Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Massachusetts > Boston
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 11-14-2014, 07:44 AM
 
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
41,936 posts, read 36,962,945 times
Reputation: 40635

Advertisements

Quote:
Originally Posted by Whatsnext75 View Post
Well if buying a house is so problematic why do so many people do it?

A lot of them never sat down and properly did the math and bought into the myth that renting is "throwing money away".

Many people believe it is part of "The American Dream", they've been brainwashed.

For many it is a lifestyle thing and they want to make a home and raise a family in a particular area. This is probably the best reason to buy a home: lifestyle and stability.

Lots of people also don't have fiscal discipline and it is a forced savings plan.
Reply With Quote Quick reply to this message

 
Old 11-14-2014, 07:46 AM
 
3,268 posts, read 3,323,101 times
Reputation: 2682
I see what you are saying but there are lots of advantages to owning a home over renting. one being that it's yours, you own it and you can do whatever you want to it.
Reply With Quote Quick reply to this message
 
Old 11-14-2014, 07:51 AM
 
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
41,936 posts, read 36,962,945 times
Reputation: 40635
Quote:
Originally Posted by Whatsnext75 View Post
I see what you are saying but there are lots of advantages to owning a home over renting. one being that it's yours, you own it and you can do whatever you want to it.

Except that these aren't true, not for some time. The bank owns it for a long time. And you aren't completely free to do with it whatever you want; most places (in this area) do have restrictions.
Reply With Quote Quick reply to this message
 
Old 11-14-2014, 07:56 AM
 
3,268 posts, read 3,323,101 times
Reputation: 2682
'Except that these aren't true, not for some time. The bank owns it for a long time. And you aren't completely free to do with it whatever you want; most places (in this area) do have restrictions.'

So if want to put shutters on a house you're telling me the bank is going to tell me that i cant? Or if i want to build a patio out back the bank is going to tell me no?

On another note, wow you are really against home ownership.
Reply With Quote Quick reply to this message
 
Old 11-14-2014, 07:56 AM
 
Location: 42°22'55.2"N 71°24'46.8"W
4,848 posts, read 11,812,501 times
Reputation: 2962
Quote:
Originally Posted by Whatsnext75 View Post
'The market might crash again in 3 years and your kids will be stuck going to BPS schools for a long time.'

Private school

Well if buying a house is so problematic why do so many people do it?
If you can afford private school then you wouldn't be looking at $400k houses in Dorchester. Sorry, I'm not trying to argue here - just giving you some outside perspective to help you make the right decision. Do you plan on staying in the city forever or do you want to eventually move to the suburbs? If you want to move to the suburbs, then it seems that there are too many "ifs" in your decision to buy in the city. And for the record I'm not against home ownership. I've bought 3 homes in the past 10 years. I consider myself to be extremely lucky with timing though because I was able to sell my first 2 homes at a 30% and 15% profit. I have friends who bought and sold either 2 years before or after me and they lost over $100k on their home.
Reply With Quote Quick reply to this message
 
Old 11-14-2014, 08:02 AM
 
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
41,936 posts, read 36,962,945 times
Reputation: 40635
Quote:
Originally Posted by Whatsnext75 View Post
'Except that these aren't true, not for some time. The bank owns it for a long time. And you aren't completely free to do with it whatever you want; most places (in this area) do have restrictions.'

So if want to put shutters on a house you're telling me the bank is going to tell me that i cant? Or if i want to build a patio out back the bank is going to tell me no?

On another note, wow you are really against home ownership.

The bank probably will not say no to the patio, but the town might. I've seen that denied.

The shutters are minor things.

And no, I'm not against home ownership. If you saw my thread history I'm in the process of looking at locations to buy in the coming year or two. I have the money saved and the income already. I saved it because I decided to rent for so long. It is just not a cut and dry situation. It only makes sense in specific situations.
Reply With Quote Quick reply to this message
 
Old 11-14-2014, 08:18 AM
 
Location: a bar
2,726 posts, read 6,113,588 times
Reputation: 2981
What does any of this have to do with race?
Reply With Quote Quick reply to this message
 
Old 11-14-2014, 08:34 AM
 
3,268 posts, read 3,323,101 times
Reputation: 2682
'If you can afford private school then you wouldn't be looking at $400k houses in Dorchester.'

lol private school is less than buying a house. I went to private school (the school i went to is now 40k a year) and there's always payment plans, plus my parents would help...so thanks very much but you don't always know someone's financial situation. As I"ve said before we can easily AFFORD a house in boston, I am simply bitching about how much it costs for something decent. If I could move to another state I probably would...but hubby loves his job so we're here.
Reply With Quote Quick reply to this message
 
Old 11-14-2014, 08:54 AM
 
3,268 posts, read 3,323,101 times
Reputation: 2682
'What does any of this have to do with race?'

It seems like the 'affordable/cheap' areas are in the ghettos with mainly black people. It's just sad that this is how life still is.
Reply With Quote Quick reply to this message
 
Old 11-14-2014, 08:57 AM
 
Location: Denver and Boston
2,071 posts, read 2,210,287 times
Reputation: 3831
@OP... unlike some on this forum, I think there are many good reasons to own your own home, and I am not going to try to talk you out of it. But I am curious where you would live today, if you could live outside of the city of Boston? What suburb that you like would be close enough to your Husband's work, but would still allow you to purchase a SFR for under $360,000.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Massachusetts > Boston

All times are GMT -6. The time now is 01:47 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top