Did you start your adult life paying rent, or owning? - GoFuckYourself.com

clickhappy · 09-26-2004, 01:47 PM

I hate paying rent, it feels liek throwing money away. But i dont have enough to buy a place.
Is it dumb to rent, or does everyone do it?

wdsguy · 09-26-2004, 01:48 PM

when u don't have that much capital you gonna have to rent but u should try to get your own property as soon as possible.

AndrewKanuck · 09-26-2004, 01:50 PM

I think we all rent for a little while, unless you're wealthy from the get-go. I rented when I first moved out (Left home when I was 15) - and eventually bought into a condo unit, eventually sold and now own true real estate.

bringer · 09-26-2004, 01:50 PM

if your goal is to own rent cheap
im lucky, my area is either rent a house for 1k or buy and pay $700/month to the bank
get a roommate or something

groark · 09-26-2004, 01:51 PM

Renting

AndrewKanuck · 09-26-2004, 01:52 PM

Quote:

Originally posted by bringer
if your goal is to own rent cheap
im lucky, my area is either rent a house for 1k or buy and pay $700/month to the bank
get a roommate or something

700/month? Damn - I want some of that.

bringer · 09-26-2004, 01:53 PM

Quote:

Originally posted by egonetworks
700/month? Damn - I want some of that.

yeah, one hell of a deal
170k house for 110k when rates were low
to bad i live in a shithole area with nothing to do for miles

baddog · 09-26-2004, 01:56 PM

bought my first home at 23, rented before that

Peaches · 09-26-2004, 01:56 PM

I bought my first house at 21 but I also rented before and after then.

It's a numbers game and it also depends on how long you plan to stay, where you're talking about buying, what you can afford, etc.

AndrewKanuck · 09-26-2004, 01:58 PM

Quote:

Originally posted by bringer
yeah, one hell of a deal
170k house for 110k when rates were low
to bad i live in a shithole area with nothing to do for miles

So you live in Canada too?

wyldblyss · 09-26-2004, 02:01 PM

I started off renting. i would recommend though that you buy a house as soon as you are able to. There are many incentives out there for first time home buyers and like it was mentioned before, getting a roommate or two is a good idea. With a couple of roommates they could actually make things much cheaper than renting and allow you some extra funds to make home improvements

bringer · 09-26-2004, 02:03 PM

Quote:

Originally posted by egonetworks
So you live in Canada too?

nah, california
i live 4 hours from everything
too bad those are my only options

johnbosh · 09-26-2004, 02:05 PM

paying:D

baddog · 09-26-2004, 02:05 PM

Quote:

Originally posted by bringer
nah, california
i live 4 hours from everything
too bad those are my only options

where in CA is 4 hours from everything? Barstow?

bringer · 09-26-2004, 02:06 PM

Quote:

Originally posted by baddog
where in CA is 4 hours from everything? Barstow?

just south of fresno
basicly in the middle of the state

arg · 09-26-2004, 02:07 PM

I rented for a number of years before buying a home. The rule of thumb I heard is if you're going to stay in a place less than five years, you're probably better off renting. (Of course if there's unusual price increases in property that's different). There's a lot of overhead in the purchase of a house. If you were to buy a house today, and sell it tomorrow for the same price, you'd typically lose a lot in the process, with realtor fees, inspection fees, mortgage fees, attorney fees and what not.

I wouldn't view rent as throwing money away...you have use of your money that you didn't put into a house, and investing that is worth something...say you put $100,000 in stocks instead of a house and made $8000 a year off it, that money could cover your rent. Of course owning is nice for a lot of reasons too, but whether you own or rent, either way costs money. You'd be paying home insurance, mortage interest, and property taxes with home ownership.

I'd suggest you just don't rent the max you can afford, rent what you need and save up for home ownership when the time is right.

Raf1 · 09-26-2004, 02:14 PM

I have my own house. I hated paying rent

thumbsUP · 09-26-2004, 02:18 PM

Moved from home at 20 and bought my first house.

FlyingIguana · 09-26-2004, 02:28 PM

Quote:

Originally posted by clickhappy
I hate paying rent, it feels liek throwing money away. But i dont have enough to buy a place.
Is it dumb to rent, or does everyone do it?

i've been renting since i was 16

Drake · 09-26-2004, 02:39 PM

Started off renting, now I own. Most start out this way because you just don't have enough for that downpayment.

