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Do You Own Or Rent Your Home?  
User currently offlineCxsjr From , joined Dec 1969, posts, RR:
Posted (7 years 10 months 3 weeks 1 day 21 hours ago) and read 2540 times:

Our breakfast TV show is today running an article on how Britons are getting deeper into debt by taking out mortgages they can't afford.

Apparently a much larger proportion of our European neighbours rent their homes but I'd be interested to get a view from across the globe.

So, do you own your home or do you rent?

Also, out of interest, what kind of monthly rent would you expect to pay for a 2 bedroom apartment within 10km of larger city centres in a decent location?

Thanks folks for any feedback.

96 replies: All unread, showing first 25:
 
User currently offline9VSPO From , joined Dec 1969, posts, RR:
Reply 1, posted (7 years 10 months 3 weeks 1 day 21 hours ago) and read 2534 times:

Own it and don't have a mortgage.

User currently offlineBanco From United Kingdom, joined Oct 2001, 14752 posts, RR: 53
Reply 2, posted (7 years 10 months 3 weeks 1 day 21 hours ago) and read 2533 times:

Own two. Live in one and rent out the other.


She's as nervous as a very small nun at a penguin shoot.
User currently offlineRodge From United Kingdom, joined Jan 2006, 189 posts, RR: 0
Reply 3, posted (7 years 10 months 3 weeks 1 day 20 hours ago) and read 2529 times:

I currently rent a house, but am in the process of buying. I am only using 70% of the mortgage i have been offered to avoid getting into the 'cant afford' situation.

Quoting Cxsjr (Thread starter):
Also, out of interest, what kind of monthly rent would you expect to pay for a 2 bedroom apartment within 10km of larger city centres in a decent location?

The house I am currently in is about 20 mins on the train from Manchester and costs me £450.00 pcm.



Smile
User currently offlineZKSUJ From New Zealand, joined May 2004, 7089 posts, RR: 12
Reply 4, posted (7 years 10 months 3 weeks 1 day 20 hours ago) and read 2528 times:

Renting right now. Won't be buying a house for a few years yet

User currently offlineEA CO AS From United States of America, joined Nov 2001, 13518 posts, RR: 62
Reply 5, posted (7 years 10 months 3 weeks 1 day 20 hours ago) and read 2521 times:
Support Airliners.net - become a First Class Member!

Owned a house and a condo, but finally unloaded the condo and kept the house.


"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan
User currently offlineSuperfly From Thailand, joined May 2000, 39709 posts, RR: 75
Reply 6, posted (7 years 10 months 3 weeks 1 day 20 hours ago) and read 2521 times:

The last time I answered this question I got flooded with junkmail in my mailbox and emails so I am not telling.  no 


Bring back the Concorde
User currently offlineVHVXB From Australia, joined Apr 2006, 5523 posts, RR: 18
Reply 7, posted (7 years 10 months 3 weeks 1 day 20 hours ago) and read 2519 times:

Neither. I live with my parents.

User currently offlineHAWK21M From India, joined Jan 2001, 31667 posts, RR: 56
Reply 8, posted (7 years 10 months 3 weeks 1 day 20 hours ago) and read 2513 times:


Live in my own House in a crowded city with 24x7 noise  Smile
regds
MEL



Think of the brighter side!
User currently offlineSkyman From Germany, joined May 2006, 494 posts, RR: 0
Reply 9, posted (7 years 10 months 3 weeks 1 day 19 hours ago) and read 2501 times:

Quoting Cxsjr (Thread starter):
Also, out of interest, what kind of monthly rent would you expect to pay for a 2 bedroom apartment within 10km of larger city centres in a decent location?

I rent  Sad .
Your question is difficult to answer because of totally different prices between the cities in Germany, but in general if the apartment is in a descent condition about 700 - 1000 €.


User currently offlineOly720man From United Kingdom, joined May 2004, 6688 posts, RR: 11
Reply 10, posted (7 years 10 months 3 weeks 1 day 19 hours ago) and read 2495 times:

Mortgage that'll top £500/month if there's another interest rate rise.


wheat and dairy can screw up your brain
User currently offlineBill142 From Australia, joined Aug 2004, 8440 posts, RR: 8
Reply 11, posted (7 years 10 months 3 weeks 1 day 19 hours ago) and read 2491 times:

Currently free loading off my mother. Would like to buy rather then rent, but at the moment the sums simply don't add up.

