Miamiair From , joined Dec 1969, posts, RR: Reply 12, posted (7 years 2 months 4 weeks 1 day 15 hours ago) and read 2269 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.
Sunshine79 From UK - England, joined Jan 2006, 1759 posts, RR: 32 Reply 14, posted (7 years 2 months 4 weeks 1 day 14 hours ago) and read 2243 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!)
Coal From United States of America, joined Aug 2006, 1773 posts, RR: 6 Reply 15, posted (7 years 2 months 4 weeks 1 day 13 hours ago) and read 2232 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.
JGPH1A From , joined Dec 1969, posts, RR: Reply 17, posted (7 years 2 months 4 weeks 1 day 13 hours ago) and read 2226 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 ?
Carmenlu15 From Guatemala, joined Dec 2004, 4747 posts, RR: 33 Reply 18, posted (7 years 2 months 4 weeks 1 day 11 hours ago) and read 2207 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.
Being a pioneer in any field is not by itself a guarantee of continued success - Pan Am, anyone?
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.
Sean377 From United Kingdom, joined Mar 2001, 1225 posts, RR: 44 Reply 22, posted (7 years 2 months 4 weeks 1 day 10 hours ago) and read 2168 times:
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!
IFEMaster From , joined Dec 1969, posts, RR: Reply 23, posted (7 years 2 months 4 weeks 1 day 10 hours ago) and read 2164 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.
A332 From Canada, joined Feb 2005, 1644 posts, RR: 2 Reply 24, posted (7 years 2 months 4 weeks 1 day 9 hours ago) and read 2158 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 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 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 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 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 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 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 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 Cxsjr: .... but only Mum's go to Iceland; where do Daddies go?
47 Banco: Cornish is a Daddy? God, how pissed did he get that night?
48 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 JGPH1A: Must...bite...tongue ! Maybe in certain very specific sub-cultural sense
50 Banco: Obviously, I don't understand this reference...