Who here owns?
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- ross0
i own a house in toronto too.
its nice, except when we get robbed.
- ********0
I'm looking to buy a summer home maybe in Europe, but my friend just go a place in Thailand and renting out. Not bad. I'm budgeting about US 650K.
- ninjasavant0
Just put an offer in on a place, cross your fingers.
- ETM0
The best time to buy real estate is 5 years ago. The longer you wait, only the more expensive things will get.
Find a fixer. Not a structural, costly nightmare, but an ugly, outdated place. Just needs some lipstick. Hardwood, some tiles, new cabinets, paint etc.
You can then weekend warrior renovate over time and add some value. If you can't add value in the current market, its dangerous. It creates a buffer if prices drop a bit. Just educate yourself and make sure the money you get back on what you do would be more than you put in. Example $2k in hardwood could easily add $5k to your value, as well as increase over all salability.- I have owned for 6 years and my house has doubled in value.ETM
- good advice. i've owned 2 houses over the past 7 years and the value of my current house is triple what i bought the first one for.arthur
- first one for.arthur
- Well said ETM. We bought the same time as you and have experienced the same value increase.********
- ********0
see, that's just it. I don't want to put all my free time into a house and become that "home depot" guy. Seems like houses end up owning you.
- In balance, it can be rewarding and fulfilling. Personally and financially.ETM
- don't look at it as the house owning you. You're working for future money basically.arthur
- They are a lot of work, for sure. Even if you get a brand new home, you are going to need some level of DIY...blaw
- ...skills or you're going to go broke in a hurry. Basic plumbing, electrical & gen. handiness go a long way.blaw
- thenuge0
morilla. they do.
- ********0
I own, its alot more of a hassle. Renting is easier...
If your life is on cruise control then step-up and buy....
- Its okay for a while... but how long can you go giving away money with nothing to show?ETM
- ********0
Hey Home Depot kicks ass.
- i like the milfs there********
- http://farm2.static.…********
- Lowes is better! :pmoldero
- i like the milfs there
- JerseyRaindog0
On my second flat now having made a bundle on our first. It's the only way up the ladder. That said I don't think I'll ever be able to afford a house with a garden living in Jersey. Average price of a 2 bed house with garden has now crossed over the £450k mark here and we don't seem to be that affected by the current economic climate here (with house prices anyway). Everything else is going up.
But if you can buy. I rented for 10 years and all that money is just gone, gone, gone...
- jonatne0
I own a condo in Austin.
Flooded my kitchen and downstairs bathroom today.
Inch of water all throughout...
Looks to be damaging my bamboo floors in my dining room..The whole thing is fucked
- Ouch.JerseyRaindog
- Yeah big ouch.. I'm still in denial.. Don't really have $5k laying around to fix it.. Stupid mejonatne
- Insurance?JerseyRaindog
- jamble0
There's not much to freak out about, it's not like renting is saving you any money anyway. You're still paying out each month and you still have to worry about not meeting the payments so you might as well get onto the property ladder.
I wish I'd bought years ago instead of renting and giving all my money to dodgy landlords instead of investing in my own place.
- airey0
renting is fine as long as you're saving and investing money elsewhere. the benefit of owning is that you have equity in something of value, this allows you something to borrow against for future investments - be they property or shares etc. it also means that you can, over time, move on and rent out the first place, using the equity.
depending on where you live renting can quite often be cheaper in the short term but without any investment elsewhere you'll end up with only your super fund for retirement. obviously that's a long way away but something to think about.
like JG_LB said, do your homework on where you live and make the call yourself. if you do have some funds saved then go see a financial planner. they'll be able to give you some good advice.
- MrMackem0
We bought In February. Moved in in April.
And have been skint as fuck since about April. Nowt better than getting food parcels off your parents. And basically ebaying your life to afford the mortgage.
Beans on toast again pet?
- fodcj0
Own a house and love it. Little worrying with the drop in prices of late but haven't ever really got worried about it.
- Raniator0
I've 'own' my apartment... got a mortgage, just gone through a new application actually 'cause my fixed five years ran out. Piece of piss. I realise the credit crunch is going to affect house prices but as far as new/existing mortgage applications go, it's no where near as bad as people and the media are making out.
Gordon Brown is still a cunt, though.
- ********0
I own a house. To be honest I found the transition from renting to getting on the mortagage ladder to be a total breeze, no problem at all.
Here is a list of things you need to make the process easy:
1. An organised, and very keen girlfriend.
Good luck!
- e-pill0
IM SAVING ... nyc takes forever to save...
- ********0
renting untill I find the perfect deal,
buying a house or doing a mortgage to buy one is suicidal.