Show HN: Should I Get a House? a better rent vs. buy calculator

Post by WarOnPrivacy » Mon, Jul 19, 2021, 11:48 PM UTC

Johnny555 wrote: post #209

ramraj07 wrote: post #172

Earlier quoted context omitted.

Eh, almost no one I’ve seen has ever spent less by moving to their own home. They’ll typically end up spending at least half of what they spent as rent just on things other than the mortgage (which would typically be much higher than the rent by itself). Now of course they often would get a larger, nicer place that’s exactly what they wanted, but let’s not kid ourselves that home ownership is somehow cheaper. It neve…

If you look at the home as a long-term investment, it's almost always cheaper than renting since your mortgage stays the same, while rents almost always rise. You may be paying more in mortgage+taxes+insurance+maintenance when you buy the house, but 10 year later, rents have almost certainly gone up.

Post by throwaway0a5e » Mon, Jul 19, 2021, 11:53 PM UTC

pessimizer wrote: post #129

drfuchs wrote: post #47

Where do I enter the intangible value of owning: "Don't have to worry about getting priced out if the neighborhood becomes popular; can do any improvements I want, when I want, how I want, and they become an asset; don't have to worry about not getting lease renewed at an inconvenient time (perhaps in the middle of a school year) when the owner's nephew gets divorced and needs a place; on the other hand, don't have t…

> Don't have to worry about getting priced out if the neighborhood becomes popular That's what property taxes are for.

Post by o8r3oFTZPE » Mon, Jul 19, 2021, 11:57 PM UTC

hnhousingthrow wrote: post #188

These calculators don't reflect the reality/absurdity of the current economy. Anecdotal, but I bought a house in eastern California last year for $600k, now Zillow says it's worth $835k. Also, I'll unlikely ever be able to afford a house in the Bay Area, even though I make $220k/year at a company there. Still don't know what I'll do if my employer makes us return to the SF office in a few months. Relatedly, a ~70 yea…

Post by throwaway0a5e » Tue, Jul 20, 2021, 12:00 AM UTC

BeetleB wrote: post #151

bachmeier wrote: post #61

Earlier quoted context omitted.

> Consider a $150 repair for your AC These are precisely the examples I was cursing after I bought my house. They were the ones existing homeowners always talked about. A $150 repair for the AC is nothing. The prospective homeowner needs to think about things like: "Your roof is shot." The lowest bid is $15,000. Check is due before they leave your property. "Your trees are dying." Cost of cutting them out and replaci…

> "Your roof is shot." The lowest bid is $15,000. Check is due before they leave your property. When you buy the house, you should have had an idea on how much it costs, and saved for it. $15K over 30 years is nothing. Also, of course this depends on where you live and how big your roof is, but for my house, $15K is overpriced. I recently got bids and while the numbers varied quite a bit, $11K was more typical. Of co…

Post by MeinBlutIstBlau » Tue, Jul 20, 2021, 12:02 AM UTC

chiefalchemist wrote: post #183

crazygringo wrote: post #149

Earlier quoted context omitted.

Funny, I'm the opposite. The more I get older the less I want to deal with bullshit home maintenance, and the infinite time suck that is customization and endless improvements. Really part of a general life shift from "if you want it done right, do it yourself" and "if it's worth doing, it's worth doing right" -- to "outsourcing is a valuable tool" and "perfection is the enemy of the good". I realize my time is valua…

Regardless of age, needs and priorities change. There's no joy in moving, but it's still better than the time suck of hiring a contractor, electrician, and/or plumber. AND having to pay them. Owning is nice. But it's more limited and more time consuming. There's a cost associated with that.