Renting really is throwing away money. You basically pay the same for a mortgage but with the mortgage the more you pay the more you own. The rent money you never see again. For mortgage payments, you have something in the end to show such as your own house.

polish_aristocrat · 09-26-2004, 02:42 PM

Quote:

Originally posted by clickhappy
I hate paying rent, it feels liek throwing money away. But i dont have enough to buy a place.
Is it dumb to rent, or does everyone do it?

I rent my appartment, nothing wrong with it.

JakeR · 09-26-2004, 02:47 PM

bought a townhome when i was 18, filled it up with 4 idiot friends whose rent incomes covered the mortgage, utilities and taxes, all i had to pay for out of pocket was association fees @ 130/mnth, i miss those days.

Evil1 · 09-26-2004, 02:47 PM

fuck rent, total waste of money.. start off in a 10k trailer if you have to. save, sell 10k trailer, buy 20k trailer, save, sell 20k trailer, buy 40k trailer, save, sell 40k, buy a piece of shit modular, and so on and so on....

polish_aristocrat · 09-26-2004, 02:49 PM

Quote:

Originally posted by Peaches
I bought my first house at 21 but I also rented before and after then.

I was living with parents when I was 21

polish_aristocrat · 09-26-2004, 02:51 PM

Quote:

Originally posted by arg
I rented for a number of years before buying a home. The rule of thumb I heard is if you're going to stay in a place less than five years, you're probably better off renting. (Of course if there's unusual price increases in property that's different). There's a lot of overhead in the purchase of a house. If you were to buy a house today, and sell it tomorrow for the same price, you'd typically lose a lot in the process, with realtor fees, inspection fees, mortgage fees, attorney fees and what not.

I wouldn't view rent as throwing money away...you have use of your money that you didn't put into a house, and investing that is worth something...say you put $100,000 in stocks instead of a house and made $8000 a year off it, that money could cover your rent. Of course owning is nice for a lot of reasons too, but whether you own or rent, either way costs money. You'd be paying home insurance, mortage interest, and property taxes with home ownership.

I'd suggest you just don't rent the max you can afford, rent what you need and save up for home ownership when the time is right.

You probably prefer spending money on domains than real estate anyway

arg · 09-26-2004, 03:35 PM

Quote:

Originally posted by polish_aristocrat
You probably prefer spending money on domains than real estate anyway

Heh, house first

. If domain values & income went to zero, I'd be seriously bummed, but I'd still have a roof over my head! I buy domains, but treat them as high risk investments, and balance them with conservative investments, including real estate.

Magg · 09-26-2004, 03:52 PM

Get a loan on a house, get roommates for every room, and use the roommates to pay off the loan payments.

Charge em each $1000, of course you'll need a house worth charging them that, but I am thinking of somehting with a price tag of $350k or so.

Make sure you buy the house in an area which is growing and you'll be able to resell it in 1-2 years for $100k-$200k more.

When that time comes, sell it, and use the profit and put it into another house.

QuaWee · 09-26-2004, 03:58 PM

Quote:

Originally posted by egonetworks
I think we all rent for a little while, unless you're wealthy from the get-go. I rented when I first moved out (Left home when I was 15) - and eventually bought into a condo unit, eventually sold and now own true real estate.

fuking amazing, 15? damn

sheldonjuan · 09-26-2004, 04:33 PM

Quote:

Originally posted by Magg
Get a loan on a house, get roommates for every room, and use the roommates to pay off the loan payments.

Charge em each $1000, of course you'll need a house worth charging them that, but I am thinking of somehting with a price tag of $350k or so.

Make sure you buy the house in an area which is growing and you'll be able to resell it in 1-2 years for $100k-$200k more.

When that time comes, sell it, and use the profit and put it into another house.

sell high, but then you gotta buy high

radical · 09-26-2004, 04:34 PM

Quote:

Originally posted by clickhappy
I hate paying rent, it feels liek throwing money away. But i dont have enough to buy a place.
Is it dumb to rent, or does everyone do it?

I rent

Doctor Dre · 09-26-2004, 05:16 PM

Getting your own is always better ... but you need capital to do it . I've started renting ... now I got my place . But I already feal like moving . I'm in a condo block and I don't like the people arround

Sosa · 09-26-2004, 06:26 PM

I'm renting right now. Plan on buying within the next year or so though, just waiting for the right house to come up.

