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Owning nothing is now a luxury, thanks to a number of subscription startups

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Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#161

Post by crdoconnor »

Veen wrote: post #137
gtsteve wrote: post #135

Earlier quoted context omitted.

I live in the UK. It's cheaper to buy than rent almost everywhere but I never minded that. The main thing that moved me to buy was because the protection for renters is nowhere near as good. I moved on average every 18 months for 10 years because the landlord decided they wanted to sell the place or just wanted me out so they could increase the rent. One landlord didn't even bother with that and just asked if I'd be…

> If you complain about something being broken, they might fix it or just evict you with 2 months notice. This is why you shouldn't agree to a rolling tenancy. When the initial tenancy period is over, negotiate for a year or two. Most landlords, in my experience, don't want their houses sitting empty so they're happy to have you on the hook for a year. Although, it depends where you live: I work remotely so I tend to…

Unless rents are going up (and in London they are not) I don't see how longer tenancies help you. It certainly doesn't give the landlord an incentive to fix.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#162

Post by dagw »

QuadrupleA wrote: post #43

Not sure about furniture and clothing, but Joymode sounds interesting - kitchen gadgets, game consoles, VR headsets etc. Things someone might want to try, but could just sit around unused once the initial excitement is over. REI also, for outdoor gear - I've got backpacking stuff that sits in the basement doing nothing most of the year. It's much easier to acquire things than unacquire them - selling on craigslist, c…

It's much easier to acquire things than unacquire them - selling on craigslist, carting things off to goodwill, or lugging them around during a move is a hassle.

Do you have local charities that will come and pick things up? Last time I moved and wanted to get rid of a kitchen table, some bookshelves a bunch of kids toys I just called the people running the local homeless shelter and two dudes with a truck showed up the next day a carted everything away.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#163

Post by benj111 »

dingaling wrote: post #101
chrisco255 wrote: post #26

Renting an apartment vs owning a house is not necessarily a bad financial move. Depends on a number of factors. For instance, if you anticipate moving within a certain time frame, between closing costs, mortgage fees, commission, etc...it can cost more to own in the first 3-5 years, especially if prices are stagnant. Also, there are hidden costs of home ownership not necessarily factored in for, like repairs, mainten…

> Finally, one can use the savings from paying rent What savings? Rent as you stated already includes anticipated maintenance costs, property taxes, the landlord's mortgage costs, often an agency fee, plus a margin for the landlord. I don't think I've seen rental rates ever cheaper than a personal mortgage. The main advantage of renting is avoiding long-term commitment but you'll pay a premium for that flexibility. O…

Buying a house has all sorts of costs that need to be paid upfront. If you're only staying somewhere for a year, those costs need to be accounted for in that year. Yes in the long term buying works out cheaper, not in the short term though.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#164

Post by sparkling »

adrianN wrote: post #112
Bombthecat wrote: post #100

Earlier quoted context omitted.

Never heard about the payment for streets in front of your house for example?

That seems to be a form of property tax and very different from insulating your house.

That "property tax" can - in some cases - cost you 100k Euro or more.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#165

Post by eridan2 »

dagw wrote: post #119
dingaling wrote: post #101

Earlier quoted context omitted.

> Finally, one can use the savings from paying rent What savings? Rent as you stated already includes anticipated maintenance costs, property taxes, the landlord's mortgage costs, often an agency fee, plus a margin for the landlord. I don't think I've seen rental rates ever cheaper than a personal mortgage. The main advantage of renting is avoiding long-term commitment but you'll pay a premium for that flexibility. O…

I don't know what it's like in the US, but in Sweden you can get a much better deal on your mortgage if you only have to borrow 80% of the cost of the house than if you have to borrow 95+%, even when borrowing the same amount. If you have a good job and can afford $1500/month but don't have any savings to use as a down payment on a house you're not going to able to get as nice a place buying as you will renting.

There are many places where you can't borrow 95% of the cost, or you can only with additional guarantees

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#166

Post by sametmax »

vonseel wrote: post #140
dingaling wrote: post #101

Earlier quoted context omitted.

