Jhoon
Spontaneous Mishaps and Hijinks
Isn’t that how it should be??
People say renting is 'throwing money away' but I couldn't disagree more
- Thread starter Doobie Doo
- Start date
That's why one of my goals is to be the mortgagee when my daughter buys a home. Money stays in the family and the home too in the event she forecloses.
Live in LA the avg house in a decent area is 750k to 1 mill houses in Compton and Inglewood are 600k so if you want a decent home 20% down is150 to 200k who has that laying around. I agree owning a home is cool in most places especially the south but owning a home in a major city like NY or LA isn't as feasible. My homie bought a home for 1.5mill but he stays way out in the valley aka 1hour of traffic to get to his house to watch the game and 1 hour to get back home.
Renting to much like living in a slave quarter
p*ssy ass old geriatric fukks banging on the gat damn wall cuz they hear bass
Someone garbage ass grill blowing smoke
fukk that
Still you can rent and save toward retirement or buying a house cash
Real Estate in fertilizer for grey hair
p*ssy ass old geriatric fukks banging on the gat damn wall cuz they hear bass
Someone garbage ass grill blowing smoke
fukk that
Still you can rent and save toward retirement or buying a house cash
Real Estate in fertilizer for grey hair
Slaimon Khan Shah
SLAIMON KHAN SHAH = SHAOLIN MONK/S OF ISLAAM
NICE READ!!!!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.
Copy Ninja
Superstar
Pay someone else's mortgage brehs 
Jhoon
Spontaneous Mishaps and Hijinks
do both 
Jhoon
Spontaneous Mishaps and Hijinks
They can’t do both because they are financially illiterate.do both
If people want my children to live comfortably who am I to get in their way?
Atsym Sknyfs
Superstar
I own my home and I own investment properties..
each has benefits... as a landlord.. I hate having to pay for their heat.. the common area electricity .. taxes .. water bill .. .. I have to make sure the place is clean... etc... if they don't pay me.. im assed out .. have to pay for a lawyer..etc... all expenses the renter doesn't have to worry about..
each has benefits... as a landlord.. I hate having to pay for their heat.. the common area electricity .. taxes .. water bill .. .. I have to make sure the place is clean... etc... if they don't pay me.. im assed out .. have to pay for a lawyer..etc... all expenses the renter doesn't have to worry about..
the bossman
Superstar
This. I would've done the same. Stay renting with the flexibility to move around whenever and just have property managers at my investment properties
That gut punch at the beginning of last Summer when I had to drop 8k to replace my A/C unit
Jhoon
Spontaneous Mishaps and Hijinks
Who actually puts 20% down?
Atsym Sknyfs
Superstar
** double **
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Atsym Sknyfs
Superstar
my father in law wanted to rent as he got older.....
said he didn't want to pay expenses and was to old to worry about fixing things.... if something breaks... just call the landlord.