AlienQ - BANNED FOR LIFE · 09-26-2004, 06:28 PM

I will never Own nothing until I retire.

Retirment is expected by the time I am 38 and I am 34 now.
I started in 96 and could retire now if I wanted, but there are some interesting times ahead in the next 4 years.

When I am done I will have properties in Mexico and Panama and I hope to be ready to forget all of this shit.

I have the Ace, and always had it...

When I play it the cards will be down...
Then I am gone.

Khun · 09-26-2004, 07:27 PM

I rented for about 3 years then bought a house

NoHassleSteve · 09-26-2004, 07:44 PM

Quote:

Originally posted by Evil1
fuck rent, total waste of money.. start off in a 10k trailer if you have to. save, sell 10k trailer, buy 20k trailer, save, sell 20k trailer, buy 40k trailer, save, sell 40k, buy a piece of shit modular, and so on and so on....

Hmm. Not looking like a good path for those in Florida right now.

Getting something down here new enough to not bite the dust in the next hurricane isn't cheap.

09-26-2004, 01:47 PM	#1
clickhappy Confirmed User Industry Role: Join Date: Mar 2004 Posts: 4,027	Did you start your adult life paying rent, or owning? I hate paying rent, it feels liek throwing money away. But i dont have enough to buy a place. Is it dumb to rent, or does everyone do it?

09-26-2004, 01:50 PM	#3
AndrewKanuck Confirmed User Join Date: Jan 2004 Location: Cleveland & Atlanta Posts: 6,706	I think we all rent for a little while, unless you're wealthy from the get-go. I rented when I first moved out (Left home when I was 15) - and eventually bought into a condo unit, eventually sold and now own true real estate. __________________

09-26-2004, 01:50 PM	#4
bringer i have man boobies Join Date: Jul 2003 Location: van down by the river Posts: 13,082	if your goal is to own rent cheap im lucky, my area is either rent a house for 1k or buy and pay $700/month to the bank get a roommate or something __________________ 333-765-551

09-26-2004, 02:14 PM	#17
Raf1 Too lazy to set a custom title Join Date: Oct 2003 Location: Writer for hire :) Gallery descriptions, articles, blog posts etc. ICQ: 209 356 106 Posts: 12,117	I have my own house. I hated paying rent __________________ 80% Revshare or 30$ PPS on $1 trials: 200 Niches = Vidz.com Galleries / FLVs / Embeds 3 & 5mins FLVs \| RSS & Tube Feeds \| Matching Thumbs \| FLV Browser & Exporter \| No Prechecked Xsales >> Mobile Redirection Script: mobile.vidz.com also paying 80% net Lifetime << ICQ: 198-394-557

09-26-2004, 02:18 PM	#18
thumbsUP Confirmed User Join Date: May 2004 Location: Inside the computer Posts: 347	Moved from home at 20 and bought my first house. __________________ (sig spot) Insert witty/smartass comment or obscure reference to something no one gives a shit about here. You might also choose to promote some program you claim to work for and that pays you fat cash, or cheddar, or whatever it is you wiggers call it these days.

09-26-2004, 01:48 PM	#2
wdsguy Ryde or Die Industry Role: Join Date: Dec 2002 Location: California-Shanghai Posts: 19,568	when u don't have that much capital you gonna have to rent but u should try to get your own property as soon as possible.

09-26-2004, 01:51 PM	#5
groark So Fucking Banned Join Date: Nov 2003 Location: Germany Posts: 1,966	Renting

09-26-2004, 01:56 PM	#8
baddog So Fucking Banned Industry Role: Join Date: Apr 2001 Location: the beach, SoCal Posts: 107,089	bought my first home at 23, rented before that

09-26-2004, 01:56 PM	#9
Peaches Old broad Join Date: Oct 2002 Location: Away Posts: 13,933	I bought my first house at 21 but I also rented before and after then. It's a numbers game and it also depends on how long you plan to stay, where you're talking about buying, what you can afford, etc.