> Finally, one can use the savings from paying rent What savings? Rent as you stated already includes anticipated maintenance costs, property taxes, the landlord's mortgage costs, often an agency fee, plus a margin for the landlord. I don't think I've seen rental rates ever cheaper than a personal mortgage. The main advantage of renting is avoiding long-term commitment but you'll pay a premium for that flexibility. O…

rental rates ever cheaper than a personal mortgage. This comparison is usually apples to oranges. For example, in Austin, a 20s-30s homebuyer may have a budget of 300-400k for a property. This amount pretty much limits the options to homes on the edge of town or in suburbs. The same person may prefer renting in or near downtown, if they aren’t buying, and that could cost just as much as a mortgage on a much larger ho…

And most people don't bave that kind of money, already have a mortage to pay and must rent anyway.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#167

Post by [deleted] »

Xelbair wrote: post #145
chrisco255 wrote: post #26

Renting an apartment vs owning a house is not necessarily a bad financial move. Depends on a number of factors. For instance, if you anticipate moving within a certain time frame, between closing costs, mortgage fees, commission, etc...it can cost more to own in the first 3-5 years, especially if prices are stagnant. Also, there are hidden costs of home ownership not necessarily factored in for, like repairs, mainten…

I completly disagree. When you are owning a house or apartment - each payment of mortgage builds your own equity. This is not the case with renting, plus when you actually own it and have to move - you can also rent it. Also, rent over here costs almost as much as mortgage(or in some cases - even more) - the only issue is the down payment - so the investment bit is very off.

[deleted]

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#168

Post by Veen »

crdoconnor wrote: post #161
Veen wrote: post #137

Earlier quoted context omitted.

> If you complain about something being broken, they might fix it or just evict you with 2 months notice. This is why you shouldn't agree to a rolling tenancy. When the initial tenancy period is over, negotiate for a year or two. Most landlords, in my experience, don't want their houses sitting empty so they're happy to have you on the hook for a year. Although, it depends where you live: I work remotely so I tend to…

Unless rents are going up (and in London they are not) I don't see how longer tenancies help you. It certainly doesn't give the landlord an incentive to fix.

They already have an incentive to fix. In the UK they're legally obligated to and tenants can take them to Small Claims Court if they don't.

Periodic (rolling) tenancies can be ended with two-month's notice, so the landlord might decide to evict rather than repair. With longer tenancy agreements, the landlord can't evict until the tenancy expires, and so tenants can use their legal rights to compel the landlord to make repairs.

In short, the landlord can't kick people out as an alternative to spending money on repairs.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#169

Post by benj111 »

mehrdadn wrote: post #143
Veen wrote: post #139

Earlier quoted context omitted.

These days I tend to buy big furniture items — sofas and the like — second hand. I can't afford really high-end quality furniture new, but, if you're careful, you can find well-made furniture at low prices in charity stores. My house is furnished with a mix of crappy Ikea stuff and very nice second-hand furniture; I much prefer the latter.

> if you're careful, you can find well-made furniture at low prices in charity stores. My house is furnished with a mix of crappy Ikea stuff and very nice second-hand furniture; I much prefer the latter. But this illustrates exactly the problem. "If you're careful" -- meaning you wouldn't want the average one you see. Meaning there's going to be considerably more waste when people have to buy second-hand than if they…

"If you're careful" is reasonable. You wouldn't blindly buy a second hand car, you need to make sure the engine actually works etc. I suspect the careful in this case is avoiding said crappy Ikea stuff. That's not to say you shouldn't buy it 2nd hand, just make sure you pay an appropriate price.

Its not an either or, you can buy second hand and keep your stuff longer.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#170

Post by mehrdadn »

benj111 wrote: post #169
mehrdadn wrote: post #143

Earlier quoted context omitted.

> if you're careful, you can find well-made furniture at low prices in charity stores. My house is furnished with a mix of crappy Ikea stuff and very nice second-hand furniture; I much prefer the latter. But this illustrates exactly the problem. "If you're careful" -- meaning you wouldn't want the average one you see. Meaning there's going to be considerably more waste when people have to buy second-hand than if they…

"If you're careful" is reasonable. You wouldn't blindly buy a second hand car, you need to make sure the engine actually works etc. I suspect the careful in this case is avoiding said crappy Ikea stuff. That's not to say you shouldn't buy it 2nd hand, just make sure you pay an appropriate price. Its not an either or, you can buy second hand and keep your stuff longer.

I never said you shouldn't buy it second-hand either. Try reading the full discussion again from the top comment. It's about a different question entirely.
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