/biz/ - Business & Finance

>>53714766
yes, as long as it's not HOA

>>53714766
Big fucking duh. JFC

Yeah. Kinda depressing you can't get no higher.

>>53714766
Not if your rent is cheaper than what a mortgage is monthly

>>53714877
The rent has to be cheaper by a factor of like 2x for it to be better to rent.

>>53714766
"ownership":
>20-30 years of debt slavery to a bank
>bound to this country, town and property for life
>inflexible, unable to leave or pursue opportunity else where
>gotta maintain that house, repair it, look after it and carry all the responsibility
>house can be taken away under certain circumstances

renting:
>lightning-fast mobility and flexibility
>leace whenever you want, where ever you want to pursue opportunity elsewhere
>complete freedom, not being indebted to anyone
>dont have to pay property taxes, maintain the house, worry about repairs and other bs
>it can never be taken away

Its not the 60, 70, 82, anymore and you are not a boomer. Times have changed. Things have changed. Its the most adaptable that survive. Paying mortage, being a debtslave, binding yourself to one location to own a house is an outdated model. It worked 30 years ago, but the world has changed. Today flexibility, mobility and freedom are key.

I can be renting a place and go anywhere, anytime and not being burdened down by shackles of debt, taxes, and being bound to one location. If I dont like it, I just leave. If I feel like changing scenery, I go somewhere else. If a war breaks out, my bags are packed within 30 minutes. If another scamdemic happens and government/society bully me into having a vaccine, I can just leave for another country. If the economy goes tits up I can leave at a whim and go pursue opportunity else where in the world.

Total freedom and mobility with a world of opportunity
or bondage and slavery for the illusion of "ownership"

Doesnt seem like a hard choice

>tl;dr renting is better unless you are a boomer trying to live like its the 60s

>>53714766
Checked. Yes, homeownership is the epitome of having a great life. Anyone saying otherwise is coping hard.

>>53715070
>I can be renting a place and go anywhere, anytime and not being burdened down by shackles of debt, taxes, and being bound to one location. If I dont like it, I just leave. If I feel like changing scenery, I go somewhere else. If a war breaks out, my bags are packed within 30 minutes. If another scamdemic happens and government/society bully me into having a vaccine, I can just leave for another country. If the economy goes tits up I can leave at a whim and go pursue opportunity else where in the world.

No one tell this anon he can just sell his house.

>>53715070
there here, with renting you can live in the hustle and bustle of your favorite big city!

YOU CAN LIVE NEXT TO THE HECKIN DOG PARK AND BARCADE! THERE IS EVEN HUMAN POOP IN THE LOBBY!

WOWZA

>>53715070
>posts on Zillow
>receives $200k after putting in less than $50k
Retard

No. Learn to opportunity cost. At current interest rates you'll have paid 77%/23% interest/principal after a decade, even with 3% rates you're still paying over 50% interest in the first decade. Fuck off with your "pissing away money" on rent, you're pissing away money on a mortgage too, and rent doesn't require a $50-100k down payment, which when properly invested easily makes up what you've "lost" (formally known as Gained) by not staking your capital in the boomerbox shitcoin

>>53714773
Filtered

>>53715070
Lots of new homeowers coping to this response

t. bought the 2018 dips in a hot market, sold all re at the obvious bidding war top last year. Currently renting to protect the capital I've amassed. Few understand this strategy.

>>53714766
Yea but not by much honesty. It’s the best to live on property in the middle of no where I’ve found.
Real estate broker

>53715070
>dont have to pay property taxes, maintain the house, worry about repairs and other bs
renters pay all of that though, it's included in your rate. even if you take care of the place yourself, undesirables also rent there and shit up the place so that increases your rate. oh goodness, you're directly subsidizing them. lol

>>53715147
This.
Buy a couple acres, put a trailer on it. Enjoy. Put a yurt on it if you're a real Mongol OG.

>>53714877
Studio apartment in my area is 2k+ meanwhile my mortgage +HOA +property taxes +utilities on a 3 bedroom 3 bathroom condo is only 2k.

