Intercst, still renting

[goinfishin]

Intercst, just curious if you are still renting or have decided to buy.

Nobody has beaten the rent vs. buy to death over here, so I figured I better start it

I'm still an avid renter. Only cutting my current rent from $1,420 / month to $625 in August, now that's a return I like.

 

[TheFIREman]

Surely this depends on

a) your personal like/dislikes (i.e. house vs apartment, big vs small)

b) your family size

c) your area's housing/rental market

I have 3 kids, I like my personal space , I purchased when rents where high and prices where low. Unfortunately, renting or buying, transaction costs are higher than index funds and "rebalancing" becomes difficult on a year-by-year basis.

 

[intercst]

Yes. I'm still renting with a lease at less than $600/month

intercst

 

[goinfishin]

Come on Fireman,

It usually takes us much more name calling and spreadsheets before we get the "it's a lifestyle" decision.

 

[TheFIREman]

To be fair, if it wasn't for the kids, I would be renting as well. If rents rise, I could always move to where they were cheap.

Then again, you could turn this on its head and say, "Is buying rental property a good long term investment, and if so, why are you renting ?"

Food for argu .. I mean, discussion.

 

[goinfishin]

Opportunity cost of capital, what else could you do with your money. Of course having looked at my portfolio the last couple years, maybe buying wouldn't be such a bad opportunity

At any rate I couldn't buy the place I am going to be renting for $600 a month in the neighborhood I am moving to. To buy something as cheap would require me to settle for a substandard neighborhood. So yes the landlord is likely making money off of me but in the end my lifestyle dictates where I want to live and the cheapness allows me to save a ton of money that I would not otherwise be able to do if I had to buy in the same area.

Plus, I like the idea of being able to pack up on a whim and move.

 

[TheFIREman]

Plus, I like the idea of being able to pack up on a whim and move.

Now that's the bit I like the best! Kids, you're living with grandma for the next 20 years

 

[goinfishin]

Being 27 and sinngle that didn't really cross my mind. I am sure the kids won't mind, don't grandmas always spoil grandkids, grandma might not likt the idea though

 

[Cody-Girl]

I sold my house a while ago and would rent an inexpensie place now if I was going to stay in one place for awhile. I'd probably just rent a room (if I didn't have dogs) that included utilities and was probably furnished too, as I spend practically zero time at home, don't cook, and entertain at home. This gives me the greatest flexibility for the least cost and would still meet all my needs. I figure all I really need is a bed, a comfortable chair and maybe a desk to write on. Oh yeah, and my own bathroom! Plus by renting a room, I can live in areas that may be nicer than I could afford to live in if I had to pay for full rent alone. If I planned on living somewhere permanently, I'd probably buy a small condo.