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I was a happy camper the day i paid off my home! taxes are a fact of life. there are all kinds like wage, property, sales, estate, capital gains, an so on. THEY gonna get your money don't you worry about it! but like beck once said "its where its at" that you own the home too that factors into a lot of it too. when you have to pay taxes and utilities be sure to drop the insurance and you monthly expenses go way down. In order for you get more money to spend on gas for the boat! yea your gonna need a little maintenance now and then but im a get er done! (when it absolutely has to be done) kind of guy. if you like where you live profit or loss from buying or selling is moot. if you love where you live and life is good and you are not paying interest to a bank every month then you too can consider yourself blessed. this information is only pertaining to the home you live in the most, it does not apply to 2nd 3rd or 4th homes nor any other real estate investments.
My only gripe is the one size fits all comments you see like there is no rationalization for renting or renters are losers or renters are throwing money away .
All our reasons for doing what we do are going to be very different …many only see things in black or white and never look any further than their nose to understand why other areas are different or there are reasons that making renting a superior choice in situations.
We could never amassed the money we did if we continued to own our home and didn’t rent and invest elsewhere in far more lucrative deals
Two groups will fight you tooth and nail on this.
-Real estate agents who are selling the homeownership dream.
-Homeowners who are deeply invested, financially and emotionally, in the dream.
If you're doing great as a renter, then that is a bit an affront to their beliefs, and is often not well-taken.
-Real estate agents who are selling the homeownership dream.
-Homeowners who are deeply invested, financially and emotionally, in the dream.
If you're doing great as a renter, then that is a bit an affront to their beliefs, and is often not well-taken.
Quote:
Originally Posted by mathjak107
My only gripe is the one size fits all comments you see like there is no rationalization for renting or renters are losers or renters are throwing money away .
All our reasons for doing what we do are going to be very different …many only see things in black or white and never look any further than their nose to understand why other areas are different or there are reasons that making renting a superior choice in situations.
We could never amassed the money we did if we continued to own our home and didn’t rent and invest elsewhere in far more lucrative deals
It is heresy here lol.
Renters are supposed to be poorer and throwing money away.. it kills the whole story line.
The fact one can rent and invest a lump sum elsewhere and make not only more than the rent but all the living expenses for the year is a hard concept to imagine I guess
Only people who haven't experienced a market implosion would consider another one a stroke of luck.
A recurrence of 2008--2012 is nothing to hope for.
That depends entirely on one's personal history... same holds for any investment, including stocks. As a long-term stockholder, I cringe at the barbarous sadism of the doomsday crowd, which is cheering for a crash. But with recent experience as a former homeowner and now a renter, I can't entirely disavow their sentiment. To watch local housing prices burgeon, without having myself participated, results in feeling of bilious envy. It's hard to feel sympathy and solicitude for my Fellow Man, when the persons in question profited handsomely, while I sheepishly sat on the sidelines.
Quote:
Originally Posted by bigh110
... yea your gonna need a little maintenance now and then but im a get er done! (when it absolutely has to be done) kind of guy.
If your house is fundamentally sound, then yes, maintenance may only be an occasional and minor chore. My former house had a bad foundation, was incorrectly sited and improperly built. Thus the desire to get rid of it, and now a feeling of good-riddance.
Quote:
Originally Posted by bigh110
if you like where you live profit or loss from buying or selling is moot. ....
That's a good point. I cared little for my former locale. It was merely a place to work. When the job concluded, relocation was an obvious decision. Though for decades I owned the house outright, it actually felt like renting... because I was never emotionally invested in the area, the state, the community or its ethos.
ohio-peasant, how DID you sell your home if it had all those problems?
I don't wish ill on anyone; I simply wish for those looking to buy halfway reasonable prices (not $200-300k over assessed value by the time bidding wars end).
ohio-peasant, how DID you sell your home if it had all those problems?
It was sold at a loss, and even then, only courtesy of the recent price run-up. It was bought by a flipper, cash-offer, no inspections, as-is.
As it happens, the house is back on the market, at a much higher price. The flipper did a superb job of cosmetic flourishes, redoing the bathrooms, kitchen, flooring, HVAC system and so on. But there is no evidence of any serious attention to the foundation. Because I lack intimate knowledge, and can only make inferences from the photos in the new ad, it would be untoward and unfair to formally levy blame. But I do have my suspicions, going from how the new framing and sheetrock gingerly wrap around structural elements which are now hidden, and with which I'm familiar. There were also leaking chimneys/fireplaces, where there is now sheetrock covering the offending areas, as if the fireplaces never existed.
But in the broader picture, had the offending maladies occurred for example in a comparable house in Los Angeles, then the requisite repairs, however costly, would have been justified by the rise in prices, and the high price of land. Even if I paid full-retail, lacking acumen in the trades myself, the value-proposition would still be sound. In a similar way, if you own a Z28 Camaro from 1967, there is merit in paying a qualified shop to do a full restoration and repair of rust. If however you own a 1983 Citation, such a remedial campaign would be stupid. This is another way in which we don't really "own" our houses. Instead, the market owns them. A strong and vibrant market rewards us as owners, justifying good stewardship and if necessary aggressive measures of intervention. A weak and moribund market punishes us as owners, resulting in bedraggled resignation and neglect.
To watch local housing prices burgeon, without having myself participated, results in feeling of bilious envy. It's hard to feel sympathy and solicitude for my Fellow Man, when the persons in question profited handsomely, while I sheepishly sat on the sidelines.
Given that you're a long-term stockholder, I would assume you've done OK lately yourself.
To me, they're usually jealous haters or are hoping to get in cheap. It's like the people that root for stocks to fail. Just because you missed the boat doesn't mean everyone else should suffer.
And that's exactly what happened. The person who wrote that we're now in a real estate bubble that "with luck" will burst soon, has been talking about buying a beach condo or house since around 2015 but always found a reason not to pull the trigger. And now apparently can't afford to. Or at least no longer wants to at these so-called inflated "bubble" prices.
And that's exactly what happened. The person who wrote that we're now in a real estate bubble that "with luck" will burst soon, has been talking about buying a beach condo or house since around 2015 but always found a reason not to pull the trigger. And now apparently can't afford to. Or at least no longer wants to at these so-called inflated "bubble" prices.
It's easy (and somewhat satisfying) to disparage that person, but let's ask ourselves this: suppose that our hero overcomes his qualms, and goes ahead and buys that dream-house. But then, 5 years later, it turns out that prices are 20% lower than they are now. Is such a possibility vanishingly unlikely? And if not, then ought we really to be condemning this person for his trepidation and hesitancy?
It's easy (and somewhat satisfying) to disparage that person, but...
Now, now; let's not rob Madman of his greatest pleasure in life!
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