[AussieMale]

Hi tasdad4701

Queensland , Gold Coast hinterland about 15 miles kinda inland of where the Indy car race is held on the streets of Surfers Paradise around Oct every year.

Great part of the world to live in , up high on the mountain , cooler in summer n warmer in winter. When its say 100f off the mountain its 88f on the mountain , the area i live is close to the escarpment & gets a awesome sea breeze all the time. If i were to build a another level on top i would have Pacific Ocean views.

The mountain is surrounded by a rainforest its called Tamborine Mountain. We dont get frost up here either , or avo's wont grow.Temp diff is eg: off the mountain 40f on 48f thats at night. Good % of avo farms on the mountain i have a avo orchard on my property , love eating my organic avo's , thats gonna be the biggest thing i miss when we move to the USA. Thats life chit happens. If you want more info let me know ill be happy to give you some.

[babspadget]

Well My husband and I our in the same spot, we have had our home for sale over 2 years, it is on lake huron and have not been able to sell so I know how you feel good luck....

[bubbagirl]

We purchased acreage October 2005. 6 mths later, Hubby was laid off. 9 mths later, I was laid off.

No worries, we're current on the mortgage and what not. Have been hesitant to consider listing it because the area is probably among the worst of the communities hit with houses not selling in the Lansing area (located in Eaton Rapids). We've made some improvements since purchasing; built a pole building with electric, installed a driveway. Neighbors are terrible to us, but would gladly welcome someone like them. We purchased it for $10K less than assessed value and have made improvements. We have to get no less than $20K more than what we paid for it, would be nice for $30K more. Don't have much faith in it fetching what we want anytime soon. We already assume that we'd continue paying on it in the event we relocate out of state... makes a great hunting spot to visit.

Anyone know if land without a house is still selling? I have seen more parcels go up for sale in the past 2-3 mths that what I have seen in years - folks selling off the ol' farm in pieces to get by. It is terrible.

[Siberia]

Originally Posted by TurboState

Renting, under any circumstance, is a waste of money.

Would have to disagree with your statement here, although I do agree with your mentality of "living below ones means" that you have conveyed nicely in your previous posts.

First off, home ownership is 40-45% higher than the mortgage alone. Below is one article out of hundreds on this subject that explains why a $1,000 per month mortgage means you actually spend $1400-$1450 in real costs:

Per http://biz.yahoo.com/pfg/e10buyrent/art011.html

Second, home ownership will only pay off if you fit certain variables, which becomes quite complex and one must use a "buy verus rent" calculator in order to obtain a logical answer. Below is one such calculator for "buy versus rent":

http://finance.yahoo.com/calculator/family-home/hom-06


Again, I enjoy your logic on saving money, yet I do believe there are very few "absolutes" in the world, such as buying is always better financially than renting a home.

Siberia

[GAisGreat]

Originally Posted by TurboState

Now you are arguing just to argue.. It is amazing watching people that rent try and justify that renting isn't stupid.

Renting is stupid, period, and there is no bones about that. Anyone with a shred of financial knowledge will tell you that! Even owning a 50K house would be much better than renting just for the tax benefits. Nobody says you have to run out and buy a 250K house and dump 20K in repairs in it, don't be silly.

Part of the idea of home ownership is creating space that is yours. Renting you just don't have any net worth, you have no collateral, and don't have any measurable tax shelter. All you are doing is pumping money into your landlords pocket. Oh, and I have a rental house that I rent out. I still am perplexed I can find people to rent it for $800 a month when the mortgage costs me only $300. They could just as easily go a few streets over and buy their own 50K house instead of renting. Guess people are lazy or clueless - or both. Whatever, as long as they keep sending me the 800 bones I am happy.

Did you learn this watching one of those 'Secrets to becoming a millionaire in two-weeks' late-night informercials???

We're in a school district where the avg 3-bed home costs about $220k, prop taxes will be about 5k/yr. We're paying less than 1k/mo for a decent apt. that includes water, trash, cable paid for.

So I guess we're stupid, we should be buying a house, double what we spend a month in living expenses, have a home that when we end up losing our jobs like everybody else, will sit on the market for 1-several yrs., and IF we do manage to ever sell, we'll be VERY lucky to get what we paid for it...No to say that buying is ALWAYS better than renting is a really ignorant assumption. Go back to the infomercials.

[Frankawitz]

After reading all these posts the thing that gets me is why would someone even think of making any house payment of $1,000.00 per month. let alone rent at that price? The problem with people they think bigger is better that you get what you pay for, boy are you people dumb, I have been in construction for the past 27 years and what I see people pay for houses are just stupid. Builders laugh at you people who buy new and think you got a great deal if you only knew what goes on day to day on a house when it is being built, But most don't find out intil they have lived in it for some time then they have to fix something oh yeah, then it's time to pay the contractor to fix your new house cause corners were cut here or there to save the builder money. If people would quit living above their means, The only way I could see paying $1,000.00 a month for housing is if I made a $1,000.00 a week free and clear. and this number would come after all exspences were taken out. gas, food, etc for the week. But people do it and when it gets tight boy do they cry. I bought my house 14 years ago this May, I have doubled it's size and tripled it's value, not that I'm wanting to sell it. I see people lossing everything from cars and trucks they can't afford to their houses that they couldn't afford, We are lossing jobs to other States, It's funny how no one has said a thing about the Governor and her Spend and Tax plans for Michigan what's gonna happen if she get's the Taxes she wants, Then with no jobs coming here and people leaving who's gonna pay? If you look at any other State there are jobs all over. Very few here in Michigan, But hey the Gov wants us to be retrained in what? Medical field? My daughter just took a course to become a Medical Billing Rep. well she gradurates in two weeks with a 4.0 GPA and can't find a job, she was OJT at Henry Ford Hospital Billing Dept and after training they told her we aren't hiring right now thank you. Now she's worried about paying for her student loan with money she doesn't have cause she cleans houses with her mother and they don't make all that much. enough to get by month to month. I told her to go back to school and take out more loans for school, Cause I know the Governor wants us all to be so Smart. I told her then find a job in another State like her cousin did. then you pay back the loans, But for young people to stay here I wouldn't if I was in my twenties, Cause there ain't nothing worth staying here for, the Lakes they don't pay the bills.

