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Old 04-27-2010, 11:28 PM
TommyDeVito's Avatar
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Originally Posted by sahtt,Apr 27 2010, 06:13 AM
A lot of financial experts around here all of a sudden. Depending on the area, renting can be much more cost effective than buying. The 'everyone who has any money needs a house or they are pissing money away renting' philosophy is a fallacy. In many areas you have to go deep in debt and pay out five figures a year in property taxes to own a house in the same area/same size as you can rent for 1200 a month with no risk of the A/C failing and costing you 20 grand or having to pay 150 a month indefinitely to keep your lawn mowed. Pretty sad people are so judgmental about other people's financial decisions. If I was bearish on the housing market and liked having the few worries/responsibilities associated with an apartment and wanted a GTR, that doesn't mean I'm automatically an idiot.

Same with people claiming those who lease are always clueless. You can lease a new civic with nothing down for under 200$ a month.
Couldn't agree with you more. I'm a single homeowner and my house isn't broken but is going to need investment in the AC/Heat, Pool replastering, roof, all normal maintenance items. When their time comes, their time comes, and you have to pay the fiddler. The house is 30 years old now so it's just natural that these things need to be replaced over time. I would have to really work hard at relearning excel and come up with some formulated spreadsheets to see if owning it is even worth it as I'm starting to contemplate going back to renting, freeing up more income to invest and have fun with. I was definitely happier renting a small to medium apartment with attached or detached garage(s). When I was doing that I had more $ to play in the market and always had at least one bike in the garage and a mod allowance. With a wife paying a decent portion of the bills it'd be a no brainer but a single guy footing the bill solo takes its toll.

I definitely think I could beat the gains on the house renting. When you factor in maintenance, increased utilities over an apt., taxes, insurance, etc, etc, well, I just don't think it's the great investment people hype it up to be. No longer do I frown upon people having nice cars and renting. A garage (attached or detached) would be a requirement for me though.
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