I'm a big supporter of buying rather than renting, but there was an interesting read in MSN about a month ago that tried to argue for renting.
The premis was that if you took your $30,000 down payment plus the difference in price from renting and owning, and invested it in to the market averaging 8% for 30 years that the value at the end could be higher than the value of the house.
Unless you kept your money in the current market.
Unless you kept your money in the current market.
Really for me the best reason to own rather than rent.... No annoying people above r below you (except for your family. and there is no escaping them).
oh brother. owning a home is bad cuz of property taxes now?? now i've heard it all. i love this place.
Renting is cool because bald hairy smelly invasive landlords rule. Don't you know nothing!
they are only cool if they show off a little crack while they are doing some under the sink plumbing. speaking of which, you guys better tell your landlords to be careful if they are doing work under the sink or they might end up in the future.Renting is cool because bald hairy smelly invasive landlords rule. Don't you know nothing!
How are you getting out of your mortgage so soon jesse? I assume you are a young guy like my self (30 something).
they are only cool if they show off a little crack while they are doing some under the sink plumbing. speaking of which, you guys better tell your landlords to be careful if they are doing work under the sink or they might end up in the future.
I was in no way trying to diss the home owners.I am just trying to understand the taxes part of it all.I pay rent cause my credit is sh tty.If owning a home is as great as they say,then fine,I just don't want to pay anything extra at the end of the year paying taxes,and then loose my tax return as well.
PS if your parents don't have enough money from their tax return to pay their property taxes then they need to either have more money taken out in taxes every month and let the government earn the interest on it (very stupid), or save money each month for their tax bill at the end of the year (duh), or buy a smaller house with lower property taxes.
Anyways, sorry about that the Jew in my took over for a bit.
As you'll learn life is all about paying taxes. You pay property taxes once, I repeat one time. Either all at once during property tax time (not the same as "tax time" ie income taxes) or have your mortgage company take out a years taxes for you 1/12th at a time included with every monthly mortgage payment.
You do not pay property taxes all year, then at the end of the year, and then get your tax refund taken. That's just silly.
Attention Home Owners
I like licking flag poles ,alot.
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