Rent? Or buy?

I wish you all the luck in the world with moving out. I hope it is a smooth transition for you. Keep us posted.
 

Blaze Duskdreamer said:
No one mentions that rent always goes up, that landlords can ignore requests for repairs until you threaten them with code enforcement, that after a couple of years, they take you for granted, that you have to live by their rules, and the cost is a wash between the twoplaces. Whatever you can't do for yourself in your own home, you can hire someone to do. It's not simple but really it is the case. Landlords rent to make money. Your rent exceeds maintenance and taxes and insurance that they pay. Leases are almost stilted against you. I am disabled and as I turn 57 will also be house-hunting for the first time. I realize I'm taking on a lot and that I cannot do the work myself. It will still, in the end, be mine. Taxes and insurance and utilities and any work needing to be done will go up but the mortgage won't.

My lease said they had to give me 90 days notice if raising the rent. They did not honor that and gave me 60. I am not fighting it because they're letting me go month to month. My daughter's car is in danger of being towed whenever she is here because they are that finicky about who parks here so it's risk a tow in the building lot even though I don't drive, don't own a car but excuse me, aren't I paying the same rent as everybody else and therefore as entitled to a parking space as them but she has to risk tow or a fine on the street coming to help her disabled mother out. I get a house, she can park in my driveway and neither of us will be worrying about her car. I do not expect it to be easy but it is still better and, yes, I can leave it to her or my grandson or both. Wish I had bought years ago but the opportunity is only just presenting itself. They can enter THEIR house with 24 hours notice or less if they deem it an emergency and nothing you can do about it.

I have to endure an inspection in January and hope they don't decide to give me a hard time over some trivial piece of b.s. because they can, because I live at their mercy. My place is clean. I'm neat. I call for maintenance problems. But they can take offense at any whim and I swear the building manager is bi-polar. Love her when she's having a good day but when she's having a bad one, look out because she will take offense over nothing and this is the best apartment I have ever lived in. Because someone else burned their dinner, fire alarms went off all over the place and we had to dump out on the lawn in the cold December weather while the fire department checked it out. You have continual noise of people you share walls, floors and ceilings with, fighting, making love, hitting their kids, kids screaming uncontrolled. I am not allowed to take down the hideous Venetian blinds and put up something prettier and easier to care for. I can cover the inside with drapes but I'd better make damned sure the rod is in the dry wall and not the woodwork. I cannot put up the easy up and down paper blinds that come in such designer styles now and are so much prettier and don't collect dust because it's not allowed. Owning is freedom -- pure and simple. Freedom comes with a price but it is still freedom. I am SO doing it even if everyone thinks I'm crazy. Well, everyone older. The young people seem to think it's a great idea and I'll be happier in my own home. So do I.

Last but not least, it'll be MINE. I will not be living at someone else's whims and mercy. And in four years, my housing expense won't be 25% or more higher than it is now. Rent is raised as high as they can get away with every year and the longer you're there, the more they think you will be reluctant to move and the more they think they can get away with upping it while giving you a harder and harder time with making repairs. I know. I've been renting for 39 years. You have to keep moving to avoid this nonsense and it does no good to point out their ads about their starting rents. You are not starting. So you either move or pay the inflated rent. It always winds up where it's cheaper to move even when you add in the cost of movers and new security utility deposits. You may get your security deposit back but most likely, you'll have to take your landlord to court to do it or they'll just offer it back with bogus deductions for made-up b.s. and you'll take it because it's just not worth the hassle.

Landlords are, frankly, all ... well, I'm not sure of the language restrictions of this forum so I'll just say Ebeneezer Scrooges and not something that starts with an a. They just want to collect the rent and do not want to work for it. I want my own house; I want to be in control of my HOME.
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You really seem to have it in for land lords. Of course rents will always go up, just like the land lords costs go up. I think you should consider another apartment rental rather than buying a home. Property taxes go up on a home and so does home owners insurance and maintainence repairs, utility costs, naughty greedy tax assessors, insurance companies, etc You can always leave your daughter the money that you would use as a down payment on a home.
 
