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?

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.

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.

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

Renting

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

bought my first home at 23, rented before that

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.

So you live in Canada too? :1orglaugh

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

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

paying:D

where in CA is 4 hours from everything? Barstow?

just south of fresno
basicly in the middle of the state

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.

I have my own house. I hated paying rent

Moved from home at 20 and bought my first house.

i've been renting since i was 16

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.

I rent my appartment, nothing wrong with it.

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.

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....

I was living with parents when I was 21 :(

You probably prefer spending money on domains than real estate anyway :winkwink:

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.

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.

fuking amazing, 15? damn:thumbsup

sell high, but then you gotta buy high:2 cents:

I rent :(

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

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

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.

I rented for about 3 years then bought a house

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. :helpme