buying is a good thing if you have the cash to buy outright and easily afford the maintanance costs.
For the rest of us, it’s swings and roundabouts. I owned for 14 years but had to move when next door was turned into a rental and i got waves of asshole neighbours. I rent for now but will buy again only during a recession as the market is way overpriced for housing in the Uk.
Either way, landlords like banks are Tossers…
Nah, Beer, just giving folks something to think about.
Philosophy, the female repellent
Property taxes really add up. My neighbor has a small tree farm and still pays over twelve thousand each year in property taxes. I don’t have utility bills other than electric but, I also had to put in a septic system and drain field .. and drill a six hundred foot deep well with submersible pump and pressure tank system. A couple of years ago I had to have the pump pulled and replaced because of a failed motor .. it was expensive. My pump has also been hit by lightning twice over the last few years and the control box system has been replaced both times .. it got through both times even though I had an electrician install a surge protector. It’s good to be in a rural area, but, I need to work a long time just to pay taxes .. and if I don’t pay all the school tax bills, then I guess they’ll come and take my land and I’ll be on the street. So, do I really own anything .. sometimes I feel this way .. am I just renting from the county when all is said and done?
I will be the first to admit .. I don’t know the answer! I guess I’m a landowner only as long as I pay exactly what they say. Sometimes, I still feel like I’m renting.It depends if you are staying in the same place for a long period — to me, that’s the deciding factor, anyway. It’s a hassle to sell a house. But if you’re going to be in the same place for even 5 years, I’d generally recommend house or condo. A mobile home or RV is also a good choice in my opinion in many circumstances. I’ve been in the same house for 20 years, so the house wins on economic only grounds over renting in my particular circumstances. But, I also like the private backyard, connected garage, being able to select my own appliances, etc. In my case, house has been paid off for years.
If you want/need to move around a lot or travel most of the time, I would not get a house. Every time you sell you will have to pay fees unless you do it yourself… You can rent when you move but it’s a pain to manage from a distance and a property management eats up a lot of money.
It is also going to vary a lot; some places have an oversupply of housing stock, and/or many/few rental properties. So local conditions definitely impact on it.
When I was a contract engr I would buy a fixer upper in vicinity of major college, hospital, etc. Fix it up and when contract was up move to next job. Did it twice.
Houses are in two different states, 1,500 miles away. Have a management company on each and they have always been rented. On one a single mother continue to struggle making her monthly payment. She gets a nice late charge ding.
It’s all in what you want to do. I can’t sit in an apartment with loud neighbors and deal with all the s~~~. Prefer peace and quiet.
Peace brothers
Anonymous3I own property but not a house. Just land on which sits a camper, a generator, a lawnmower and soon a tractor. I wouldn’t own a house in a city. I would *never* own a condo that wasn’t a total rental property.
Owning a house = Freedom and security
Want to know what you should do in your life and what choices you should make? LOOK AT PEOPLE THAT HAVE MONEY. These people own their homes. More than that, they own lots of homes.
Renting makes absolutely no sense financially. Renting = slavery. The only time it makes sense to rent is if you’re traveling the world and don’t want to stay in one place for more than a few months at a time. My history teacher did this from age 15 to 30 and he had one hell of a great time. Then he bought his house at 31 and settled down.
You want to bitch about raising property tax rates? Those NEVER go up as much as rent rates. And maintenance is over exaggerated. Unless you bought an absolute dump, you don’t have to do much to it if you take care of it.
I own a house in a city. I rent out the main floor – they pay my mortgage. So I basically live free, only paying for utilities.
proud carrier of the 'why?' chromosome
What do you do for work?
A career for a man is not a slave thing. It sets you free.
I effectively turned my hobby into my career. I work with computers doing all sorts of s~~~. Right now, I’m working towards different certifications so I can get a better paying job. Work time to me, is just playing around with computers, which i do in my off time anyway. So, win-win.
I am thinking about a self contsined rv and large car carrier.
I’ve thought about that also. I might end up getting a really nice Class B RV with a motorcycle and put a trailer behind it.
When I punched in the original numbers I bought my condo with I’d have to find a place to rent for less than 444 a month if I planned on staying for 10 years.
That’s true for condo owners, but only true for home owners if they live in a s~~~ty neighborhood or live out in the country.
I just don’t like the idea of being tied down to a property. Everyone always hurries to buy a home as soon as they can without ever looking at the cons of owning one. That’s the type of mind set I hate, which is what my family always tried to push on me.
ok…but you continuously buy food/soda because you need to consume them daily right? So aren’t you paying food related taxes for your entire life?
It’s still considerably less than paying property taxes. Unless you live in out in a rural area, property taxes are going to be high. There’s no getting around that.
It depends if you are staying in the same place for a long period — to me, that’s the deciding factor, anyway.
That’s one of my main deciding factors. In the words of Tom Leykis, “Only buy a home if you plan on keeping it for the rest of your life.”
I fully agree with that statement.
