Rent vs. Buy

[SD Realtor]

DGH I believe Santee is going to continue to run downhill pretty hard. Outlying areas including Santee, Lakeside, Escondido, El Cajon, etc will get rammed pretty hard through 08 and 09. My advice would be to sell as well. If you are going to purchase from your sibs then yes, get a termite inspection, get a physical inspection, do as much as you can to build in a cushion because it is not a question of will the home depreciate, it is a question of how much and how long it will go on.

SD Realtor

[Anonymous]

I don’t feel bad renting either but we had been considering a larger rental which would cost considerably more than the $1350 we pay for the 3/1 we live in now. We wanted more space as the kids are getting bigger. So, we were thinking we were going to have to go closer to $2,000 a month for a larger house. I agree that Santee is going to continue to deflate, I was just trying to determine what kind of price might make it worth our while to buy instead of rent. Maybe right now there is no kind of price that would make it worth our while. Anyway, thanks for the your advice. I appreciate it. I probably need to wait until after a home inspection since I think the termites have been busy for decades. Thanks. D

[Anonymous]

I don’t feel bad renting either but we had been considering a larger rental which would cost considerably more than the $1350 we pay for the 3/1 we live in now. We wanted more space as the kids are getting bigger. So, we were thinking we were going to have to go closer to $2,000 a month for a larger house. I agree that Santee is going to continue to deflate, I was just trying to determine what kind of price might make it worth our while to buy instead of rent. Maybe right now there is no kind of price that would make it worth our while. Anyway, thanks for the your advice. I appreciate it. I probably need to wait until after a home inspection since I think the termites have been busy for decades. Thanks. D

[Anonymous]

I don’t feel bad renting either but we had been considering a larger rental which would cost considerably more than the $1350 we pay for the 3/1 we live in now. We wanted more space as the kids are getting bigger. So, we were thinking we were going to have to go closer to $2,000 a month for a larger house. I agree that Santee is going to continue to deflate, I was just trying to determine what kind of price might make it worth our while to buy instead of rent. Maybe right now there is no kind of price that would make it worth our while. Anyway, thanks for the your advice. I appreciate it. I probably need to wait until after a home inspection since I think the termites have been busy for decades. Thanks. D

[Anonymous]

I don’t feel bad renting either but we had been considering a larger rental which would cost considerably more than the $1350 we pay for the 3/1 we live in now. We wanted more space as the kids are getting bigger. So, we were thinking we were going to have to go closer to $2,000 a month for a larger house. I agree that Santee is going to continue to deflate, I was just trying to determine what kind of price might make it worth our while to buy instead of rent. Maybe right now there is no kind of price that would make it worth our while. Anyway, thanks for the your advice. I appreciate it. I probably need to wait until after a home inspection since I think the termites have been busy for decades. Thanks. D

[Anonymous]

I don’t feel bad renting either but we had been considering a larger rental which would cost considerably more than the $1350 we pay for the 3/1 we live in now. We wanted more space as the kids are getting bigger. So, we were thinking we were going to have to go closer to $2,000 a month for a larger house. I agree that Santee is going to continue to deflate, I was just trying to determine what kind of price might make it worth our while to buy instead of rent. Maybe right now there is no kind of price that would make it worth our while. Anyway, thanks for the your advice. I appreciate it. I probably need to wait until after a home inspection since I think the termites have been busy for decades. Thanks. D

[NotCranky]

Hi DGH,
I have torn many a house apart for remodels and additions. From this experience I would not think termites on the house you are describing could have a very detrimental effect. Neglect, dry rot and cheap/poor construction would be more likely a cause for expensive defects. I am not saying termites can’t do some damage and I guess what is serious in one person’s eyes is minor in an other’s. Most termite issues are discovered in remodels and repairs and get fixed as they are exposed and the life of the house goes on. Until then, they get treatment occasionally and superficial repairs. Termite work to get a house through escrow is superficial and a ripoff most of the time.It also does not have to be automatically included in the sale.

I think your issue with keeping or selling the house for other reasons is little more complex. My instincts say. Why not start new just to have more ability to exercise your freedom of choice. Learn more about the market meanwhile. If you were going to get the house at an obvious discount then maybe that opinion is out the window already. Be careful to avoid effectively buying your siblings out at a higher price than the property is worth or face accepting depreciation all by yourself. I have seen this happen recently and it is unfortunate to say the least.

Try to put a cost comparisions picture together. Taxes, commission or avoidance of them etc. We don’t know how dealings with your siblings would proceed, so IMO,can’t really advise. You didn’t mention any emotional attachment to that particular house either so maybe that is a factor? Good luck.

[NotCranky]

Hi DGH,
I have torn many a house apart for remodels and additions. From this experience I would not think termites on the house you are describing could have a very detrimental effect. Neglect, dry rot and cheap/poor construction would be more likely a cause for expensive defects. I am not saying termites can’t do some damage and I guess what is serious in one person’s eyes is minor in an other’s. Most termite issues are discovered in remodels and repairs and get fixed as they are exposed and the life of the house goes on. Until then, they get treatment occasionally and superficial repairs. Termite work to get a house through escrow is superficial and a ripoff most of the time.It also does not have to be automatically included in the sale.

