> I currently pay $515.50 per month for property taxes. I currently pay almost $2500/mo in property taxes here in SF (about $100/mo in parcel taxes). FML.
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The real cost of owning a home
551–560 of 901 posts
Re: The real cost of owning a home
#552Re: The real cost of owning a home
#553Earlier quoted context omitted.
Corporate apartments raise their rents in lockstep with the market, whereas at least some randos will leave it stable for some years in a row.
Also, if you're a marginal renter, e.g. can't make 3x the rent from a W2 and don't have a co-signer, credit issues, etc. then the randos are more likely to work with you. My sister was a sex worker for a while when she was younger, and trying to do things like rent was difficult because her income fluctuated a lot (always enough to cover rent, but she'd save during good months for poor ones) and she was technically s…
Helped my daughter find housing recently and we ran into lots of these issues (also, nobody we talked to was willing to allow a co-signer).
We ended up finding a friend-of-a-friend who had a bedroom to rent, but she will not (at least in the near-term) be able to rent an apartment.
Re: The real cost of owning a home
#554The housing industry is the one industry that makes healthcare look efficient. Next time you buy a house visit your titling company. White Collar daycare. Great coffee though. And free pens, nice ones.
Re: The real cost of owning a home
#555Earlier quoted context omitted.
I would argue against this. I'm not sure owning is that much better. At the very least it's just as bad as renting if you bought in the past few years... I bought my home in 2023 and since then my monthly HOA payments doubled, my insurance premiums (nearly) tripled and my property taxes have gone up about $1000. Homeownership went from 35% to 45% of my monthly income. If you bought in the past few years, owning has a…
The HOA is something I could fight, but mine is currently cheap. The taxes, however, are infuriating. I’m getting taxed on unrealized gains after having paid taxes when buying the home. There is nothing I can do about the taxes, and if I do not pay my home will be taken. Essentially, I cannot own my home in any meaningful sense.
The road, water, sewer, and various other public services that make your house valuable are not free.
I would familiarize yourself with your city’s municipal budget before complaining about paying taxes. You’re likely being subsidized by urban dwellers if you live outside the city center.
Re: The real cost of owning a home
#556Earlier quoted context omitted.
Not op, for for me: I have a 4" hole in my cedar siding that I have to craft a custom replacement board for due to a woodpecker. I have a leak in _two_ bathroom shower fixtures that drip into the basement. The first, I started fixing and realized the copper pipe needs to be re-routed. The second, I just turned off the water; I'll get to it later. I have two retaining walls with water routing issues. I need to figure…
Related: https://www.youtube.com/watch?v=_UZFI-8D5uA - 40sec ("What does it look like I'm doing?!)
haha, yes. I love this clip
Re: The real cost of owning a home
#557PSA: it’s probably time to change your furnace’s filter
Re: The real cost of owning a home
#558Earlier quoted context omitted.
Ask your realtor for references.
Why would you ask a realtor?
Realtors often have a list of contractors they rely on to help potential sellers get their homes ready for sale. I have found and used recommended roofers, plumbers, HVAC and electricians from a local realtor that wants my future business.
Re: The real cost of owning a home
#559In the US, median homeowner tenure is about 12 years. If the local price-to-rent ratio is high, (greater NYC metro for example) then you may have to stay 20 years to come out ahead financially. In a case like that, renting can be a very attractive strategy for building wealth.
It's more complicated than that. If you sell-to-buy then the tenure only affects the costs related to the purchase itself. I suspect many homeowners live in a house they own for much more than 20 years. I've owned since 2007, but my mean tenure is less than 12 years since I moved.
Re: The real cost of owning a home
#560I don’t share this experience at all. I bought a fully finished new house in Japan, and I haven’t had to do or pay anything extra (other than mortgage and yearly tax) for the past 6 years. Maybe it is different if you buy an old house?
My understanding that Japan is exceptional in this case; I've been told that houses in Japan depreciate about as fast as a quality roof, so e.g. a roof-replacement is not ever needed -- it's just time to build a new house.