You want to bitch about raising property tax rates? Those NEVER go up as much as rent rates. And maintenance is over exaggerated. Unless you bought an absolute dump, you don’t have to do much to it if you take care of it.
To me, property taxes are exactly like renting an apartment. Except, you’re only renting from the government instead of a landlord. I see no difference in it. If you own something, you shouldn’t be taxed for it. That’s my biggest complaint with “owning” a home.
Everyone’s situation is different, and changes at different times in life. When I was young and single, I had a rental property 3 family that my tenants helped me build a lot of equity in that I subsequently sold and rolled the proceeds into a single family. When the day comes that I’m able to break my marital shackles, I am planning on a condo. I have narrowed it down to a specific complex that is VERY reasonably priced (recent sales $35,000.-$50,000 +/-) and are required to be owner occupied. I will be able to own a 875-950 square foot condo with 2-3 bedrooms in a convenient setting for me that’s close to work, stores etc. I will be paying about a $500. a month fee that includes taxes, maintenance, heat and hot water. Now, that’s cheap living with out a huge property investment. Similar rent would probably be about $1,000. + per month especially with the heat and hot water. Hell, I pay over $6,000 a year now just for property tax !!
In a World of Justin Beibers Be a Johnny Cash
If I had a choice, I’d choose ownership. I like the idea of having more space to decorate in man décor, and arcade/pinball machines and neon signs. I want a place to where I can completely customize. In fact, I’m currently putting some money aside each month into a cash stash, let it grow so I can go for homeownership without mortgage. I want to buy the house straight out. That way it’s cheaper without the interest and it can be paid off sooner than 30 years. I mean in 30 years from now, (if I were to buy now), I would be 64, and I would like to have my arcade/pinball room while I’m still young enough to have one.
https://themanszone.webs.com/
-free lawn care
I always enjoyed caring for and producing a quality lawn… the hour or so I spent on it a week was kind of a solitude and therapy… no one bothered me, I was pushing the mower… I miss that about home ownership…
Plus I enjoyed fixing things, and having my own house (I completely remodeled it myself) was a great feeling of using my hands to do something worthwhile…
No longer can we walk away, we must run. Remove the motive power.
I’m one of those who bought a house, knowing I’d retire several years later at the age of 46. I knew where I wanted to live, it’s a low tax area, it’s on a very quiet cul-de-sac with no possibility of being rezoned nearby for commercial properties and I also knew I would never move again.
There is nothing ‘free’ in rent – whatever amenities, utilities and yard work that’s being done, you’re paying for, and that includes a share of the property taxes. You do get the great ability to move within a short period of time without penalty and you are not tied down, advisable when you’re younger and when your job/debt situation is not so predictable.
I’ve been retired for years now and am almost 60, and doing my own yard work (since I have so much free time) has saved me around $20,000 compared to having someone else do it. Since I paid the house off within 3 years, I paid very little interest and have great equity in the event I need to sell – but I don’t want to sell. I didn’t buy it as an investment – I bought it to have a place to live and call home and live exactly the way I wanted to without some landlord setting the rules. I have a walk-in attic with huge storage and a huge finished basement, so I have all the room in the world for storage for stuff related to my hobbies (hunting, fishing) and other supplies, like 3 freezers for the food I buy on sale and keep stocked.
Concerning apartments and condos – I lived in those, never again, as I was subjected to the noise and arguments and parties from people over, under and around me, as well as sometimes the smell of their cooking. I was also aware that some idiot could burn down the apartment complex and affect me, whereas that wouldn’t happen if I lived in a house. So I lived in apartments in the past and a condo and there’s no comparison for me. Best of all is that people who own homes in decent areas take far better care of them AND treat their neighbors better than renters do, as they have a long-term stake in their home and a real financial interest. You know those common parking lots outside apt complexes, where people come and go all hours, slam their doors or have their stupid f~~~ing base-riddled music thumping that wakes you up? Doesn’t happen to me. I don’t have to listen to the couples screaming at each other any longer. No rap music blasting at 2am in the morning.
Nope. Just home. I am one of those people for whom the best purchase I have ever made was my home, because while I still have to pay property tax every year I do NOT have to pay rent. When inflation or hyper-inflation hits at some point, and you can bank on it that it will, my monthly payment of ZERO will stay the same though of course the property tax will go up.
I don’t give 2 f~~~s what someone else does, however, as I understand we have different motivations. But going to bed at night in a home I own outright without the financial worry of how I’m going to pay the monthly rent, without debt of any kind, is a sensation that once I experienced it I knew was almost priceless. You wanted opinions, here’s mine. 🙂
When I had a house with a backyard, I blasted music as loud as I wanted, there were no neighbor dogs/kids stomping in 6AM over my head, the floor above, I could party with friends in my yard/garden and make BBQ, get drinks outside. Had my own garden with strawberries, apple trees and the list goes on. Way more peaceful to have your own land and house, takes work but can bring you more of anything really, in the long run.
