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

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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Yeah and another thing is the job situation.

My uncle works out here in NYC and has a good *** paying union building maintenance job he been at forever.

They all bag on NYC and talk smack, but he doesn't realize that he's make close to $200K a year with all his overtime and whatever else and paying for a cost of living in Florida from the early 90's since he moved his family there in 1994 I think it was :smh:

Dude stayed by my grandma and didn't help with anything just paid for his house in Tampa and whatever other expenses for his family too.

And they're like the family type that likes to brag how well they're doing and when they come visit NYC they talk **** about some of their friends they grew up with in Brooklyn that still live with their parents :smh: real snobby stuck up and then hate on you when you start making moves.

Can't knock him though because he owns like 12-15 cribs including all his kids houses in Florida and rents them out and collects.
 
23
rent
Milwaukee
I plan on moving out of the country so renting works best for me.
 
26

Own

Baltimore

I decided to go the own route so I can rent it out later down the road.
 
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.
Click to expand...

I don't wanna live down there, but others will. For a a rental property it makes sense.
 
Man I graduate college this fall so im already starting to think about moving out (still live at home). The big decision is either to buy or rent. I really dont wanna rent and my parents are telling me to just buy, but money is huge factor. I make a little under 30k at my current job, and i m banking on finding a better one once I graduate. But now that I dont have to pay for school anymore (which has been all out of pocket), Im gonna have alot more time to work and extra money each month, even if I stay at my current job

Obviously Id have a room mate. But I cant do an apartment. I need a garage. Im a welder/gearhead/handyman/tinkerer kind of guy. So I need a place to work on stuff and store my tools. Im thinking about maybe buying a townhouse. Small enough for one or two people, but bigger and nicer than apt, plus some have garages. Around my way, theyre about 100k, some more, some less

What do you guys think?? Im 24 and live in az if it matters
 
^ don't make purchases banking on the fact that in the future you'll make more money. You'll find out the difference between "needs" and wants.

31
Own
NoVA
 
yung16 said:
Hopefully she will be using me to buy. :smile: LOL


Age 29
Own 3 homes. (2 rentals, one primary)
2 in Hampton, VA and the Primary is in VA Beach.


I cannot speak for others but home ownership was the best decision I have ever made. I am also a RE Agent so by nature I am pro-own but I can understand why some rent. Do a little research and you guys can see it is more beneficial for you to own. Especially cities and countys giving grants to those that qualify. Just sold a home to a couple and USDA gave them 5000 for thier down payment and closing costs. They moved into their new(bulit in jan.) home yesterday. Also for some that think its not an investment I have a young lady whom i convinced to buy a chinese drywall build back and she got it for 200K (140k for loan 60k for build back) her home is worth 325k right now. She has over 100k in equity. It can be done guys. If youre in the DMV I can help if you need it. :smile:
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I got you still around :smile: and things go well in DEC
 
Not to get too far off topic....

Real spit, from 09-10 my family (me, wife, daughter) lived in my mother in laws basement to save money. Wife was studying for the bar, I was making 35k @ my job, daughter was in daycare ($900 a month). We were broke, to say the least. I'm lucky and fortunate her mother allowed us to stay with her. Gave us a chance to get things together without the burden of paying for **** we couldn't afford.

Once my wife got her job, we moved to a townhouse that was significantly below what we could afford. Gave us a chance to save money for a down payment.

Now, we're living in a pretty decent townhouse in a pretty good neighborhood (whatever that means) in a pretty good school district.

I say that to say, don't worry about the other people are doing. Don't feel pressured into buy a place because it makes sense on paper.
 
Last edited:
24
PG, Maryland (near DC)
Rent

Would like to own in 3-4 years. Don't know if I wanna stay in DC tho. Townhouses in PG are going for around 200k, but it'd be nice to take my money down south and get a real house.

Anywho, I'm cool with my situation now, rent is high, but being able to live by yourself is worth it.
 
LosALMIGHTY said:
31
currently renting
should be owning in 60 days
Queens to Queens (NYC)
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What part of Queens you buying a crib at?

I was looking at Queens Village, but damn house prices shot up there and most are around the $500K mark :smh:

richiecotite said:
Not to get too far off topic....

Real spit, from 09-10 my family (me, wife, daughter) lived in my mother in laws basement to save money. Wife was studying for the bar, I was making 35k @ my job, daughter was in daycare ($900 a month). We were broke, to say the least. I'm lucky and fortunate her mother allowed us to stay with her. Gave us a chance to get things together without the burden of paying for **** we couldn't afford.

