Buying VS renting Buying a house VS buying a condo Renting a house VS renting an apartment
I currently have a mortgage on a house that I've neglected the maintenance on for over a decade. It needs a lot of work now. Owning a house sounded better than a condo or renting but I hate the maintenance and I can't travel for extended periods because I don't have a home sitter. Should I sell my home and buy a condo? Or should I sell it and rent something? I have several vehicles so I really like the extra garage space that the right house can provide. I've tried finding condos with a 3 car garage but they don't exist here. I can put my motorbikes in a storage unit but that seems like a pain in the ass because I ride them.
What did you all decide to do for housing? And why? What are the pros and cons for you?
imagine buying property with the everything bubble at ATH basically.
Asher Walker
owning homes in western economies is fucked. You will have to subsidize your renters and count on a greater fool to buy from you, all while the property is degrading unless you re-invest a lot into maintenance.
It is also just a geo-location to find you and officially send you more taxes and shit.
No one getting rich now will want these pieces of shit.
It's way better to travel and rent apartments and get someone else to fix everything and just move if there are any unwelcome changes, including neighbors, etc
>all while the property is degrading unless you re-invest a lot into maintenance This is what happened to me
This is a discussion about housing to live in, not for investment purposes.
>It's way better to travel and rent apartments and get someone else to fix everything Better than buying a condo? The condo handles all exterior maintenance and you own your condo and should have better, higher class, neighbors.
Jose Edwards
>I currently have a mortgage on a house that I've neglected the maintenance on for over a decade. It needs a lot of work now. my man. My mom moved in with me and she house sits when I travel. Also picked up a condo to chill in during vacations. If I could start over, I probably would have gotten just a condo first or just rented and made a killing in the stock/crypto markets over the past decade.
Daniel Torres
Isn't renting setting yourself up for poverty in future?
How will you pay eye watering rents when you retire?
Jonathan Sanders
there will be a glut of properties after the war lol
Cameron Campbell
Lol I have a house built in the 30s. Come live in the desert. Most maintenance comes from water doing bad water things (like getting into cracks and freezing). I could lock the door and come back in a decade to a slightly dusty house.
Easton Davis
>not for investment Not Jow Forums
Nathan Wilson
>& Finance
Jason Morris
Business & FINANCE Discussing the best housing options is 100% finance related.
Ayden Fisher
Buying a condo is comfier for crypto NEET lifestyle, with a house you have to do all these gay maintenance tasks to keep the value of your home, shit is tedious.
Only thing is you need to do good research on the condo board to make sure they're not ultra jewyy. Condo fees are a bitch and if you get a bad board they can hit you with a (((special assessments))) because they didn't maintain the property correctly.
Gavin Taylor
*sniffs hard as fuck*
Caleb Edwards
House is a far better investment than a condo as you OWN THE LAND
With a condo, you own the air from the paint inwards...
Condos have set fees you have to pay for each year that takes care of building maintenance, this doesn’t take care of internal maintenance
If you set aside a similar amount per year for maintenance on a house and actually maintain, you’ll be far better off in the long run
Condos can have good rental returns that may be better than a house but you’ll do better with capital growth with a house Are you playing the short or long game?
Wyatt Brown
>With a condo, you own the air from the paint inwards...
Stopped reading after this BS.
Connor Watson
This guy gets it. Owning land > owning anything else ever
Especially looking at the future.
Own land or stay poor
Mason Hall
That's how I feel and why I'm considering selling my house and buying a condo with a 2 car garage and renting a large storage unit for my other vehicles.
I mean he's pretty correct. You don't own the land or the building. You own the interior of your condo, hence the air from the paint inwards. And you can't even do what you want with the interior. They have rules of what you can and can't do. Who can do work, what kind of plumbing is allowed, and if you break the rules, accidentally or not, they fine you.
