Is It Better to Buy or Rent?
nytimes.com
Is It Better to Buy or Rent?
1–10 of 15 posts
Re: Is It Better to Buy or Rent?
#2Literally the other day I posted a comment with a link with the previous version of that calculator from the NY Times from 2006:
http://news.ycombinator.com/item?id=1275691
Weird coincidence. Nice to see they've updated that calculator, it's even more useful now.
Re: Is It Better to Buy or Rent?
#3The renter's manifesto http://www.mint.com/blog/goals/rent-vs-buy/
Re: Is It Better to Buy or Rent?
#4Also the financial cost is part of the decision for buying vs. renting, it is not the only one for me. I feel I have a better quality of life in my own house. For example, I did not want any carpet on the floor for my toddlers and can remove it in my own house, I can change the isolation, etc. On the other side, other people could prefer not to have to worry about a leaky roof, replacing the plumbing, etc.
Re: Is It Better to Buy or Rent?
#5I own property and rent it to others. I rent property from someone else to live in and have mobility. Best of both worlds.
Re: Is It Better to Buy or Rent?
#6I own property and rent it to others. I rent property from someone else to live in and have mobility. Best of both worlds.
Most of the time, this is the best way to do it (financially speaking) - alot of people still like to live in a house they "own" though.
Re: Is It Better to Buy or Rent?
#7I own property and rent it to others. I rent property from someone else to live in and have mobility. Best of both worlds.
Most of the time, this is the best way to do it (financially speaking) - alot of people still like to live in a house they "own" though.
I do this too, but it's only the best way to do it if you really need the mobility. I own property in my home town, but will sell it and buy locally as soon as I decide where I'm likely to be living in the long term.
The main problem is that the rent I receive is taxed as income and the rent I pay isn't tax-deductible.
Re: Is It Better to Buy or Rent?
#8From today & apropos: http://sethgodin.typepad.com/seths_blog/2010/04/how-to-buy-a...
Re: Is It Better to Buy or Rent?
#9I think that if you have a steady income and a family, buying (or building) makes more sense considering the fact that the landlord/owner of the rented property can ask you to vacate any time. Even with an advance vacation notice, finding a new rental property and moving with a family is a huge hassle. With your own property you at-least have the peace of mind that it's yours to keep (alright, not really so until you pay off the mortgage, but still better than renting in this one scenario).
Re: Is It Better to Buy or Rent?
#10Hysterical. I've been telling people about the cost-benefit of rent/own around our neighborhood for years. I can buy a 1000sq. ft. home with an arm's length of property around it for $419,000 or I can rent a 1000sq. ft. home for $1400. With default yearly increases and 5.5% mortgage rate it's better to buy after... never! With a 2% annual increase in home value, never! 3%, same as rent, never! 4%, never! Houses have to increase at 5% just to be positive, after 13 years. (We have 2.7% tax rate.)
Damn. Nice to see a chart like that.