User currently offlineMiamiair From , joined Dec 1969, posts, RR:
Reply 12, posted (7 years 10 months 3 weeks 1 day 18 hours ago) and read 2484 times:

I own mine. The problem home buyers here in Florida face now is the taxes. I pay taxes on the assessed value (usually less than the sale price). People buying homes now must pay taxes based on the sale price. This makes your tax bill a lot higher. If I was to sell my house and buy another one, I would be screwed into paying higher taxes unless I bought a two room cardboard box under a bridge.

As to the mortgages, one of my co-workers just told me about a forty year mortgage...talk about paying interest over time...The norm is a 15 and 30 year mortgage.


User currently offlineKazzie From , joined Dec 1969, posts, RR:
Reply 13, posted (7 years 10 months 3 weeks 1 day 18 hours ago) and read 2479 times:

I live with my mum still.

Things are great now, She pays half the rent I pay the other, She has her new car I have mine, we split the shopping and im hardly at home now! Couldnt ask for more!

 Smile


User currently offlineSunshine79 From UK - England, joined Jan 2006, 1759 posts, RR: 30
Reply 14, posted (7 years 10 months 3 weeks 1 day 17 hours ago) and read 2458 times:

I rent at the moment. I pay 250 euros per month and that includes the bills. I share a three bedroom apartment with another woman (now my drinking partner) I have a bus stop and supermarket around the corner from me and it's 20 minute walk into the centre of Benidorm. With the price of property in this area, I highly doubt I will ever be able to buy anything (apart from a tent!)


Formerly alcregular, Why drive when you can fly?
User currently offlineCoal From United States of America, joined Aug 2006, 2005 posts, RR: 9
Reply 15, posted (7 years 10 months 3 weeks 1 day 16 hours ago) and read 2447 times:

I rented an apt for the past 4 years (college). Right now living with parents until November. From then on the company I'll work for will pay for my apt's rent for three years. Funny thing is I have never paid a monthly rent in my life.

Coal



Nxt Flts: VA SYD-CBR-SYD | VA SYD-OOL-SYD | JQ SYD-MEL | VA MEL-CBR-SYD | DL SYD-LAX-ATL-MIA | B6 FLL-DCA-BOS | DL BOS-L
User currently offlineJGPH1A From , joined Dec 1969, posts, RR:
Reply 16, posted (7 years 10 months 3 weeks 1 day 16 hours ago) and read 2445 times:

I am a rental,

Signed

Cornish


User currently offlineJGPH1A From , joined Dec 1969, posts, RR:
Reply 17, posted (7 years 10 months 3 weeks 1 day 16 hours ago) and read 2441 times:

I am renting a flat at the moment, in hindsight I should have bought somewhere when I moved to France, but the prices are silly now, so too late. At least I don't have huge debts though, and after all, what do I need to own property for ?

User currently offlineCarmenlu15 From Guatemala, joined Dec 2004, 4756 posts, RR: 31
Reply 18, posted (7 years 10 months 3 weeks 1 day 15 hours ago) and read 2422 times:

Neither, I still live with my parents.

But if you insist... The house is owned, but we're still stuck with the mortgage. However, if you want to get a better idea of the situation by country, I'd say the majority of people here rent their places rather than owning them.



What do I know, I'm just an 'immature troublemaker with only a passing interest in aviation' (or so they say)
User currently offlineLHMARK From United States of America, joined Jan 2000, 7255 posts, RR: 47
Reply 19, posted (7 years 10 months 3 weeks 1 day 15 hours ago) and read 2419 times:

I've owned my townhouse since 2000. It's vastly better than renting. For the same monthly outlay, perhaps a bit less, I've built up a tidy chunk of equity.


"Sympathy is something that shouldn't be bestowed on the Yankees. Apparently it angers them." - Bob Feller
User currently offline777DadandJr From United States of America, joined Feb 2005, 1516 posts, RR: 12
Reply 20, posted (7 years 10 months 3 weeks 1 day 13 hours ago) and read 2397 times:

Quoting Cxsjr (Thread starter):
So, do you own your home or do you rent?

