View Full Version : I really don't see the appeal of homeownership.
DipDipDive
12-12-2006, 02:28 PM
If you ask me, the only 2 noteable perks of owning a home are 1) having the ability to modify your living space to your tastes, and 2) tax breaks.
Other than that, I don't see the point. People always say that renters just throw their money away and wind up with nothing to show for it, whereas when you own a home, it's "yours". To that I say BULLSHIT. I would hardly claim ownership on something that requires substantial payments every month of my life until I'm 70 years old. Not to mention the hassle of maintenance and insurance expenses. (n)
I could easily see myself being happy as a renter for the rest of my life.
P.S. I'm a licensed real estate agent LOL.
QueenAdrock
12-12-2006, 02:32 PM
I think it's like owning a car vs. leasing. If you lease it, at the end of 3 years you've spent like $9,000 and have nothing to show. If you buy, at the end of your payments you have a car you can sell and make money off of. Like I still owe $3,800 on my car but the blue book value is $6,600 so I'd make a profit at this point.
I thought it was the same as a house, like you buy it and then after a few years if the market goes up you can sell and make off like a bandit. I dunno cuz I don't really give a shit about real estate, but I've picked up bits and pieces from a friend who works for the mortgage industry.
DipDipDive
12-12-2006, 02:33 PM
Oh yeah, and fuck not being able to move whenever the hell you want to. My mom is stuck in West Virfuckingginia because the market sucks right now and she couldn't give her house away.
Seriously. I'd rather move to another state before I think about buying a home. Granted, we got hit by a fuckton of hurricanes, but still. Although I do have some land (or will soon) so I'm going to rent that out to whatever sap wants to put a home up and have it flooded by another natural disaster.
The Notorious LOL
12-12-2006, 02:34 PM
HOW MUCH FOR THAT LAND!?!
HEIRESS
12-12-2006, 02:35 PM
Im more all upons the land owner type scenario
Id rather save up more money and buy a place in the country with actual land rather than a home with a strip of sidewalk and somewhere to throw in some rose bushes in the city
we shall see, I should make the decision whether or not to become a homeowner in 2007 quite soon, because the ole lifestyle will have to change a wee bit for that to happen
Hmmmm
ps. my roommate is a real estate agent LOL :/
DipDipDive
12-12-2006, 02:35 PM
I thought it was the same as a house, like you buy it and then after a few years if the market goes up you can sell and make off like a bandit. I dunno cuz I don't really give a shit about real estate, but I've picked up bits and pieces from a friend who works for the mortgage industry.
Equity is worth taking into consideration. People always say that a home is the best investment you can make because you will always see a profit. They seldom depreciate in value. BUT, the market is a gamble. Your house will more than likely be worth more a few years down the line than it was when you purchased it, but that doesn't mean it'll sell when you need it to.
HOW MUCH FOR THAT LAND!?!
$PS3.00
DipDipDive
12-12-2006, 02:38 PM
ET change your avatar. I'm getting you confused with myself.
do you know anything about property law
i have this exam that i'd like you to take for me
QueenAdrock
12-12-2006, 02:39 PM
Oh yeah, and fuck not being able to move whenever the hell you want to. My mom is stuck in West Virfuckingginia because the market sucks right now and she couldn't give her house away.
Yeah, same in Maryland. We got extreeeeeeemely lucky. We asked for about $50,000 more than what our house was worth, some dude was desparate to move ASAP and snatched it up before we even put it in the paper (I don't know how, even). And he offered us an extra $20,000 if we agreed to cover the closing costs. Very, very lucky indeed. We didn't have to wait for more than a few days after it went on the market to unload.
Meanwhile, there are houses right up the street from my old house that have been on the market for almost a year now. Sucks, mang.
DipDipDive
12-12-2006, 02:39 PM
do you know anything about property law
i have this exam that i'd like you to take for me
A lil :o
APPURTENANT EASEMENT COVENANT SERVITUDE PUBLIC TRUST WATERFRONT AIR LIGHT NEGATIVE RECIPROCAL AFFIRMATIVE
analyze plz
I'd rather pay a little more and walk away with something in my pocket (market status pending), then pay a little less and walk away with nothing.
But you are so fucking right about being stuck in one place. Renting is great for people who don't want to sit still in the same place for a loooong time.
