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My thoughts on renting versus buying

milesbarr.me

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Re: My thoughts on renting versus buying

#181

Post by mnky9800n »

wavemode wrote: post #80
kibwen wrote: post #15

> The Flexibility of Renting Is Undervalued And the stability of buying is undervalued. It's telling that this article frames housing as an investment vehicle rather than as a basic necessity. And it's not just a necessity because it shelters you from the elements and gives you storage for your stuff; it anchors you in a neighborhood and allows you to begin forming a local community. The flexibility of renting that t…

I don't know many homeowners who formed "local communities" with their neighbors. I know a few, but not many. And I know renters who know all their neighbors well. Seems more like a personality trait than something enabled by owning where you live.

My building has a building association and we have meetings and also group events. When we were robbed our neighbours were there to help us. I definitely feel part of my community in my building. I think partly it is Dutch culture. I didn’t feel welcome at all by my neighbours in Norway in any of the neighbourhoods I lived in. I don’t think it’s just a personality thing.

Re: My thoughts on renting versus buying

#182

Post by Aeolun »

bdangubic wrote: post #108
firecall wrote: post #82

Earlier quoted context omitted.

Absolutely agree with this! We need, as a society, to bring back generational communities. Our workplaces are not our families! I'll also add, that once you have children, owning your home is a very welcome level of stability. Nothing worse than looking for a new rental and potentially being forced to upend all your routines and find new schools for the kids as you cant rent in the same area anymore!

I know three families that owned and had to move cause they could not afford to live in the house they own (gerrimandering- related…) owning does not shield you from shit like that, maybe in rural america but definitely not in/around the cities

It would help if they didn’t buy a home that required them to sustain the same level of income indefinitely? I certainly didn’t buy the largest I could afford.

Re: My thoughts on renting versus buying

#183

Post by Esophagus4 »

carlosjobim wrote: post #143
Esophagus4 wrote: post #131

Earlier quoted context omitted.

Too hand waivey and doesn’t tell the whole story - even with the carry costs “baked in”, renting is generally cheaper in the short run because those costs are lower anyway. > Average rents are cheaper than average mortgage payments (homeowners insurance and property taxes included) in all 50 of the largest U.S. metros in 2025, with the cost difference between the two growing in all but 12 of those metros since last y…

> Average rents are cheaper than average mortgage payments The average mortgage is for a family, the average rent is for a broke young worker or student living in a much smaller and worse accommodation. Renting is always more expensive than a mortgage for the same housing unit, because the landlord needs to make a profit from his tenants. Cooking the numbers won't change reality. The truth beats all the lies, no matt…

The median renter is 42 years old.

Even a basic Google search would have saved you needing to post that comment.

[1]https://www.zillow.com/research/renters-housing-trends-repor...

Re: My thoughts on renting versus buying

#184

Post by pton_xd »

> People rarely buy with a purely rational investment mindset; they buy based on lifestyle and emotion.

> If you bought a home equivalent to the apartment you’d rent, or a slight downgrade, you might come out ahead financially over five years.

This is really the key point. Everyone I've known personally who buys a home does so with the intent to "upgrade" their lifestyle. Even if they were perfectly content before in their 1000 sq ft 2 bedroom apartment, they aren't content purchasing the same size home. Instead they upgrade to a 1700 sq ft 3 bedroom home, or larger, because after all owning a home is supposed to feel better than just renting an apartment. In financial terms, they are worse off, but maybe they are happier with their spending (I'd hope).

Re: My thoughts on renting versus buying

#185

Post by xtiansimon »

Well. Lots of ideas there. But I just bought into a Coop because my rent went up 40% in one year. Since 2015 rents have gone up something like 50%. My experience says it’s true.

Now as an owner (of shares) I’m pegged to my mortgage (fixed) + HOA (and their scheduled increases) for the next 30y (if I choose). That’s something.

The thing about renting is, unless you’re in rent-controlled district, it can go up any amount. And in my experience, what’s advertised is always more than what you’re paying.

Re: My thoughts on renting versus buying

#186

Post by oblio »

PlanksVariable wrote: post #160
bdangubic wrote: post #103

Earlier quoted context omitted.

100% this - it is exception, small exception that communities can be formed with neighbours. take home-owners associations into the equation and there is higher likelyhood you’ll punch someone than have a beer with them

0% this - neighborhoods with single family homes are more likely to have families, and kids often create friendships that carry over to parent friendships. And if anybody in the neighborhood takes the initiative to plan block parties, dinner parties, etc., that really helps a community take root. This just doesn't happen as often with apartments, where people are more transient and more likely to be single and/or chi…

Only in places with non family friendly apartments.

80% of Eastern Europe, for example, would disagree with you.

Re: My thoughts on renting versus buying

#187

Post by cramsession »

pton_xd wrote: post #184

> People rarely buy with a purely rational investment mindset; they buy based on lifestyle and emotion. > If you bought a home equivalent to the apartment you’d rent, or a slight downgrade, you might come out ahead financially over five years. This is really the key point. Everyone I've known personally who buys a home does so with the intent to "upgrade" their lifestyle. Even if they were perfectly content before in…

If they want children, they’ll need more room. Same if you want/need a home office or to move an elderly parent in. I wouldn’t really classify those things as “feeling nice”, more going through natural life stages that renting a 2 bd may retard.

Re: My thoughts on renting versus buying

#188

Post by oblio »

al_borland wrote: post #78
bnchrch wrote: post #62

I've seen these critiques for years. and while its not necessarily wrong, I believe it under weights a few points: - Fixing your housing costs against inflation: You can't count on housing price increases, but you can count on inflation. If you buy a house and your mortgage payment is > rent. Overtime it will naturally flip. $1 no longer buys me a chocolate bar, and $800/month no longer gets me a 2 bed apartment. - L…

> No one can evict me into a hot rental market to suit their needs. The bank can, if you take out too many loans against your house that you can’t pay back. When you barrow against your house you’re increasing your risk. “Rational people don’t risk what they have and need for what they don’t have and don’t need.” - Warren Buffett My house is paid off now and I can’t think of anything that would make me barrow against…

Minor: borrow, not barrow.

Re: My thoughts on renting versus buying

#189

Post by bradlys »

I'm currently in the bay area in a 1950s home with no AC, no insulation, and single pane windows. Do you think that's what I want? No but I can't change it because that's what is mostly available on the rental market in the peninsula. If you go into buying, you can find all kinds of well appointed homes (even brand new homes). No one updates rentals here. So, at a certain point, if you want to live like you're not in the 1950s anymore (and lord knows - we are not living in the 1950s climate, holy shit it's way hotter) then you have to buy.

Re: My thoughts on renting versus buying

#190

Post by bdangubic »

com2kid wrote: post #179
bdangubic wrote: post #94

Earlier quoted context omitted.

I owned for the last 25 years (3 houses, 8, 8 and 9 years) and am very social person. I do not have a single neighbour friend in all these years. what you are describing is (in vast majority of cases especially in urban areas) just wishful thinking.

Counterpoint in Seattle - We talk to our neighbors regularly and are good friends with a few. Having kids helps.

No doubt there are many counter-points. My Godfather lives 4 miles from me and lives in a community where 3-4 of his neighbours have his house keys, take care of each other’s kids, dogs when out of town… I just don’t think - in general - that there is a statistically significant correlation between home ownership and living in a community like OP and you are describing
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