Home › Forums › Closed Forums › Buying and Selling RE › 5 Reasons Renting Still Beats Buying
- This topic has 115 replies, 16 voices, and was last updated 15 years, 11 months ago by
nostradamus.
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AuthorPosts
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March 10, 2009 at 5:10 PM #364183March 10, 2009 at 8:21 PM #363709
paramount
ParticipantThis Summer I am planning to move out of Temecula and rent an apt. in the RB area.
I am staying in my house until I can hopefully refinance under Obama’s plan – and then I’m getting the hell out of Temecula.
March 10, 2009 at 8:21 PM #363996paramount
ParticipantThis Summer I am planning to move out of Temecula and rent an apt. in the RB area.
I am staying in my house until I can hopefully refinance under Obama’s plan – and then I’m getting the hell out of Temecula.
March 10, 2009 at 8:21 PM #364154paramount
ParticipantThis Summer I am planning to move out of Temecula and rent an apt. in the RB area.
I am staying in my house until I can hopefully refinance under Obama’s plan – and then I’m getting the hell out of Temecula.
March 10, 2009 at 8:21 PM #364190paramount
ParticipantThis Summer I am planning to move out of Temecula and rent an apt. in the RB area.
I am staying in my house until I can hopefully refinance under Obama’s plan – and then I’m getting the hell out of Temecula.
March 10, 2009 at 8:21 PM #364302paramount
ParticipantThis Summer I am planning to move out of Temecula and rent an apt. in the RB area.
I am staying in my house until I can hopefully refinance under Obama’s plan – and then I’m getting the hell out of Temecula.
March 10, 2009 at 11:45 PM #363763underdose
Participant[quote=nostradamus]
…
10. Rents going down (TBD)
…[/quote]TBD indeed. With all the government borrowing and printing, and most smart people (most notably on this website, Rich Toscano, you know, the guy who was dead right about the bubble) anticipating runaway inflation before too long, rents going UP could be an argument for owning instead. If you go in fully expecting short term price declines but long term inflation, a 30 year fixed that shrinks in real terms overall might prove to be better than free floating rents.
There are good reasons to either rent or own. It all comes down to your personal situation and what’s right for you.
March 10, 2009 at 11:45 PM #364051underdose
Participant[quote=nostradamus]
…
10. Rents going down (TBD)
…[/quote]TBD indeed. With all the government borrowing and printing, and most smart people (most notably on this website, Rich Toscano, you know, the guy who was dead right about the bubble) anticipating runaway inflation before too long, rents going UP could be an argument for owning instead. If you go in fully expecting short term price declines but long term inflation, a 30 year fixed that shrinks in real terms overall might prove to be better than free floating rents.
There are good reasons to either rent or own. It all comes down to your personal situation and what’s right for you.
March 10, 2009 at 11:45 PM #364209underdose
Participant[quote=nostradamus]
…
10. Rents going down (TBD)
…[/quote]TBD indeed. With all the government borrowing and printing, and most smart people (most notably on this website, Rich Toscano, you know, the guy who was dead right about the bubble) anticipating runaway inflation before too long, rents going UP could be an argument for owning instead. If you go in fully expecting short term price declines but long term inflation, a 30 year fixed that shrinks in real terms overall might prove to be better than free floating rents.
There are good reasons to either rent or own. It all comes down to your personal situation and what’s right for you.
March 10, 2009 at 11:45 PM #364245underdose
Participant[quote=nostradamus]
…
10. Rents going down (TBD)
…[/quote]TBD indeed. With all the government borrowing and printing, and most smart people (most notably on this website, Rich Toscano, you know, the guy who was dead right about the bubble) anticipating runaway inflation before too long, rents going UP could be an argument for owning instead. If you go in fully expecting short term price declines but long term inflation, a 30 year fixed that shrinks in real terms overall might prove to be better than free floating rents.
There are good reasons to either rent or own. It all comes down to your personal situation and what’s right for you.
