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View Poll Results: Rent or Own?
I Rent 3 30.00%
I Own 7 70.00%
Voters: 10. You may not vote on this poll

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Old 12-17-2011, 11:28 AM
 
Location: Saint Louis, MO
3,483 posts, read 9,028,914 times
Reputation: 2480

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Thought this would be an interesting thread. And homes includes Apartment Homes, Townhouses, etc...essentially "WHERE-EVER YOU LIVE". Just wondering if folks on this board tend to Rent or Own, and if you have any reasons for which one you've chosen feel free to include those too!
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Old 12-17-2011, 11:31 AM
 
Location: Saint Louis, MO
3,483 posts, read 9,028,914 times
Reputation: 2480
Own - Hopefully we'll be here for ten years or so before moving on to anything else. It's also a buyers market right now, hopefully that doesn't continue FOREVER!
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Old 12-17-2011, 12:40 PM
 
1,783 posts, read 3,891,441 times
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I rent now but I owned a house in St. Louis until September. Real estate is so affordable that I think it's crazy not to buy in St. Louis. The bang for your buck and wide variety of housing options really makes St. Louis an excellent place for home ownership and an advantage the area has over many cities.

However, the key point potential buyers need to keep in mind is the length of time they will be in the area. If it's definitely long term (5+ years) then buying is a no brainer. If you think it's likely or even somewhat possible you'll be leaving the area in a couple of years then I'd play it safe and rent. Of course some people also just prefer renting and that's understandable too.

As someone who lost money having to sell my house, I'm a bit turned off to home ownership at the moment, but if I knew I was staying in a place long term, I'd do it again.
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Old 12-17-2011, 08:22 PM
 
Location: Saint Louis, MO
3,483 posts, read 9,028,914 times
Reputation: 2480
Totally understand losing money having to sell a house, I did that back in 09' after buying in 08'. I was lucky to not sell for much of a loss, but took a total bath with associated fees...gah! Hope to not do that again!
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Old 12-19-2011, 07:13 AM
 
Location: Tower Grove East, St. Louis, MO
12,063 posts, read 31,658,907 times
Reputation: 3800
My SO and I rent, for now, for exactly the same reason Boom points out you should -- we don't think we'll be in our current location for enough time to make buying worth it.

Our plan, once we move to St. Louis, is to buy a four-family home and live in one unit while renting out the other two. We'd plan to stay for right about two years before using the money we've made/saved to put a down payment on a 2-family. We'll keep the four family and be renting out 5 total units.
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