ET change your avatar. I'm getting you confused with myself.
So does that mean when I'm touching mmeeeeeEEEEeee, I'm touching YoooOOOooouu?
Horrible Darkness reference...
DipDipDive
12-12-2006, 02:48 PM
APPURTENANT EASEMENT COVENANT SERVITUDE PUBLIC TRUST WATERFRONT AIR LIGHT NEGATIVE RECIPROCAL AFFIRMATIVE
analyze plz
I believe an appurtenant easement is one that is beneficial to the owner of the land on which the easement runs.
A covenant is basically a requirement or rule enforced by a homeowner's association to ensure proper maintenance and pleasant appearance within a subdivision or residential area.
You're on your own for the rest. :(
Horrible Darkness reference...
so, a darkness reference
The point of owning a home is this:
My parents buy their home in 1976 for $82,000
It is now worth $1,500,000 in 2006
They can sell it, retire and live off the equity they have earned over 30 years, they can take out a reversed mortgage until they die, etc.
OR
You live in a house for a couple of years, it gains in appreciation, you refinance and take the cash out of the house for anything from paying off your car to taking a trip to whatever...
For those who live in shithole states with little appreciation, there is little point to owning, but for those who live in other states - it's a great investment for your future.
Freebasser
12-12-2006, 03:18 PM
I have to agree. My cardboard box project that I started for the local homeless posse is a nice little earner.
jabumbo
12-12-2006, 03:20 PM
my ultimate goal is to fully remodel my own home, so i have to buy one first
not to mention that i could put down a mortgage on a house with pretty much the same cash i pay for rent each month around here
The Notorious LOL
12-12-2006, 03:22 PM
it'll be terrible when the housing market completely collapses in about five years and with it, takes down our economy. I will personally blame condo developers.
DipDipDive
12-12-2006, 03:24 PM
I will personally blame condo developers.
Lenders will be the ones to blame, not developers.
DipDipDive
12-12-2006, 03:32 PM
For those who live in shithole states with little appreciation, there is little point to owning, but for those who live in other states - it's a great investment for your future.
...If you're willing to settle in a location and later alter your plans when you want to move on with your life and the market is in a rut.
...If you're willing to settle in a location and later alter your plans when you want to move on with your life and the market is in a rut.
yeah, that's rough and i feel for anyone who needs to move or would like to move, but can't for one reason or another... your keyword here is "settle" though...
my boyfriend is from Indiana and his family/friends have had like 3% appreciation over the past 10 years. Now with the slow market, they would be taking a major loss if they tried to sell. Frustrating.
DipDipDive
12-12-2006, 03:44 PM
my boyfriend is from Indiana and his family/friends have had like 3% appreciation over the past 10 years. Now with the slow market, they would be taking a major loss if they tried to sell. Frustrating.
Shitty. (n)
But I suppose just like any other investment, there's risk involved with purchasing a home. At present, I don't think it would be wise for anyone who doesn't plan on planting some serious roots somewhere to take that risk.
ms.peachy
12-12-2006, 04:35 PM
Mr.p and I bought our primary home in 1998 for £195K. It's a brick Victorian row house, more orlessidentical to the 5 others on the street. The house next to ours sold earlier this year for $875K. So, that's roughly $600K we've made, by doing virtually nothing except for having bought in the right place at the right time. So, I see the appeal indeed.
DipDipDive
12-12-2006, 04:42 PM
Has anyone mentioned the possibility of getting on one of those home improvement shows? They don't do that for renters.
Pssssht. Don't you EVER watch HGTV? Duh.
Just ask Bob. He'll tell you all about the fabulous makeovers for renters they feature on that channel.
roosta
12-12-2006, 04:45 PM
Ireland is obsessed with home ownership...its like the only thing people talk about and its almost considered something you must do. Funny thing is, as our economy has become so strong and we've become rich as a nation, house prices have spiralled out of control. You almost have to buy as a couple and your salary has to be fairly decent for a bank to even consider you, but still its seen as a "must do" thing. People are driving themselves into debt, and parents are helping most couples get started.
Given all that, id probably buy. I think like kll said its the value appreciation thing mainly. If you rent something you have no chance of your money increasing in value. Now, the economy could wobble and all, but its accepted that whatever happens house prices will only level out and not go down by any drastic amount.
