***TST's Official "Boring" Thread, Part Deux***

[sleeperSL2]

Originally Posted by HickRocket1258

Nope. That's what I'm doing. I'm going right from my parents house to my own. It's rough because the girlfriend has car payments and school payments and makes more money than I do. She's talking about working part time next semester because of when she could only schedule her classes. I couldn't pull off the payments myself.

yeah, me and my GF talk about it occasionally,i figured it out, and by the time im ready for a house, my car will be payed of and ill have my school payments (community college) will mostly be gone. which all is under 5 years. So i'm hoping it all works out in the end haha

OH stupid weather

[jpalamar]

I think owning a house is overrated. I truely believe it is a myth that you save money by owning rather then renting.

[DownforceTom]

Ugh, back to work. Still sick as ****.

[lownslow95]

Yeah, I really can't see myself owning a house. I'd rather have an apartment, and not have to worry about anything. But thats just me. It's sad that I'm 26 and I'm still living at my parents. But thats only because I am unemployed and unemployment isn't coming in...FML.

[piku]

Originally Posted by jpalamar

I think owning a house is overrated. I truely believe it is a myth that you save money by owning rather then renting.

In the short term sure But over any real length Of time and comparing apPles to apples. Owning winds hands down. It also helps to buy the absolute cheapest house you can stand and pay it off As quick as you can.

[piku]

Originally Posted by lownslow95

Yeah, I really can't see myself owning a house. I'd rather have an apartment, and not have to worry about anything. But thats just me. It's sad that I'm 26 and I'm still living at my parents. But thats only because I am unemployed and unemployment isn't coming in...FML.

Yeah I have to constantly do house work Clean the garage mow the lawn shovel a driveway full of snow cut uP chip and split the fallen tree open close and clean the pool and hot tub

It honestly feels like it never ends and somewhat makes me miss simple townhouse ownership If you like apt life buying a townhouse is perfect They even come with garages.

I do like having all the stuff. Just think it might be better if it was a friends stuff ;)

[HickRocket1258]

Originally Posted by lownslow95

Yeah, I really can't see myself owning a house. I'd rather have an apartment, and not have to worry about anything. But thats just me. It's sad that I'm 26 and I'm still living at my parents. But thats only because I am unemployed and unemployment isn't coming in...FML.

It's ok I'm 26 and still live with the parents. If I had a decent salary I'd be doing pretty damn well, but unfortunately my screw ups in the past hurt me obviously.

Mark, I'm with you. Pay those rent payments 30 years from now you are only paying property tax and a few other things on the house. Plus at least you can get equity from the house as well.

[420sx]

I love being a home owner. I dont even really own it, its my family's house... but I treat it as if its my own. I put my own money into it. I did the roof over my porch last fall, im putting a new front door on soon, and Im painting the garage this summer. I love feeling like ive accomplished something, and putting money into a house is pretty much a guaranteed 100% return on that investment. I enjoy making constant improvements, making my living quarters suit me better every day. I pay rent to my family, but for all intensive purposes, im the home owner. I couldnt imagine living in somebody else's appt, having to call the landlord every time something breaks. I enjoy the sense of ownership, and I take pride in making my 200 year old money pit into something a little bit better.

[jpalamar]

Originally Posted by 420sx

I love being a home owner. I dont even really own it, its my family's house... but I treat it as if its my own. I put my own money into it. I did the roof over my porch last fall, im putting a new front door on soon, and Im painting the garage this summer. I love feeling like ive accomplished something, and putting money into a house is pretty much a guaranteed 100% return on that investment. I enjoy making constant improvements, making my living quarters suit me better every day. I pay rent to my family, but for all intensive purposes, im the home owner. I couldnt imagine living in somebody else's appt, having to call the landlord every time something breaks. I enjoy the sense of ownership, and I take pride in making my 200 year old money pit into something a little bit better.

Tell that to the majority of homeowners that are upside down on their loans...

[crazyduckme]

I honestly can't wait to own a home. It's yours. You can do whatever you want to it... add on, gardens, yardwork... I love all that stuff. I love love love interior design, so when I get a house I'm gonna flip out at all the stuff I can do! hahaha.

