Quantcast

Would you be ok with renting forever?

goodgirlgonefat

Bench Warmer
Joined
May 12, 2018
Messages
4
Reaction score
Reactions
28
28
Alleybux
300
I was on of those people who was going to rent forever but I am currently looking to buy a home but honestly it has become exhausting and I am thinking about just giving up on the process. The market is TRASH (they say it’s about to get better between May and August but, who knows) I was pre-approved in February and every home I like, cash buyers come in with high offers, do not GAF if it doesn’t appraise, and win the house. ATP, it’s just easier to rent. Property taxes are hella high in Texas, and the school district I’m currently in is where I want to stay-not many homes available in the budget I have in mind (I am not going to pay more for a mortgage than I pay in rent bc, that’s the whole point of buying for ME.)

While it would be great to own a home, I’m probably going to be renting for the next few years (until my son graduates) and move back to GA and buy.
 

TGSHeaux

Team Owner
Joined
Jun 26, 2012
Messages
6,189
Reaction score
Reactions
32,126 2,641 2,419
31,512
Alleybux
630
My goal was always to have my own. It’s cheaper and more peace. At the same time just having a decent place to stay matters
 

PartyIsOver

Under The Chemtrails Over The Country Club
Joined
Aug 10, 2016
Messages
17,427
Reaction score
Reactions
117,255 5,965 738
131,452
Alleybux
804,661
They are one of the more expensive builders but I hear their quality is great. Where I live builders like Knight Homes and DR Horton are cheaper
Buy what you can afford it is extremely important these days to OWN where you lay your head at
 

Southernchic

Team Owner
OLDHEAD
Joined
Dec 21, 2005
Messages
53,563
Reaction score
Reactions
317,113 10,630 3,122
341,175
Alleybux
834,283
Buy what you can afford it is extremely important these days to OWN where you lay your head at
Yes we own a home and if we keep it, it’ll be paid off by the time I am 62 and hubby will be 65. That is perfect as it is at retirement age. We are stacking our 401k’s and one of my former employers offered a pension if you were there for at least 3 years..I rode it out for 3 years and I’ll be getting a pension. We are thinking about moving west to Cali but if we do, we will keep our house down south and rent it out. I will have to make another thread about that because being a landlord seems difficult. I always worry about getting the tenant from hell.
 

blackstarr360

General Manager
Joined
Jul 31, 2018
Messages
1,032
Reaction score
Reactions
10,800 545 117
11,050
Alleybux
22,984
I'm on the fence. I would like to own but I love in C
As a single young woman, I never saw myself buying a place by myself...HOWEVER with low ass interest rates, I was able to find a cute little condo for a really good price.

Mind you, im in expensive ass California.

My goal is to live there for the next couple years, do some upgrades and hopefully if/when I’m married..I can keep it as a rental.
please tell me how. I'm living in Southern California and I want to own but it's so expensive. I have a rent controlled apartment that I've been living in for the last six years.
 

Tanya Turner

I can only be me
Joined
Jan 21, 2010
Messages
17,683
Reaction score
Reactions
54,300 190 38
58,837
Alleybux
80,720
California being one of them, Lol. So many homes in my area have gone up, especially with people being able to work remote.

I'm in NOVA, every house is going over asking price and you have to waive all contingencies . Even with that, you will probably lose to a cash buyer who will agree to the same deal. We have a very short supply.

Which is crazy because even small sh!tty houses , are easily over $500k and they not in the best school district (this is relative, since the school in NOVA are some of the best in the country). Condos are around the same prices but the cheapest HOA is $250 a month.

I am currently investing my money, because there is currently a very short supply since people are not wanting to sell because of the instability of the world.
 

MelonJuice

Team Owner
Joined
Nov 18, 2008
Messages
5,221
Reaction score
Reactions
31,640 549 238
33,964
Alleybux
885,018
The home my husband bought 8 years ago has almost as much equity as what he initially paid for the house. We also rent this home at a profit of $500 a month.
 