I dunno, it terrifys the shit out of me.
Has anyone mentioned the possibility of getting on one of those home improvement shows? They don't do that for renters.
I have a friend who is a designer for that show Curb Appeal.
She was telling me how they make it appear that they do the job in a weekend or two, when in fact, it's over a 6-month period depending on weather, travel schedules, etc. They have to wear the same outfit when they tape, so it looks like it takes just the weekend.
I wanted a show to help me out until I found this out. I don't like people in my house for longer than a couple hours... I'd die after 6-months.
marsdaddy
12-12-2006, 05:25 PM
Don't forget the white picket fence and leaving a legacy home to your kids so they can raise their kids in it...
That and, like ms peachy and kll said, I've made over 50% in appreciation in 4 years.
cosmo105
12-12-2006, 05:30 PM
i used to not get it either, but now that i've been renting for a while i really see the draw. damnit, i don't want to have to put down a $300 deposit to have a goddamn cat.
marsdaddy
12-12-2006, 05:33 PM
Oh yeah, and when interest rates get back to 7%, and you hit the top tax bracket, the interest write off usually makes the house payment and rent about equal.
ericlee
12-12-2006, 05:34 PM
You can always buy a house and rent it out. That way if you feel like you've been staying in the same place too long, you can move elsewhere.
Make sure that the rent in the apartment you'll live in is equal or less to the payments you'll get from the house you rent out.
I understand what ddd is saying because I hate to stay in one place for a long period of time but, when I get older, moving from place to place would be too much for my crippled bones.
The Notorious LOL
12-12-2006, 05:36 PM
thing is most of the people all about it right now have had homes for an extended period of time. With a first time homeowner potentially purchasing a property in the market right now, odds are based on interest rates and screwy ass financing, you probably wont have it paid off before you die.
That whole "three times the value of your income" rule is out the window too. If I were to try to buy a house at $105,000-$120,000 in this city I would be residing somewhere northside being lulled to sleep with the sound of gunshots.
beastieangel01
12-12-2006, 05:37 PM
I definitely don't get it because I feel like the kind of person that always wants to get up and leave to somewhere new.
But once I find a place I want to stay, I'd like to own.
marsdaddy
12-12-2006, 05:49 PM
That whole "three times the value of your income" rule is out the window too. If I were to try to buy a house at $105,000-$120,000 in this city I would be residing somewhere northside being lulled to sleep with the sound of gunshots.Never heard the "three times the value of your income" rule, but toss that out the window right next to the "two times monthly income" diamond engagement ring rule.
What can you afford -- and what are you willing -- to pay monthly for housing? When you figure the tax break, will you be at that number? There is software to figure this out.
venusvenus123
12-12-2006, 05:50 PM
your rent is most likely paying someone else's mortgage.
The South Florida market is in the real estate "rut" that you mentioned. We lived in Florida for 2 years and made $56 grand when we closed. If the market had held we would have made around $150. I can't complain because $56 grand in 2 years is not too bad. When we moved from Richmond, Va to South Florida we cleared $80 grand on our 5 year investment. So, in 7 years we have made $136 grand on our home investments. Owning a home never stopped our traveling circus. We plan to stay in Texas for awhile and improve our new home.
I rented for 7 years out of college before I bought my 1st home. I always felt beholden to the landlord and I don't need some self-described "lord" telling me I am too loud. I also saw no benefit in renting.
Oh, I bought my 1st house for $70 grand through a Fannie May 1st time homeowners loan and sold it for $156. Real estate has been a great investment in my life. The money helped pay for my wedding, honeymoon on the Greek Island of Santorini and helped upgrade our living conditions each move. We now own a beautiful 1928 Victorian on 2 lots with over 4,000 ft of living space. We have no outstanding debt and we have money to invest. (I am sure that it will be invested in our new home)
To each their own..............I am an investor not a rentor. (replace the e with an o in rentor if it bothers you)
The Notorious LOL
12-12-2006, 06:25 PM
your rent is most likely paying someone else's mortgage.
if the water heater or furnace breaks or the plumbing gets fucked up...its not my job to worry about paying it.
If I wanted to move out of state in a few years, doing so while renting vs having a mortgage is a billion time easier.
befsquire
12-12-2006, 06:29 PM
yeti, i have a fabulous investment opportunity for you. i myself would like to own a home but have no money for the downpayment. your downpayment on my home today will increase as the market does at the time of my sale.
have your people contact my people.