>>53714877
And how often is that the case? I just checked apartment listings in my area. The cheapest studios are 10-15% more than my mortgage on a 3000 sq ft house. Cheapest 1 bedrooms are 20-25% more, cheapest 2 bedrooms are 30-40% more. This might have worked in the past but with the way rent is going good luck.

>>53714766
Most the time yes. Traditionally owning lets you essentially pay yourself while also being cheaper than renting. Nowadays that isn't always the case. To get similiar square footage on a house than what I'm renting would cost me 50% more per month, so I'm stuck renting until rates drop or the housing market crashes or my landlord cranks up the rent and i have to move back in with my parents

>>53715313
What was your total out of pocket (closing costs+down payment) and what year did you buy?

>>53715085
>sell your house
>lightning fast flexibility

lol no. I can pack my bags and leave within 30 minutes if I am renting. If you need to sell your house, it will be a pain in the ass and take atleast 6 months unless you want to sell way underpriced. You dont always have time to sell a house if a war breaks out, the economy collapses, another scamdemic hits or maybe you just simply have better opportunity else where.

>>53715088
with renting you can live anywhere in the world, whenever you want. Being a debt cuck you better hope your suburb aint gonna be flooded with enrichment.

>>53715099
thats not how it works.

Cope mortage cuck. Your bank is your landlord for the next 20 - 30 years. You better work extra hard, dont want your master to take away "your" house.

>>53715346
I bought in summer 2020 at 3% fixed. I only put down 5%, I could have done around 15% but I decided to spend that money on renovations and upgrades around the house instead. Nobody was buying in the height of the pandemic so one of my requests was for the seller to pay all my closing costs and they agreed to it. I only had to spend a few hundred on closing costs for stuff that legally could not be paid by the seller. Before I bought I was living in a 2 bedroom 1000 sq ft apartment nearby and even then, before the brrr-induced inflation, my rent was about 10% above my mortgage.

>>53714877
Usually never happens, as the rent will be mortgage costs + maintenance costs + margin

>>53715383
DUDE i just LOVE the hustle and bustle of the big city, it’s so DYNAMIC and makes me feel like i’m in one of my favourite TV SHOWS. you should totally come on down to my studio apartment, it’s got EXPOSED RED BRICK walls and everything, we can crack open a nice hoppy ipa or three and get crazy watching some cartoons on adult swim! and dude, dude, DUDE, we have GOTTA go down to the barcade- listen here, right, it’s a BAR where us ADULTS who do ADULTING can go DRINK. BUT!!!! it’s also an ARCADE like when we were kids, so we can play awesome VIDEO GAMES, without dumb kids bothering us. speaking of which megan and i have finally decided to tie the knot- literally -we’re both getting snipped tomorrow at the hospital, that way we can save money to spent more on ourselves and our FURBABIES. i’m fuckin JACKED man, i’m gonna SLAM this craft beer and pop open another one!!!

>>53715124
>Just time the housing market bro

>>53715070
Simple fact is renting is similar cost to getting a mortgage, and you have no asset to show for it at the end.

>>53714766
Kek

>>53715383
>leave within 30 minutes
Mommy’s basement confirmed. You ever sign a lease faggot? Management of my unit is charging $700 just to list the apt for rent if you wanna break the lease.

>>53715070
Astronomically based

>>53715581
>his lease isn’t MTM

lmao git gud faggot

>>53715520
>bought during low rates in a buyers market at a local low
>encourages anons to buy during high rates in a seller's market at a local high
You are a bad people and you should feel bad

>>53715544
'no' see:>>53715111

>>53715117
HOA is for retards. You buy a home that isn't even yours

>>53715620
I'm not encouraging anyone to buy right now, I've just been pointing out how "rent is cheaper than mortgage" isn't true. I haven't even owned for 3 years yet and my mortgage is already drastically cheaper than local rent so it's not like I'm using a mortgage that originated in 1998 as the comparison with rent. Personally if I was looking to buy I'd wait another year or two. Rates will go down and if the economy takes a massive shit like I think it will it's a buyer's market again.

>>53715557
>Simple fact is renting is similar cost to getting a mortgage, and you have no asset to show for it at the end.

