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File: 128316097129.jpg-(58.04KB, 720x563, boissiere_house_web[1].jpg)
270136 No.270136
Why are people obsessed with owning their own home? What's wrong with staying debt free and just renting ? This is more common on continental Europe but seems unpopular in the UK.

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No.270138
Back in ye olden days, buying a home was a good idea because after you paid it off you just sat there on it while it grew in value and then when you retire you can sell it, gain a profit, and buy/rent a nice little new place of your own to live in foreves.
So it was a good investment.

Then people started buying homes they couldn't afford, which was the problem.

Also theres people like me who wants to buy their own place because they want to tear it the fuck uuuuup.

No.270139
IDK about you, but over here it's cheaper.

If you buy a house all you need to do is pay the bank back what you borrowed. If you rent a house you have to pay a ridiculous amount of money for... as long as you rent it. So in the long run BUYING your own house is a lot cheaper than renting.

No.270142
If you rent for years, you're never going to see that money again. It's gone. Rent money is dead money.

There's also the fact that in many rental properties you're severely limited in what you're able to do with it. The majority of the time you can't hang anything on the walls, can't do any gardening unless it's maintenance of the already existing garden, and in our current rental place, my fiancee and I can't even have pot plants on paved surfaces outside.

With a bought property, there's a high chance you'll see your money again (if you're not a fucking idiot and buy a place you can actually afford), and you can do anything you want with the property. The simplest improvements to your house can add thousands onto the price. A few hours gardening each week, or getting some mates together to put up a shed can be worth a boatloat in profits.

No.270149
See, the way I live and will continue to live my life simply will not allow otherwise.

>>270142
This.

No.270151
>>270142
I know some people who are interested in renting just because of the reasons you've listed. The majority of their weekends and spare time were spent fixing the house's problems, maintaining it, and trying to improve it. Now they're renting because they want to recapture some of that free time.

I think I read somewhere that you have to stay in a house for at least twenty years before it becomes a good investment. If you're not going to be in one place for long enough to make a house a good investment, just rent.

No.270161
>>270151
I think that really depends on the house. My mum bought her first house and sold it after only 8 years for a good sum.

>>270136
Doesn't everybody have a dream house? Perfect shape and location with a special room for that thing you enjoy.

No.270162
another thread that is realy out of place on p4c

No.270171
Depends on your lifestyle. If you want to raise a family and live in the same house for years, it's great. If, like me, you don't ever want to settle down and like to keep moving, buying a house is stupid.

I do have a dream house for when I'm old and tired, though.

No.270184
>>270162

Why's that?

No.270366
>>270184
What, do you think we're made of money? Or that we have spouses and families to fill up a house with noise and love?

;_________;

No.270376
>>270366
I do. My fiancee and I have $30K saved for a house so far. We're looking at buying at the beginning of next year.

We would have bought last year, but shit kept coming up that put our job security into question. Don't want to get a home loan without job without a stable job to fund it.

No.270379
>>270366
You could just live in a house with five or six friends and split the mortgage (or one person pays mortgage and the rest pay him rent or however it works).

No.270380
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270380
>>270379

>one person pays mortgage and the rest pay him rent

what could possibly go wrong

No.270381
>>270380
It works for three guys I know and their housemates. They've been together for years.

No.270384
>>270381

lucky for them. ive been burnt too many times to ever consider goig near something that big

No.270536
Depends on where you're renting, property taxes in that area and the kind of house you're living in/renting.

Usually when someone says it's more advantageous to rent than own they're talking about places you'd drop a couple Gs at every month to pay for, so a nice place with a good location and good management, so you have all the perks of living in an owned location (you can paint, minor renovation, decoration, gardening, pets etc.) with the perks of a well tended rental (included home maintenance like plumbing, electrical, lawn care, repairs, and such as well as things like less bills to pay attention to since they are usually absorbed/included in the rental price, generally lots more shit done for you as a service for no extra charge NOT TO MENTION not having to deal with selling the place when you move on) all for the same price of what is likely to be a significantly shitier owned home. For example, I could have a really nice two bedroom condo in downtown Toronto for the money my mom pays for her house. This business about paying off the mortgage and being done with it is way over simplified, there is the renegotiation of the fixed rate every few years that is a massive headache, and the constantly rising property taxes, these jump around as if they are determined to fuck you over, and property taxes never go away as well as home insurance and home security (usually installed to lower the home insurance price) . In an apartment, landlords can't raise your rent more than a few percent every year no matter what happens.