Jack Morris
>Owning land > owning anything else And that's why I bought my house long ago but I kind of regret it and think a condo would have suited me better. I'm already wealthy so idc about land value at this point and I hate the maintenance and not being able to leave for extended periods of time. Decisions decisions
Eli Smith
you never fucking own the land. the government and their police will take it from u anytime they want.
Robert Flores
So tell me exactly what you actually own aside from the paint inwards?
The walls? Floor? Windows? Nope. That’s all the building which you don’t actually own and therefore don’t have to maintain as its serviced by your yearly fees
John Jenkins
Sure, in extreme instances but this can also happen with a condo
Wyatt Green
ur right, in standard conditions land is a good investment, but I thot we weren't into that here. It's like saying the dollar is great when it's working. the issue is that it is not going to work much longer.
Benjamin Johnson
>Buying VS renting I rented for the past 4 years, but I'm looking to buy a house now. Just use this to determine if it's better to rent or buy nytimes.com/interactive/2014/upshot/buy-rent-calculator.html >Buying a house VS buying a condo I won't even consider a condo, at least not in my area. Condo fees you have little say in, special assessments can cost you absurd amounts unexpectedly, and there's possibly questionable build quality (unless you're confident in your abilities or have a good inspector). Not to mention condo fees will only go up, in 10 year old buildings I see some condo fees in the $600+ range, 20 years $800+ range. Meanwhile you can rent a 1 bedroom for $1200. Who's going to buy your condo for that?
A house on the other hand will get you more land, more freedom, more potential for financial growth. Sure doing your own maintenance sucks ass but you can all the rewards if it appreciates, and worst case you can hire someone to do the maintenance. In my area any house appreciation is tax free, which is a nice bonus. Then you can also rent it out, and it's possible to actually be cash flow positive. Once it's paid off it's basically passive income that will still be fairly stable even in a recession. Even better you can use leverage on any equity you've put into the house to buy other investments, which isn't really possible with other investments. Also since it's leveraged your gains increase by the total amount not just the amount you put down, for instance if you buy a 500k home with 5% down of 25k, if it goes up 5% and is worth 525k a year later, you just turned a 25k into 50k. Although there's some risk if the house drops in price.
Henry Robinson
I'm sure my house is worth less than I paid because I bought in 2007 and never did any maintenance. Shit is seriously falling apart. My main shower is even leaking through the wall into my master bedroom and the baseboard is wet in the master bedroom. The shower needs recaulked bad. The roof started leaking and I paid someone to patch it. The whole roof is over 20 years old and needs replaced, along with the trim and fascia. The outside window sills are like separating from the house and idk what to do about that, maybe tons and tons of caulk? idk but that would look like shit. Some of the window sills on the inside are seperating from the wall up to a third of an inch, I've recaulked into those cracks twice now and it's unsealed again. The whole textured ceiling on my back porch has fallen in and I can see the 4x8 boards now, even the caulk or whatever between the boards has come out and fallen. My duct work has black mold in it now and needs fully replaced. It's time to replace the whole central A/C system, just waiting for it to completely shit out because that costs like $6,000 for the size I need. The front porch ceiling has patches of the texture that have fallen off and peeling away. The ceiling in my living room needs fixed from that leak I had in my roof. I have mold in my attic from 2 leaks that were patched. The exterior is in need of a whole repaint. And theres more problems. It just never ends. The house didn't have any problems when I bought it.
Also 3 walls with holes in them from punching them when shitfaced and raging because of my gf years ago. My fault. Too big to patch. One foot hole in my living room wall too. Other living room has a human sized hole shittily patched by an old neighbor.
I basically bought near the peak and the house has fallen apart with me doing absolutely no maintenance and treating it as a condo because I have none of the skills required to maintain it myself and would have to hire people to do all of the work.
Jaxson Clark
Come on don't let this thread die. Not very many people even answered my original questions for them What did you all decide to do for housing? And why? Do you feel you made the right decision? What are the pros and cons for you?