[lownslow95]

Originally Posted by HickRocket1258

It's ok I'm 26 and still live with the parents. If I had a decent salary I'd be doing pretty damn well, but unfortunately my screw ups in the past hurt me obviously.

Yeah, I had a lot of screw ups when I was younger, and I regret what I did in the past. But I have moved on, and haven't looked back since. I just wish I was financally stable right now, but that's what I get for all the dumb **** I did when I was a teenager. I just need to get back on my feet, find a job, and hopefully find a place to live on my own. I'd want an apartment, but if I can find a town house, reasonably priced, I'd take one.

[angdefeo]

Originally Posted by jpalamar

I think owning a house is overrated. I truely believe it is a myth that you save money by owning rather then renting.

it makes financial sense if you buy a house that will slowly appreciate overtime.

the other thing that needs to be calcualted into the home owning argument is that you need to live someowhere, whether it be an apartment, house ... whatever. there is a monthly cost associated with it. so the money that you put out builds for you in an asset that you can eventually sell. then there is the tax benefit of owning a home. you can write of the mortgage interst, the property taxes etc...

if you only plan on living in an area 5-10 years, renting will win out over owning. but if you plan on it being for longer than 10 years, then buying and owning the house make better financial sense.

[420sx]

Originally Posted by jpalamar

Tell that to the majority of homeowners that are upside down on their loans...

Which is why I have no plans to sell my house any time soon. Im not worried about the fluctuating market. There is no mortgage on my house. As long as I can pay the property tax on it each year, theres no reason for me to ever consider selling in this market. Youre only upside down on a mortgage while the market is in the pooper. If you know that the market is going to come back, and can afford to hold onto your property until then, then any money put into the property wont be wasted. Selling a house right now is craaaaazy, IMO.

Even if I HAD to move somewhere and had a mortgage on the house, Id do everything in my power to rent it out, and make up the difference between the rent and mortgage on my own. Selling a house right now is only worth it if you IMMEDIATELY turn around and buy another one.

[DownforceTom]

Apartment living is cool, just check the neighbors first. I've learned that lesson the hard way.

[420sx]

Originally Posted by lownslow95

Yeah, I really can't see myself owning a house. I'd rather have an apartment, and not have to worry about anything.

Poor people BUY things that depreciate in value, while rich people INVEST in things that appreciate in value. You want to get your money working for you, so you dont have to worry about anything. Yeah, when you buy your first house you'll be doing all the bitchwork around the house... but once youve got yourself set up financially, and have your properties EARNING you money, you wont have to.

[jpalamar]

I dunno man. Between the purchase price, closing costs, interest, insurance, taxes, higher living expenses IE electric, water, trash, and maintance I don't see it has an investment. I see it as something you want and there is nothing wrong with that. The house would have to appreciate a **** ton to overcome the costs of ownership VS what it would cost to just rent an apartment.

With the housing market crash so many things have changed that I doubt houses will appreciate like they used to... especially with the economy being as bad as it is and likely will be for many years to come. Not to mention stricter credit limites your potential buyers as well.

These are just my thoughts... aside from costs, there are alot of very attractive reasons to buying though. Not saying it is a bad thing, but I just don't believe buying a house for financial reasons is a great decision because when I do the math in my heads an apartment just seems cheaper.

[Snoozie]

I love renting and have awesome neighbors. When **** breaks, I don't have to pay for it. That's win.


P.s. I'm still a little drunk. Yup.

[Reese]

Originally Posted by Snoozie

P.s. I'm still a little drunk. Yup.

......

got home at 2am woke up at 5:30am...story of my life

[Big_Jim]

awesome ****ing time last night.

[HickRocket1258]

Originally Posted by jpalamar

Tell that to the majority of homeowners that are upside down on their loans...

I could say that my parent's house has probably doubled in value since the time they have moved in back in 1993. My dad had the option of paying off his mortgage but he decided to build another addition/garage. Is it going to bump up the value the same amount he spent on it? No. But he certainly helped the value.