Posted on 07/08/2023 8:36:09 AM PDT by millenial4freedom
“The nice thing about renting is that you don’t pay property tax.”
100% of the property tax of any property that one rents is built into the rent ... along with depreciation, maintenance, general overhead, owner’s mortgage payments, AND profit to the corporation or owner of the property ... period ...
It’s in your rent somehow.
“If you own a home free and clear and have no mortgage payment, does it really make sense to cash out, invest the proceeds ,but then have monthly rent? Rents will only continue to increase year by year into the future.”
AND while your rent continues to increase, you’re also missing out on the appreciation of the property you just sold ...
“But owning is ridiculously high too. 24K for new roof every 20 years. New air conditioning 8500 every12 years. New appliances 5000 every 2” years if you’re lucky. Property taxes and home owners 6 grand a year. Painting the house every 15 years 4 grand. And then utilities.”
renters pay for every penny of that too as those costs HAVE to be built into the rent ... otherwise, the property owner would go bankrupt if rent didn’t cover those expenses ...
We’re keeping that dang Odyssey until disintegrates as well.
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I know what you mean. I was hanging on to my Toyota till it got too expensive to keep repairing it. My 2022 car will be with me til I can’t drive any more. And it’s NOT an EV.
Sure you do. It is built into the rent.
You are also indirectly paying for other things for your landlord including his car payment, his groceries, the college tuition for his children, etc.
Your examples just goes to show, everyone needs to review their own personal financial situation, as to what makes sense for them. And what makes dollars and cents, sense in their situation.
I just can’t imagine ever wanting to be a renter. It’s like living at home with your parents and you have to abide by their rules. Same with a landlord. And living in an apartment has to be the most awful renting experience of them all. There is also the bias against renters in a single family home neighborhood. People aren’t as interested in getting to know renters because they have no roots or stake in the neighborhood. The idea of waking up every morning in someone else’s house or apartment has zero appeal for me.
“you have to abide by their rules”
That is the elephant in the room.
Freedom from the landlord’s rules is priceless.
Well, you do, it’s just included in the rent.
I knew there were plenty of people who post before reading all the comments (I’ve done it too), but this thread appears to be setting a record.
Well yeah. Do you know anyone in their 20s who own their homes?
“I knew there were plenty of people who post before reading all the comments (I’ve done it too), but this thread appears to be setting a record”
That is funny...but no, it wasn’t a test. Early in my posting career, I posted something that would get responses like “let’s nuke Russia”, and then said something like “...as the Neocons see it” in the NEXT post. I never did that again.
I’m one of the boomers who owns my home. No mortgage. I like to think of it as an investment, as it has already increased in value a lot since I bought it. By the time I have to leave here (for whatever reason) it should hopefully have increased in value quite a bit. I consider that more of an inheritance for my children than anything else I have to leave them.
It’s okay, Dad.
Correct. You also avoid the cost of house insurance and any maintenance costs. It's really the way to go, to cut costs.
It also works when leasing a car.
They can either sell the property and divide up the equity, or someone (who couldn't otherwise afford to buy) may want to take the property as their residence.
-PJ
You pay it in the rent.
“This boomer owns his house outright.”
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That makes two of us.
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