I own my home. Bought in 1992 for $77,000US. Current value is $170,000US.
My mortgage is $723.00US/month and I have 5 years to go.

Quoting Cxsjr (Thread starter):
Also, out of interest, what kind of monthly rent would you expect to pay for a 2 bedroom apartment within 10km of larger city centres in a decent location?

In this area, a 2 bedroom apartment averages around $600.00US. I don't consider my town as a "large urban center."

It's amazing though how housing prices vary so wildly. For eaxample, my parents, who live outside of the Baltimore area, own a 40 yr old, 3 bedroom, 2 1/2 bath rancher, on 1/4 acre lot in a nice mature suburb. Those homes sell for around $375,000US, currently.
Where I live, in York, Pa, (only 50 miles from my parents) the same house would sell for less that $200,000.
Rents in my parents area range from $800/mo to $1500/mo. That, to me, is pure insanity!

Russ



My glass is neither 1/2 empty nor 1/2 full, rather, the glass itself is twice as big as it should be.
User currently offlineDtwclipper From , joined Dec 1969, posts, RR:
Reply 21, posted (7 years 10 months 3 weeks 1 day 13 hours ago) and read 2384 times:

I built a house in '99 and will own it outright sometime in the next 20 years.

User currently offlineSean377 From United Kingdom, joined Mar 2001, 1225 posts, RR: 41
Reply 22, posted (7 years 10 months 3 weeks 1 day 13 hours ago) and read 2383 times:

Homeowner here.

If you can afford to rent, then you should be able to afford a mortgage.

The biggest problem these days is getting a mortgage in the first place, given the deposit needed. 100% mortgages (and higher) are available and are worth considering if you can afford the monthly repayments. As LHMARK says, you'll quickly (the way things are going) build up a nice equity.

Rent, and someone else gains at your expense.



Flying is the second greatest thrill known to man... Landing is the first!
User currently offlineIFEMaster From , joined Dec 1969, posts, RR:
Reply 23, posted (7 years 10 months 3 weeks 1 day 13 hours ago) and read 2379 times:

I own a 4 bed detached, purchased for $275,000, now valued at $600,000. Mortgage payment is $1627 a month. Cheap, considering the house opposite, which is similar in size to mine, rents for $2200 a month.

Property prices are starting to dip here, so I'll be selling up soon and possibly moving to Washington, where I should be able to own without a mortgage.


User currently offlineA332 From Canada, joined Feb 2005, 1644 posts, RR: 2
Reply 24, posted (7 years 10 months 3 weeks 1 day 13 hours ago) and read 2373 times:

I've owned my house for 2 years now, and buying a house in Calgary at that time was a smart investment, my paltry $200K commitment is now worth $400K...

I got sick of renting... now I'm the landlord. I have 3 roommates living with me which makes it a good deal for all... I pay like nothing, they pay very little, and they will be here for a long time... it's a win/win all around.



