Rent or Buy a house (assuming you can afford both)?

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jimmy m
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11 Jul 2019, 12:50 pm

An article on the subject appeared in the news today. Their takeaways were:

1. Renting typically costs less than owning an equivalent home.
2. Renting may be a better way to build wealth, especially in the short term.
3. Homeownership is an investment, but not always the best investment.
4. If you don’t plan on moving, owning may make more sense.
5. Owning has tax advantages.
6. Buy low, sell high.

Source: It's peak moving season: Should you rent or buy?

Another interesting point in this article was
According to a Bankrate survey, 62 percent of Americans don’t plan on moving out of their house—ever.



BTDT
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11 Jul 2019, 12:57 pm

If you think a lot of people will move to where you live, buying a house should be a good investment.

If everyone is leaving, buying a house isn't such a great investment.

Where I live the my house is worth now 200,000. A modest increase of 50,000. But the traffic through town is worse.



nick007
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13 Jul 2019, 8:44 am

Another thing to consider is that if you rent, chances are that your apartment will be connected to others. Depending on the specific set up & where your apartment is located, you could have an apartment on two sides of yours, across the hall, directly underneath, or directly over or a combination. That could be a problem especially for us Aspies cuz we can have sound sensitivities & noises from our neighbors may bother us more than NTs would be bothered by them.


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GiantHockeyFan
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15 Jul 2019, 6:53 am

nick007 wrote:
Another thing to consider is that if you rent, chances are that your apartment will be connected to others. Depending on the specific set up & where your apartment is located, you could have an apartment on two sides of yours, across the hall, directly underneath, or directly over or a combination. That could be a problem especially for us Aspies cuz we can have sound sensitivities & noises from our neighbors may bother us more than NTs would be bothered by them.


My first apartment was in a neighborhood that while not a ghetto, was well below average and I lived in a massive 12 story building: only once in three years was I bothered by noise. My second apartment was in a better location and again, just one noise complaint. I have since moved into a nice detached house (far beyond what I could ever afford on my own) in a good, sought after neighborhood. To make a long story short, behind me was a around 25 year old @$%^head who loudly cursed and screamed and had loud parties until 6am every weekend (parents must be deaf, dumb and blind) and the next door neighbors 18 year old daughter had very loud parties on their deck until 2-3am. It got so bad I had to get the cops to visit them to finally shut them up. So far this year it's been heaven but I would have never imagined this would happen in such a nice family subdivision.

My wife and I have already decided when we move next (hopefully the final time) it will be to a house where I can't see any neighbors at all, surrounded by trees.



nick007
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15 Jul 2019, 12:01 pm

GiantHockeyFan wrote:
nick007 wrote:
Another thing to consider is that if you rent, chances are that your apartment will be connected to others. Depending on the specific set up & where your apartment is located, you could have an apartment on two sides of yours, across the hall, directly underneath, or directly over or a combination. That could be a problem especially for us Aspies cuz we can have sound sensitivities & noises from our neighbors may bother us more than NTs would be bothered by them.


My first apartment was in a neighborhood that while not a ghetto, was well below average and I lived in a massive 12 story building: only once in three years was I bothered by noise. My second apartment was in a better location and again, just one noise complaint. I have since moved into a nice detached house (far beyond what I could ever afford on my own) in a good, sought after neighborhood. To make a long story short, behind me was a around 25 year old @$%^head who loudly cursed and screamed and had loud parties until 6am every weekend (parents must be deaf, dumb and blind) and the next door neighbors 18 year old daughter had very loud parties on their deck until 2-3am. It got so bad I had to get the cops to visit them to finally shut them up. So far this year it's been heaven but I would have never imagined this would happen in such a nice family subdivision.

