NT Do You Own a Home or Rent? (Your age? Location?)

21
rent
TX
and my rent is waaaay too damn high.
more than my parents mortgage :x :x

I AM LOSING.
 
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The one point to add would be % of take home income (after taxes and 401k) that goes to rent or mortgage. 

I just did the math and I'm at ~17%, which is next to nothing. I believe the rule of thumb is 30%. I personally would not feel comfortable paying 30%, because I wouldn't be able to save enough. What % would make you house poor? 
 
JJ Watt said:
The problem is moving down south is that no one wants to live down there.

The cheap houses are cheap for a reason.
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:stoneface:

25
Rent
Dallas

I live downtown and they're doing a TON of renovations and repairs.

I'm scared for my rent because it's great now....

Plus I live on the corner of the high rise... And the walls are THICK.


No interest in buying a home for a few years. Would cop a condo though
 
Chopper said:
The one point to add would be % of take home income (after taxes and 401k) that goes to rent or mortgage. 

I just did the math and I'm at ~17%, which is next to nothing. I believe the rule of thumb is 30%. I personally would not feel comfortable paying 30%, because I wouldn't be able to save enough. What % would make you house poor? 
Click to expand...

That probably depends more on where you live.
 
Chopper said:
The one point to add would be % of take home income (after taxes and 401k) that goes to rent or mortgage. 

I just did the math and I'm at ~17%, which is next to nothing. I believe the rule of thumb is 30%. I personally would not feel comfortable paying 30%, because I wouldn't be able to save enough. What % would make you house poor? 
Click to expand...

I'm around 33%. It's impossible to save.

Thankfully I just need to get through residency
 
PoLo Sport NYC said:
JJs07 said:
When you're buying a property, do A LOT of research first.

1. Check the neighborhood comps.

2. Look at the statistics as far as crime.

3. If you REALLY want to see a return on your investment, look at the neighborhood schools. If they are good-to-great, that's a HUGE bonus.
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not really in nyc...

look for the hood that'll be popping in 10-15 years and wait them out...

example : bedstuy

as far as schools in nyc, theres trains and buses so it dont matter where you live, you can MTA it to the good school...
Click to expand...

Well, obviously if you're being part of a gentrification movement. However, if you're looking to buy in a neighborhood that already has good/great schools, then you're golden.
 
Fontaine said:
indifferent.gif


25
Rent
Dallas

I live downtown and they're doing a TON of renovations and repairs.

I'm scared for my rent because it's great now....

Plus I live on the corner of the high rise... And the walls are THICK.


No interest in buying a home for a few years. Would cop a condo though
Click to expand...
me too bro you know we are from the same city 

so I want to save up for a condo in the next coming years 

Im thinking about some wear in far north dallas though

so some for 71,000 was looking just to keep me motivated
 
Paycheck26 said:
What do you guys think about buying a condo? Ideally that just owning an apartment, right?
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I mean it can kind of seem that way but not really. You have to pay HOA dues on top of your taxes and home insurance. It allows you to make money when you sell it down the road.

Even when you own a home you still have to pay your real estate taxes year after year to keep your home.
 
Fontaine said:
:wow:

That's right in the SMU neighborhood.

Wonder why it's been on sale for 2 months.

My lease is up at the end of the year so I might start looking...

Throwing 1200 down the drain isn't smart financially
Click to expand...

I just looked it up..it looks more like an apartment and the outside of them isn't all that appealing. About 7 minutes away from SMU.

The Turtle Creek condos are nice, more expensive though and the HOA fees are high. :lol:
 
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cguy610 said:
I mean it can kind of seem that way but not really. You have to pay HOA dues on top of your taxes and home insurance. It allows you to make money when you sell it down the road.

Even when you own a home you still have to pay your real estate taxes year after year to keep your home.
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ohhhh ok. Im considering the whole condo thing. I live in nyc. I'm not really sure if i want to live here when i start a family and all that jazz so a condo is probably a safer bet, right? at least I'd see some money off of it when/if i go...as opposed to renting that is.
 
Paycheck26 said:
cguy610 said:
I mean it can kind of seem that way but not really. You have to pay HOA dues on top of your taxes and home insurance. It allows you to make money when you sell it down the road.


Even when you own a home you still have to pay your real estate taxes year after year to keep your home.
Click to expand...
ohhhh ok. Im considering the whole condo thing. I live in nyc. I'm not really sure if i want to live here when i start a family and all that jazz so a condo is probably a safer bet, right? at least I'd see some money off of it when/if i go...as opposed to renting that is.
Click to expand...

Yea, if you are going to be there more than 5yrs its usually better to buy. Under 5yrs, better to rent.
 
26

Atlanta, Rent.


I just moved here in July, planning to buy next year just gotta figure out which area.

I want something in a older area, that's not too far from work (hapeville) but is also convenient to downtown. From what I can tell a few of the neighborhoods I've seen are slowly being gentrified 150-200k homes right around the corner from the hood, I've even seen some nice older bungalows going for 150-160 on the same street as vacant/abandoned homes.

Depending on how far you wanna live out I've seen a lot of great foreclosures.
 
33, own a detached crib in toronto with the wife. I always wanted to make a thread on here to find out how many cats are homeowners but still spend a good amount of money on clothes and sneakers.
 
24

Rent (4BR, $450 a month)

Boston

Would people be down to say how much they pay for rent/own for?  Trying to move to LA and it would help to get an idea
 
I'm 35 and have owned my home for 6 years.

Live in Charlotte, NC, paid $171K for a 2060 sq. ft. four bedroom house. Currently paying $1235 on a 15 year mortgage (refi'd a couple years ago).
 
24
Houston
Rent

No intentions to own anytime soon.

  • Trying to clear most of my student loans before acquiring anymore debt.
  • Can't be certain I'll even stay in Houston that long. Only been here half a year for work and would like less headaches if career moves have me dramatically changing commute or even relocating
  • Along the lines of the 2nd point, I want to move back to MD at some point and would rather buy a house there if I'm getting one.
 
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