The Notorious LOL
12-12-2006, 06:33 PM
The value of homes are only going to increase the longer you wait to buy.
I just think it's one of the best investments someone can make.
you're acting like real estate will always be this sure fire money making investment and I disagree.
yeti, i have a fabulous investment opportunity for you. i myself would like to own a home but have no money for the downpayment. your downpayment on my home today will increase as the market does at the time of my sale.
have your people contact my people.
Beth, I will be touch. I may want to visit in the winters to go see Mickey, Minnie and Goofy.
Notorious, I see your point but I can't go for that kind of thinking. I try to think about how my present investments will affect my future. Owning a home has never stopped us during our travels. We have always planned our moves and waited until our home has closed. We were lucky with our South Florida home because my wife's company paid our mortgage until it sold.
If you become a homeowner you will learn to be a fix it man.
If you are smart and do your homework, real estate cannot fail to be a good investment. If you buy in an area that is growing and in a desirable part of the country and are not looking to "get rich quick" and can afford to hold onto the property for awhile, there's no other investment like it.
For all of those who are wanting to move around a bit -there's nothing keeping you from buying investment property and having someone else pay your mortgage.
Creative financing (i.e. $0 down) is there for a lot of first-time homeowners. Why not buy a house, stick renters in it and you're only out the closing costs on the house.
Buying a house in a college town, close to the campus is a sure-fire way to have constant tenants paying the bill... sure, you may have to fix the furnace, but that's what home warranties are for (only $300-ish per year) and that covers the major stuff in the house. If you don't want to put a new roof on, then buy a house that has had a new roof in the past couple of years... stuff like that is what you need to think about and not the pitfalls of homeownership in a down market in a less-desirable part of the country...
Documad
12-12-2006, 11:12 PM
I wish I had purchased a house when I got my first full time job. I waited too long, but I still did alright--my neighbors with the exact same house paid $75,000 more than me two years later--I couldn't find anyone to buy it for what they paid now though. Anyhow, I will never make a ton because I bought a small house and it can only go up so much. I bought a cheap house but got a 15 year mortgage. (I paid off all my law school debt in 8 years -- I hate debt.)
First thing I did was paint walls of my new house in very strange colors. That eventually got old, but I was so fucking tired of white walls. It's scary when something big goes wrong. I feel overwhelmed sometimes. But I felt like it was part of growing up to see if I could handle it.
BTW -- one reason to buy a house is because rental properties cost too much. That's not true if you're a single person renting a one bedroom apartment in a modest neighborhood, but if you have three kids, you can't find a safe apartment for what you could buy a house for. That's what happened with my nephew.
Documad
12-12-2006, 11:13 PM
P.S. I can CRANK my stereo in the middle of the night. How do you place a value on that? In my last apartment I had to listen to my music with headphones and it caused me to stop listening to music completely.
mickill
12-12-2006, 11:17 PM
We bought our home for approximately half its current market value, just 3 years ago. And personally, I would never want to go back to renting. One reason is that I don't like living in very close proximity to people I don't know/like/want to be around. So condos and townhomes just don't work for us. And renting a house would cost as much as paying a mortgage. As far as maintenance goes, I mow the lawn and rake leaves. It's no big deal. Any other work/renovations are by choice.
And if we decided to sell our home and start renting right now, we'd be sitting on a quarter of a million. Which puts us way ahead of where we'd have been by now had we continued renting 3 years ago.
Simply put, people want to own because that's BALLIN.
Renters are not BALLERS.
mickill
12-12-2006, 11:20 PM
And I do understand that the market isn't exactly sizzling all over the map, but I still appreciate the privacy etc.
But of course I appreciate the appreciation the most.
Seriously. BALLIN.
Documad
12-12-2006, 11:23 PM
You know what bothered me about renting the most? Probably the laundry situation. Even when I lived in a duplex and the landlord and I shared the washer/dryer, I STILL couldn't do laundry in the middle of the night and I still couldn't leave my stuff in the dryer if I took a nap or something. I was a slave to the timer.
Sharing a bedroom wall with the landlord also sucked.
