Owning vs Renting?

[yelnad]

The fees all depend on where you live and the market in your area. My husband is a REALTOR. Around here the fees are about 5-6% of the price. 3% goes to the listing agent. His broker will take 50-60% of that. 2.7-2.9% goes to the buyer's agent. Her broker will take 50-60% of that.

We find that fee negotiating takes places in the higher end market, but never in the low to middle end, because there just aren't enough houses to meet the demand. Also, my husband can't really negotiate his fees. That has to come from his broker.

That all said, he only sells 3-4 houses a year. He keeps his license more for his own access to the MLS and prefers to make his living in other ways.

 

[johnblake]

On the Rent vs. Buy debate,
my position is -- it depends.

 

[Floridian]

Quote:
"I always wondered what people did with all those batteries... "
Ya gotta to be kidding right??

Re rent vs. own
History:
Rent: 4 apartments. Own: 5 houses (made 20K - 100K with 2, break even with 2, current one about 30% appreciation so far). My take-aways? it's all local markets not a generic housing boom or burst.

Personal preference: own 'cause 1) I clean it more often and 2) it give me a warm and fuzzy feeling.

 

[KB]

I'm with you on the warm and fuzzy feeling. I love having my own little bit of space in this world.

 

[brewer12345]

I'm with you on the warm and fuzzy feeling.  I love having my own little bit of space in this world.  

Yep, just like one of my favorite quotes:

"You ain't no kind of man if you ain't got land."

- Delmar in "O Brother Where Art Thou"

 

[John Galt]

Yeah, I've owned land. Quite a lot actually, but not much any more. It felt good, but it seemed to me that
the ROI could be a lot better. I miss it (owning a bunch
of land), but I am reconciled to keeping the money working. Would I rather just sit on it? You bet.
Alas, all of my money has to work so that I don't have to.

John Galt

 

[farmerEd]

I'm with you on the warm and fuzzy feeling.  I love having my own little bit of space in this world.  

Same here...unfortuately I have yet to make a penny on any real estate transactions though...my problem is, the only places I buy are out in the boonies in non-glamourous areas...cause that is where I want to live...no doubt, I'd be better of finacially had a lived closer to a city, but oh well....

I'll trade all those $$$ for the opportunity to meander around my 200+ acres of land (surround by another 5000 or more acres of woods) anyday though...

 

[unclemick]

Heh, heh - I wish I owned the swamp 3 miles up the road - the guy has been making a bundle since before (25 yrs) we moved here leasing duck blinds to hunting clubs and groups. Land is ok - the right swamp is really good. Over the city/parish line - hence first legal shooting spot in the flyway. Of course - the smart ducks stay in the city part of the swamp.

 

[Floridian]

..... the only places I buy are out in the boonies in non-glamourous areas...cause that is where I want to live....

Around here, there seems to be a trend to build around what is coined as 'nature preserves'. Instead gazing out a fenced back yard you get to pretend that you live in the wood. At times the illusion is shattered when instead of woodland creatures you have the neighbors' cats tip toeing through your patch of wilderness.

 

[KB]

Floridian.....in what part of Florida do you live?