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Do You Own Or Rent Your Home?  
User currently offlineCxsjr From , joined Dec 1969, posts, RR:
Posted (9 years 5 months 5 days 17 hours ago) and read 3337 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 (9 years 5 months 5 days 17 hours ago) and read 3331 times:

Own it and don't have a mortgage.

User currently offlineBanco From United Kingdom, joined Oct 2001, 14752 posts, RR: 52
Reply 2, posted (9 years 5 months 5 days 17 hours ago) and read 3330 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 (9 years 5 months 5 days 17 hours ago) and read 3326 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.

User currently offlineZKSUJ From New Zealand, joined May 2004, 7204 posts, RR: 11
Reply 4, posted (9 years 5 months 5 days 17 hours ago) and read 3325 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, 14888 posts, RR: 60
Reply 5, posted (9 years 5 months 5 days 17 hours ago) and read 3318 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, 40298 posts, RR: 73
Reply 6, posted (9 years 5 months 5 days 17 hours ago) and read 3318 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, 5533 posts, RR: 16
Reply 7, posted (9 years 5 months 5 days 17 hours ago) and read 3316 times:

Neither. I live with my parents.

User currently offlineHAWK21M From India, joined Jan 2001, 31851 posts, RR: 54
Reply 8, posted (9 years 5 months 5 days 16 hours ago) and read 3310 times:

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

Think of the brighter side!
User currently offlineSkyman From Germany, joined May 2006, 494 posts, RR: 0
Reply 9, posted (9 years 5 months 5 days 15 hours ago) and read 3298 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, 7115 posts, RR: 10
Reply 10, posted (9 years 5 months 5 days 15 hours ago) and read 3292 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, 8499 posts, RR: 8
Reply 11, posted (9 years 5 months 5 days 15 hours ago) and read 3288 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 (9 years 5 months 5 days 15 hours ago) and read 3281 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 United Kingdom, joined Apr 2006, 1684 posts, RR: 6
Reply 13, posted (9 years 5 months 5 days 15 hours ago) and read 3276 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!


Bazinga punk.
User currently offlineSunshine79 From UK - England, joined Jan 2006, 1761 posts, RR: 27
Reply 14, posted (9 years 5 months 5 days 14 hours ago) and read 3255 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, 2431 posts, RR: 7
Reply 15, posted (9 years 5 months 5 days 13 hours ago) and read 3244 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.


User currently offlineJGPH1A From , joined Dec 1969, posts, RR:
Reply 16, posted (9 years 5 months 5 days 13 hours ago) and read 3242 times:

I am a rental,



User currently offlineJGPH1A From , joined Dec 1969, posts, RR:
Reply 17, posted (9 years 5 months 5 days 13 hours ago) and read 3238 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, 4763 posts, RR: 27
Reply 18, posted (9 years 5 months 5 days 11 hours ago) and read 3219 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.

Don't expect to see me around that much (if at all) -- the contact link should still work, though.
User currently offlineLHMARK From United States of America, joined Jan 2000, 7255 posts, RR: 42
Reply 19, posted (9 years 5 months 5 days 11 hours ago) and read 3216 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: 11
Reply 20, posted (9 years 5 months 5 days 10 hours ago) and read 3194 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!


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 (9 years 5 months 5 days 10 hours ago) and read 3181 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: 36
Reply 22, posted (9 years 5 months 5 days 10 hours ago) and read 3180 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 (9 years 5 months 5 days 10 hours ago) and read 3176 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: 1
Reply 24, posted (9 years 5 months 5 days 9 hours ago) and read 3170 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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