Once my wife got her job, we moved to a townhouse that was significantly below what we could afford. Gave us a chance to save money for a down payment.

Now, we're living in a pretty decent townhouse in a pretty good neighborhood (whatever that means) in a pretty good school district.

I say that to say, don't worry about the other people are doing. Don't feel pressured into buy a place because it makes sense on paper.
Click to expand...


Good **** man and you had a down *** chick that rode with that mindset.

Most chicks would be on some I'm not going to live in no basement or you can't take me from my mothers nice house to live in some **** hole.

That's what you have to do though man just sacrifice and then struggle for a bit and then make moves.

You're also right about not worrying with others... see so many people fall prey to trying to out do a friend or family member or "keep up" with them and they put themselves into something they can't handle.
 
I feel like we should have all put down our occupations as well. I sort of want to know what jobs people are doing to buy houses.

Its crazy in SF. With the little tech bubble we have, there are so many young kids buying super expensive condos out here. My friend lives in a new complex and a year and a half ago, he bought a 1 bedroom for a little under 700K. I think as of late, it's close to 800k now. What is more odd is everyone in the building is super young. No one is relativity older than 35 years old. I even heard when my friend owned that you need a huge down. Crazy enough, he had half down cause of a life insurance policy but even with his high paying job, he would have never gotten that place if he didn't have the down. So I am just wondering how others bought places in there knowing it should be the same situation. I bet some of those kids are from Facebook and straight paid it off. Lucky bums.
 
Speaking of San Francisco...read this earlier today:

SAN FRANCISCO — San Francisco Association of Realtors President Betty Taisch has two words of advice for those who want to live here and think $1 million will buy them their dream house: Think again.

In the souped-up world of San Francisco real estate, where the median selling price for houses and condominiums last month hit seven figures for the first time, the cool million that would fetch a mansion on a few acres elsewhere will now barely cover the cost of an 800-square foot starter home that needs work and may or may not include private parking.
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Link

Cliffs:

1 mil in SF will get you a 800 square foot fixer-upper.
 
There are condos that are cheaper, newer and bigger than that though. The HOA is what kills you though. My friends HOA is $900 a month! That is insane but they do have a full gym, pool, steam room, and storage that they don't use.
 
Mr Fongstarr said:
I feel like we should have all put down our occupations as well. I sort of want to know what jobs people are doing to buy houses.

Its crazy in SF. With the little tech bubble we have, there are so many young kids buying super expensive condos out here. My friend lives in a new complex and a year and a half ago, he bought a 1 bedroom for a little under 700K. I think as of late, it's close to 800k now. What is more odd is everyone in the building is super young. No one is relativity older than 35 years old. I even heard when my friend owned that you need a huge down. Crazy enough, he had half down cause of a life insurance policy but even with his high paying job, he would have never gotten that place if he didn't have the down. So I am just wondering how others bought places in there knowing it should be the same situation. I bet some of those kids are from Facebook and straight paid it off. Lucky bums.
Click to expand...


That probably aint a bad idea. To start Im in non profit operations; wife is an employment attorney for a medium sized law firm. We both work in DC proper.

I've lived in DC and Philly, had friends live in NY, and SF, and I can say with no hesitation, SF prices are the worst. If your single and make 100k in NY or DC (which are probably more comparable), assuming no crazy student loan debt, you can pretty easily afford a nice place in the $2500 per month range. SF, I'm guessing, that would get you a nice 1 bedroom in an older building in a gentrfying neighborhood.

Philly and Chicago (I think) are somewhat pretty comparable. You can get a decent place in an up and coming (read: formerly hood) neighborhood for around $1k.

We were in Philly in 09, and were renting this huge, 1500 sq ft loft apt in a converted tie factory in N Philly, not too far from Temple, in Kensington I believe. Rent was like $1050. Even looking @ spots down in S Philly near the liberty bell, 2 bed 1 bath rowhouse was $1800. Jawn had a little backyard too. In DC we were paying $1600 for a 2 bed, 2 bath apt in NE DC.
 
richiecotite said:
That probably aint a bad idea.
Click to expand...

It'd be interesting to know anyways. I am in insurance. Get nothing to crazy but about 70K a year. With this income, I live pretty much pay check to pay check with some credit card debt and just living a city lifestyle. I spoke to a college of mine that has about the same job in Kansas City and he just bought a huge house for like less than 200K and still has money to put in the bank.
 
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