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Plus, I forgot to mention that if you are renting in a place where ALL of the utilities are included, then thats another expense that you are not paying if you were in a house.
Utilities (cable, electric, water, heat, gas etc) can easily reach about 300 extra dollars a month, if not more....
Thats about 3600+ dollars a year you would be pocketing if you rented, 3600 bucks in YOUR pocket.
Even if you rent in a place where not all of the utilties are included, some usually are, such as heat, gas or water....
Plus, I forgot to mention that if you are renting in a place where ALL of the utilities are included, then thats another expense that you are not paying if you were in a house.
Utilities (cable, electric, water, heat, gas etc) can easily reach about 300 extra dollars a month, if not more....
Thats about 3600+ dollars a year you would be pocketing if you rented, 3600 bucks in YOUR pocket.
Even if you rent in a place where not all of the utilties are included, some usually are, such as heat, gas or water....
Do you believe the landlord is subsidizing your utility use, or do you believe it has been factored into your rent?
Do you believe the landlord is subsidizing your utility use, or do you believe it has been factored into your rent?
Who knows? They may be writing it off on their taxes, or they may not haha. The true issue here is that you don't have to pay extra for it if it is all included.
I'm glad I bought a house. I did it the hard way, bought cheap, fixed it up, have 2 roommates.
I pay my share of $600 a month for the mortgage, and pay property tax, while the other two cover the rest of the mortgage, and then I'll have what to sell for a pretty penny and all paid off in 10 years.
Owning a house that you paid top dollar for at the peak of those high housing prices, and paying top dollar because it had that extra fancy bathroom you wanted, 2 acres of land, and high property tax, was the problem for people with "champagne dreams on beer money" (read - 90% of Americans). A lot of people want everything for nothing,and thanks to other greedy people, its possible. But it all catches up with you at some point.
Plus, I forgot to mention that if you are renting in a place where ALL of the utilities are included, then thats another expense that you are not paying if you were in a house.
Utilities (cable, electric, water, heat, gas etc) can easily reach about 300 extra dollars a month, if not more....
Thats about 3600+ dollars a year you would be pocketing if you rented, 3600 bucks in YOUR pocket.
Even if you rent in a place where not all of the utilties are included, some usually are, such as heat, gas or water....
Who knows? They may be writing it off on their taxes, or they may not haha. The true issue here is that you don't have to pay extra for it if it is all included.
If it is already included, you're paying for it. A landlord is not going to subsidize your utilities. They're in it to make money.
If it is already included, you're paying for it. A landlord is not going to subsidize your utilities. They're in it to make money.
and the tenant is the chump paying the mortgage for the landlord that's why I never rented. Personally if you're going to pay mortgage, better off being your own than someone elses.
If it is already included, you're paying for it. A landlord is not going to subsidize your utilities. They're in it to make money.
What kind of apartments are you renting with all utilities included?
I'll tell you, illegal apartments. most likely small basement apartments, or illegal second floor apartments. no real landlord is going to include all utilities, it really isn't in their best interest, as renters have 0 incentive to monitor useage.
again people aren't talking apples to apples comparisons, this guy is talking about renting something with utilities included, great, where are the whole house rentals in decent areas with utilities included for 1150 a month? the same houses people are buying for 400k?
And whats with the person a few posts back talking about a house worth 130K? that isn't LI real estate. there are no houses on LI that you can live in priced in that area.
all this talk of, well if you bought in 88 and your house gets paid off, well that is better than renting... well, yeah, pay 30 years of mortgage payments, it is better than renting. buying today, 20-30 years from now, owning the home is probably better than renting.
the benefit in owning shows up in the long term analysis, not in the short term.
and yeah, theoretically the invest the difference theory works, in some markets with certian differences in rent vs own expenses and smart investment, on a tuesday with the sun out at 3:18pm. Point is certian specific circumstances, but again, when you factor in the tax incentives the goverment has baked into the tax code, it really skews the analysis.
Nope, what does he know? The guy trying to sell his split in Holbrook for 500K will tell you "it's always gonna go up!!".
Right.
That being said, to play devils advocate, if this kind of news keeps getting out and prices continue to stagnate or fall, it will start to make sense to buy again soon, as the demand for rentals will soar, as will the prices, and the playing field will be leveled.
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that's why I never rented. Personally if you're going to pay mortgage, better off being your own than someone elses.