Dorothy Wood
12-12-2006, 11:30 PM
a couple years ago my mom bought a condo in phoenix in a new complex being developed. The value of her condo went up $40,000 before it was even finished being built.
She sold it to my rich uncle who now rents it out, and bought her boyfriend's house. The value of that house increased and she sold it to my uncle (again, which I thought was stupid, she could've gotten more for it, but oh well). Her boyfriend is buying a condo for them to live in and now she just has like $40,000 lying around for doing pretty much nothing other than filling out paper work.
Dorothy Wood
12-12-2006, 11:32 PM
and I rent. it's suits me for now. I don't have to share any walls. although, I would like it if my upstairs neighbors would stop wrestling and listening to terrible music.
you can't say "homeowner" without saying homo
Dorothy Wood
12-12-2006, 11:52 PM
you can't say "homeowner" without saying homo
a few of my old time friends that I don't hang out with anymore used to call people "homeowner" all the time. :rolleyes:
Sharing a bedroom wall with the landlord also sucked.
When I was just out of college I rented the side of a 1863 house. My landlord's bedroom was next to my bedroom. Well, I had a habit of going to pubs and bringing back wayward women. After a particularly noisy 3am romp I realized I was not the only one banging....my bedpost was banging the wall....and my landlord was banging wall back. She was a very nice but very conservative bordering on crumudeony. The next morning her husband gave me a wink and said--had a good night huh? I used to take money and bounce for a pub below my house. The bartender, waitresses, barbacks, etc would all come up to my house after closing from 3am until the sun came up in the morning. My landlord would be banging on my door at 5am in her robe. I would open it and she would look at me with disdain and yell...Steve!!! it is 5am!! The funny thing was that I kept my landlords young (they were in their late 60s) and they loved to hate my antics. I am still in touch with them via e-mail and snail mail.
I stopped renting and now I can bang all night long....what am I thinking? I'm married....nevermind.
Documad
12-13-2006, 12:03 AM
For a while, I had the landlord's paralyzed sister sharing the bedroom wall with me. It embarrassed me because I could hear her snore, so she had to hear everything in my place.
I also had a landlord who played NPR really really loud. :rolleyes:
Documad
12-13-2006, 12:08 AM
One more thing about home ownership you youngsters don't care about:
My parents bought a house in 1962. They paid it off in 1981. My mom lived there until this last spring. She had a whole house to live in for 25 years and didn't pay anything except property taxes, insurance, and upkeep. (I did the yardwork. :p)
I have another relative who never purchased a house. She's almost 60. She has no idea how she will ever retire and still afford her rent.
And yeah, people can save and invest money without a house. But Americans don't.
mickill
12-13-2006, 12:16 AM
Yes. Sharing laundry facilities, walls, ceilings, floors and parking spaces with other people are among the many other disadvantages of rental living that I'm glad I no longer have to think about. Not to mention dragging your groceries up however many floors and waiting for elevators etc.
One more thing about home ownership you youngsters don't care about:
My parents bought a house in 1962. They paid it off in 1981. My mom lived there until this last spring. She had a whole house to live in for 25 years and didn't pay anything except property taxes, insurance, and upkeep. (I did the yardwork. :p)
I have another relative who never purchased a house. She's almost 60. She has no idea how she will ever retire and still afford her rent.
And yeah, people can save and invest money without a house. But Americans don't.
The lesson is simple. If you rent you will work yourself to death or tape record 2 of your cats playing in the bathtub and post it on YouTube;) .
marsdaddy
12-13-2006, 01:41 AM
you're acting like real estate will always be this sure fire money making investment and I disagree.You're acting like this country hasn't always been owned by landowners.
Plus, BALLERS.
mickill
12-13-2006, 02:08 AM
BALLERS>renters
venusvenus123
12-13-2006, 04:27 AM
try saying that to Donald Trump.
LOL :)
we bought our flat in 95 for 120k. sold it 5 years later for 280k, then we bought our house. over the past 5 years our house has appreciated by about 30% even though the market has slacked off a fair bit. ok so most of our money is in a house, but at least it's ours. :cool:
The lesson is simple. If you rent you will work yourself to death or tape record 2 of your cats playing in the bathtub and post it on YouTube
this is also true. ;)
listen to the old people. we know!
Gareth
12-13-2006, 04:34 AM
i totally want BALLER status and if that means buying a house then so be it.
