Own or rent

Discussion in 'The Howard Stern Show' started by Boomer, Mar 16, 2015.

  1. Boomer

    Boomer Who is your daddy and what does he do?

    Reputations:
    174
    Joined:
    Feb 22, 2012
    Messages:
    2,742
    Likes Received:
    2,891
    Do you own or rent? I'm looking into buying my first house and a bit nervous. Lots can go wrong and it's all on my shoulders.
     
  2. Jayla

    Jayla Ou ai-je l'esprit? Gold

    Reputations:
    66,687
    Joined:
    May 12, 2013
    Messages:
    32,844
    Likes Received:
    70,654
    Own. And you're right to be worried. :giggle:
     
  3. LawyerLarry

    LawyerLarry Mr. Fuckmoney in the Bank VIP

    Reputations:
    -57,568
    Joined:
    Jun 4, 2014
    Messages:
    31,411
    Likes Received:
    147,368
    I rent an apartment and have no desire to own a house. I'll take whatever my parents leave me when they die.
     
    Jayla and AllAboutHim Ed like this.
  4. Ta Ta Toothy

    Ta Ta Toothy Well-Known Member

    Reputations:
    927
    Joined:
    Jun 25, 2014
    Messages:
    3,329
    Likes Received:
    11,706
    Used to own, but lost my home in the last recession.

    Thanks Obama.
     
    smichal, Pooh bear, Boomer and 2 others like this.
  5. 1Vegasgirl

    1Vegasgirl Well-Known Member VIP Gold

    Reputations:
    18,324
    Joined:
    Jan 11, 2012
    Messages:
    33,568
    Likes Received:
    50,510
    Buy!!! Interest rates are still at historic lows. Also, if you can qualify, get a 15 year fixed instead of 30 year.
     
  6. Mlaw

    Mlaw Quite Contrarian VIP Gold

    Reputations:
    84,586
    Joined:
    Nov 5, 2010
    Messages:
    61,795
    Likes Received:
    27,156
    own, and will be mortgage free in May---if you decide to buy, buy the shittiest house in the best neighborhood. The only thing you can't change is location. Everything else (within zoning and building codes) can be improved. Look beyond the cosmetics and be ready to work your balls off. Make sure you put as much money down as possible, and borrow 25% less than the bank pre-approves
     
    Lester, RenchFries, Dan and 6 others like this.
  7. broccoli rob

    broccoli rob thanks for the memories DW3

    Reputations:
    0
    Joined:
    Mar 20, 2013
    Messages:
    8,372
    Likes Received:
    13,132
    if it flies, floats, or fucks.... rent it
     
  8. Mlaw

    Mlaw Quite Contrarian VIP Gold

    Reputations:
    84,586
    Joined:
    Nov 5, 2010
    Messages:
    61,795
    Likes Received:
    27,156
    :rolleyes:
     
  9. Rip mcdivvit

    Rip mcdivvit Well-Known Member

    Reputations:
    0
    Joined:
    Feb 4, 2015
    Messages:
    1,487
    Likes Received:
    1,917
    Own and upside down since 2007. Would love to move.
     
    smichal likes this.
  10. HowieStearn

    HowieStearn HateClub

    Reputations:
    628
    Joined:
    Dec 13, 2011
    Messages:
    15,369
    Likes Received:
    15,562
    Buy a newer house and get it inspected before you buy. And don't hire the cheap inspector, or the one the realtor suggests. Don't believe what the realtors are telling you- they're as honest a used car salesmen. (in general, there are exceptions like Vegasgirl :D)
     
    Last edited: Mar 16, 2015
    smichal, GIRLY, 1Vegasgirl and 2 others like this.
  11. cygnus2112

    cygnus2112 In The Prep Room

    Reputations:
    1,179
    Joined:
    Apr 1, 2012
    Messages:
    3,543
    Likes Received:
    5,117
    Own. its a buyers market right now.
     
    reno and XaltedSmoke like this.
  12. CrucifiedAGT

    CrucifiedAGT He's Around VIP

    Reputations:
    2,178
    Joined:
    Nov 23, 2013
    Messages:
    12,362
    Likes Received:
    27,257
    Unless it's a great deal in a great neighborhood AND you need the space AND you can do a lot of maintenance, it's usually better to rent.

    Homes are a place to live and are not an investment when you factor in taxes, interest and upkeep over the years.

    I own but it's a 1600 sq foot place in a great town and I own a construction company so I can do a lot myself.
     
  13. Mlaw

    Mlaw Quite Contrarian VIP Gold

    Reputations:
    84,586
    Joined:
    Nov 5, 2010
    Messages:
    61,795
    Likes Received:
    27,156
    not here
     
  14. RobsDad

    RobsDad Well-Known Member VIP

    Reputations:
    479
    Joined:
    Sep 28, 2010
    Messages:
    3,248
    Likes Received:
    2,451
    If you can afford to own, do it.
     
    1Vegasgirl likes this.
  15. floplop

    floplop Well-Known Member

    Reputations:
    1,143
    Joined:
    Jan 16, 2012
    Messages:
    3,443
    Likes Received:
    7,002
    owner of a house for 17 years.
     
    XaltedSmoke and 1Vegasgirl like this.
  16. Rip mcdivvit

    Rip mcdivvit Well-Known Member

    Reputations:
    0
    Joined:
    Feb 4, 2015
    Messages:
    1,487
    Likes Received:
    1,917
    Location is vital. Dont get the notion that u can singlehandedly change one too. Having the best house in a bad location is a great way to piss your money away.
     
  17. Mlaw

    Mlaw Quite Contrarian VIP Gold

    Reputations:
    84,586
    Joined:
    Nov 5, 2010
    Messages:
    61,795
    Likes Received:
    27,156
    not if you buy at the right time and pay it off in 12-15 years
     
    Lester likes this.
  18. Mlaw

    Mlaw Quite Contrarian VIP Gold

    Reputations:
    84,586
    Joined:
    Nov 5, 2010
    Messages:
    61,795
    Likes Received:
    27,156
    ...and interest and taxes are deductible
     
  19. Rip mcdivvit

    Rip mcdivvit Well-Known Member

    Reputations:
    0
    Joined:
    Feb 4, 2015
    Messages:
    1,487
    Likes Received:
    1,917
    That mortgage interest is a sweet deduction.
     
  20. Margos

    Margos Sprinkles are for winners.

    Reputations:
    0
    Joined:
    Jan 14, 2014
    Messages:
    908
    Likes Received:
    3,262
    I own a small home. Don't buy more than you can afford each month, and don't forget to add in all the extras, taxes, insurance, maintenance. I would hate to be house poor and have all my money going into a property that I can't really afford, but was able to get with creative financing.

    Good luck!
     
    Boomer, Scarlett Ohara, GIRLY and 5 others like this.