Homeownership v Apartment v Condo

T

Tigran

Contributor
I just sold my house last year and am now a happy renter of an apartment. Having to change jobs and move makes home ownership much less attractive to me and condos look to be the worst of both.

Do you own or rent?
 
Tigran said:
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I rent... mostly because we may be moving in a year or 2. But I've been renting for 6 years (3rd year in college until now, 4 years post-college).
 
i bought a townhouse
with the monthly HOA shit and everything, i should have just grabbed a normal house. it's not bad, but there are some things i'd like to do differently.

I'll be buying wherever i move to again though
 
JustinCase said:
I want to live rent free one day so I own
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My goal is to outright own 10 properties before the age of 50. Probably won't happen till 60 or 70, but I want to keep 50 in mind for early retirement.

The idea is that I've concluded I can live a comfortable life if 10% of my income is spent on paying for rent or a mortgage. With that in mind, if I own 10 properties with no mortgages, I can have 10 people paying rent to me to create that comfortable income level.

You'll never be able to do that if you rent all your life.
 
if you have connections with realtors, buying/selling isn't really all that much of a hassle. i'd only recommend renting if you're truly nomadic and jump around extremely frequently.

owning gets you equity, dollar-for-dollar renting is just not intelligent unless you can't put up financing/down
 
I rent because I move frequently and it would be a pain in the ass to sell a house every 2 or 3 years.
But I would take a condo over a house. May be more expensive, but there are no houses in the middle of Tokyo, I hate commuting, and the condos in my sights offer a very nice cityscape view.


L. Spiro
 
borlaK said:
own
sucks

would not recommend house ownership to anyone unless you have a family (kids)

if you like:
* spending lots of time and money on maintenance
* paying bills
* shitty neighbors you are stuck with
* probably a small backyard that is in reality good for nothing
* homeowner association you have to PAY and the adhere to stupid rules
* unstable market (I live in Oklahoma in a wonderful area and am afraid to try and sell)

blah blah blah
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sounds like you didnt do much homework before buying.

i just bought a house last september and love it. buying is an investment, and im happy with mine.
 
im only upset with my purchase because of hindsight, and future things i couldn't know about with my purchase

i would have, had i known in 4 months time i'd be working from home, bought a house 25 minutes south, big time fixer upper
at the time though traffic scared me off, as did the daunting repairs
but now that i know i can make repairs pretty easily, and other junk...

would have been a no brianer
 
SkivviS said:
buying is an investment.
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You should never look at your home as an "investment", and this idea is one of the biggest fallacies of owning a home.

That being said, I am a big proponent of buying a home if you can afford it. A lot of benefits to home ownership, but investing isn't one of them.
 
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