NordieNARS

30’s the new 20, with more $$$
Joined
Dec 23, 2011
Messages
12,290
Reaction score
Reactions
105,119 3,541 1,534
108,836
Alleybux
1,500
No. I love the flexibility of renting, but owning is always better. Even if it’s just a small condo. Buy something!
 

anaisnin

Semi-Retired, Still Messy
Joined
Dec 27, 2013
Messages
30,548
Reaction score
Reactions
259,434 4,842 1,260
290,386
Alleybux
9,500
There’s nothing wrong with renting, especially if you live in a luxury building and have near everything taken care of for you. It makes it easier to travel for extended periods of time if you’re a bit of a nomad. Some people even live permanently in hotel apartments because having a full concierge service 24/7 is of unbelievable value. Ownership can be limiting if you need to pick up and leave suddenly for a great opportunity but you don’t own a property that’s appealing or the area, once popular, is now undesirable. Ownership is not a guaranteed high return investment, and in some geographic (affordable) areas, short of a miracle, it’s known that it won’t ever increase.

Housing isn’t affordable nor that available in large metros so you end up making sacrifices just for the sake of ownership. I know people who work in L.A. with nearly 4 hour daily commutes which is a choice I would never make when I can just rent in the city if I can’t afford it. People don’t all value the same thing equally, plus some people will simply never be able to afford it. It can take a few generations to get to that point, and even if you inherited property it may not even be worth a 1% down payment in the event it can even sell. I inherited land that isn’t worth sh!t. It’s just sitting there unexploited and unwanted because there’s nothing to be gotten there.

Everyone has to evaluate their situation and make a decision that’s appropriate for their long term needs, wants and possibilities.
 

LionessR

Team Owner
Joined
Mar 31, 2015
Messages
6,196
Reaction score
Reactions
49,674 918 242
52,827
Alleybux
295,492
I rent and live in a luxury building. I will eventually own but for my lifestyle renting has perks. I am single and go out a lot so I like having doorman to make me feel safe when I come in. I also like not being responsible for any upkeep outside of keeping my apt clean.

My mom purchased her first house when I was about 6. To me, owning done right takes a lot of money. My mom was always renovating and improving on her house. When I calculate what it takes to move, I factor in renovating, home improvements etc. So time and money. Im not ready for the type of commitment yet.

Investment is not just real estate.I will probably have two other types of investments before I add real estate.
 
Last edited:

Nameless Font

Team Owner
Joined
May 29, 2014
Messages
8,634
Reaction score
Reactions
55,016 1,460 1,070
65,840
Alleybux
314,687
But there are old homeowners who are struggling and whose roofs are caving in and they can’t afford to fix it. So essentially you have to do what’s right for you as no one knows what will happen in old age.
I think in this scenario people need to know when to sell. If it comes to the point where you can’t maintain your home for a considerable amount of time, then it’s back to renting. In cases like this, at least once you sell you have a lump sum to do something with as opposed to having the government put liens on your property.
 

SalemMo

General Manager
Joined
Dec 21, 2017
Messages
2,236
Reaction score
Reactions
8,720 129 58
9,021
Alleybux
175,062
Right now renting is fine because I'm not sure where I would like to settle. I know I want a home in the future so I can garden.
 

theprettymiss

“Beacon of Light”
Joined
Aug 12, 2016
Messages
40,815
Reaction score
Reactions
255,859 10,529 820
281,131
Alleybux
1,064,962
I'm on the fence. I would like to own but I love in C

please tell me how. I'm living in Southern California and I want to own but it's so expensive. I have a rent controlled apartment that I've been living in for the last six years.
I moved back home and stacked my coinT, Lol. Thats literally what helped me save.

I also was able to find my unit for a really good price but prices in my area are def going up.
 

Teigh

Team Owner
Joined
Jul 18, 2018
Messages
8,494
Reaction score
Reactions
54,493 909 240
73,051
Alleybux
810
I'm fine with it right now but I do get annoyed at the fact that they can come into your apt with a 24hr notice. Cali has gotten too out of control with the prices and I am not trying to be broke. The prices are just too inflated. People are bidding them up and using over 50% of their income on a home. That's way too much.
 