Lon said:
You really seem to have it in for land lords. Of course rents will always go up, just like the land lords costs go up. I think you should consider another apartment rental rather than buying a home. Property taxes go up on a home and so does home owners insurance and maintainence repairs, utility costs, naughty greedy tax assessors, insurance companies, etc You can always leave your daughter the money that you would use as a down payment on a home.
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agree. I rent from a real estate co and have no problems with them. they have to pay real estate tax's like anyone. and they insure the properties. my rent went up 15 bucks for next year. when i owned tax's and insurance were going thru the roof. that's one of many reason's ill never own again. its saving us big bucks to rent
 

Lon said:
You really seem to have it in for land lords. Of course rents will always go up, just like the land lords costs go up. I think you should consider another apartment rental rather than buying a home. Property taxes go up on a home and so does home owners insurance and maintainence repairs, utility costs, naughty greedy tax assessors, insurance companies, etc You can always leave your daughter the money that you would use as a down payment on a home.
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Of course, all that goes up. My point was that rental properties -- real estate agent -- and I'm in a luxury apartment and not for the first time; I've lived in one celebs have lived in though this one isn't quite that high end -- private owner or complex are a BUSINESS. They exist only to make a profit. Whatever those expenses are will always -- always -- be more for the renter than the home owner. Don't have to act like I'm stupid.

I also don't understand the assumption that if I own real estate, I won't be leaving my daughter (and grandson) anything, not that I'm obliged to, quite frankly.
 
Blaze Duskdreamer said:
Owning is freedom -- pure and simple. Freedom comes with a price but it is still freedom. I am SO doing it even if everyone thinks I'm crazy. Well, everyone older. The young people seem to think it's a great idea and I'll be happier in my own home. So do I.

Last but not least, it'll be MINE. I will not be living at someone else's whims and mercy. I want to be in control of my HOME.
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I hear you loud and clear, and I certainly don't think you're crazy! I grew up living in an apartment, and we lived in a few apartments before we were married and could afford to buy our own house. Our mortgage is paid for and the thought of ever having to live in a rented apartment/townhouse/condo just makes me cringe. I like to be in control of my home, and not rent a cubicle from someone who has complete power over me. For some it's acceptable, but I'm not one of them. Even if my husband passes before I do, I intend to do everything I can to remain in our home and live out the rest of my life.
 
SeaBreeze said:
I hear you loud and clear, and I certainly don't think you're crazy! I grew up living in an apartment, and we lived in a few apartments before we were married and could afford to buy our own house. Our mortgage is paid for and the thought of ever having to live in a rented apartment/townhouse/condo just makes me cringe. I like to be in control of my home, and not rent a cubicle from someone who has complete power over me. For some it's acceptable, but I'm not one of them. Even if my husband passes before I do, I intend to do everything I can to remain in our home and live out the rest of my life.
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Exactly. My daughter is in a stand-alone home now and neither she nor my grandson ever want to go back to apartments. My grandson says matter of factly that owning is always better than renting. At 11, he already knows this. If you own, you invest in yourself; if you rent, you line someone else's pockets and never have a guarantee of keeping that roof no matter how good a tenant you are. In almost every state, there are legal reasons they can put out even the best tenant. It might take effort and a court battle (depending on where you live) but this is America and no one has to continue to rent what they own to you.
 
We never had any issues with landlords to speak of, but putting that aside...there's nothing like the feel of living in a home on a plot of land that you own. I wouldn't even live in one of those Home Association neighborhoods, where they tell you what you can or can't do with your home.

I respect city codes of course, regarding lawn maintenance (no 6' weeds), or 12' fences...but that's just lawfully abiding by all codes put out by city/suburb gov't. Don't have an issue with that. If I could, I'd rather live on 50 acres away from any restrictions, but that's not reasonable in our situation. I hear of some tenant/landlord issues on radio shows, and the tenant is not always the bad guy, but the victim of circumstance.
 
Blaze Duskdreamer said:
Of course, all that goes up. My point was that rental properties -- real estate agent -- and I'm in a luxury apartment and not for the first time; I've lived in one celebs have lived in though this one isn't quite that high end -- private owner or complex are a BUSINESS. They exist only to make a profit. Whatever those expenses are will always -- always -- be more for the renter than the home owner. Don't have to act like I'm stupid.