Bad spellers of the world... UNTIE!
25 Post contains images RobertNL070 : Own two houses. One co-owned in The Hague with mortgage, and one small apartment in Andalucía, mortgage paid off. Between 2nd and 27nd October I'll b
26 IFEMaster : Currently 2.9% capped over 15 years. Yes, there is tax relief.
27 Falstaff : I used to rent my house (2000-2004) in the summer of 2004 I bought it. $868 per month...
28 MD-90 : Until you pay off the mortgage, you're still renting, just from the bank, not a landlord.
29 Post contains images CPDC10-30 : Not if you are relativley new to the country though. I won't be eligible for a mortgage for at least a couple of years (they don't count Canadian cre
30 Dtwclipper : True to a certain degree, however as your property appreciates in value you have made money, something you are not doing with a rental.
31 Post contains images Cxsjr : That's wicked when he's banned and can't possibly defend himself .... funny though!
32 777DadandJr : I disagree. If you are renting, when you leave, you walk away......with nothing. When you own your home, and have paid your mortgage in full, you can
33 Cxsjr : Sorry Sean but you're not really correct there IMHO .... Interest rates are on the up now. I could've afforded to buy but right now, the apartment we
34 Cxsjr : We just moved from a one bedroom in Manchester city centre @ £900 a month unfurnished. Now in a 2 bedroom a month 6 miles from town at £650 and a m
35 Thom@s : Rent an appartment in Førde, Norway where I work. About 50m2. with a 5 min drive to the town centre. I pay roughly £300 a month, and that includes e
36 Bushpilot : I rent the house that I live in. Its two bedrooms on about an acre, rent is $900 plus utilities. Not a bad deal where I live. Has a steambath outside,
37 Post contains images Banco : I'd have thought choosing the time he can't defend himself is exactly the moment to attack him, wouldn't you? No doubt he'll be sending me a grumpy e
38 BigOrange : I own my house with a mortgage of about $1400 a month. Previously rented an apartment for a year and couldn't wait to get out of the scummy complex!
39 AndesSMF : Own. Bought in 2003 as prices were starting to skyrocket. Have good equity on it but we dont plan on moving anytime soon. For the apartment, I would a
40 TNNH : Renting a 1br apartment on the 17th floor of a bldg in Midtown Manhattan for $2780/month with a roommate. He pays 1540 and I pay 1240 (I live in a roo
41 Sean377 : That's why I put the word should in italics. Of course it depends on the individual circumstances, and there are so many variables. But I agree with
42 Post contains images Cxsjr : Can't he be banned from sending emails for two weeks too? I guess I'll be getting one too for daring to suggest the attack was funny!
43 Post contains images JGPH1A : That's the best time - slag them when they're down ! This will teach him a lesson far more than a mere banning, and will serve him right for emulatin
44 Banco : An understandable error. I believe he first asked what your rate was, and promptly doubled it. How was he to know that said moderator liked the grime
45 Post contains images JGPH1A : The difference you see is quality. Like full service vs no-frills (although anyone who's seen Cornish in his Vivienne Westwood basque would retain an
46 Post contains images Cxsjr : .... but only Mum's go to Iceland; where do Daddies go?
47 Post contains images Banco : Cornish is a Daddy? God, how pissed did he get that night?
48 Post contains images PlymSpotter : I currently rent a room in a flat in Birmingham, it works out at about £60p/w and thats including all utilities bills and the like, not in a great ar
49 Post contains images JGPH1A : Must...bite...tongue ! Maybe in certain very specific sub-cultural sense
50 Post contains images Banco : Obviously, I don't understand this reference...
51 Post contains images Cxsjr : .... I think you mean subterranean?
52 JGPH1A : Subterranean, substandard and sub-judice !
53 Post contains images Cxsjr : Enough! Life will not be worth living in a weeks time! He's watching and he will be back ....
54 JGPH1A : You clearly confuse the ability to slag effectively with actually BEING a slag. Let him do his worst, I am unafraid !
55 A332 : No you're not... it's totally different. You can do whatever you want to the house to customize it to your tastes, you can have roommates living in i
56 MD-90 : No one makes money on a house unless you're a landlord and the rent covers the mortgage (if any) and management/upkeep costs. You can also get lucky
57 Aaron747 : There's absolutely no point to owning a home in Japan. Prices never appreciate because most Japanese people see no value in old buildings. Thus we ren
58 TuffGong : well i haven't officially moved out of the parents house, but I have purchased my first condo. It's not completed yet (occupancy around feburary), I h
59 Gilligan : Not necessarily true. When I was in radio I was moving every year to year and a half. It would have been silly for me to buy at that stage in my life
60 Saxdiva : Um, I can't agree with that. The value of our house has more than doubled in the last eight years, and we now have a fixed-rate mortgage that I don't
61 Post contains images Jkw777 : Living with my parents! Cheap as sin and I'm free to come and go as I please as long as I don't get in their way too much. Cheers, Justin