Now there are a ton of variables here, and it all requires finding a good place to live for you, but renting isn't something to be scoffed at and disregarded as a money sink, as in some situations it can be as if not more advantageous than striving to own a home, especially if one is fickle, young, on unsure footing career wise and really going with the transient nature of urban living. So holding off owning until you're good an settled and content with life before taking that next step.

Also never buy town homes, there is no set regulation for the thickness of walls between units and you'll not only be living in a match box but with your loud ass neighbours too.

No.270559
I just like the idea of owning my own house.
It's mine.

No.270566
The idea of me actually owning a house seems like some sort of alternate reality thing. I just don't see it happening (but man, that sure would be nice).

No.270570
>people who think renting is more economical than buying

No.270573
>>270379
>>270380
>>270381
>>270384

A group of friends have contemplated doing this with the house mentioned in >>270571 once his parents make him sell it. We'd also get a business license (maybe) so we can rent out certain rooms and the garage as production studios for film students and whoever else.

I also want the freedom of design and decorating that you don't really have with apartments and temporary living.

No.270597
My father and I own a big house, living in the upstairs while renting out the downstairs bedrooms. So far it's been a good source of supplementary income for us, especially since we live near a university and there are always students looking for cheap housing.
I can see why somebody would prefer renting to owning, but, as folks have already stated, there are a whole lot of variables that go into making the decision, and every situation is different.

No.270600
>>270570
It is in the short term, obviously.

The ultimate solution is to buy a shitty house like I and essentially be a young Harry S. Plinkett in a creepy house.

No.270693
>>270142

>my fiancee and I can't even have pot plants on paved surfaces outside.

>pot plants

lol.

Anyway, thread makes me feel like a filthy bourgeois pig. My parents have shit tons of property. If you added all the land my mom's mom and her descendants own, it'd probably be larger than a few small countries. D:

Anyway, wisdom from grandma: "Land is the only authentic investment, because you can receive from it forever if you maintain it. You can farm it, you can rent...Buy land, and once it's paid off never mortgage it or sell it! Gold can be stolen, and once it's sold and the money you get for it spent, you have nothing...Never sell land. I'll give it all to you if you promise never to sell it and keep it productive!"

No.270703
I may not like to own my own home, but I don't want to freeze to death.
I also don't want to pay upwards of a thousand dollars a month just to live in a breadbox, be told what I can and can't flush down my own god damned toilet, and harassed by a crotchety elderly couple across the hall if I so much as cough.

I have given thought to buying a little plot of land and constructing a yurt, though. Putting down some tile for the floor, adding in a small yuppie pellet stove. The property taxes wouldn't be so much for an acre, and can you honestly tax a person living in a tent? Really?

The issue with being debt free and renting is that you aren't debt free. You're just putting off debt by feeding it with exorbitant amounts of money. What's the difference between paying a few extra thousand dollars of debt and a few extra thousand dollars of rent?
I'll tell you what the difference is: you can't turn around and sell the apartment you rented to make back that money, and you can't improve the equity of the apartment with your own two manly fuckin' hands. :)

I can roof and replace the shingles of houses, solder piping and build chairs out of nothing but beaver wood. I can't do shit for an apartment.

No.270819
>>270703
>>can you honestly tax a person living in a tent?
Oh, they'll find a way.

No.270888
>>270819
"Sir, your cardboard boxes and the clever use of a hot iron and cellophane for weatherproofing indicate that you owe the federal government no less than five dollars. Please pay post haste or face auditing."



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