And it all comes at the little price of your freedom and flexibility too! What better way to live your life than to physically and financially bind yourself to a single location in times of political and economic uncertainty! What better way to live your life than being owned by a bank for the most crucial part of your life while you are still young and strong?

>>53715551
mortgage cuck mega cope.

>>53715581
Thats why you dont sign a lease. I am paying a fixed monthly sum and thats it.

>>53714766
Its about yield and leverage.

Assuming house is fully paid off, you have how much locked up; 500K?

Whats a reasonable yield? 8%? So that money should get you 40k/year. Is your rent 40k/year?

Theres also leverage; govt. subsidized loans. Getting that lets you 'invest' someone elses moneym which is a steal. Unless the market bottom drops out then you can rope.


And lastly nonfinancial: The peace of mind of never having to worry or move if you dont want to.

>>53715111
Ultra based. Don’t get how so many don’t understand this. The money I net from waging - rent, invested just semi not retardedly, will 9/10 times out perform the roi of the principal of a home.

what is the tax rate on income from rent?

>>53715070
Ngmi

Buying a house just a little longer process than Renting

>>53714766
Living in a home for free is the optimal lifestyle.

>>53715624
So? As I said with rent you are paying the landlords principal / interest / matainence / plus a few % margin.

>>53714766
>It's another thread where people complain about rent.
Holy fuck.

>>53714766
>>53714877
>Was paying 700€ rent every month for my small apartment
>Bought my house 200k€
>Have 80k paid right away with my own money
>Only have a 650€ monthly mortgage for 20 years
>My house value has raised by 30% in the last 2 years.
Each case is different but it wasn't a bad deal at all in my case.

YouTube pruned Shkrelis video on buying vs renting wtf

>>53715070
>>gotta maintain that house, repair it, look after it and carry all the responsibility
they don't know this alone, eats there equity over 20-30 years. 10k for bathroom remodelling, 12k for roof, 10k paintjob. oop lets repair the deck. oh fuck the hot water heater burst time to drop another tenner for that baby. pipes froze this winter? another 10 ez. i'm so fucking back. home owning is piles of wasted money and exorbitant responsibility. combine that with inflation, jesus you might be lucky to break even owning a hosue.

>>53716461
>~$2000 a year for house maint over a 30 year period
seems like a good deal to me

>>53716475
>>53716461
>~$5.50 a day for house maint
sounds like a fucking great deal to me

>>53714766

>>53714766
Lol I can airbnb in the Mediterranean for cheaper than UK single person rent.

Why wouldn't I go digital nomad?

>>53715070
I dont want to move 3 times a year so no


Renting is a nomade concept aka jewish

Actually renting is objectively better in most regions at the moment.
But two years ago the opposite was true. If you bought your home at a 2-3% mortgage rate, there's not much reason to sell now. That cheap mortgage was the real deal.

>>53714766
It depends,taxes fuck your over in some places.

>>53716913
Yeah, home ownership is just a side effect of getting hundreds of thousands of dollars of leverage at a cheap fixed interest rate.

>>53715646
What happens when landy wants his house back?
You pack your bags?

>>53716822
well you are boring and a basement dwelling incel.

>>53715085
>DUDE JUST SELL YOUR HOUSE LMAO
selling fees are 6% minimum, closer to 8% with all of the other bullshit tacked on. in most cases if you sell earlier than 5-8 years, you're losing money relative to renting.

>>53715767
>>53715624
>>53715111
This line of thinking is only true if you plan to be working in a big city, maybe also job hopping and renting in different places.
For someone like me who works remote, buying a rural house makes much more sense than renting a rural house.
I am still against mortgages as well. The ideal for me is living with your parents until you have enough money to build a house or buy one in cash. But mortgage beats renting for the simple reason that you have a roof over your head when you retire.

>>53716822
those jews are so terrible with money

>>53717420
???

How?

In the UK you can list your property for free online and manage the viewings yourself. Plus about 1.5k in legal fees, and stamp duty of 2% on anything above 250k.