Observe

Hit da Gas, and be outti 5 on dey azz
Joined
Jan 25, 2021
Messages
7,594
Reaction score
Reactions
22,288 7,222 4,795
16,994
Alleybux
717,649
I don’t hate on that. You know what you want. Especially because you said you didn’t want a steady relationship.

I have a friend that is close to 50. The ladies love him. He is attractive, has the gift of gab, and has a good career and benefit package. However, he lives similar to you but is relationship minded. I once told him that if I were on the market at that age and came across a guy like him with nothing to show for his 50 something years in terms of even his own couch I’d see red flags all over the place. He got slightly offended but we are good.

But again, he is looking to boo-up. You aren’t. That’s the difference.
He’s a real minimalist like me so we don’t need all those necessities everyone has so maybe he’s living out some of his dream , talk to him , he might tell you that’s how he wants his life to be
 

YuG00fytho

Team Owner
Joined
Mar 23, 2021
Messages
12,255
Reaction score
Reactions
47,940 4,377 2,563
45,403
Alleybux
395,000
Bish what? Duh I know that didn’t I mention in my original post that my cousin said she is fine if she has to rent forever in la. I work in the mortgage industry. I know that. My question was “would you be ok with renting forever”.. In which post did I act shocked? Please take the derailing away from my thread.

"Bish" it's a stupid question, because I already pointed out that a large portion of renters dont have a choice. And you working in the mortgage industry, should already know that, you shaded yourself so I didn't have to
 

Southernchic

Team Owner
OLDHEAD
Joined
Dec 21, 2005
Messages
53,563
Reaction score
Reactions
317,113 10,630 3,122
341,175
Alleybux
834,283
"Bish" it's a stupid question, because I already pointed out that a large portion of renters dont have a choice. And you working in the mortgage industry, should already know that, you shaded yourself so I didn't have to
See yourself out this thread..it’s 9 pages and only you complained. Poor baby you must be one who cannot buy right now. It’s ok. Again something is wrong with you I asked a hypothetical question for lsa fonts to chime in on how they feel about homeownership vs renting. Now see your slow ass out. Toodles. I will no longer reply to you and you are on ignore because you are just way too ignorant
 

YuG00fytho

Team Owner
Joined
Mar 23, 2021
Messages
12,255
Reaction score
Reactions
47,940 4,377 2,563
45,403
Alleybux
395,000
Ma’am I work in mortgage lending not as an agent. Whew chile...condi where you at


I guess your ignore button broke lol

You crying to condi after you started with the little name calling is hilarious. I hope she pays you dust.

Enjoy your gifts! you are arrogant and elitist and deserve em

Yall better learn how to talk like you got some sense to people on here or you meet that font that will clown your little rude nasty ass.

The nerve of you to cry after you called me poor, b!tch, and such, FOH!
 

rayaee

Team Owner
Joined
Nov 11, 2014
Messages
23,136
Reaction score
Reactions
177,471 2,518 1,111
182,255
Alleybux
51,000
Nah I would love to own my pad. That beats having to find another place to sleep should the complex sell their land & displace residents
 

MssMoney

♡♡♡♡
Joined
Jun 30, 2020
Messages
1,505
Reaction score
Reactions
6,009 84 26
10,989
Alleybux
530
there's a reason the poor rent and the rich buy.

