Renting and reinvesting the savings from renting, will outperform owning and building equity

[im not you]

But you’re spending more for utilities, maintenance, and repairs, and then there’s property taxes and hoa fees (if applicable).

Just playing devils advocate

renters have to pay utilities too

on a per month basis including all those fees, i still come out on top

hopefully nothing in my place breaks anytime soon

 

[Mike Nasty]

But you’re spending more for utilities, maintenance, and repairs, and then there’s property taxes and hoa fees (if applicable).

Just playing devils advocate

You can add another more expenses to owning property, it's still getting passed on to the renter.

 

[Sad Bunny]

I pay a mortgage and I also invest in the stock market. Why can’t I do both? Lol.

Terrible thread.

 

[Conan]

You also have an appreciating asset

It doesn't appreciate as much as stocks, and in addition, it's asset return is extremely volatile in comparison. Fire, theft, a pipe breaking, a hurricane... all can leave you assed out.

It's ok to want a house for sentimental reasons, but in many situations a house is not the fastest way to build wealth.

You can add another more expenses to owning property, it's still getting passed on to the renter.

Not necessarily

renters have to pay utilities too

on a per month basis including all those fees, i still come out on top

hopefully nothing in my place breaks anytime soon

Renters don't usually pay for trash, water, sewer. If you have a house your electric/heat/water goes up. Not to mention home insurance.

And unless your house is brand new, hoping nothing in your house breaks soon is not a good strategy

My homeboy's boiler crapped out. He paid $9000 for a new one, including labor and taxes. That's my rent for the next 8 months

 

[Robbie3000]

This was always bullshyt advice

I wasn’t giving advice. I put my strategy out there and asked for feedback.

The strategy worked for me. By not buying a house in DC, j was able to save the difference between rent and a comparable mortgage into a sizable down payment. Im back in the A now where property is more affordable and with the money I saved for a down payment, I have a lot of choices and my mortgage payments are going to be very affordable once I buy a place.

 

[Astroslik]

You also have an appreciating asset

You also can put that money in the market ( and even BTC & ETH as of this moment) and get better returns

 

[Raw Lyrics]

This is not true. If the rental market price is $800, and you set your rent at $1300 to cover expenses you will not get a tenant. Supply and demand drives rent, not landlord expenditure.

Let's not use $800 as example number though, unless it's in a one room studio in a grimy part of town.

Landlords in all the major cities are upping their rent upwards up 40-50%. A simple Google search will tell you that. They passing a lot of costs down to the tenant. I just came out of a situation where I was renting and now I have a mortgage note.


Absolutely no regrets.

 

[-DMP-]

I fail to see how this is passive

there’s a lot to manage when it comes to renting out a property

passive is a house you own appreciating in value

It’s passive because I don’t actively manage it.

 

[StretfordRed]

You also can put that money in the market ( and even BTC & ETH as of this moment) and get better returns

But can you live, eat, sleep and raise a family under your stocks?

Ultimately I don't know why people who rent always are trying to shout the loudest about not owning a house. At some point owning property is the number 1 goal of the majority of adults across the world especially when you're married, a steady career and have a family. It's Ok if people do not have the $/£ to put down for something good with a large deposit.

TBH half of the brehs talking about owning stock, etc over a house probably don't even have that much stock in the first place nor could afford 10% or more down payment on a house

*edit, I may have mis-read your post breh

 

[Standing on business]

But you’re spending more for utilities, maintenance, and repairs, and then there’s property taxes and hoa fees (if applicable).

Just playing devils advocate

You still have to pay utilities when you rent. Renting a house my size is around $1k more month than what my mortgage, and that’s including property taxes. I can own my home which appreciates in value, while still investing in all the other things mentioned in this thread.

 

[Admiral Ackbar]

But can you live, eat, sleep and raise a family under your stocks?

Ultimately I don't know why people who rent always are trying to shout the loudest about not owning a house. At some point owning property is the number 1 goal of the majority of adults across the world especially when you're married, a steady career and have a family. It's Ok if people do not have the $/£ to put down for something good with a large deposit.

TBH half of the brehs talking about owning stock, etc over a house probably don't even have that much stock in the first place nor could afford 10% or more down payment on a house

Truth.

Finances are just a flex for a lot of people these days and they don't know what the fukk they're talking about.

OP didn't age well after the pandemic. Goes to show there are way too many variables and a lot of the fluctuations are artificial. Gotta stay up on your local market if you wanna get somewhere, or research somewhere else if you wanna move there or invest.

 

[beenz]

this thread makes no sense since it typically cost more money to rent than own. if not, landlords wouldn't make money.

 

[beenz]

I pay a mortgage and I also invest in the stock market. Why can’t I do both? Lol.

Terrible thread.

same here

 

[Sampson]

Real estate appreciation is currently at about 14% depending on your market. If you can afford to buy a property, you can double dip by renting it out. Anyone with a diversified portfolio can tell you this. It’s not rocket science.

Plus my home has doubled in value the last five years because the market is crazy right now.

I think people are overthinking this for some reason

 

[Towlie]

this thread makes no sense since it typically cost more money to rent than own. if not, landlords wouldn't make money.

Right. They guy next door rents and his rent is double my mortgage payment. My payment includes insurance and taxes