>>53717583
in the UK you're given the non optional choice to rent your house out to illegal immigrants from god knows where.

enjoy being destroyed as a class like a transnistrian kulak when the WEF capos come to let you own nothing and be happy while the rentcucks are all sipping pina coladas in equador

>>53717671
>>/pol/

>>53717583
in the US it's customary for the seller to pay the buyer and the seller's realtor fees. that's 3% + 3% = 6%. then there are a bunch of other nonsense (((selling costs))) that must be entertained.
>selling concessions and repairs
>transfer taxes
>moving and overlap costs
>capital gains, if applicable

>>53717702
I see. Wow, that does suck. Property is CGT free in the UK as long as its your primary residence.

>>53714766
Homechad here
Living in a house you own with no mortgage is apex pleasure
Buy a cheap house in a decent neighborhood, make it nice with your own hands and enjoy no nut to crack every month with low tax overhead

>>53716979
>You pack your bags?

Yes. And you move to a different place. You have all the options in the world. Dont even have to stay in the US. You can live live like a king in a sea view downtown penthouse apartment for 600-800$ with gym, swimming pool, etc in places like thailand.

That doesnt work if you have a shit ton of stuff you want to take with you so its a question of lifestyle I guess.

What kind of a dumbass question is this

If youre gona have a family, you better buy a house. If youre not gona have a family, then it doesn't really matter what the fuck you do.

>>53714766
Home ownership is a lifestyle choice where you sacrifice your freedom of movement to gain freedom over your domicile. If you're young, early in your career, and have many prospects that could take you across the globe, home ownership is a less attractive option than renting. If you're old, set in a location, and have a steady job that you'll likely do forever, owning a home is the better option.

But a house is not an investment and anyone who tells you differently is probably trying to scam you.

>tfw middle class chinese gf who will buy us a house

>>53714766
Yes

>>53717583
This is why in the US you'll frequently see "for sale by owner" signs in peoples' yards, indicating that a realtor isn't involved on the seller side.

>>53714766
Once upon a time there were trade offs, but now renting is practically like buying, so you may as well buy. Fucking landlords want letters of recommendation and all sorts of other goofy shit because they’re leveraged beyond imagination and if one tenant is a day late on their rent, their whole operation implodes.

>>53718367
You're the dumbass in this thread. Renting can be the better choice (btw you can rent a house) depending on a country's laws and regulations.

>>53715070
You will own nothing and be happy.

The best way to make money here in scandinavia is to take out mortgages for apartments and then lease them out to single moms with kids. Banks wont lend to them, but they receive so many benefits from our socialist government that they never miss rent.

Easiest fucking money in my life. I am eyeing to own at least 10 properties doing this. My dick goes hard everytime I check-up on the current divorce rates

>>53714773
HOAs are the only places worth living out west. Honestly, some of them are great because they maintain communal areas which are something desperately lacking in most suburban hellholes

>>53715557
>Simple fact is renting is similar cost to getting a mortgage, and you have no asset to show for it at the end.

what is 30 years multiplied by $5-10k annual property taxes? $240k? lol

>>53714766

lol "ownership"

watch what happens if you stop paying property taxes to your overlords, you don't own shit.

>>53721258
It’s funny how you envy pigs watched everyone with RE get filthy rich the last 10 years but you want to pretend they’re losing money to cope.

Life is so easy when you pay $600 for your mortgage and the rental rate is $2000. The cash flow alone pays your mortgage interest 4x over. Repairs feel free. You’re missing out.

>>53721299
That had nothing to do with RE vs other assets though. And everything with inheriting. And then investing that inheritance in the stock market would have been better.

Imagine thinking "buy home" is some sort of panacea nobody thought of in 2023. It's a high risk investing decision. If either rentoids or homeowner copers get a sizeable advantage politics will take it away from them.

>>53714766
Not at these interest rates.

>>53721258
the chance of you losing your home over not paying property taxes is pretty small unless you owe like 10+ years of back taxes. The government doesn't want to own your home, it's a liability.

I have a feeling that vancuck is mostly creating these threads

>>53715078
The flexibility of owning your own house is extreme; I never imagined buying my own house, but last year my GF suggested it, and I bought my first house.
Last year in Cyprus, I even paid with crypto from Kensington.

