Why do some people consider paying rent throwing money away?
- Thread starter M617
- Start date
OPTiMO
SamsoniteMan
Exactly.
You're making someone else rich, without ever possible getting any financial benefit out of it.
but until you pay off that mortage you are doing the same
OPTiMO
SamsoniteMan
But atleast there is a light out of the tunnel. Atleast you have a possibility of owning it.
OPTiMO
SamsoniteMan
If you are in a transitional period in your life, i'd of course say rent, but being a kid whose seen my mom pay rent, and had to move place to place when i was little, man...
Getting in a spot you feel like you can live in, BUY that shyt. There is no other point to throw money away. You are setting your family and their future up as well, whoever has kids here.
Getting in a spot you feel like you can live in, BUY that shyt. There is no other point to throw money away. You are setting your family and their future up as well, whoever has kids here.
Dont buy some shyt where property taxes will be 6,000 a yr. That's 500 a month per year even after you own the house. fukk that. Even if taxes are half that, it's still 250 per month on something u supposedly "own"
Demon
Evil b*stard
This was the ultimate factor that made me take that step.
Don't forget the utilities, unless you plan on generating your own electricity and heating.
Yeah, the main reason I'd want to own is to rent out.
Yeah, u really gotta have your shyt together if u tryin' to own a home. None of that livin' check to check bullshyt.
I would never buy a house in my city tho. I don't plan on bein' here that long.
When I look at house on the internet, Decatur, IL, is NOT a city I browse
That's what my brother does and that's what I will be doing.
Buy a condo/house in a college town and rent it out to the college kids.
My brother has extra 2K coming in every month on the side.
i understand both mindset.
i've worked with so many people that own houses and the number of expenses i hear them speak of collectively is enough to make me think twice about owning a home.
first u have to have 20% down payment...which is a sizeable amount. i'm not like most people that like to hop around from house to house. i hate moving. and the only way i deal with things i hate doing is to avoid doing them altogether.
so when i buy a house it'll be one i intend to grow old in. i aint in no rush.
here at my apartment, if anything goes wrong i call my super. he's here within 20 minutes. fixes my sh1t and leaves and doesn't charge me a dime. my rent is set. no surprises.
i must say though, blessed are those with homes all paid off. when i paid off a car years ago, i know the feeling i got when i received my title. sh1t was extraordinary. so i can just imagine how it feels living in a house where u aint goto pay mortgage and the only thing u responsible for is taxes.
however, most of the people in here who own houses will probably never pay that sh1t off in their life time. yeah ur suppose to pay it off in 30 years, but considering how most of u live ur lives, are you sure u'll actually live to see the end of those 30 years? something to think about. not to mention the fact that most of u carry all kinds of other debt, i.e. student loans, car loans, etc. u add that to your mortgage and u should realize how much of a hell hole you're in.
i've worked with so many people that own houses and the number of expenses i hear them speak of collectively is enough to make me think twice about owning a home.
first u have to have 20% down payment...which is a sizeable amount. i'm not like most people that like to hop around from house to house. i hate moving. and the only way i deal with things i hate doing is to avoid doing them altogether.
so when i buy a house it'll be one i intend to grow old in. i aint in no rush.
here at my apartment, if anything goes wrong i call my super. he's here within 20 minutes. fixes my sh1t and leaves and doesn't charge me a dime. my rent is set. no surprises.
i must say though, blessed are those with homes all paid off. when i paid off a car years ago, i know the feeling i got when i received my title. sh1t was extraordinary. so i can just imagine how it feels living in a house where u aint goto pay mortgage and the only thing u responsible for is taxes.
however, most of the people in here who own houses will probably never pay that sh1t off in their life time. yeah ur suppose to pay it off in 30 years, but considering how most of u live ur lives, are you sure u'll actually live to see the end of those 30 years? something to think about. not to mention the fact that most of u carry all kinds of other debt, i.e. student loans, car loans, etc. u add that to your mortgage and u should realize how much of a hell hole you're in.
MadameMoreaux
Pro
I like the security of knowing that my house will be paid off when I'm in my early 50's.