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Old 09-27-2008, 09:36 PM
 
5,340 posts, read 13,960,462 times
Reputation: 1189

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Renting Makes More Financial Sense Than Homeownership - Yahoo! Real Estate--

I found this funny because I was thinking of my grandfather today. When he'd tell me "Oh, owning a house is nice, but there is a lot to be said for renting too my dear..." I just repeated that line to my b-i-l who rents... as I was rattling off how miserable I am about recent plumbing costs... I said "I miss the day of calling my landlord and saying 'it's broke, please fix-it!"

Then I come home and see this.

Just wanted your thoughts, but don't get me wrong... I'm not selling. LOL
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Old 09-27-2008, 10:15 PM
 
Location: Central NJ
1,041 posts, read 3,166,049 times
Reputation: 374
oh - there are definitely advantages. We are renting now, and it's kind of nice to be able to tell our landlord to take care of the termite problem... or take care of the plumbing problem... but then I hear the loud music of our upstairs neighbor... and I realize I want to own again.
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Old 09-27-2008, 10:46 PM
 
1,552 posts, read 4,637,277 times
Reputation: 509
It all depends on the cost of housing. Certainly, during the real estate bubble, and to the extent that certain areas of the country (many will say NY-metro among them) have not gotten through the bubble yet, it makes more sense to rent than to own.
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Old 09-27-2008, 11:02 PM
 
5,340 posts, read 13,960,462 times
Reputation: 1189
If I could have been guaranteed that I could have kept my old apartment indefinately, I think I would have stayed forever.

We rented in a nice - not fancy - but safe and decent town. Two family house. The owner was Greek and lived in Greece 6-9 monts of the year. He just wanted people he liked and trusted living in his home. The fact that I am 1/2 Greek had him all giddy... so we got the place. Stayed there for a long time and my rent went up marginally just once. I was paying (SIT PLEASE) $850 WITH Utilities for a 3 BR apt. A BIG NICE 3 BR apt. I would have stayed forever if I could have! But I knew that the dream would end one day. Then when the kids came along, well, we wanted a pet (no pets there) and a yard, etc.... etc....

But there are days I think wow, I wish I was back there! LOL!
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Old 09-28-2008, 04:08 PM
 
Location: Jersey City
7,057 posts, read 19,329,539 times
Reputation: 6922
I want to own, I really do, and one day I will. But now I can afford to rent the type of place I feel I may never be able to afford to own.
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Old 09-28-2008, 04:35 PM
 
Location: NJ
1,495 posts, read 5,049,476 times
Reputation: 957
I think at the moment for young people it is best to rent and save up for buying later. My husband and I are waiting until we have at least 40k to buy anything.. half way there already Want to make sure we have the 20% And if the economy gets bad, we have a nice emergency fund.
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