Three years renting, yearly update

[poorsaver]

Bubbly, x is a known, it’s $2.0M. In your calcs, you can factor out payments, because I didn’t have any as the house was paid for in cash. Any future house would also be paid in cash. I just don’t like payments of any type. It’s just me, I’m a cash person. And I’m not a woman looking to nest, nor do I feel badly about my investment timing. I never expected to get out at the top. There are several areas that didn’t behave like San Diego and peaked much later: Newport Beach, Coto de Caza, Montecito and even parts of Pasadena to name a few. Many people on this site have observed that the more desirable areas have not declined by that much and will be delayed, not immune, from the decline. I’m just sharing my personal experience and how it pencils out three years later.

[Ren]

[quote=poorsaver]Per zillow, which I know has it’s inconsistencies, it’s currently valued at $2.4M. Checking with my realtor, it does seem to be accurate.[/quote]

Zillow isn’t just inconsistent, it can be wildly inaccurate. Take that out of the equation completely and only look at comps in that area at that time.

[Ren]

[quote=poorsaver]Per zillow, which I know has it’s inconsistencies, it’s currently valued at $2.4M. Checking with my realtor, it does seem to be accurate.[/quote]

Zillow isn’t just inconsistent, it can be wildly inaccurate. Take that out of the equation completely and only look at comps in that area at that time.

[Ren]

[quote=poorsaver]Per zillow, which I know has it’s inconsistencies, it’s currently valued at $2.4M. Checking with my realtor, it does seem to be accurate.[/quote]

Zillow isn’t just inconsistent, it can be wildly inaccurate. Take that out of the equation completely and only look at comps in that area at that time.

[Ren]

[quote=poorsaver]Per zillow, which I know has it’s inconsistencies, it’s currently valued at $2.4M. Checking with my realtor, it does seem to be accurate.[/quote]

Zillow isn’t just inconsistent, it can be wildly inaccurate. Take that out of the equation completely and only look at comps in that area at that time.

[Ren]

[quote=poorsaver]Per zillow, which I know has it’s inconsistencies, it’s currently valued at $2.4M. Checking with my realtor, it does seem to be accurate.[/quote]

Zillow isn’t just inconsistent, it can be wildly inaccurate. Take that out of the equation completely and only look at comps in that area at that time.

[La Jolla Renter]

Of course renting sucks if you sell a house for $2M and rent something worth much less. $2,800 a month gets you a about a 650k valued house. You are not comparing apples to apples.

I am in a decked out property worth about 1.5M and my rent is 3,500 a month. I am renting for about 1/3 of the total carrying costs of owning.

I have no complaints… renting has been very good to me.

[La Jolla Renter]

Of course renting sucks if you sell a house for $2M and rent something worth much less. $2,800 a month gets you a about a 650k valued house. You are not comparing apples to apples.

I am in a decked out property worth about 1.5M and my rent is 3,500 a month. I am renting for about 1/3 of the total carrying costs of owning.

I have no complaints… renting has been very good to me.

[La Jolla Renter]

Of course renting sucks if you sell a house for $2M and rent something worth much less. $2,800 a month gets you a about a 650k valued house. You are not comparing apples to apples.

I am in a decked out property worth about 1.5M and my rent is 3,500 a month. I am renting for about 1/3 of the total carrying costs of owning.

I have no complaints… renting has been very good to me.

[La Jolla Renter]

Of course renting sucks if you sell a house for $2M and rent something worth much less. $2,800 a month gets you a about a 650k valued house. You are not comparing apples to apples.

I am in a decked out property worth about 1.5M and my rent is 3,500 a month. I am renting for about 1/3 of the total carrying costs of owning.

I have no complaints… renting has been very good to me.

[La Jolla Renter]

Of course renting sucks if you sell a house for $2M and rent something worth much less. $2,800 a month gets you a about a 650k valued house. You are not comparing apples to apples.

I am in a decked out property worth about 1.5M and my rent is 3,500 a month. I am renting for about 1/3 of the total carrying costs of owning.

I have no complaints… renting has been very good to me.

[Anonymous]

In your calcs, you can factor out payments, because I didn’t have any as the house was paid for in cash.

Then you have to factor in a conservative 3.5% interest from a CD of 2.0M dollars over that term. That happens to be about $5800 a month in interest, or $208,000 over three years.

I would also say that it’s always going to be difficult coming out ahead when you own the house outright versus renting. Or if you pay for the house in cash versus the cost in renting.

[Anonymous]

In your calcs, you can factor out payments, because I didn’t have any as the house was paid for in cash.

Then you have to factor in a conservative 3.5% interest from a CD of 2.0M dollars over that term. That happens to be about $5800 a month in interest, or $208,000 over three years.

I would also say that it’s always going to be difficult coming out ahead when you own the house outright versus renting. Or if you pay for the house in cash versus the cost in renting.

[Anonymous]

In your calcs, you can factor out payments, because I didn’t have any as the house was paid for in cash.

Then you have to factor in a conservative 3.5% interest from a CD of 2.0M dollars over that term. That happens to be about $5800 a month in interest, or $208,000 over three years.

I would also say that it’s always going to be difficult coming out ahead when you own the house outright versus renting. Or if you pay for the house in cash versus the cost in renting.

[Anonymous]

In your calcs, you can factor out payments, because I didn’t have any as the house was paid for in cash.

Then you have to factor in a conservative 3.5% interest from a CD of 2.0M dollars over that term. That happens to be about $5800 a month in interest, or $208,000 over three years.

I would also say that it’s always going to be difficult coming out ahead when you own the house outright versus renting. Or if you pay for the house in cash versus the cost in renting.

[Author]

Posts