Now in an apartment I don’t need to maintain s~~~ but I can’t blast my music and I hear s~~~ my neighbors do. Feels way more limited but carefree.Overall, if you are lazy or got no money, or you don’t want/need a house it’s better to have an apartment, then living on the street.
If you can afford a good house, it’s way better to be the King in a castle, to have a proper HOUSE+Garden all to yourself.Still, I do enjoy what I have and do enjoy my apartment. But there is no comparison to a proper house.
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Owning a house = Freedom and security
Want to know what you should do in your life and what choices you should make? LOOK AT PEOPLE THAT HAVE MONEY. These people own their homes. More than that, they own lots of homes.
Renting makes absolutely no sense financially. Renting = slavery. The only time it makes sense to rent is if you’re traveling the world and don’t want to stay in one place for more than a few months at a time. My history teacher did this from age 15 to 30 and he had one hell of a great time. Then he bought his house at 31 and settled down.
You want to bitch about raising property tax rates? Those NEVER go up as much as rent rates. And maintenance is over exaggerated. Unless you bought an absolute dump, you don’t have to do much to it if you take care of it.
Totally agree, especially in the UK where we have no property taxes and mortgage rates are 0.25%. If you are renting then you are paying more than a mortgage and you are just paying the mortgage for someone else.
If you rent then you will have to continue paying rent even when you retire. If you buy a property, once the mortgage is paid off you can live very cheaply as how much money do you really need if you live a frugal life?
I have a 50% house deposit and I am currently getting 1.05% interest on that sum. Even though it will hurt to lose that “give a f~~~” fund I know buying a house will give me a much better return in the long run.
Life is no different to a game of Monopoly, the person who owns the most property wins.
For women, everything eventually boils down to Alpha Fucks, Beta Bucks.
Besides ownership gives you more sense of independence and freedom. In fact, even though I’m not working and might be starting an online shirt, website business soon, I’m putting some money I get from SSI aside in a cash stash, and with each month, I add to it and let it grow.
It makes better sense to own, especially now. I mean with rental, if you pay enough rent long enough, you may as well of bought a house, but instead you’re just paying off someone else’s mortgage while living small. Unfortunately in Illinois property tax is high, and the town I live in. My dad pays about $7,800 a year in property tax; it goes north of $10,000 a year in the million dollar house on the west side of my town.
https://themanszone.webs.com/
This is a purely subjective thing. Yes I see the advantage of only renting which is great if you do not want the responsibility of upkeep on anything. On the other hand there are advantages so having your own land and home – which it means more maintenance, it also means that once the property is yours you are paying just the yearly property tax on it.
Now one thing I will never advocate is for people to spend any money buying a home in a f~~~ing masterplanned subdivision – It usually comes with its own headaches like dealing with an HOA and other s~~~ty things. Tax rates in those master planned communities can also be a lot higher. Take for instance where I live in Austin TX. There are cities where some of these subdivisions have property tax rates at 3% because they add a MUD tax to the already bloated city rate. On the other hand there are places you can purchase land build a home on it add a septic tank to it and you are paying somewhere around 1.2 – 1.5% property tax.
I’ve rented and owned many times over my life. Right now I have the best situation I’ve ever had and that is I bought land with no close neighbors and it’s private plus my mortgage payment is lower than what rents go for around here and I’m planning on staying here the rest of my life. I live in the country it’s quiet here and there’s lots of wildlife around the property I own. My drive to work is only a half an hour and that’s the same distance it is to shopping areas. It’s so damn quiet here I love it. When I got divorced I moved into a town and bought a triplex rental to live on one floor and rent the other two out. It was so loud and such a headache that I sold it and I bought property. I got 2 acres and I clear-cut it then I built my own septic system with the help of a friend, I got a well drilled and I put a double wide mobile home on it. Later on I build a garage to keep my stuff in and park my truck. The best thing about it is my utilities. Basically all I have is electricity and my bill is roughly $100 a month for electric, I use propane gas to heat with but my Doublewide is so small it’s cheap. So essentially after I had my well drilled and my septic built I have free water and sewage, I don’t have a landline telephone, I take my garbage to work so no garbage collection bill and my cell phone is paid for from work. It’s the best situation I’ve ever been in. FYI I’m paying around $ 740 a month and that’s with property taxes included and my homeowners insurance included in that payment
I like owning a house because I can work on it and I love my tools. If you buy a place as cheap as possible and plan on sticking around it’s not a bad deal especially if one of your hobbies is working on construction projects.
I want to shove Ms. Piggy in a woodchipper. No quote. That's all.
Anonymous1I like the freedom of doing what I want when I want. I lucked out buying at the Low point. I bought lower then what i could actually afford so I can pay it off sooner. After I replace the roof next year I am going to look at a second property to sumplement my income. Debating buying a place next to Coworker so he could take care of rental property while the rent pays for the princpal/interest. I figure 21 years till I retire so two properties at least will be paid for.
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