[deeannapayk]

Hi! We currently live in St. Charles in a 3br rental home. We have been here for over a year, so now we are on month to month basis. My dad had a duplex in saginaw twp, so I know the hesitation about renting your home out. If you do decide to though, we are hoping to move to the Swan Valley school district. How much will you be asking?
deeannapayk@yahoo.com

[Coldjensens]

Originally Posted by cksh

Now, renting vs buying. Renting all the way if you want to save money. CA has the biggest divide because there 1k sq ft homes are 800k. You could rent for 1500-2k and invest the rest you would have to pay if you had that 800k mortgage. Real estate is cyclic (which most realtors don't know because they have only been on the job 5 years and the old timers aren't gonna tell you because they want you to buy and sell to make their living)

That must be a different California than the one that we lived in. We had a 2600 s.f. victorian house. We sold it in 2005 for $757,000. It is now probably worth about $600,000 to $650,000. It will go back up after a while, but it will be another three years at least before it gets up over $800,000 and that is for 2600 s.f. not 1000 s.f.

When we bought our house the mortgage was about $2000 including taxes and insurance. Rent for a similar house was about $1400. After a few years rent for a similar house was about $3200, but our mortgage was still $2000. On top of that we wrote off the mortgage interest and got about $650 a month off of our taxes. Even setting aside the equity/appreciation that you get long term, owning is a far better deal than renting.


Short term, right now you will likely lose money buying a house. Long term real estate always goes up. Even if it does not appreciate much, you will be ahead of where you would be renting.

Buying now in a recessed market is the best time to buy. Do not wait until prices go back up, you need to catch the market on the upswing.


The big advantage to a renter is that it leaves you free to move anytime you find something better. If you are going to move around a lot, that is the best option. If you buy, you may have to stay put until the market recovers.

[Michigansnowflake]

I think we moved while the moving was still good. We sold our Clinton Twp home and bought a home on 35 acres in one month. People do a double take when we tell them we turned a home and bought one in less than 30 days.

We have lived here a little over 2 years now and homes that were up for sale then are still up for sale as I type.

I feel for people trying to sell now a days, its tough, but I thank my lucky stars it all worked out for us so smoothly. It was just meant to be.

oh, this was 2006 that we sold and moved

[sikes0000]

Originally Posted by Coldjensens

That must be a different California than the one that we lived in. We had a 2600 s.f. victorian house. We sold it in 2005 for $757,000. It is now probably worth about $600,000 to $650,000. It will go back up after a while, but it will be another three years at least before it gets up over $800,000 and that is for 2600 s.f. not 1000 s.f.

When we bought our house the mortgage was about $2000 including taxes and insurance. Rent for a similar house was about $1400. After a few years rent for a similar house was about $3200, but our mortgage was still $2000. On top of that we wrote off the mortgage interest and got about $650 a month off of our taxes. Even setting aside the equity/appreciation that you get long term, owning is a far better deal than renting.


Short term, right now you will likely lose money buying a house. Long term real estate always goes up. Even if it does not appreciate much, you will be ahead of where you would be renting.

Buying now in a recessed market is the best time to buy. Do not wait until prices go back up, you need to catch the market on the upswing.


The big advantage to a renter is that it leaves you free to move anytime you find something better. If you are going to move around a lot, that is the best option. If you buy, you may have to stay put until the market recovers.

If you sold for 750K for that sqft you either live so far away from work you have start driving the night before to get to work on time the next day Or lived in one undesirable neighborhood.

I have family out there and for 900 sq ft it is 400k. And this is far outside of S.F. not some suburb of LA. Things have gone downhill since 05 but not that much.

No one could ever convince me that buying is better then renting. So what if you get to write it off. Throw taxes, upkeep, association fees and not to mention the mortage payments and you cannot compete with renting. Michigan is a little better because our homes have always been affordable. But considering buying vs renting in the same neighborhood it is still cheaper out here in the Det suburbs for me to rent. I look alot at 1500 sq ft homes and they are 180 to 200k. Thats 1k a month on the mortage for 180k (and one nice interest rate). Downpayment to lower the cost? please. Thats my money. Taxes are gonna run me 3k/year. Association about 100 to 150/month. Maintenance is hard to judge but something always needs fixing.

I can rent the same sq-ft for 1k. thats it. So what if the landlord includes taxes int h payment. Still cheaper. Don't even get me started on apartments. You can find places with free heat, water etc.

Long term you are better of investing that money elsewhere. What is your house going to appreciate for out here in a good year? 2-3%? I can just about do that at a bank. Check around online. Unless you do it for a living, and can ride out the long cyles, investing in real estate is always a bad idea. Of course you can always stay in the same house for 30 years. And will start to see a return since you will no longer be making payments after 30.

Buy a house because you want to make it a home Not because you want to make money or think its cheaper then renting.