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Chess Forum - Rent or buy?

Player: United  abbyknotChessHere Moderator Subject: Rent or buy?


2018-05-14 19:20:29
I can only speak for Americans because I have not lived in another country, but those of you who do are welcome to post a reply.

In America the 'American Dream' has been failing for the last 12 years. Most people bought a house and thought their investment would pay off - but in the long run look at what has happened!

I rent, and have rented most of my life.
You can get an apartment for $350/month US currency, or you can get a plush pad for twice that amount. About 12 years ago my friends told me I was dumb to not buy a house... that I was 'throwing my money away'. But while I was living in a plush apartment, paying much less than the mortgage for a house, they were experiencing changes. What changes?

If you buy a house you have to pay:
1) The mortgage payment. And guess what? Each payment is 90% Interest! With only 10% paid on the principal.

2) Yearly taxes on your property which can cost you over $2,000.

3) Insurance for the house. Easily $1,000.

4) The Water Bill. In Flint, Michigan everyone who owns a house has to pay around $160/month for their water!

5) Electrical and gas bills.
NOTE: These bills for a home owner average $300-$400/month!
I live in an apartment and pay $60 for electricity and my landlord pays my gas bill! FREE HEATING & COOKING!

6) If you own a house you have to mow the lawn, shovel snow, continually pay for house repairs. I don't have to do any of that.

7) If your washer, dryer, air conditioner, dish washer or furnace goes out you have to pay thousands of dollars to have them replaced!
At my apartment I've had ALL of these items fail in the past 12 years. BUT, management here replaced everything for FREE and within 2 days.

I have ONE payment for rent and a small electrical bill. I calculated everything out and discovered that the houses my friend's bought are now 'worth less than they owe on them!'

I'd like to hear from other people what it's like to live in another country regarding this topic.

abbyknot
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1France  LerouxJPGrandMaster awarded to world-class chess masters2018-05-14 19:39:07
I own a small house in France and a house in the states too My grand father left it to me when he passed the house is in Broken Bow NE so I am a home owner and a landlord

I an relate to Abby about the cost he mentions
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2Canada  HenriDeToi2018-05-20 07:48:30
Rant, it's cheaper. And invest the différence.-

3Canada  HenriDeToi2018-05-20 07:49:08
Rent, that is -

 

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