Renting vs Owning a Home

[The Black Wolf]

So this is my very first apartment, the very first apartment I am renting. I pay $350 per month and I don't do any work but keep the house clean. My landlord gets someone else to cut the grass, do outside work, and spray for bugs and etc. I am furnished with a washer, dryer, and most furniture. I am very happy with this.

However, before I moved here, I lived with my parents who own their house and land. Like all home owners, YOU have to buy ALL the furniture, ALL the appliances, and YOU have to cut the grass. You also have to pay taxes on your land.

That's the bad part about owning. The good part about owning is it's theirs, they can put a Direct Tv disk up because it's theirs. Another thing is once it's paid for, it's paid for. There's no more monthly payments.

That's just an example of my and my parents situation, it's an example to give you an idea of what I was talking about.

So, my question to you is, Would YOU rather own a home or rent a home, apartment, or etc?

By the way, how is renting and owning overseas? What's that like?

[Sylar]

I would definitely rather own my own house but that's not so easy nowadays :/ two of my mates are moving out soon and renting a house together. If my parents weren't working away for 7 months I would've joined them.

[Kuro]

shorttime run renting like if your living by yourself and going to school but in the longtime run i'd want to a house if you want to settle down and have a family
at my age i'd rent then later on own so im leaning towards own for me

[THUGGEDOUT]

Would rather own, when renting some landlords may not be as flexible as others, so there may be rules you have to abide by. For instance, no hanging pictures on the walls, no pets, no decorating, etc. Also if you get a place that is already furnished, you can't change anything.

[[DT]]

Any more, the financial consideration isn’t as cut and dry as it used to be, i.e. the whole idea of “building equity” as an owner.

I imagine because of the average age of the users on this forum, there’s probably a high percentage of renters (and probably quite a few live-at-homers).

[mooninites]

I'm a renter but once i get married i will hopefully own a house

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[Ghost-Rhayne]

Buying your own furniture and mowing the lawns is just normal. Welcome to the real world! It's way better to own than to rent. Why the fuck should you work your ass off only to put that money in someone elses pocket. Me and my fiancee will be buying an apartment here in Vienna. Fuck making someone else richer. Furniture and lawns are the least of my concerns.

[brebaz]

Own. I own an apartment and i'm still single but, since i'm working overseas i can't really enjoy it that much. Renting, is not really for me.

[[DT]]

I imagine because of the average age of the users on this forum, there’s probably a high percentage of renters (and probably quite a few live-at-homers).

Well, according the poll, I’m totally wrong so far

[Nitey]

Yeah if I'm working my ass off and in a good job there's no way I'd be renting a place. Put your money towards something you can own in the long run. Though, getting a mortgage and all the rest is a difficult process nowadays as everyone knows so there's obviously a lot of people that rent their property, when they'd rather not

[podsaurus]

I'll want to own a home eventually. But I can tell you even renting apartments around here I'd have to make waaaay more money than I make now. There is absolutely not way I could afford an apartment. I live at my moms but I do pay for a car and all my college books myself.

[Completely Average]

I rented for 10 years before I bought a home. It feels like 10 years of throwing away money. I spent $72,000 renting over the course of 10 years. That's $72,000 that could have gone to a house that I own.

I've owned my house for 3 years now. If I had bought from the start my house would have been paid off in just 7 years instead of 17, and I would have spent the past 10 years in a house that is more than twice the size of the one I rented.

[admartian]

Would rather own than rent but it's not easy to set it up these days. We're currently saving for our first home.

Screw the bankers!

[Fon]

Renting a place is in fact a cheap alternative but it comes with rules and restrictions. The rental here in Oregon has gone up a lot over the past decade but with the whole economic issues these days, it's better to own a home then renting an apartment. If you want to rent a house then I strongly advice against that. You can work with your banks to consolidate your annual taxes and monthly payments for owning. Also, make sure that you have a fixed annual rate or they can screw you over with interests.

[mickice]

Depending on the amount of the loan, sometimes rent can be the same as paying off a loan at the bank and you can keep it.

[JackC]

You're still paying taxes in an apartment, and paying someone to mow the lawn - that stuff is just included in your rent. As soon as my wife and I had saved up enough for a down payment on a house, we bought one. You're actually buying something, not just paying for the use of it. And houses are much larger, the land around it is yours, you can listen to music without the neighbors complaining, and it's just yours.

[Morganator]

Would rather own than rent but it's not easy to set it up these days. We're currently saving for our first home.

Screw the bankers!

This is what I'm trying to do now. I would rather save and buy outright than owe 20% interest on something and be at the mercy of white collar criminals who could purposefully screw the economy and I end up being foreclosed on.

Ideally, I want to just buy some land somewhere where there is no property tax, no income tax and no sales tax and build a custom home to my specifications without a worry in the world.