Drederick Tatum
12-13-2006, 05:05 AM
pfffft. I have BALLER status and I rent hard. and since when have white picket fences been BALLER? since never that's when.
mickill
12-13-2006, 08:58 AM
We don't even have a fence in our front yard. But we could stiill sell the house tomorrow and buy us an Escalade with chinchilla interior and a 42" plasma screen on the dash and still have money leftover for a bottle of Hennessy XO. That's totally BALLIN.
The Notorious LOL
12-13-2006, 09:12 AM
yeah theres nothing BALLER about being tied down to some big ass liability i.e. house. Say you want to move across the country...as a renter I have to do fuck all to get the ball rolling on that.
as a homeowner, you have to list the property thru a realtor...which first involves shopping for a realtor...then you gotta have weirdos come view your house, then you gotta schedule inspections and do paperwork and blah blah. Fuck all that.
As far as an investment goes, my retirement fund is doing quite well.
Enjoy your water heater payments, faggots!
Otis Driftwood
12-13-2006, 09:18 AM
Not unless the home comes with the 3 Ps.
Park.
Pool.
Plantation.
Enjoy your water heater payments, faggots!
That reminds me......I need to change out my old water heater and gather the sticks in my yard and bundle them with some rope.
The Notorious LOL
12-13-2006, 11:12 AM
I talk to people constantly about shit like this and that broke...my basement flooded, blah blah gas bill is high, electricity bill...gotta get a new A/C and it all seems like a gigantic pain in the ass.
If I was going to buy...itd be somewheres in the Victory neighborhood for a reasonable price, which...assuming I was handy, I would fix up and sell a few years later. Even that though...christ.
yeahwho
12-13-2006, 11:20 AM
Owning in Seattle has been nothing short of having a machine to print money.
The most important message that I am getting from this thread is that LOL and DDD are perfectly suited for each other. Both feel the same way, both would love to pick up and move on a whim without any other responsibilities tying them down and that's just great. Good matchmaking, BBMB!
The Notorious LOL
12-13-2006, 11:38 AM
:D
I can see some merits in it...but realistically for me right now, its just not worth it. Out of curiousity I did browse some real estate sites today and god damn...you cant find even a dump in this city for less than $150,000
na§tee
12-13-2006, 11:40 AM
... and just think how many wii's that could buy you! :eek:
The Notorious LOL
12-13-2006, 12:01 PM
563.90977443609022556390977443609 of em
skinnybutphat
12-13-2006, 02:12 PM
Unless your some kind of vagabond buying property should be your #1 financial priority.
I saved 4k and bought a 1 BR condo in 99' for 84K. In 02' I took out an equity credit line on it to buy another place, pay off my car note and 8k in credit cards. The payment on the equity loan was $400, + $230. assessment = $630.00. I then rented it out for $650 a month for a year and built another 10k in equity. I sold it cheap and quick in 03' for 119K. The place I bought in 02' is woth 55-60k more than what I paid for it.
So I have made about 85k in 7 years on an initial 4,000 investment, all while not paying rent.
You have to be either an idiot or extremely unlucky to not make money in real estate.
Drederick Tatum
12-13-2006, 03:07 PM
I'ma make my money raising emus.
The Notorious LOL
12-13-2006, 03:24 PM
Unless your some kind of vagabond buying property should be your #1 financial priority.
I saved 4k and bought a 1 BR condo in 99' for 84K. In 02' I took out an equity credit line on it to buy another place, pay off my car note and 8k in credit cards. The payment on the equity loan was $400, + $230. assessment = $630.00. I then rented it out for $650 a month for a year and built another 10k in equity. I sold it cheap and quick in 03' for 119K. The place I bought in 02' is woth 55-60k more than what I paid for it.
So I have made about 85k in 7 years on an initial 4,000 investment, all while not paying rent.
You have to be either an idiot or extremely unlucky to not make money in real estate.
2003 vs 2006 is like night and day. The market flat out sucks right now.
I'ma make my money raising emus.
Emus can swim. Ostriches can't. Or so I've heard.
investing in real estate = good
I'ma make my money raising emus.
you're gonna need a house to do that...
