/biz/ - Business & Finance

>>19698292
are you broke, bitch?
rent.

We have this thread everyday

>>19698292
just the catalog brainlet

>>19693724

Renting a place to live is stupid. You always need to live somewhere. If you can get approved for a mortgage, buy a place. Poor people rent.

>>19698292
oh my god princess you are so beatiful i would do anything for you my sweet little gem

>>19698313
>We have this thread everyday

That's because everyday we have most people still not understanding what "negative equity" is.

>>19698292
why is there a crack in the mirror darling?
were you angry about something?
please come here and let me hold you closely and we'll make it all better.
there, there, that's my sweet baby girl. everything is going to be alright

Renting = Borrowing a house, having and unlimited debt forever, similar to an interest-free mortgage but your short an asset, not money

Mortgage = Borrowing a fixed amount of money

Buying in cash = no debt

Read what Dave Ramsey says about this. Getting a mortgage when you can't afford it costs you more in the long run than you lose renting temporarily.

"i don't want to be tied down to a location and i don't want to buy an over priced speculative asset someone has already bagheld at 10x its real value.

Id buy a house but I imagine the fees and everything , real estate agent fees w/e make it not worth it if I was only going to stay in the house for 3 years

I own my house. It's fully paid for and property tax is pretty low ($1500/yr).
And DESU, I miss renting. I hate the resposibility of owning a house and that I have so much of my asset being tied to it.
I can't travel during the warmer months because who is going to mow 1.1 acres of grass? I am constantly fixing shit. I have to keep the landscape looking good so I don't get ticketed by the city. Exterior of the home need to look somewhat decent or it will catch the eyes of the city inspector.... i've been thinking of selling it but I am worried that I won't find such a good house with low property tax again.

>>19698461
More info on that?

>>19698579
uhh, go listen to Dave Ramsey?

sometimes a mortgage will make sense and sometimes it wont.
depends on many things including the loan amount, your debt to income, your savings, other areas of your financial life.

main thing Dave Ramsay says about mortgages , I think, is that its the only acceptable time to go in debt.
but again, only if you can manage to afford it without endangering your other financial stability and priorities

Depends on the area, your career, and your personality

However if you want a family at all, renting is a shit idea

Btw if you're white and don't want a family, please just kill yourself already you fucking loser thanks in advance degenerate

>>19698557

What is a landscaping company? If you rent your landlord pays for that anyway and bakes the cost into your rent. Doing it yourself when you own is just an optional way to save money.

I don't get when people complain about costs when owning, as if maintenance, taxes, etc. don't also apply to renting. The costs are just obscured because they are combined into one payment.

Rental houses still need to be repaired, rental houses have higher taxes, you can get tickets when your rent as well. None of that is unique to owning its just baked into rent.

>buying a house in cash and renting it out
Based
>renting a cheap place and investing
Based
>Getting a mortgage to buy a house
Cucked

>>19698557
>I can't travel during the warmer months because who is going to mow 1.1 acres of grass? I am constantly fixing shit.
Landscape maintenance costs me like $20 a week so I only do the gardening I want to do
As to fixing shit, what are you constantly breaking? If you have defective shit that fails constantly, something is wrong

>>19698364
no it's because tranny faggot op is running a psyop

>>19698628

Because going from renting to a mortgage, is not getting into debt, its reducing your debt. Unless you plan to be homeless, then you will always have to pay rent. Because you will always be in need of housing, so you are borrowing (in debt) a house when you rent.

A mortgage turns this liability into a fixed amount of money. You now own your own place to live, but you are in debt money. But you can pay that debt off, unlike renting where you will be paying an every increasing amount forever.

A mortgage is just "scarier" for people because it makes the total cost known, even though when you rent you are going to be paying a much higher amount over the same time period due to ever increasing rent and interest on the house you're borrowing (landlord has to invest capital into the property then lease it to you, and charges you a premium for it).