Sad to see so many people don't understand the difference in building equity and not throwing your money away renting.

not to mention you can always rent out your home and still rent if you want to

and having a home does not prevent you from being mobile. I know a lot of people whove bought and sold multiple properties over the years to move to different states or countries.

if you buy wisely, the way things are going you're very likely to come out with a profit on your home
I feel like a lot of people justify a certain decision just to make themselves feel better. I just keep my opinions to myself
 

Cali Gurl

Team Owner
Joined
Feb 26, 2016
Messages
7,083
Reaction score
Reactions
31,131 1,412 892
30,858
Alleybux
1,056,679
@Cali Gurl and to those who live in Cali, have you all thought about manufactured homes? They’re priced like homes down south and the mortgage on it would be much lower than rent there. They are so cute and nice too. I sent this listing to my cousin. I do wonder how durable they are in the event of an earthquake. At least you would have a fixed mortgage. I see one of them has a land lease attached to it so definitely do your research
TBH I would be worried about purchasing this type of home with how earthquake prone California is. We just moved into a new place and the rent is significantly more than what my brother and his wife pay for their mortgage in the Midwest. My only hope at this point is hitting the lottery LOL.
 
Last edited:

Anomie

Team Owner
Joined
Jun 29, 2018
Messages
17,634
Reaction score
Reactions
111,761 5,868 3,613
115,738
Alleybux
256,650
TBH I would be worried about purchasing this type of home with how earthquake prone California is. We just moved into a new place and the rent is significantly more than what my brother and his wife pay for their mortgage. My only hope at this point is hitting the lottery LOL.
also most manufactured homes you cannot own the land. ..

there are affordable places in California they're just rural
 

Cali Gurl

Team Owner
Joined
Feb 26, 2016
Messages
7,083
Reaction score
Reactions
31,131 1,412 892
30,858
Alleybux
1,056,679
also most manufactured homes you cannot own the land. ..

there are affordable places in California they're just rural
That’s the problem, yes there are more affordable places to buy houses in California, but those are so far out you would have to commute up to 2 plus hours to get in the city, beaches, etc. I can’t imagine having to move all the way out to hot ass Lancaster or Palmdale just to buy a decent house. That kind of defeats the point of living in SoCal. On a side note, I had a friend from Texas that ended up moving back because of Texas being more affordable, and she said she misses California every day and wishes she still lived here.
 

JaxRhapsody

Rhapsodic Laviathan
Joined
Jul 10, 2020
Messages
1,077
Reaction score
Reactions
1,657 121 132
1,839
Alleybux
145,181
BugsNo.jpg
 

KiranjitJackson

General Manager
Joined
Jun 14, 2011
Messages
2,386
Reaction score
Reactions
12,920 398 199
14,040
Alleybux
18,000
I wouldn’t mind renting forever lol I want a nice apartment, 2 dogs, and a partner that wants to travel. I don’t want kids and I don’t want my man to live with me either. I think if I wanted kids, I’d want to be married and own a home though.

Dogs do not belong in apartments, especially not two of them

frustrated.gif
 

Attachments

  • 1619321682418.png
    1619321682418.png
    35.1 KB · Views: 7

Teigh

Team Owner
Joined
Jul 18, 2018
Messages
8,494
Reaction score
Reactions
54,493 909 240
73,051
Alleybux
810
I'm on the fence. I would like to own but I love in C

please tell me how. I'm living in Southern California and I want to own but it's so expensive. I have a rent controlled apartment that I've been living in for the last six years.
I'm in the same situation. I live in a rent control building. The newer apartments near me would cost me 1k extra per month and a condo would be approx 2k more.
 

Teigh

Team Owner
Joined
Jul 18, 2018
Messages
8,494
Reaction score
Reactions
54,493 909 240
73,051
Alleybux
810
That’s the problem, yes there are more affordable places to buy houses in California, but those are so far out you would have to commute up to 2 plus hours to get in the city, beaches, etc. I can’t imagine having to move all the way out to hot ass Lancaster or Palmdale just to buy a decent house. That kind of defeats the point of living in SoCal. On a side note, I had a friend from Texas that ended up moving back because of Texas being more affordable, and she said she misses California every day and wishes she still lived here.
Even if my job gives me the option to WFH forever, I still wouldn't live in Lancaster/Palmdale.
 

Similar Threads

Trending Threads

News Alley

Celebrity News

Ask LSA

General Alley

Top Bottom