The Notorious LOL
12-13-2006, 04:02 PM
so if one figures a mortgage of say....$1200 a month...and you currently rent for $900...wouldnt it make just as much financial sense to keep renting and dump that theoretical extra $300 for "mortgage" in a mutual fund or Certificate of Deposit and basically eliminate all the bullshit of homeowning while reaping the benefits of a return on your investment?
Drederick Tatum
12-13-2006, 04:03 PM
you're gonna need a house to do that...
the fuck I will. a shack and my emus is all I need. those bastards basically raise themselves and then when it's time to cash in, I cash in big, cause everyone loves eating emu.
the fuck I will. a shack and my emus is all I need. those bastards basically raise themselves and then when it's time to cash in, I cash in big, cause everyone loves eating emu.
dude now you've got me hungry, let me know when they're ready
Drederick Tatum
12-13-2006, 04:10 PM
seriously these guys taste like chicken, a big 12 foot chicken.
skinnybutphat
12-13-2006, 04:42 PM
2003 vs 2006 is like night and day. The market flat out sucks right now.
Even moew reason to get into something now. Even in a flat market you should expect to see around 5-10% increase per year. Buy something small in a good area.
venusvenus123
12-13-2006, 06:17 PM
The most important message that I am getting from this thread is that LOL and DDD are perfectly suited for each other. Both feel the same way, both would love to pick up and move on a whim without any other responsibilities tying them down and that's just great. Good matchmaking, BBMB!
haha, i thought exactly the same thing.
mickill
12-13-2006, 07:12 PM
yeah theres nothing BALLER about being tied down to some big ass liability i.e. house. Say you want to move across the country...as a renter I have to do fuck all to get the ball rolling on that.
as a homeowner, you have to list the property thru a realtor...which first involves shopping for a realtor...then you gotta have weirdos come view your house, then you gotta schedule inspections and do paperwork and blah blah. Fuck all that.
BALLERS rarely find themselves having to suddenly pack up all their belongings and move across the country. That's just shit that hobos, fugitives, circus folk and renters need to concern themselves with.
BALLERS rarely find themselves having to suddenly pack up all their belongings and move across the country. That's just shit that hobos, fugitives, circus folk and renters need to concern themselves with.
<3
Documad
12-13-2006, 08:04 PM
Now is the time to buy (unless you're going to move out of town in the next few years). Buyers have all the power. And the buyer witht he most power is the one who doesn't have a house to sell.
When I bought, houses were going for way more than list price because of bidding wars.
The giant house two doors down finally sold. I can't wait till they file the paperwork and I can see how much money they lost.
ms.peachy
12-13-2006, 10:17 PM
yeah theres nothing BALLER about being tied down to some big ass liability i.e. house. Say you want to move across the country...as a renter I have to do fuck all to get the ball rolling on that.
Load o'bollocks, that is. Mr.p and I bought our house in Jersey City in August 1998, and moved to London in August 1999. So not only did we move, we moved across a flippin' ocean. And, rent our house out and make enough money on it to pay not only the mortgage, but also to pay a good chunk of our London rent. Liability my arse.
Laver1969
12-13-2006, 10:20 PM
I sold my house and became a truck driver.
Motel 6 is my home now.
marsdaddy
12-14-2006, 12:42 AM
so if one figures a mortgage of say....$1200 a month...and you currently rent for $900...wouldnt it make just as much financial sense to keep renting and dump that theoretical extra $300 for "mortgage" in a mutual fund or Certificate of Deposit and basically eliminate all the bullshit of homeowning while reaping the benefits of a return on your investment?BALLERs know it's not just return on investment, but equity and interest write off. That $300/month 'more' out of pocket comes directly off your total income earned -- you get that shit back from Uncle Sam come April 15. Hell, you could double dip, increase deductions, get the $300 more in monthly income, and still throw your money away on CDs, Dubs, or that vintage bottle of Hennessey.
And if your lack of true BALLER status is discovered, forcing you to turn tail and run, you could take a line of credit and move wherever you wanted on the bank's money, and pay some fool to sell your other place for you.
Overheard recently:
"The country is backward. People buy stock and houses when the prices are swinging up. Why wouldn't you buy when the prices are going down because ultimately they are going to swing around again and you'll catch it on the upswing, rather than buying with the other lemmings as prices rise."
vBulletin® v3.6.7, Copyright ©2000-2025, Jelsoft Enterprises Ltd.