The only no debt way to live is to own your house without a mortgage. Otherwise renting is a bigger debt than a mortgage.

>>19698313
>shitskin pajeet upset his memecoins lost another slot in the catalogue

absolutely ABYSMAL

>>19698292
renting is unironically retarded

anyone who is over 24 who still rents is a man-child too poor to save a few thousand for a down-payment or is an unstable mess who wants the ability to move around the world (but will never actually do it)

For:
Don’t need to put up any capital except monthly rent. Allows you to deploy capital elsewhere or most likely you don’t have enough for a mortgage
Flexible, let’s you move around

Against:
Clearly the worse financial decision in the long term. If you rent something for $1500 a month you would likely pay $1000 a month in mortgage of which $300 would be interest so you’re paying 300 to someone else instead of 1500.

>>19698803
For Renting: Flexible, lets you move around

Against Buying: Less flexible. Makes it hard to move around, change jobs if that job change involves moving to another city/state/country

>>19698292
Why do you insist on posting fucking mentally I'll degenerate pervert trannies on biz? Trannies should be curb stomped into a bloody pile.

>>19698292
That's a man

>>19698888
Checked and based.

>>19698723
You always have to eat too, do you count your grocery bill as a debt?

>>19698781
Debatable, at least in the UK. Living in desirable areas with good education + links to London can set you back £500k. Tfw I'm on double UK average (£60k) and it'll take me another 4-5 years for a deposit for a decent house due to London living costs

getting a mortgage is really just going long at 5x leverage (20% down payment) on a piece of property

renting is superior if you know a better asset to long

>>19699016

Not really the same because you consume / use up food. Food is a non durable good that needs to be constantly produced, and economies of scale make it much cheaper to mass produce food than for individuals to own their farms for themselves. But yes, if you literally wanted 0 debt then you'd have to grow your own veggies, raise livestock, etc. That was my point, that a mortgage reduces your debt to a fixed amount that can paid off, rather than renting which is continually borrowing a house that is going up (at least nominally) in value over time.

>>19699155

Except mortgages are very cheap and don't have maintenance requirements (you can't get margin called as long as make the payments).

>>19699184
it's retarded to say rent is a debt. By definition, it's not.

Anyways, I think this is a nice utility for comparing rent to mortgage.
https://www.nerdwallet.com/mortgages/rent-vs-buy-calculator

Though you want to consider other things as well. Apartments, you don't have to do any maintenance. Houses have a +comfy factor, but tend to be a further distance from things you care about (which probably makes it so you need a car, which is a big added expenditure). For example, my apartment is across the street from the grocery and a 10min walk from work.

>>19699519
All these threads and that link talk about how rent increases year after year.
The place I rent has had the price go up once in 4 years which was 2%.
Why would I take a mortgage over that?

>>19698292
it is highly dependent on where you want to live.

https://smartasset.com/mortgage/rent-vs-buy#pdqclhV3Be

also note that buying a house basically makes it a huge hassle to move for a new job

>>19699519

Of course rent is debt, its just not dollar denominated debt. But you will always have that liability.

Renting is an unlimited, never ending, ever increasing liability.

Mortgage is a fixed dollar amount, fixed period, liability.

Both are debt, but renting is the bigger liability over time.

>Apartments, you don't have to do any maintenance

Yes you do, its just done by your property manager, which the cost is baked into your rent. Rentals don't just magically repair themselves or are exempt from taxes (they often pay more taxes). You just don't notice it because all the costs are bundled into your rent. Landlord pays the same bills you would have as an owner, then charges you more for profit.

>Houses have a +comfy factor, but tend to be a further distance from things you care about

Location has nothing to do with whether you rent or buy. Although if you want to buy an apartment in a big metropolis like Manhattan or something you have to be rich. But really, if you aren't rich, living in downtown cities is probably retarded, and requires roommates or living in a shithole apartment.

>>19699715
You can't just say costs are debt. Rent is an operating cost for your life, it's not a debt. Quit being stupid.