Housing - Do you rent or own?

One of my life goals was to own 2 houses before I was 30, so my wife and I bought our first house in 2009 when we were 22, I didn't see the need to pay $850/month for a 2 bedroom apartment, when I could pay $650/month towards mortgage for a 3 bedroom house with a big front and back yard.

Now, I moved and we ended up buying another house which is 4 bedrooms, big back yard and it is never cold where we are. Truthfully, going from a 1300sq ft house to a 2400sq ft house, it's just to big for just us.

I have 2 living rooms, one is when you first walk in, I have no idea what to put in it!!! We bought a 55" LED TV and mounted it to the wall and it just looks to small, I'd like to sell it and get a 70"!

1 bedroom is a man cave, some what, 1 bedroom is being rented out to one of my best friends, and the other is empty.

I rent out our first house.

Come to sunny sarasota fl.

I live in a condo (own) as you can guess in Sunny Sarasota FL. I also have a place in Philadelphia PA. Both Paid off.
So here is my pitch for Sarasota. On the coast, Gulf of Mexico. Real Estate Taxes are cheap, 600 YR. Condo fee 200 month. My electric bill is 30-60 month. Condo is ALL electric. No Natural Gas. Water is 40 bucks a month.

FL has NO income tax. Its WINTER here but no need to turn on the heater. I dont think I have a heater... Lemme look... LOL...
Pool is heated (Condo Public). Tennis court too...

Google 1120 Villagio Cir. I'm on the center lake.

PS. Water bill is sewer too... And yes its a bit high, but not a show stopper...

^^ <3 Sarasota

We have a modest single family house in Sarasota. As of a couple months ago we owe about $32,000 so it'll be paid off in less than 3 years. That will be a happy day!

pr0230 said:

I live in a condo (own) as you can guess in Sunny Sarasota FL. I also have a place in Philadelphia PA. Both Paid off.
So here is my pitch for Sarasota. On the coast, Gulf of Mexico. Real Estate Taxes are cheap, 600 YR. Condo fee 200 month. My electric bill is 30-60 month. Condo is ALL electric. No Natural Gas. Water is 40 bucks a month.

FL has NO income tax. Its WINTER here but no need to turn on the heater. I dont think I have a heater... Lemme look... LOL...
Pool is heated (Condo Public). Tennis court too...

Google 1120 Villagio Cir. I'm on the center lake.

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Your water bill is expensive! Mine is about $10 every three months, and the quality is excellent. Everything else here is way too expensive

Our water bill varies by season, but I don't think it's ever been less than $60/mo. This time of year we have to add water to the pool every few days, so it's higher.

My water and sewer bill come as one. They meter the water, then charge the same amount for sewer. My cheapest bill so far in two years has been $119, and most expensive was $149.

They bill every three months.

Mr. McMac said:

Your water bill is expensive! Mine is about $10 every three months, and the quality is excellent. Everything else here is way too expensive

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ericrwalker said:

My water and sewer bill come as one. They meter the water, then charge the same amount for sewer. My cheapest bill so far in two years has been $119, and most expensive was $149.

They bill every three months.

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We don't have sewers here. I have a cesspool which cost me $4000 to have it replaced 5 years ago. Life is expensive, isn't it?

It sure is, it's funny how much more it cost in some places compared to others. I am overpaying for everything.

It goes to show that $50k might be good in some places and enough to get by in others.

Mr. McMac said:

We don't have sewers here. I have a cesspool which cost me $4000 to have it replaced 5 years ago. Life is expensive, isn't it?

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I rent in a condo with my wife. It's way too expensive to buy here in Toronto. Anything under $650,000 can't really get much unless it's way out in the suburbs. We will eventually get a house, hopefully next year.

macquariumguy said:

^^ <3 Sarasota

We have a modest single family house in Sarasota. As of a couple months ago we owe about $32,000 so it'll be paid off in less than 3 years. That will be a happy day!

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You will be verryyy happy!!! Good Luck!

Homeowner. As in paid off, just like my Macs

A rebellious youth, at least I wised up early. Got my degree, continued to live like a poor college student while I had a "real job", pumped the income into a house & got it done in 18 years.

I feel for those who are in the market today. The financial landscape today is a minefield.

sammich said:

One of the most expensive places to buy property, right here in Sydney.

My parents bought ages ago, when it was 'low'. This is a 2nd property and I take care of it with some 'rent' that I contribute to my parents. The mortgage is still 5+ years away from being paid off.

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I am planning to move there in Sydney next year. Would you recommend any areas near Sydney that offers low rentals? I prefer a family friendly and safe environment. Appreciate your reply!

PinoyAko said:

I am planning to move there in Sydney next year. Would you recommend any areas near Sydney that offers low rentals? I prefer a family friendly and safe environment. Appreciate your reply!

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It depends on where you're working and if public transport is important for you. As well as schooling and etc. Because Sydney, like most places in Australia, but especially Sydney, has immense housing prices. Anywhere near a metro area with train services (buses aren't a selling point) and you're going to pay for it. For a 2 bedder apartment you're probably looking 300K minimum easy, reaching into the 700K+ depending on your prox. to the CBD. Divide the prices by 1000 give or take to get an idea of the rent.

Or check out Domain.com.au for your own perusal. Western Sydney wouldn't be your first choice but that's an opinion of an outsider.

I live in Hong Kong on the island side, it's basically impossible to find something for less than 2-3m$ HKD, that's about 400-500k USD. I rent, bleh.

Own

Luckily I have managed to save up and own a house.

I'm a renter for a few reasons...

-I'm young and don't want to commit to a single location to remain for an extended period of time.
-I don't consider buying a guaranteed investment. At the end of 30 years and after all the taxes, repairs, improvements, and possibly a market upswing, was it worth it?
-It can be a money pit depending on the condition of the house.
-I enjoy the amenities of renting at an apartment complex.