Click Banner For More Info See All Sponsors

So Long and Thanks for All the Fish!

This site is now closed permanently to new posts.
We recommend you use the new Townsy Cafe!

Click anywhere but the link to dismiss overlay!

Results 1 to 3 of 3

  • Share this thread on:
  • Follow: No Email   
  • Thread Tools
  1. TopTop #1
    kpage9's Avatar
    kpage9
     

    Advice on buying a house vs. renting

    I rent a perfect little house in the Springs. Rent's a little high, landlord's a little truculent, but otherwise I am very happy here. Landlord won't sell the house out from under me til he can get what he owes on it, which won't be for a few years at least, so I feel relatively safe.

    There's another house that's almost as sweet for sale, for a price I could afford. Monthly expenses and tax benefit would save me a little.

    Any opinions on the relative merits of buying vs renting these days?

    thanks--

    kathy
    | Login or Register (free) to reply publicly or privately   Email

  2. TopTop #2
    RecycleSonomaCounty
    Guest

    Re: Advice on buying a house vs. renting

    There are a lot of variables in this question: Having a lot of experience in this- I am not saying I am a expert by any means,but have been on both sides of the fence and been a homeowner/landowner and landlord for the last 20 plus years...Owning a home comes with a lot of headaches... but it also gives a sense of security not found in renting.
    If it was not for my handy husband,,, I think it would be extreemly expensive to own. I think renting especially in Sonoma County is much cheaper than owning, even in todays market.
    If you think you just want to do it becuase it seems like a good deal...Really look into the hidden costs and factor those in before you leap.
    Currently one of my friends is looking into purchasing a second home. To borrow 250k with excellent credit.. her payments would be around 1700 a month with interest/insurance/taxes figured in. Thats not taking in consideration a big down payment or any repairs upgrades or remodels that may need to be done prior to moving in or moving costs.
    Well for 1700,, one can rent a pretty nice home in this area... and not have any of the hassles/costs of repairs etc.
    So thats my 2 cents. Not sure.. Merrits,,, My friend will pay a lot less taxes.. ok,,so maybe a 5-600 per month savings there..but my guess is that will be eaten up with other expenses that they did not have prior to owning. Take care, Ann

    Any opinions on the relative merits of buying vs renting these days?

    thanks--

    kathy[/quote]
    | Login or Register (free) to reply publicly or privately   Email

  3. TopTop #3
    2Bwacco
    Guest

    Re: Advice on buying a house vs. renting

    in the late 1970s the real estate market (imho) was very similar to today's.

    differences: mortgage interest rates were probably higher back then! Real estate prices were much lower.

    For example: in the late 1970s, a couple purchased (for all-cash) 21+ acres for $125,000 (property had two homes, a barn, outbuildings).

    There are lots of ways to own real property other than going to a bank and getting a loan.

    So....if you would like to find yourself (in 34 years) with a similar nest egg: your real estate investment -- the only way to do that is to find a property and purchase the land.

    Get going; start looking; be creative
    | Login or Register (free) to reply publicly or privately   Email

Similar Threads

  1. Free One Month Trial of Renting Movies at FamilyPass.com
    By Sara156 in forum General Community
    Replies: 0
    Last Post: 12-06-2005, 08:24 AM
  2. need advice for buying hi end videocamera
    By jtaylor474 in forum General Community
    Replies: 1
    Last Post: 08-08-2005, 05:16 PM

Bookmarks