Suleiman Bey
Banned
None of it.
People say renting is 'throwing money away' but I couldn't disagree more
- Thread starter Doobie Doo
- Start date
R.E.N. Spells Ren
Veteran
It's all facts.
If the owner of your property isn't headed to bankruptcy, then they're making money off of you.
Suleiman Bey
Banned
This is silly too. I've seen numerous homes go to shyt, because of pass downs, seen people sell off the house for pennies because they don't want that house or the responsibility of it.
Hater Eraser
Veteran
Be gypsies and nomads brehs and brehettes 
feelosofer
#ninergang
This
As a homeowner that shyt is super expensive, it's not just paying a mortgage, I have to pay for HO Insurance, I have to HOA fees (800/yr), property taxes (20k/yr), general upkeep (1000/yr) above and beyond basic stuff, Plumbing including septic tank (2000/yr) Keep an account for sudden repairs (around 3000/yr), once my last kid moves out, I'm selling the house and getting a condo down south.
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Suleiman Bey
Banned
Somebody is making money off of you regardless.It's all facts.
If the owner of your property isn't headed to bankruptcy, then they're making money off of you.
Hater Eraser
Veteran
But replacing appliances and fixing up on your house increases the value of the home .. you may double/triple your investment on repairs or replacing depending on costs of the replacements and labor vs. diy . Its all investment with guaranteed return
the bossman
Superstar
Just like the banks making money off you as the property owner with a mortgage.It's all facts.
If the owner of your property isn't headed to bankruptcy, then they're making money off of you.
So if people can't afford to buy a place, should they be homeless?It's all facts.
If the owner of your property isn't headed to bankruptcy, then they're making money off of you.
People need places to live
DJ Paul's Arm
Veteran
KillerB88
Superstar
You hope to be able to sell it for a lot of money. You also don’t have to pay taxes, realtor fees or closing costs. I don’t see how people say renting is throwing money away when you get a roof over your head, security, amenities, maintenance, and don’t have to worry about taxes or general external upkeep. This is something dumb people say to make themselves sound fiscally “aware”.
Hater Eraser
Veteran
Renters get kicked and priced out everyday B 
Then you gotta scramble or move way further out to pay the same you were paying before you got kicked/priced out
Landlords are trying to get the bag too ... whether improving on THEIR investment to charge more, or getting it ready for the sale, or to pass to their family members
Then you gotta scramble or move way further out to pay the same you were paying before you got kicked/priced out
Landlords are trying to get the bag too ... whether improving on THEIR investment to charge more, or getting it ready for the sale, or to pass to their family members
Knowing what I know now. I would have stayed renting longer, instead of buying a home to live in I would have purchased investment properties.People say renting is 'throwing money away' but I couldn't disagree more. Why I plan to be a renter for life.
Melanie Lockert
22h
It's expensive to live in LA.
Anna Klepatckaya / Shutterstock.com
- Melanie Lockert rents a one-bedroom apartment in Los Angeles and has no plans to buy a home in the near future — maybe ever.
- That's because LA has a high cost of living that makes buying unaffordable, she doesn't trust that real estate is the investment some people say it is, and renting fits her need for flexibility and convenience.
- Visit Business Insider's homepage for more stories.
When it comes to where you live, there's always the question, should you buy or rent?
Homeownership is often considered a part of the American Dream, while renting is "throwing money away." I couldn't disagree more and prefer to rent, and I intend to stay that way. Here's why.
My city has a high cost of living
Like a lot of people in Los Angeles, I rent. Many homes here can easily cost a million dollars. From a financial standpoint, renting makes more sense for me. I have a rent-controlled apartment in East Hollywood and pay $1,673.75 (up from $1,625 after three years) for a large one-bedroom with a small patio and parking spot. I rent out my parking spot for $85 a month.
When I moved back to LA after living in New York City and Portland, Oregon, I knew I didn't want a car. I lived seven years without a car and loved it. This is mostly possible because I work from home, but I also chose a very walkable neighborhood, so I could make this happen.
Renting is more affordable in Los Angeles, in many cases. According to data from real-estate site Trulia, a comparable one-bedroom condo in my ZIP code is $549,000 with an estimated mortgage of $2,730 a month. That's more than $1,000 a month more I'd have to shell out just to own.
I don't trust the housing market
I came of age during the Great Recession and saw the housing bubble burst. I'd always believed that homeownership was a great investment for people who could afford it. But after that recession, my ideas changed. I no longer think that buying a home is the guaranteed investment or financially sound move we were told it was.
I don't need a lot of space
I'm a minimalist and don't have a lot of things, therefore don't need a lot of space. I'm single, no kids, and have two cats. When you buy a home, you typically want to fill it so it doesn't look empty. That could lead to unnecessary purchases and more stuff. My one-bedroom fits my stuff and still looks spacious. Many people buy a home because they outgrow their current space, but since I'm content with what I have, why change it?
Renting fits my lifestyle needs
Homeownership seems like a ball and chain I don't want. I like the flexibility of renting and being able to move on a whim. Since I work from home, I want to keep all my options open when it comes to where I can live.
There might come a time when I move somewhere more affordable. I am open to traveling for longer periods. Having a mortgage goes against those goals. If I were to pursue a change in my living situation, I'd have to put my home on the market to sell or find a renter. It would be a production, whereas now I'd just give my 30-day notice and leave.
On top of the flexibility renting affords me, I also like that I don't have to worry about maintenance or repairs. Yes, I have to deal with thin walls and neighbors, but I don't have to go into problem-solving mode if there is an issue. The sink stopped working? I call my property manager, who lives on-site and is kind, fast, and attentive. Need a quick repair? It's not my problem or my money. Renting offers me freedom and flexibility and is low-maintenance.
Why renting isn't throwing away money
The idea that renting is throwing away money is crazy to me. You're paying rent so that you have somewhere to live. I don't understand how having a roof over your head could ever be a waste or throwing money away. I understand that real estate can grow in value and be an investment in some cases.
On top of that, there is more to homeownership than just the financials. It's all about the lifestyle you want. For people like me who crave flexibility and autonomy and don't need a lot, homeownership doesn't make sense. In no way am I throwing money away because I'm trading my money for a place to live, which, given the homelessness crisis in Los Angeles, I'm very grateful for.
When it comes to deciding to buy or rent, it's a personal decision that only you should make. Consider your finances, goals, and lifestyle, and think big picture. Whatever you decide, there's no wrong answer, in my opinion.
People say renting is 'throwing money away' but I couldn't disagree more. Why I plan to be a renter for life.
there used to be added incentives to ownership in the form of tax deductions for mortgage interest and property taxes paid.
in an area like where i live where both property values and property tax rates are higher than the averages elsewhere, it certainly changes the equation.
i will always be pro ownership but it's costing me a lot more comparatively than it used to before the recent changes in tax laws.
in an area like where i live where both property values and property tax rates are higher than the averages elsewhere, it certainly changes the equation.
i will always be pro ownership but it's costing me a lot more comparatively than it used to before the recent changes in tax laws.