So guys, do you rent or do you own a house? What is, in your eyes, financially the best thing to do nowadays?

So guys, do you rent or do you own a house? What is, in your eyes, financially the best thing to do nowadays?

I'm renting atm and my girlfriend and I were supposed to buy a house as soon as we can. But at this point we don't see any benefits in buying a house. The homeloan would mean we have to pay off a big chunck every month, we would lose most of our savings. Meaning we would have to change our life pretty drastically. While renting we can save pretty good so I don't see the point of buying a house for the future. I live in Belgium though so our home prices are crazy.

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If you don't plan on having children there's no problem with renting forever.

And why shouldn't you rent when you have children? Because renting a big place is too expensive?

Look at the cost of ownership vs. the cost of renting. Where I'm at, if I were to rent my home, it would be over 2000 / mo, but with a downpayment, I'm paying 1700 for PITI, with 400+ of that going to debt repayment. That's pretty decent and my mortgage is fixed.

The only downside is the commission to sell, which here is about 6%, so factor that in.

Also depending on the terms of the agreement your landlord is 100% responsible for the upkeep of the house/apt/condo. That means you wake up one morning and the water heater is fucked, your landlord pays for a new one and has it installed, not you. Depending on type,etc. one of those fuckers will cost you least $600 (heater itself + labor install costs). Same applies if the roof goes shot/gets storm damaged. So yeah your paying $600 a month, but when shit goes wrong your not on the hook for it either. Some places, they factor in the property tax bill in with the rent so that's one more major thing you don't gotta fuck with.

Owning is best over the long term. You can't be paying market rent in your 60s.

I'm probably going to keep renting for a while because I want to keep my assets fairly liquid.

Exactly, we recently had moisty walls because of a leak. Costed us 0 money or time, we have a great landlord too.

But what if you hold or/and invest the surplus of money you keep because of renting. Which is a lot for us, we saved around 20k euro since we started renting which has been 10 months ago, so around 2k a month (euro's). We both have around 1/4th of our savings in investments.

I like renting because I have a lot of money but no friends or gf, so i can undercommit to my long-term living situation and larp as a digital nomad

My dream is to buy land and build a bunker

To me it's simple:
> high times
rent

> low times
buy

If it's a high market you'll overpay when you buy and really suffer in the long run. If it's a low market you just buy everything you can and it will only go up over a 10 year period. Seems like common sense to me.

I live in an expensive west coast city. I'd rather save all the money I'd put towards a mortgage and invest it so I can buy a mansion in fly-over country in 10 years and retire.

the redpill is you should buy farmable land

Yeah the housemarket is fucked and stupidly overvalued. But still it keeps raising and it always has.

And then your rent goes up.

Oh, well gotta keep Mr. Goldberg happy.

Renters typically sign leases

Here they can only index the rent every year, not just because they want to. Or raise it after the contract period.

The blackpill is that tomorrow's arable land is covered with ice and todays arable land will be worthless tomorrow

Buy thousands of acres of Alaskan and Canadian wilderness and hold it for a few centuries.

if you have a little luck with timing though (even just random dumb luck) you can catapult ahead financially with buying though

i know guys (just outside Vancouver, Canada) who bought condo units for like ~$150k in, i wanna say 2014-2015 or so, and then sold them like 2 years later for ~$275k+ just due to market growth. Obviously that's not always going to be the end result but if something like that happens you substantially increase your net worth in a very short time with a relatively safe investment. Worst case you just keep it and live in it and your monthly expenses (mortgage+property tax) won't be too much higher than you would pay in rent anyway.

Buy some land and put a double wide trailer on it for $40k. You can have a fireplace and 4 bedrooms at that price.

>you will never be this lucky

I have a three bedroom townhouse and I rent out the other two rooms for almost 90% of my monthly payment. So I spent a little over $200 a month and I accrue just over $500 in principal, which will go up over time. So +$300 a month in housing or I could rent for -$1100 for the same living standard. Its a no brainer user if you know you aren't moving soon.

Renting now. Waiting for housing crash to buy. I expect a correction within 2 yrs.

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get a condo at least ffs.

repairs and maintenance is all aggregated into the cost of the rent. you are still "paying for it".

home maintenance is not that expensive. "but muh $5000 repair" yea no shit, shit happens but if you have a proper e fund its not a big deal as these things should happen relatively rarely. its like saying you cant be profitable playing poker long tetm because you occasionally take a bad beat. dont be a retard

if you actually believed this you could buy a put on the vanguard REIT

It also depends if you plan to live there forever then it makes a lot of sense.
In my case, because of my work, I have to keep moving every 2/3 years, so buying a house doesn’t make any sense, plus I can get 100% tax deductions on the rent and bills since I work as consultant.
So I can switch job and city very fast and I don’t have to think about mortgage or maintenance.