March 10, 2009 at 11:45 PM #364357underdose
Participant[quote=nostradamus]
…
10. Rents going down (TBD)
…[/quote]TBD indeed. With all the government borrowing and printing, and most smart people (most notably on this website, Rich Toscano, you know, the guy who was dead right about the bubble) anticipating runaway inflation before too long, rents going UP could be an argument for owning instead. If you go in fully expecting short term price declines but long term inflation, a 30 year fixed that shrinks in real terms overall might prove to be better than free floating rents.
There are good reasons to either rent or own. It all comes down to your personal situation and what’s right for you.
March 11, 2009 at 9:06 AM #363828UCGal
Participant[quote=underdose]There are good reasons to either rent or own. It all comes down to your personal situation and what’s right for you.[/quote]
This is the take-away point. Rent vs. own is not a one size fits all.
If we were renting we would not have been able to build a handicap accessible granny flat for my in laws to live in. Building it may not have been the best use of our money, when you compare it to investing, but it was the right decision for our family needs, our lifestyle, etc. Math doesn’t factor in the upside benefit of having my kids’ grandparents live 100 feet away.
But, renting would have been far cheaper than buying. And not building the companion unit would have been a LOT cheaper.
Everyone has to do the cost/benefit analysis for themselves.
I’m looking at less than 9 years till the mortgage is paid off. Realistically, less than 10 years (probably around 5 years) before my in-laws aren’t able to live independantly or pass on… at which point we’ll rent out the granny flat for income… It’s all good in the long run.
March 11, 2009 at 9:06 AM #364116UCGal
Participant[quote=underdose]There are good reasons to either rent or own. It all comes down to your personal situation and what’s right for you.[/quote]
This is the take-away point. Rent vs. own is not a one size fits all.
If we were renting we would not have been able to build a handicap accessible granny flat for my in laws to live in. Building it may not have been the best use of our money, when you compare it to investing, but it was the right decision for our family needs, our lifestyle, etc. Math doesn’t factor in the upside benefit of having my kids’ grandparents live 100 feet away.
But, renting would have been far cheaper than buying. And not building the companion unit would have been a LOT cheaper.
Everyone has to do the cost/benefit analysis for themselves.
I’m looking at less than 9 years till the mortgage is paid off. Realistically, less than 10 years (probably around 5 years) before my in-laws aren’t able to live independantly or pass on… at which point we’ll rent out the granny flat for income… It’s all good in the long run.
March 11, 2009 at 9:06 AM #364275UCGal
Participant[quote=underdose]There are good reasons to either rent or own. It all comes down to your personal situation and what’s right for you.[/quote]
This is the take-away point. Rent vs. own is not a one size fits all.
If we were renting we would not have been able to build a handicap accessible granny flat for my in laws to live in. Building it may not have been the best use of our money, when you compare it to investing, but it was the right decision for our family needs, our lifestyle, etc. Math doesn’t factor in the upside benefit of having my kids’ grandparents live 100 feet away.
But, renting would have been far cheaper than buying. And not building the companion unit would have been a LOT cheaper.
Everyone has to do the cost/benefit analysis for themselves.
I’m looking at less than 9 years till the mortgage is paid off. Realistically, less than 10 years (probably around 5 years) before my in-laws aren’t able to live independantly or pass on… at which point we’ll rent out the granny flat for income… It’s all good in the long run.
March 11, 2009 at 9:06 AM #364310UCGal
Participant[quote=underdose]There are good reasons to either rent or own. It all comes down to your personal situation and what’s right for you.[/quote]
This is the take-away point. Rent vs. own is not a one size fits all.
If we were renting we would not have been able to build a handicap accessible granny flat for my in laws to live in. Building it may not have been the best use of our money, when you compare it to investing, but it was the right decision for our family needs, our lifestyle, etc. Math doesn’t factor in the upside benefit of having my kids’ grandparents live 100 feet away.
But, renting would have been far cheaper than buying. And not building the companion unit would have been a LOT cheaper.
Everyone has to do the cost/benefit analysis for themselves.
I’m looking at less than 9 years till the mortgage is paid off. Realistically, less than 10 years (probably around 5 years) before my in-laws aren’t able to live independantly or pass on… at which point we’ll rent out the granny flat for income… It’s all good in the long run.
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