Explain how renting is better than buying if rent and mortgage/taxes = same
| fishy stage | 04/22/18 | | fishy stage | 04/22/18 | | thriller den | 04/22/18 | | sick piazza mexican | 04/22/18 | | chocolate cruel-hearted really tough guy indian lodge | 04/22/18 | | fishy stage | 04/22/18 | | bossy fortuitous meteor | 04/22/18 | | fishy stage | 04/22/18 | | Maize main people | 04/22/18 | | fishy stage | 04/22/18 | | fishy stage | 04/22/18 | | Learning Disabled Boistinker Becky | 04/22/18 | | Ruddy curious trump supporter parlor | 04/22/18 | | scarlet mind-boggling nibblets | 04/22/18 | | lime water buffalo | 04/22/18 | | Geriatric chrome school black woman | 04/22/18 | | Avocado Arousing Forum Shitlib | 04/22/18 | | fishy stage | 04/22/18 | | aquamarine crackhouse crotch | 04/23/18 | | aquamarine crackhouse crotch | 04/23/18 | | Nighttime public bath gaming laptop | 04/23/18 | | Cerebral space | 04/23/18 | | Impertinent Self-centered Theater Electric Furnace | 04/23/18 | | scarlet mind-boggling nibblets | 04/23/18 | | cerise bipolar organic girlfriend | 04/23/18 | | 180 house | 04/23/18 | | Cerebral space | 04/23/18 | | Unholy lascivious stock car | 04/23/18 | | Khaki floppy cruise ship | 04/23/18 | | Odious stage newt | 04/23/18 | | massive site chad | 04/23/18 | | Snowy Vibrant Gaping | 04/23/18 |
Poast new message in this thread
Date: April 22nd, 2018 5:59 PM Author: fishy stage
If I rent a place for $2000/mo, and I have the option of purchasing a home for $2000/mo (30 year 4.5% mortgage for $350,000 home and including taxes), why would this not be wise to do?
The $2000 to rent I will never see again. The $2000 into the home, at least 3/4 of that goes into my purchase of the home.
(http://www.autoadmit.com/thread.php?thread_id=3956707&forum_id=2#35895596)
|
Date: April 22nd, 2018 11:09 PM Author: Avocado Arousing Forum Shitlib
Its expensive to buy and sell homes. Transaction costs can be significant.
But you're right that you're much better off buying than renting in much of the country. Most of us just don't live in those places.
(http://www.autoadmit.com/thread.php?thread_id=3956707&forum_id=2#35897543) |
Date: April 23rd, 2018 4:12 AM Author: aquamarine crackhouse crotch
Issues:
- Opportunity cost of down payment.
- Maintenance and insurance costs.
- Significant transaction costs.
(http://www.autoadmit.com/thread.php?thread_id=3956707&forum_id=2#35898626) |
Date: April 23rd, 2018 5:14 AM Author: scarlet mind-boggling nibblets
my rent: 2400/month
mortgage for a place in my neighborhood: 3500/month minimum, plus taxes, plus every other fucking thing
(http://www.autoadmit.com/thread.php?thread_id=3956707&forum_id=2#35898668) |
Date: April 23rd, 2018 2:18 PM Author: Cerebral space
interest payment part of mortgage - tax credits + property tax + local fees + transaction costs annualised + maintenance + increase in value - decrease in value
vs
rent
(http://www.autoadmit.com/thread.php?thread_id=3956707&forum_id=2#35901579) |
Date: April 23rd, 2018 2:24 PM Author: Khaki floppy cruise ship
also, your rent keeps going up.
otoh, your 30 year fixed mortgage stays the same for 30 years.
(http://www.autoadmit.com/thread.php?thread_id=3956707&forum_id=2#35901645) |
Date: April 23rd, 2018 2:37 PM Author: Snowy Vibrant Gaping
If all monthly costs are the same (accounting for down payment, opportunity costs, etc), owning has the benefits of building equity.
That's about it. The calculation can obviously be complicated and is speculative once you get into housing prices/rents/taxes changing.
Imho if you can buy for about what you're paying in rent and make significant equity each month and won't be leaving quickly enough that transaction costs will pwn you, it's worth looking for something.
(http://www.autoadmit.com/thread.php?thread_id=3956707&forum_id=2#35901752) |
|
|