Re: Re: Re: homes and stocks( er, what thread is this...)
But I have to live somewhere, right. Why spend it on rent when I can own and have something when I'm done. To me, renting is like throwing money away. Besides, I've seen my house go up 150k in value in the past 2 years. After we put another bathroom in the basement and go to 3 br, 2 1/2 bath we'll be able to get even more. This is what I call an investment, and a good use of capital, since we put only 5% down to begin with.
I do realize that in other locations, things might be different, and even on a short term renting is better than owning. But around DC, if you bought and then sold your house a month later, chances are very high you'll make money on the deal.
Originally posted by 3rdpath
i'm not saying home ownership is bad-far from it, just from a financial perspective its not the best use of capital. when you factor in the emotional issues ( and the premium you're willing to pay for them) it can certainly be a positive experience- but thats not the same as thing as an asset. ( financially speaking, since we've been talking $$$)
But I have to live somewhere, right. Why spend it on rent when I can own and have something when I'm done. To me, renting is like throwing money away. Besides, I've seen my house go up 150k in value in the past 2 years. After we put another bathroom in the basement and go to 3 br, 2 1/2 bath we'll be able to get even more. This is what I call an investment, and a good use of capital, since we put only 5% down to begin with.
I do realize that in other locations, things might be different, and even on a short term renting is better than owning. But around DC, if you bought and then sold your house a month later, chances are very high you'll make money on the deal.