Do You Own Your Home, Or Are You Renting?
By KrauseHome
@KrauseHome (36447)
United States
September 18, 2008 8:24pm CST
Right now with all the Real Estate issues and high foreclosures, etc. I was wondering how many of us own a place, or are buying a place, and sometimes wish we were not, and do you think it would be easier to rent sometimes?
We live in a Condo that has been on the Market now for just about 4 months. It is a one bedroom, and the main issue if we were to decide to Rent it out instead, along with the Condo fee, we would have to charge around $1000 a month. That is quite high for a one bedroom, and so there are times I wonder if buying in a case such as this really is a Good deal? We are wanting to buy a larger place, and have found one we are really interested in, but the problem is due to Credit, etc. we have to wait to buy it after we sell our current place.
Sometimes if it was not for loosing the almost 11 yrs. of Equity my husband has had with this Condo, we would gladly give up everything and Rent again. But then you have so many rules to follow, etc. and No tax discounts, etc. so that would not really be a smart idea either. So for us, we suffer thru and hope for the best as well. Just wish at the same time the housing market would improve some so that we can sell our place and move.
What are your thoughts?
~~TINA~~
8 people like this
28 responses
@sunshine4 (8703)
• United States
19 Sep 08
I can see why it is so hard for people to buy their own home.
We do own our house. We have never rented since we have been married. When my husband and I were first married, we bought a tiny house because that is all that we could afford. At least it was something of our own and we had something to show at the end of living there. We took our money from that house and built a new bigger home. I would hate to have to rent. At least since we own our home, we have something of ours that we have worked for.
@ningyuhui2009 (200)
• China
24 Sep 08
You are very lucky!I have to rent a house which only 6m2!I wish I cound have my own house in the future!
@KrauseHome (36447)
• United States
27 Feb 09
Personally we would Love to Sell our Condo and buy something bigger. With the price of houses how they have dropped, etc. you can get a lot more for your $$ now as well. I know we have seen many places listed that would cost us less than what we pay for our Condo payment with the Condo fee, etc.
@ag_abscruzmd (2283)
• United States
19 Sep 08
Hi, Tina! I do hope that the housing market would improve after the slump. My sister bought a house that she and her husband renovated for a year, for the main purpose of selling it, but could not get to sell the property for a good price. So, for now, it's stagnant. As for me, I am renting an apartment. I think it works better this way. I don't have to spend for maintenance. My roommate is not happy with her condo unit that she is renting out, though. The condo is in another place, and the occupants have not been paying on time! Times are hard, so I think it's not practical to be in a real estate business for now. Hope this changes soon. Happy myLotting!
3 people like this
@KrauseHome (36447)
• United States
7 Mar 09
Personally right now with the way things are going with the Housing Market as in Property Taxes, etc. I think most of the people are sometimes just wanting to get out of these High housing situations and have some room to breathe. We seriously have many times considered putting our Condo back on the market and selling it for just over what we owe just to have this headache lifted and rent again. I know it is a Loss sometimes to do this, but for us it could be our answer.
@myliezl0903 (2726)
• Philippines
19 Sep 08
well, good thing we own our place., i am living with my grandparents now since my parents are separated 20 years ago ., and i am so thankful that we need not to pay for anything in the house except the utility bills and that is one of the advantages if you are not renting., 
@cobrateacher (8432)
• United States
19 Sep 08
When I bought my house, the market was easy and cheap. Now several neighbors are facing foreclosure, and I'm glad I can make the payments without difficulty, since I got this house great price. I doubt that I could get a house at all in the current market. I know I couldn't have a house valued far above a quarter-million at under $600 a month! This is one of those times that being old is good!
I wish you luck in a very tough market. It's really horrible the way things are now. I really hope things get better before long, or we'll be in another Great Depression! ou should be able to live where you want to, without all these hassels. Best luck, truly!
3 people like this
@seasons1981 (299)
• United States
19 Sep 08
we are renting right now... I want to buy a house but the thing is, our credit is too poor for us to buy one... so, I am trying to fix our credit up (which is virtually impossible right at the moment) but will be working on it as soon as some money comes in
1 person likes this
@belk89 (1103)
• Philippines
19 Sep 08
We do own our home and you were right about the real estate issues right now. I think it is not the right time too to sell a property either since you cant sell the house at the price you want. We plan of moving to another state 5 years from now though. But we decided not to sell it anytime soon.
1 person likes this
@lingli_78 (12822)
• Australia
19 Sep 08
i bought my own house last year in august... prior to that, i also rent first for about 1 and a half years when i just get married... i'm glad i make the move... otherwise, i think it is impossible to buy the house now as the prices had increased so much... take care and have a nice day...
1 person likes this
@GardenGerty (160908)
• United States
19 Sep 08
Our house is a money pit, but the payments are much cheaper than rent, even though at this point we are paying off a second mortgage as well. It is almost paid for, both first and second mortgage, so we will stick it out, and keep repairing it. We collect too much stuff, otherwise I would be tempted to live in an RV and travel, except for gas prices. I think you may want to wait a few months, at least until after the election. Then you will have more luck, I believe.
1 person likes this
@danishcanadian (28955)
• Canada
20 Sep 08
My husband is working in Arizona, and I'm currently in Ontario, and we are both renting apartments. His job will be up in a month or two, and he will move to Canada to live with me, thus meaning we'll only need to pay for one place. It will be a lot cheaper for us to only have to pay one rent.
@Bluepatch (2476)
• Trinidad And Tobago
19 Sep 08
I rent a room in an apartment and I am quite happy.
I was astounded when I discovered all the regulations that go into real estate in the US, its amazing.
Here in Trinidad there are little or no rules at all and the ones they have are never enforced.
But real estate prices here are awful and they keep rising all the time regardless.
Plus, because they say, and it does not have to be true, that there are a lot of foreigners in Trinidad, prices are quoted in US dollars.
Anything to make more money.
@bombshell (11256)
• Germany
19 Sep 08
we own the house and since we are considering moving in Philippines we are trying to sell it but bad luck soon we are going and did not sale.so maybe we have luck next year.
1 person likes this
@wiseshopping1 (679)
• China
19 Sep 08
i live in a renting room with my boyfriend. we didn'y by a set of houre, becuse 1 we didn't marry; 2 we don't have enough money; 3 we worked far from our hometown, it's not good to buy houre here, we are going to buy a set of room in my boyfriend's city before marry.
@ningyuhui2009 (200)
• China
24 Sep 08
Although I have my position,I have to rent a house.Because I have no money to buy a house.Now I am going to search another house.Because I feel the fee is too high for me to rent the house I renting now.I very hard for me to live!
@its_pallab (192)
• India
19 Sep 08
I have my own home.I never think of rented house.
cause there are many problems in a rented house.
@illfavors (590)
• United States
19 Sep 08
Times are hard right now and I think part of it is due to all those variable rate mortgages people got sucked into. My husband and I just bought our first property and we got a really great deal on it. I feel fortunate that I have what I have, and hope others can pull through these tough economic times.
@tlb0822 (1410)
• United States
19 Sep 08
My fiance and I own our home. We went straight for living at his parents house to buying our own house. We have never rented. We figured why rent? When we can be paying on a house that we will actually own. Our mortgage isn't really that high, escpically if you compare it to renting. We are very happy with our decision to own instead of rent, and if given the choice to do it over, we would've done the same thing.
@snowy22315 (182028)
• United States
19 Sep 08
I am wishing I could sell my house and move too, but market conditions are probably not going to allow that at this time. I will eventually move, but right now I am just sitting tight waiting for conditions to get better. I may try to put it on the market at the end of next summer if things are starting to happen around here.