I also don't understand the assumption that if I own real estate, I won't be leaving my daughter (and grandson) anything, not that I'm obliged to, quite frankly.
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i'm sure you are not stupid, you are just not making any sense. What's wrong with apartments being run as a business and making a profit? The real estate company and agent certainly make a profit when they sell a property. You mentioned that if you owned a home you could leave it to your heirs if you wished as opposed ro living in a apartment. My point was that if you lived in an apartment and died you could leave the money that you would have used as a down payment on a home. Are we communicating?
 
Lon said:
i'm sure you are not stupid, you are just not making any sense. What's wrong with apartments being run as a business and making a profit? The real estate company and agent certainly make a profit when they sell a property. You mentioned that if you owned a home you could leave it to your heirs if you wished as opposed ro living in a apartment. My point was that if you lived in an apartment and died you could leave the money that you would have used as a down payment on a home. Are we communicating?
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I think not. Real estate is more valuable than cash actually as far as leaving an inheritance for my offspring not that I'm obliged to leave them anything though it would be nice to (and they will be). My point was that it's not a good argument to say that it costs more to own as if you rent, you're paying what it costs them to own what you're renting in addition to whatever profit they deem they can make over and beyond the cost of owning. If anything, it's a wise and you're enriching yourself as you gain equity; not someone else. People don't rent to not make money; it is a for-profit business with rare exception. What makes you think there'd be no money to leave them if I owned? You make assumptions.
 
Blaze Duskdreamer said:
I think not. Real estate is more valuable than cash actually as far as leaving an inheritance for my offspring not that I'm obliged to leave them anything though it would be nice to (and they will be). My point was that it's not a good argument to say that it costs more to own as if you rent, you're paying what it costs them to own what you're renting in addition to whatever profit they deem they can make over and beyond the cost of owning. If anything, it's a wise and you're enriching yourself as you gain equity; not someone else. People don't rent to not make money; it is a for-profit business with rare exception. What makes you think there'd be no money to leave them if I owned? You make assumptions.
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You are right, we are not communicating. Real estate is not more valuable than cash. I never said it was cheaper to rent than to own. In my case it is cheaper. The interest on the $400,000 dollars that I received on my residence earlier this year is more than sufficient to pay for the rental of my very nice apartment, even if they kick the rent up quite a bit. Real estate is certainly a good investment if purchased wisely and for the right reason, but on the negative side it is considered not a liquid investment like cash, stocks, CD's etc. I have owned five homes in my adult life and made a nice profit on each one when sold, but there is a time to rent and a time to own and as they say "Different strokes for different folks" The last time I rented a apartment was as a married student with one child and I was in my 20's. Talk to the folks that have gone through FORECLOSURE in the past few years about their EQUITY??
 
I think we should remember that senior forums are not all at the same stage in life. I am in my 70s and feel that
I am approaching the time when I may need to sell my house and move into a retirement community. I enjoy going out to eat, golfing, movies and so on. I don't want to take care of my home anymore. I know I need to live near my daughter so she doesn't have to worry about me. I live in a good neighborhood and love my garden home, but I am tired of the upkeep. I can tell that my health is not good.
My children have homes and have good jobs, so I don't need to worry that they need what little I have. I plan on enjoying myself, but not rely on their having to support me so I have to be money wise.
 
charlotta said:
I think we should remember that senior forums are not all at the same stage in life. I am in my 70s and feel that
I am approaching the time when I may need to sell my house and move into a retirement community. I enjoy going out to eat, golfing, movies and so on. I don't want to take care of my home anymore. I know I need to live near my daughter so she doesn't have to worry about me. I live in a good neighborhood and love my garden home, but I am tired of the upkeep. I can tell that my health is not good.
My children have homes and have good jobs, so I don't need to worry that they need what little I have. I plan on enjoying myself, but not rely on their having to support me so I have to be money wise.
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Things are the same with me, Charlotta, I am really tired of trying to keep up the maintenance of this place. My granddaughter has mentioned building out here on my land and they could be company as well as help....so anyway, I have some serious decisions to make in the near future.
 


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