CPW: Do you rent or own?

Flamingo86

A house, that is

brij2006

In our area, it's actually cheaper to own a home than it is to rent. So the majority of people own.

Flamingo86

We rent. Housing is ridiculously expensive in our area, and for the time being renting is cheaper. We are hoping to own a home in the next 2-5 years.

sparklingdiamond

I had to vote other.  We were renting, but now we are having a house built and are living with my mom until it is finished.  So neither at the moment!

zamboni00

Own. Or at least, H does. He bought it before we met. The house we are building will be ours.

rccola1981

I bought a house right before DH and started to date. In our area there are a lot of homes cheaper than renting. I pay less than $500

amandaf6383

rccola1981 said:

I bought a house right before DH and started to date. In our area there are a lot of homes cheaper than renting. I pay less than $500

Whaaaaaaaaaa? Oh my gosh, we pay more than three times that, almost four. 

Flamingo86

amandaf6383 said:

rccola1981 said:

I bought a house right before DH and started to date. In our area there are a lot of homes cheaper than renting. I pay less than $500

Whaaaaaaaaaa? Oh my gosh, we pay more than three times that, almost four. 

Yes please sign me up for a $500 a month mortgage. That's almost as good as a free baby.

LuckyAngel07

Flamingo86 said:

amandaf6383 said:

rccola1981 said:

I bought a house right before DH and started to date. In our area there are a lot of homes cheaper than renting. I pay less than $500

Whaaaaaaaaaa? Oh my gosh, we pay more than three times that, almost four. 

Yes please sign me up for a $500 a month mortgage. That's almost as good as a free baby.


Seriously! Even after our refi we're nowhere near that low!

blueeyedblossom

amandaf6383 said:

rccola1981 said:

I bought a house right before DH and started to date. In our area there are a lot of homes cheaper than renting. I pay less than $500

Whaaaaaaaaaa? Oh my gosh, we pay more than three times that, almost four. 

That's insanity! Where do you live again? Ours is only $800 (taxes and insurance are included)

poppies717

rccola1981 said:

I bought a house right before DH and started to date. In our area there are a lot of homes cheaper than renting. I pay less than $500

Where is this?! So jealous! DH and I enjoy bragging about our low mortgage because we put 20% down, but our mortgage is still waaaaay over $500!

Xan921

We rent.  We've always rented apartments but 2 months ago we moved into the in-law apartment in my Mom's house in order to save money to put towards a down payment on a house within the next 6-9 months.  We do pay her rent but we went from paying $1400/mo to around $400/mo so it's a big difference and is really helping us get all of our bills paid off and save.  

wiggyslilsis

We rent out the house we own and we rent a different house. It is a long story but this house is much bigger and actually costs us less to rent and our mortgage is paid from our renter.

transponster

We own our house. Well, H does, he bought it before we married. But it's ~$900 a month so it's about what we would pay to rent a decent apartment.

thecuddleeffect

blueeyedblossom said:

amandaf6383 said:

rccola1981 said:

I bought a house right before DH and started to date. In our area there are a lot of homes cheaper than renting. I pay less than $500

Whaaaaaaaaaa? Oh my gosh, we pay more than three times that, almost four. 

That's insanity! Where do you live again? Ours is only $800 (taxes and insurance are included)

Holy shit! I pay $2,200 a month for my mortgage! Shit son. Our first house we bought 2 years ago (not this house) it was around the same to buy and to rent - 1100 on a mortgage as compared to 945 for a basement apartment. Just made sense!

So jealous of both of you, what a great deal you have!

brij2006

rccola1981 said:

I bought a house right before DH and started to date. In our area there are a lot of homes cheaper than renting. I pay less than $500

We got lucky in this too. Our mortgage is $315/month. But our area is very rural. So we have to drive 20 miles to the nearest Walmart, and the closest Starbucks is an hour away. We also bought a foreclosure that needed completely redone. So our mortgage is cheap, but we've put over $20K into the house over the past 4 years in order to fix it up.

iwalktheline

Im so jealous of your low mortgages! We own a 2BR townhouse that's about $1300/month, plus nearly $400/month for our condo fees. We live 30 miles outside of the city, so it could easily be double that if we lived closer. Totally jealous.

brij2006

iwalktheline said:

Im so jealous of your low mortgages! We own a 2BR townhouse that's about $1300/month, plus nearly $400/month for our condo fees. We live 30 miles outside of the city, so it could easily be double that if we lived closer. Totally jealous.

Those are the exact reasons why we moved back here after living in the suburbs of Chicago for 3 years. My 1 bedroom apartment was $900, and a condo mortgage was about $1,200/month. We didn't want to continue doing that. But we definitely miss having things to do and seeing friends often.

arj14

We rent part of my parent's duplex, and up til now we've only been paying utilities.  Now that we can afford it though we will be giving them some rent money.

callitcompulsive

We rent for now--I'm kind of saving some $ and paying down debt *shakes fist at college* for a down payment, but we're not actively looking or anything. H wants to get promoted first and depending upon where that is (and lol like it'll ever happen anyways) we'll buy in/around that area. I love where I am though, so it'll be a tough choice if I have to move hours away. :shrugs: besides I love having on-site maintenance and landscaping people. They're worth the $1200 I pay every month, lol.

Anyways, I'd like to buy by the time I'm 30, so I still have a couple years. There are some nice places around here (that need a little love and updating, for sure) and the mortgage (along with the interest, pmi and taxes) would be less than what we pay in rent. I like the idea of getting up and moving (at the end of 12 months, of course) if a better opportunity for H were to arise.

BeeLu

We rent and will be renting for a while, because we're not going to be settled in one location for very long until DH has a full professorship... and that's going to take some time.