I think your issue with keeping or selling the house for other reasons is little more complex. My instincts say. Why not start new just to have more ability to exercise your freedom of choice. Learn more about the market meanwhile. If you were going to get the house at an obvious discount then maybe that opinion is out the window already. Be careful to avoid effectively buying your siblings out at a higher price than the property is worth or face accepting depreciation all by yourself. I have seen this happen recently and it is unfortunate to say the least.

Try to put a cost comparisions picture together. Taxes, commission or avoidance of them etc. We don’t know how dealings with your siblings would proceed, so IMO,can’t really advise. You didn’t mention any emotional attachment to that particular house either so maybe that is a factor? Good luck.

[NotCranky]

Hi DGH,
I have torn many a house apart for remodels and additions. From this experience I would not think termites on the house you are describing could have a very detrimental effect. Neglect, dry rot and cheap/poor construction would be more likely a cause for expensive defects. I am not saying termites can’t do some damage and I guess what is serious in one person’s eyes is minor in an other’s. Most termite issues are discovered in remodels and repairs and get fixed as they are exposed and the life of the house goes on. Until then, they get treatment occasionally and superficial repairs. Termite work to get a house through escrow is superficial and a ripoff most of the time.It also does not have to be automatically included in the sale.

I think your issue with keeping or selling the house for other reasons is little more complex. My instincts say. Why not start new just to have more ability to exercise your freedom of choice. Learn more about the market meanwhile. If you were going to get the house at an obvious discount then maybe that opinion is out the window already. Be careful to avoid effectively buying your siblings out at a higher price than the property is worth or face accepting depreciation all by yourself. I have seen this happen recently and it is unfortunate to say the least.

Try to put a cost comparisions picture together. Taxes, commission or avoidance of them etc. We don’t know how dealings with your siblings would proceed, so IMO,can’t really advise. You didn’t mention any emotional attachment to that particular house either so maybe that is a factor? Good luck.

[NotCranky]

Hi DGH,
I have torn many a house apart for remodels and additions. From this experience I would not think termites on the house you are describing could have a very detrimental effect. Neglect, dry rot and cheap/poor construction would be more likely a cause for expensive defects. I am not saying termites can’t do some damage and I guess what is serious in one person’s eyes is minor in an other’s. Most termite issues are discovered in remodels and repairs and get fixed as they are exposed and the life of the house goes on. Until then, they get treatment occasionally and superficial repairs. Termite work to get a house through escrow is superficial and a ripoff most of the time.It also does not have to be automatically included in the sale.

I think your issue with keeping or selling the house for other reasons is little more complex. My instincts say. Why not start new just to have more ability to exercise your freedom of choice. Learn more about the market meanwhile. If you were going to get the house at an obvious discount then maybe that opinion is out the window already. Be careful to avoid effectively buying your siblings out at a higher price than the property is worth or face accepting depreciation all by yourself. I have seen this happen recently and it is unfortunate to say the least.

Try to put a cost comparisions picture together. Taxes, commission or avoidance of them etc. We don’t know how dealings with your siblings would proceed, so IMO,can’t really advise. You didn’t mention any emotional attachment to that particular house either so maybe that is a factor? Good luck.

[NotCranky]

Hi DGH,
I have torn many a house apart for remodels and additions. From this experience I would not think termites on the house you are describing could have a very detrimental effect. Neglect, dry rot and cheap/poor construction would be more likely a cause for expensive defects. I am not saying termites can’t do some damage and I guess what is serious in one person’s eyes is minor in an other’s. Most termite issues are discovered in remodels and repairs and get fixed as they are exposed and the life of the house goes on. Until then, they get treatment occasionally and superficial repairs. Termite work to get a house through escrow is superficial and a ripoff most of the time.It also does not have to be automatically included in the sale.

I think your issue with keeping or selling the house for other reasons is little more complex. My instincts say. Why not start new just to have more ability to exercise your freedom of choice. Learn more about the market meanwhile. If you were going to get the house at an obvious discount then maybe that opinion is out the window already. Be careful to avoid effectively buying your siblings out at a higher price than the property is worth or face accepting depreciation all by yourself. I have seen this happen recently and it is unfortunate to say the least.

Try to put a cost comparisions picture together. Taxes, commission or avoidance of them etc. We don’t know how dealings with your siblings would proceed, so IMO,can’t really advise. You didn’t mention any emotional attachment to that particular house either so maybe that is a factor? Good luck.

[patientlywaiting]

Rustico,

My parents house is 20 years old. They bought it brand new and never had termite work of any kind. Do you think that an inspection/tenting is needed every so often? He just asked me about it the other day.
There’s some sandy thing (termite droppings?) on the concret patio at the base of the slab.

Thanks.

[patientlywaiting]

Rustico,

My parents house is 20 years old. They bought it brand new and never had termite work of any kind. Do you think that an inspection/tenting is needed every so often? He just asked me about it the other day.
There’s some sandy thing (termite droppings?) on the concret patio at the base of the slab.

Thanks.

[patientlywaiting]

Rustico,

My parents house is 20 years old. They bought it brand new and never had termite work of any kind. Do you think that an inspection/tenting is needed every so often? He just asked me about it the other day.
There’s some sandy thing (termite droppings?) on the concret patio at the base of the slab.

Thanks.

[patientlywaiting]

Rustico,

My parents house is 20 years old. They bought it brand new and never had termite work of any kind. Do you think that an inspection/tenting is needed every so often? He just asked me about it the other day.
There’s some sandy thing (termite droppings?) on the concret patio at the base of the slab.

Thanks.

[Author]

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