>>53715124

Rentcucks talk about being tied down to a mortgage as if leases don't exist

Want to know the difference? When I want to move out, I can sell my house and at worst break even. The process may take a month but "oh no, a whole month... whatever will I do"

Meanwhile you break your lease and are literally fucked out of thousands of dollars. I don't want to hear about your own personal story about how "blah blah I broke my lease and didn't have to pay blah blah"

Fact of the matter is in the vast majority of apartments, if you break your lease you have to make a bulk payment to cover all of the months left on the lease. You literally enter into one of the DUMBEST contracts by signing a lease.

Yeah, nice "freedom", retard

>>53714766
home ownership yes. mortgage slave no. cash or no deal, jack.

Imagine paying a mortgage or rent like a homeless person.

>>53723844
Yall pay for real estate properties with crypto just because of the cashback you earn Smh

>>53714766

>>53714766
yes, especially in countries not cucked like US
we don't have any tax on the first house here

>>53714766
Fuck no, I don't want to mow or be responsible for maintaining this property

>>53714766
if you inherit the home

>>53714766
In many markets buying is more expensive than renting and makes zero financial sense.

You need to do the math in your market to find out whether it makes sense there.

>>53714766
cool it off with the anti-semitism

>>53714766
Depends. If you live in the same general area more than 20-30 years you will always come out ahead from having bought.

i bought a 2000 sqft home from a desperate homeowner in the summer of 2020 for just under 100k and I'm now sitting on 150k in equity less than 3 years later after not putting a dime into it other than replacing a couple of appliances

>>53725066
also my mortgage is $660 per month

>>53714766
Just become poor and have dot gov pay for it.

>>53724795
you haven't thought about what color and material your made-it robe collection would be like

>>53715683
Rent on a 500k house is indeed about 40k/year in my area. Are you thinking it should be higher or lower?

>>53714773
we can see your skin color.
>WATS YOU MEAN I NOT LET ME DOG OUT WITHOUT A LEASH?
>WATS YOU MEAN I CAN NOT PLAY ME SONGS AT 3AM?
>WATS YOU MEAN I CAN NOT PARK ME 8 STOLEN CARS IN THE NEIGHORHOOD?
>WAT YOU MEAN MY GRASS IS TO LONG. I MOW LAST YEAR?
>WAT U MEAN MY LIGHTS ARE SHINING IN YOUR BEDROOM?
>WAT U MEAN MY DOG IS BARKING AT NIGHT?

>>53714877
Maybe but at the end you own a house, at the end of rent you own nothing.

>>53725506

Based. I used to hate HOAs but then I realized how much worse it is to have shit neighbors. They’re basically an insurance policy against a terrible neighbor making everyone’s lives hell

>>53725506
>Not having a shotgun for the ni.....

>>53725557
well sooner or later you die--you come into this world with nothing and leave with nothing. Sure you can pass on wealth to kids/etc but they'll just take the money and buy drugs and prostitutes and say mean stuff about you and piss on your grave.

>>53715111
checked
99% of people underestimate maintenance cost, and have no clue what opportunity cost is

Only for raising kids, if you’re a single young man it’s a mistake. Especially if you take a mortgage. It feels great you can just up and leave the city anytime you want to, you never know what opportunities or troubles will come your way. A family and home are burdens to your freedom that you will have to take someday but if you’re not ready to settle down you’re restricting yourself needlessly. Maybe your parents are advising you to get one but they lived in different times.

>>53725602
>>53725557
You can reverse mortgage the equity though

homes are absolute money pits, what makes them valuable are mortgages with suppressed rates
it used to be that if you bought a new home, you could at least bank on 10-20 years of minimal maintenance
but now, homes are made so poorly you'll probably have a major repair in half that time

>>53714773
Nonsense. HOAs can be a pain but their entire goal is to keep the development from turning to shit and maintain property values.
>>53715070
Oh fuck off. You're not "moving" anywhere. You wish you were that interesting of a person. You might bounce between 2 or 3 shitty one bedroom apartments in some shithole city where you dump all your money into crappy overhyped restaurants with exposed brick walls.

