New Kid on the Block - Page 2 - HomeModders.com

James · 08-21-2007, 05:34 PM

Quote:

Originally Posted by Konstruction

I was always told, if you can afford rent, you can afford a mortage payment.

Good luck on buying a house instead of going back to renting.

From my experience that isn't always the case. With renting comes;

~ Rent/Insurance, (usually one or so utility bill, when I rented I only paid electric at both my apartments).
~ TV/internet.

With my house came;

*takes in a deep breath*

~ Mortgage/Escrow/insurance
~ Electric
~ Gas
~ Water/Sewage
~ Garbage
~ TV/Internet

There's just more utility bills. I lucked out and got a house with a mortgage payment that was actually the same price my second apartment.

With matt and I at the apt, we split 447 a month between the two of us. My mortgage payment is 447.09 a month, and I throw the extra 2.91 into the principle because Brian and I split the mortgage (roughly) in half between us.

Konstruction · 08-21-2007, 05:44 PM

well are renters arent as lucky as your were to just pay for the electric and rent. The last house we rented was 1100 a month , plus renters insurance, electric, water/waste, gas, tv/internet/phone, trash, plus maintance to the house . So for us buying a house it meant something. Just not wasted money anymore. Since we have bought a house, compared to what the monthly expensives were before and after purchasing. We pay 40.00 bux more a month.

briansol · 08-21-2007, 05:46 PM

renting IS a little cheaper... but at the end of the day, you've paid all that money, and own nothing.

James · 08-21-2007, 05:49 PM

Quote:

Originally Posted by briansol

renting IS a little cheaper... but at the end of the day, you've paid all that money, and own nothing.

It's true.

I wasted 4355 after 13 months of renting at my first apartment, and 2688 after 12 months at my second apartment. 7043 dollars I will never see again.

Konstruction · 08-21-2007, 06:06 PM

try 5 years at 1100 !! But to be real about it. its not money wasted. Its surviving I guess.

briansol · 08-21-2007, 07:47 PM

its totally wasted.

i could have rented something instead of buying my condo.

Now, for sale 2 years later, i owe 138 on it, and i sold it for 152.
after my realtor fees and shit, i'm pretty much breaking even... probably pocketing 1-2k

and, i got the tax write off (which helped my drop 2 tax brackets) for the mortgage interest.

so, basically, i've lived here for free for 2 years.

Konstruction · 08-21-2007, 08:48 PM

Well we could argue on how some see it surviving or just wasting money. If you think about it, you have to start some where. I don’t think everyone (not talking about you or anyone here, just in general) was born a trust fund baby. I think everyone in one point in time or another has survived until they bought their first house. And most middle to lower class families rent, for several years until the money is in the bank to purchase, and credit is on point. So without renting there probably wouldn’t be any buying. Even though renting isn’t the greatest goal to have in life. It’s a necessity!!

James · 08-21-2007, 09:00 PM

I didn't mind renting. My first apartment was an 8 apt. complex. My neighbors barely ever annoyed me. Then I moved into a 9 building complex with 14ish apartments in each building. That was the epitome of my needing my own house. I hated that place.

Konstruction · 08-21-2007, 09:11 PM

I will agree apartments are horrible. I have only lived in one 8 apt building , I was evicted for numerous noise violations. The people around me were complete &$*#$#. you know what I mean . So it was houses from then on out. I will say renting houses was much more expensive then apartments.

The 2 bedroom deluxe I was renting was 725 a month w/ electric, water, gas, and trash included.

So I am sure if I stayed there I could have saved the money a lil bit faster.

08-21-2007, 09:00 PM	#18
James Slacking off in the house Join Date: Aug 2007 Location: In IN Posts: 233 Rep Power: 5	I didn't mind renting. My first apartment was an 8 apt. complex. My neighbors barely ever annoyed me. Then I moved into a 9 building complex with 14ish apartments in each building. That was the epitome of my needing my own house. I hated that place. __________________ 1927 2200 sq feet 3 story renovation project. Done Washing Machine - 10.27.07 Windows Install - 02.13.08 (New) Gas Oven - 11.22.08 New Front Door - 02.26.11 New Garage Door - 05.13.11 Needs to be Done Uh... Alot more.

08-21-2007, 05:44 PM	#12
Konstruction General Contractor Join Date: Aug 2007 Location: Richmond, VA Age: 29 Posts: 252 Rep Power: 5	well are renters arent as lucky as your were to just pay for the electric and rent. The last house we rented was 1100 a month , plus renters insurance, electric, water/waste, gas, tv/internet/phone, trash, plus maintance to the house . So for us buying a house it meant something. Just not wasted money anymore. Since we have bought a house, compared to what the monthly expensives were before and after purchasing. We pay 40.00 bux more a month.

08-21-2007, 05:46 PM	#13
briansol Administrator Join Date: Aug 2007 Location: Central CT Age: 32 Posts: 499 Rep Power: 10	renting IS a little cheaper... but at the end of the day, you've paid all that money, and own nothing.

08-21-2007, 06:06 PM	#15
Konstruction General Contractor Join Date: Aug 2007 Location: Richmond, VA Age: 29 Posts: 252 Rep Power: 5	try 5 years at 1100 !! But to be real about it. its not money wasted. Its surviving I guess.

08-21-2007, 07:47 PM	#16
briansol Administrator Join Date: Aug 2007 Location: Central CT Age: 32 Posts: 499 Rep Power: 10	its totally wasted. i could have rented something instead of buying my condo. Now, for sale 2 years later, i owe 138 on it, and i sold it for 152. after my realtor fees and shit, i'm pretty much breaking even... probably pocketing 1-2k and, i got the tax write off (which helped my drop 2 tax brackets) for the mortgage interest. so, basically, i've lived here for free for 2 years.

08-21-2007, 08:48 PM	#17
Konstruction General Contractor Join Date: Aug 2007 Location: Richmond, VA Age: 29 Posts: 252 Rep Power: 5	Well we could argue on how some see it surviving or just wasting money. If you think about it, you have to start some where. I don’t think everyone (not talking about you or anyone here, just in general) was born a trust fund baby. I think everyone in one point in time or another has survived until they bought their first house. And most middle to lower class families rent, for several years until the money is in the bank to purchase, and credit is on point. So without renting there probably wouldn’t be any buying. Even though renting isn’t the greatest goal to have in life. It’s a necessity!!

08-21-2007, 09:11 PM	#19
Konstruction General Contractor Join Date: Aug 2007 Location: Richmond, VA Age: 29 Posts: 252 Rep Power: 5	I will agree apartments are horrible. I have only lived in one 8 apt building , I was evicted for numerous noise violations. The people around me were complete &$*#$#. you know what I mean . So it was houses from then on out. I will say renting houses was much more expensive then apartments. The 2 bedroom deluxe I was renting was 725 a month w/ electric, water, gas, and trash included. So I am sure if I stayed there I could have saved the money a lil bit faster.