RE: Cheaper to rent or to own a house?

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RE: Cheaper to rent or to own a house? - 5/17/2009 1:51:03 PM

popeye1250

Posts: 18104
Joined: 1/27/2006
From: New Hampshire
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quote:

ORIGINAL: Fadingthought

Lot of extra costs associated with owning a house that people don't factor in. Insurance is higher, property tax, utilities, interest, etc. I just moved from Washington state, property tax there was 4000 a year, I could rent a very nice condo for 9000 a year. Plus you restrict your ability to move if you need to, to perhaps cut costs. Maybe you have a new job and you have to sell your home, renting it is far easier.
Plus you could take all that money and invest in the market, and the bargains that are out there right now, that is an excellent idea.

Not as much of a "bargain" as they're going to be.

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(in reply to Fadingthought)

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RE: Cheaper to rent or to own a house? - 5/19/2009 9:31:45 AM

ienigma777

Posts: 283
Joined: 2/20/2009
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Hello, tossing 800 down the drain...yes, that is exactly what you are doing. I know, because I did the same. I looked around, found a place, 1000 per month, tons more space, and it's mine now...aell at least the mortage is. So, it boils down to ...if you like renting...fine...if you like buying...fine...buying has it's disadvantages...but nothing like renting...if you are in an area where your property taxes are 4000 per year (which you get to claim as a deduct on your income taxes) and you can rent a condo for 9000 per year and deduct nothing...fine...go for it.

I lived in an apartment for way too many years...I wanted to set up an in-home business.....No can do...the landlord would not allow it....however, if he did, then he required a percent of what I earned from that in-home business...every three months I had to give him a profit & Loss statement.

Owning...gives you the leeway to set up an in-home business, take your decuctions, half the house could be deducted as business expense, and the usual, telephone etc.

So, you choose what you want...no one can dictate to you...except the governments of course.

(in reply to camille65)

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