pros and cons of renting a apartment.

[fightingwarrior]

can i have your thoughts.

[brxbmbers42]

Cons are could have terrible neighbors and the rent goes towards nothing. Just an endless pit. At least if you own the payments are going toward you owning the property.

[ngates815]

Only good thing about Apartments is sometimes they include all your utilities.


But there is no upside to renting IMHO. You're just pissing away 1K-1500 per month. You can pick up a Mortgage for that price. One of our friends rents a townhome and pays 1521 not including water/gas/electric/garbage, my mortgage is 1421 a month and doesn't include utilities. But my place is 2100 sq ft, and theres is 1750. Our place is a little bigger, and when we go to move, we'll be getting some money back, when they go to move, they'll realize they just pissed away 20K a year.

[ngates815]

Like I told you before...Pick up a mortgage, so you're not just pissing your money away.

[fightingwarrior]

but ngates if you dont got a good down payment or good credit how do you get a home.you need to establish this first no.

[raydog]

pros...
if you cant afford the down payment on a house, anyone with a paycheck can rent...
when you rent, you have less worry of shit getting fukt up...throw parties, do damage, who cares... its not your place and so what if you have to paint a wall or replace a piece of carpet when you move out. better than ruining things in your own home...
no yard to take care of

cons...
no equity
less privacy

[pavyracer]

if you plan to live there for less than 5 years rent if not buy a house

[Doug]

sometimes you can lose a lot of money with a house, look at if you bought in LV 5 years ago.

hard to sell a house now.

I agree with 5 years being the minimum stay in a home.

[Lincoln73]

if you aren't handy and can't fix stuff, rent.

[SaviorTebow]

I'm a big advocate of renting unless you can put down a massive down payment on a home (30-50%).

Pros
-No long term commitments. Most leases are 12 months I believe.
-No property tax!

Cons
-No "equity" (whatever that means). Home equity is nothing more than a scam into making the middle class think they actually have money. A big cause of the recent mortgage crisis is Joe Schmo down the street found out he had 200k "equity" in his house a few years ago, bought a BMW, a boat, and other expensive items and/or vacations with that money. Then his home value dropped by 50% and next thing you know the poor bastard is drowning in debt. Taking out a Heloc is a very dangerous proposition for many middle class Americans, as it makes them feel "rich" when in reality a Heloc is nothing more than borrowed money in hopes that their home doesn't lose value.

If you plan to live somewhere for at least 15 years and you can put down a sizable down payment, and have the mortgage paid for in 10-15 years, then buy.

If you only plan to be there a couple years, rent.

[sundin4prez]

pros- no commitment, no property tax, if something breaks its not out of you pocket and you dont have to fix it

cons- shitty neighbors, and your money is going nowhere...

[ngates815]

but ngates if you dont got a good down payment or good credit how do you get a home.you need to establish this first no.

You don't, get a home then. I was given the run around quite a bit during my loan process. I had put down 32 grand on the house, and somethings still weren't working out right. It was probably because they wanted to check my work history, and could see that I had the same job from 17-22, then didn't collect a paycheck for 9 months, while starting our own company, and had only received a check for 6 months,then bought the house. Pain in the ass.