>>53725619
Its called "other peoples money" for a reason.

>>53714766
If, you own it yes, but if the bank own it, you just rent to own.

>>53726106
true.my fat pig of an aunt has thought about doing this. she'll piss the money away in a year if that.

>>53714766
if you have enough for a down payment and a stable job that you don't plan on killing yourself over, yes.

>>53714766
Yes, it's the mortgage meaning you don't own the home people don't get.

>>53714766
It's a leveraged long on the price of housing, versus renting where you're just buying housing to consoom. So, home ownership is objectively better when it is wise to long the price of housing, and objectively worse in times where the price of housing is stable or decreasing.

>>53728252
>having a roof over your head BAD

>>53728283
? It's good to have a roof over your head always. renting is the better choic when market goes down or is flat, owning is the better choice when market goes up.

>>53728364
>yeah man just keep moving constantly, it's so pleasant

>all these seething rent cucks
Living with some obnoxious faggot neighbor across the street can be ignored. But if that faggot lived in the same building as you do you're fucked.
>I can just move out bro, surely there won't be some new dipshit I'm forced to literally live under in the next condo!
Just... lmao

>>53717473
Even if you have cash on hand, a cheap mortgage is the ultimate way to margin trade. If you're not a complete retard you can easily beat the 3% interest you're paying.

>>53728395
you know you can rent a house right?

>>53715111
9 out of 10 people are better off buying than renting in most cases because they have no self control. So its better they park it in a hard asset that isn't easily liquidated.

>>53715070
Uhh we're reaching levels of based that shouldn't be possible. When you see mainstream articles talking about how single women are now a much larger segment of homebuyers then single men, that's a top signal

>>53728933
Literally "not an argument", if fact supports the position that buying is sub-optimal in most situations as a retard-crowded trade is not a trade you want to be in. The simple reality is that RE is a shit investment and has COMICALLY underperformed the market (to say nothing of crypto) for all meaningful time periods. Property is something to buy after you've made it, like a Lambo, locking your capitol in the boomerbox shitcoin in this market is a nigh guaranteed express lane to NGMI land

>>53728445
>bro jus buy in the past!
Mortgage rates are north of 6%, DO NOT BUY IN THIS MARKET. DO NOT ENCOURAGE ANONS TO BUY IN THIS MARKET

>>53729733
Exactly. You should wait until rates drop and everyone's purchasing power increases. That's the best time to snag a deal without competition.

>>53716461
I forgot rental apartments never need any repairs and the landlord never will transfer these costs into any rent. Every landlord rents their apartment at a loss.

How fucking stupid can you be? Fucking retard.

>>53716461
>10k for a water heater

Lol

>>53715070
squatting:
>lightning-fast mobility and flexibility
>off the grid, drift where ever you want to pursue opportunity elsewhere
>complete freedom, not being indebted to anyone
>dont have to pay property taxes, maintain the house, worry about repairs and other bs
>it can never be taken away

>>53731221
The only moral form of renting is slumlording. Cram enough poor people and illegal immigrants into a decaying house, and it becomes both affordable and profitable.

>>53714773
or a suburb or outside city limits because zoning laws will eventually screw your ass anyway living so far away from everything, it's not worth it. live in a nice estate community near a main highway that's close to a police department, school, walmart, hospital you get the picture. a house like that will only increase in value

>>53725506
I can do whatever I want. These rules are made up by the practicioners of slave morals.

>>53725557
If you invest the difference you are a rich man at the end

>>53731221
home owner has to have capital to pay for it, or instantly loan it.

Renting doesn't have any surprise fees. more cope

>>53714766
Isn’t killing your fucking self objectively better than living on this worthless pointless disgusting filthy planet filled with greedy whores and liars cheaters scammers cowards braindead parrot slaves?
Let me answer that for you: Yes

Poster below me is a homosexual

>>53714887
Me (a social housing chad). Will have saved like 20k€ by the time they kick me out for making to much money to be renting here

>>53715099
>line goes up

>just get a mortgage or rent bro
No. Full payment, cash only.
You vil take zeez cabalistic cotton cocaine caricatures in exchange for blessed earth.