09-26-2004, 02:01 PM	#11
wyldblyss Confirmed User Join Date: Nov 2003 Location: The Buck Starts Here Posts: 5,779	I started off renting. i would recommend though that you buy a house as soon as you are able to. There are many incentives out there for first time home buyers and like it was mentioned before, getting a roommate or two is a good idea. With a couple of roommates they could actually make things much cheaper than renting and allow you some extra funds to make home improvements

09-26-2004, 02:05 PM	#13
johnbosh Confirmed User Join Date: Aug 2002 Location: The Netherlands, Rotterdam Posts: 8,965	paying:D

09-26-2004, 02:07 PM	#16
arg Confirmed User Join Date: Feb 2003 Posts: 1,164	I rented for a number of years before buying a home. The rule of thumb I heard is if you're going to stay in a place less than five years, you're probably better off renting. (Of course if there's unusual price increases in property that's different). There's a lot of overhead in the purchase of a house. If you were to buy a house today, and sell it tomorrow for the same price, you'd typically lose a lot in the process, with realtor fees, inspection fees, mortgage fees, attorney fees and what not. I wouldn't view rent as throwing money away...you have use of your money that you didn't put into a house, and investing that is worth something...say you put $100,000 in stocks instead of a house and made $8000 a year off it, that money could cover your rent. Of course owning is nice for a lot of reasons too, but whether you own or rent, either way costs money. You'd be paying home insurance, mortage interest, and property taxes with home ownership. I'd suggest you just don't rent the max you can afford, rent what you need and save up for home ownership when the time is right.

09-26-2004, 02:39 PM	#20
Drake Hello world! Industry Role: Join Date: Mar 2003 Posts: 12,508	Started off renting, now I own. Most start out this way because you just don't have enough for that downpayment. Renting really is throwing away money. You basically pay the same for a mortgage but with the mortgage the more you pay the more you own. The rent money you never see again. For mortgage payments, you have something in the end to show such as your own house.

09-26-2004, 02:47 PM	#22
JakeR Confirmed User Join Date: Jun 2001 Location: il and nc Posts: 1,760	bought a townhome when i was 18, filled it up with 4 idiot friends whose rent incomes covered the mortgage, utilities and taxes, all i had to pay for out of pocket was association fees @ 130/mnth, i miss those days. __________________ Adult Merchant Accounts & Chargeback Management Solutions Domestic & Offshore icq: 152-058-005

09-26-2004, 02:47 PM	#23
Evil1 Confirmed User Industry Role: Join Date: Mar 2002 Posts: 3,893	fuck rent, total waste of money.. start off in a 10k trailer if you have to. save, sell 10k trailer, buy 20k trailer, save, sell 20k trailer, buy 40k trailer, save, sell 40k, buy a piece of shit modular, and so on and so on.... __________________

09-26-2004, 03:52 PM	#27
Magg Confirmed User Join Date: Feb 2004 Location: ICQ: 132497047 Posts: 4,467	Get a loan on a house, get roommates for every room, and use the roommates to pay off the loan payments. Charge em each $1000, of course you'll need a house worth charging them that, but I am thinking of somehting with a price tag of $350k or so. Make sure you buy the house in an area which is growing and you'll be able to resell it in 1-2 years for $100k-$200k more. When that time comes, sell it, and use the profit and put it into another house.

09-26-2004, 06:26 PM	#32
Sosa In Tushy Land Join Date: Oct 2002 Location: Nebraska Posts: 40,149	I'm renting right now. Plan on buying within the next year or so though, just waiting for the right house to come up.

09-26-2004, 06:28 PM	#33
AlienQ - BANNED FOR LIFE best designer on GFY Join Date: Mar 2003 Location: IALIEN.COM - High Definition Video and Photographic Productions -ICQ 78943384 Posts: 30,307	I will never Own nothing until I retire. Retirment is expected by the time I am 38 and I am 34 now. I started in 96 and could retire now if I wanted, but there are some interesting times ahead in the next 4 years. When I am done I will have properties in Mexico and Panama and I hope to be ready to forget all of this shit. I have the Ace, and always had it... When I play it the cards will be down... Then I am gone. __________________ NAKED HOSTING FTW!11 I'm On The INSANE PLAN $9.95/mo! \| The Alien Blog Adult News Worth Reading Updated Daily \| Content For Sale! 641 PICS 216 MINUTES OF VIDEO $350.00 \|ICQ: 78943384 \| Last edited by AlienQ - BANNED FOR LIFE; 09-26-2004 at 06:33 PM..

09-26-2004, 07:27 PM	#34
Khun Confirmed User Industry Role: Join Date: Jun 2004 Location: TN Posts: 1,239	I rented for about 3 years then bought a house __________________ Sig is on vacation... (I wish I could vacation as long as my sig has...)