62 Sean377 : While I agree with your comments about your situation (and a tad jealous - wish I didn't have a mortgage), I don't see the connection with my comment
63 Post contains images TransWorldSTL : I just started renting.. An apartment that is.. with my boyfriend.
64 MD-90 : Gee, can someone say "bubble?" If you sell your house and cash out and move somewhere cheaper, maybe that "value" will do you some good. My parents g
65 Banco : And this is always the problem. House prices in the UK have rocketed over the last 15 years, but it's pretty meaningless unless you are at retirement
66 JGPH1A : My brother did the same thing, he moved from Massachussetts to North Carolina, and for the price he sold his MA house, he had built a massive barn of
67 Gregtx : Me and my buddies (three other friends from school) have 11 houses and townhouses in central Houston. Believe me, you couldn't be further than the tr
68 Post contains images RobertNL070 : Banco remarked that house prices in the UK have skyrocketed in the last 15 years, and the same is true of The Netherlands. Well maybe not skyrocketin
69 Banco : It depends on how you look at it. First of all I have absolutely no intention of making money on the house I rent out, because I'll pay tax on it. So
70 Raffik : My house cost £295,550 4 years ago- I had it valued at £395,000 last year. Lots of work done to it, and rising house prices everywhere. I have a £3
71 AndesSMF : I know several people with less than half a brain, and those are typically the ones who get hurt trying their hands at RE investment. The problem wit
72 AirworldA320 : After my divorce 6 months ago bought a 18 month old 2 bedroom Mews style house for £115,000, next door (which is exactly like mine) is now on the mar
73 Oneworldman : I own my house. We bought it a couple years ago for $400,000. Our Mortgage is $2500 a month. It is now worth $470,000. Living in the NYC area means th
74 Gregtx : "Flipping" is different than investing. And subject to speculatioin laws, etc in many states where real estate is appreciating at phenomenal rates. S
75 AndesSMF : Thank you, I will now use the correct words to show the difference between RE investment and 'flipping'. And you are right, there is a difference.
76 Gilligan : In my previous situation if I had bought and sold a home every year of so I probably would have lost money simply through transactions. That's not to
77 Post contains links MD-90 : When people make statements like that, it's probably a bubble. But I'm happy for your success. Real estate is an excellent investment if you put in e
78 MD11Engineer : Currently I'm renting a huge farmhouse including a converted barn, which I use as a hobby machine shop,and a big garage in a village near HHN. The hou
79 QR332 : We rent our house here in Qatar and own our apartment in Jordan.
80 ManuCH : Currently I live in a 3 bedroom 100 sqm apartment which I rent for $1350/month. To answer Cxsjr's question, a 2 bedroom apartment within 10km of a cit
81 B6sea : Well, since I live with my mom, who owns I technically don't own anything or pay rent. However, I know we paid $320,000 for our 2,100sq. ft. house in
82 Petertenthije : I rent a room in a "student flat". My room is 4x4 metres and costs 270 euro including electricity and water. Bathroom (2x) and kitchen are shared betw
83 Post contains images Skidmarks : I have a mortgage. When I bought this house in June 2000 it cost £89K. I had an endowment mortgage and that was going nowhere. I remortgaged several
84 Gregtx : I'm fully aware of the difference between the two. I have plenty of expert advice--from brokers, bankers, and developers. Houston has been the most u
85 Allstarflyer : Thankfully, fortunately, I own my place (still paying the mortgage and will be for a bit). A friend of mine in the past once told me that people get i
86 Post contains images RobertNL070 : What??? In Den Bosch??? € 93,000.-- would buy you something in the order of a 55 square metre one-bedroom flat in The Hague in the 'outer city cent
87 Post contains links Petertenthije : Serious! Check here if you want: http://www.funda.nl/koop/detail_over...sfPlaatsID=5963&searchmode=normaal
88 JCS17 : I live with my mom. Signed, AA61hvy
89 ScarletHarlot : We own a house about 40 mins outside of Seattle proper. We have 2/3 of an acre, 3300 square feet. It's kinda big for two people, but we love the neigh
90 AA61Hvy : Great work...Considering you live at home too, idiot...Graduate college in under 4 years then we will talk...
91 B6sea : Depending on where in K-town it is now it's probably more like $500,000 or $600,000 at least. My friend who lives west of Market Street's parents bou
92 AndesSMF : With the current deflating home price bubble, I highly doubt those are the current actual valuations of those houses. After all, your house is worth
93 Post contains images RobertNL070 : Wow! Just enough room to swing a cat there. And for € 93,000.-- !! I doubt if it will sell for that price. Recently I bought a grachtenpand in Den
94 Post contains images Skidmarks : Get it in while you can then Robert! I imagine there would be several A.netters who would LOVE to live that close! Andy
95 Post contains images RobertNL070 : No thanks. I'm not of that ..ehm.. persuasion.
96 Post contains images RobertNL070 : On a serious note, isn't it the banks' job to assess prospective clients before bestowing them with (steep) mortgages?
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