My wife and I have already decided when we move next (hopefully the final time) it will be to a house where I can't see any neighbors at all, surrounded by trees.
I guess it can depend on the neighbors you have. We live in a townhouse apartment that has real thin walls. Our neighbor on one side plays heavy bass a lot & it's sometimes so loud we don't wanna be in our living room. Politely asking him to turn it down doesn't work & we had a property manger for a while who didn't give a sh!t. Slight side note with that property manger was that our refrigerator broke rite after that guy started & it was literally 10 days before we got a new one. One advantage to living in an apartment that jimmy mentioned is that the landlord or property manager is responsible for fixing things. However depending on your landlord/property manger that could potentially take a long time. If we would of owned our place & our fridge broke that looked as old/worn as ours, we would of went look at fridges the next day & bought one in stock from somewhere that would come in within the next couple days. Anyways getting back to the noise issue, we have a new property manger now who actually seems to care. She sent our neighbors a note a few months ago giving them a warning & telling us to let her know if we hear it at all again. They've been complying for the most part except on holidays & we might could still hear it some of the rest of the time but it's low enough where probably most people wouldn't really be bothered by it which we can live with. It's much better than how it was before we told her cuz it had gotten so loud that we could hear it upstairs in our bedrooms during the day & we still didn't wanna be downstairs at night when the noise ordnance went into effect; we couldn't hear it upstairs at night so it was lower but still way too damn loud. We heard it loud this 4th of July thou & thought it was just cuz it was a holiday but we also heard it Friday the 5th & Saturday the 6th. We know some places were acting like Thursday July 4th through Sunday the 7th was a 4 day holiday so we thought we'd give our neighbors till Monday. We don't wanna be dicks, we don't expect the world to accommodate us cuz we have sensitivities & other issues, they should have a rite to enjoy their music & TV but within limits, plus we don't wanna get them evicted cuz he has a 10 year-old daughter that he yells at aLOT(I know she's 10 cuz I heard him yell that out recently when he was fussing at her). A lot of people would of found that bass loud thou. We heard the bass loudly again last Thursday which I think was the 11th so me & my girlfriend felt we had to contact the property manger again. She didn't say much except that they shouldn't have the right to disturb us like that. I have heard the bass some last weekend but wasn't as loud & was tolerable so we can live with that if it stays that way. Maybe they just needed another warning. My parents live in a nice size house with some yard & things are much quieter than living here. Traffic isn't as loud cuz the house isn't nearly as close to the road as our apartment is & the house was well built(my dad works in construction & did a lot of the work himself), it's brick. Our apartment is just wood & over a hundred years old when we moved in. My parents neighbors would throw parties sometimes but we only really heard noise when we were outside. Me & Cass are trying to move & we're on waiting lists but that takes time.


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But I don't want to go among mad people, Alice remarked.
Oh, you can't help that, said the Cat: we're all mad here. I'm mad. You're mad.
How do you know I'm mad? said Alice.
You must be, said the Cat, or you wouldn't have come here.


Lockheart
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21 Jul 2019, 12:01 am

It also depends on what renting is like in your state or country. In Australia, renting is the pits. You have very little security of tenure. Leases typically run for six to 12 months and you're always terrified you'll have to move because the landlord will want the property back or they will raise the rent beyond what you can afford. As a renter I have had to move three times through no fault of my own. On top of that, in my state the landlord or real estate agent can inspect the property every quarter.

The constant invasion of privacy and lack of security is awful even for non-Aspies. For me it's no contest - I will buy as soon as I am in a position to do so.



Fireblossom
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21 Jul 2019, 6:36 am

I'm renting, but will buy my own place as soon as I can. It's both a relatively safe investment (as long as I don't choose a bad area or one that goes down in value for some unlucky reason) and a necessary thing that, in the long run, will be cheaper than renting. Sure, it's more work than living at a rented place, but I'm not afraid of having to learn new stuff when I know for sure it's going to benefit me.



smudge
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21 Jul 2019, 7:45 am

GiantHockeyFan wrote:
nick007 wrote:
Another thing to consider is that if you rent, chances are that your apartment will be connected to others. Depending on the specific set up & where your apartment is located, you could have an apartment on two sides of yours, across the hall, directly underneath, or directly over or a combination. That could be a problem especially for us Aspies cuz we can have sound sensitivities & noises from our neighbors may bother us more than NTs would be bothered by them.


My first apartment was in a neighborhood that while not a ghetto, was well below average and I lived in a massive 12 story building: only once in three years was I bothered by noise. My second apartment was in a better location and again, just one noise complaint. I have since moved into a nice detached house (far beyond what I could ever afford on my own) in a good, sought after neighborhood. To make a long story short, behind me was a around 25 year old @$%^head who loudly cursed and screamed and had loud parties until 6am every weekend (parents must be deaf, dumb and blind) and the next door neighbors 18 year old daughter had very loud parties on their deck until 2-3am. It got so bad I had to get the cops to visit them to finally shut them up. So far this year it's been heaven but I would have never imagined this would happen in such a nice family subdivision.

My wife and I have already decided when we move next (hopefully the final time) it will be to a house where I can't see any neighbors at all, surrounded by trees.



I love trees, they sound and look so peaceful. I'm glad you're doing well. :D