DOS

2/16/2012 10:35:46 PM

50% of the time it works... every time

2/17/2012 12:38:28 AM

+1 To TKE-Teg

2/17/2012 7:27:05 AM

what would the author say about my rent, at $725/mo (which I found to be average for ok/nice apartments in raleigh), vs a house I'm considering, which is larger and nicer than my apartment, at $500/month (mortgage payment), with no HOA, no city taxes.

He's wrong 50% of the time 100% of the time

2/17/2012 9:12:43 AM

^ How much are you spending on renovations outside of the loan?

[Edited on February 17, 2012 at 10:38 AM. Reason : a]

2/17/2012 10:38:44 AM

$500 a month? What the fuck are you buying and where are you living? Sounds like a shack in Johnston County.

2/17/2012 10:41:09 AM

^^just a fence. house was recently updated. It was a foreclosure someone bought cheaply 2 years ago and then fully upgraded.

^1,400 sf house in west wake county. pretty nice little house.

2/17/2012 10:53:37 AM

It's on an old Indian burial grounds. His pets will be killing him in short time and he won't feel it was so cheap anymore

2/17/2012 11:00:49 AM

I appreciate the few props I have gotten in this thread, but I assume everyone that I am not that smart, lol. I might not sink money into a house (when I don't need one) but it's not to say I'm doing something incredibly smart with it otherwise

Quote :

"What the fuck are you buying and where are you living? Sounds like a shack in Johnston County. "

$500/mo mortgage? Sounds like its the middle of nowhere in Western Wake Co

2/17/2012 12:13:40 PM

Quote :

"what would the author say about my rent, at $725/mo (which I found to be average for ok/nice apartments in raleigh), vs a house I'm considering, which is larger and nicer than my apartment, at $500/month (mortgage payment), with no HOA, no city taxes. He's wrong 50% of the time 100% of the time "

Do you want us to make you a flow chart? Ok, do you make $20,000 a year? No, then move to step 2...

If it's a fair comparison and you want to live in the area it sounds like you net $200 a month which gives you a lot of financial upside to the other risks outlined. If you move farther from where you work or where you want to be that changes things a little.

[Edited on February 17, 2012 at 12:38 PM. Reason : a]

2/17/2012 12:34:10 PM

Quote :

"$500/mo mortgage? Sounds like its the middle of nowhere in Western Wake Co"

Mine is only $875, and I have 7 Acres. The house is about 1500 sq. ft. I have a 15 minute drive to downtown Greensboro and a 10 minute drive to Burlington. Just because someone got a great deal on a home doesn't mean they live in a trailer park, especially considering the spike in foreclosures over the past few years.

[Edited on February 17, 2012 at 3:15 PM. Reason : a]

2/17/2012 3:10:35 PM

We're paying about $200 more per month on our mortgage than what we would have been paying in rent had we continued our lease. But the apartment complex we were living in was a shithole. If we had been living in a nice complex I'm sure our mortgage payment would be much less than rent, especially if we were renting a three bedroom place.

2/17/2012 3:27:07 PM

$500 a month? Whats your car payment, like 60 bucks? Jesus Christ.

2/17/2012 3:43:25 PM

I think it is fair to assume that wdprice3 lives in a tent and drives a moped.

2/17/2012 3:54:19 PM

I knew this since I was 16 and I thought about the difference between renting and owning a house for the first time.


the only advantage of owning your own house is that you don't need permission to make renovation changes and have pets and other small stuff


the only advantage of owning your own land is that the government or landowner couldn't tell you what you can and can't do on your land. (however this notion has been trampled over so much that it doesn't exist anymore. The government can do anything they want with your land and for any reason.)

Therefore, right now, the best thing to do is near rent or own a home, but to move in with someone who does rent or own a home and pay them a portion of the rent in exchange for a private room over the garage.



[Edited on February 17, 2012 at 8:46 PM. Reason : .]

2/17/2012 8:44:44 PM

haha, my truck payment is $400/month

2/17/2012 8:50:01 PM

for renting, how early is too early to put down an apartment deposit? Will people accept a deposit for a july move in in april?

4/10/2012 10:40:41 PM