|
gay_crimes posted:I'm not buying a house for financial independence, I'm buying because I'm a tech dink who has lived below my means for fifteen years and am tired of having relationships with landlords and have long wanted to own a house and recently reached a breaking point. My condo has had water damage for the past year and my landlord won't do anything about it and this is the best landlord I've had. Yeah there is a huge huge incentive to own your own place, quality of life increases dramatically. The kid who hosts rager keggers until 7am every Saturday night is probably not going to live next door where you buy, unless you made some terrible mistake. It's also a prime reason why NIMBY feverently reject rental projects in their neighborhood etc (that's a different discussion though). Even living in a condo building vs apartment building there's a tremendous difference in tone, even if 25% of the units are rentals. The HOA board likely lives in the building. I see a lot of people pointing to spreadsheets about the break even costs of rent vs buy. That totally ignores the fact that you're not just buying a house, you're also buying your neighbors (somewhere a pubic housing advocate is turning over in their grave) B-Nasty posted:. I'm going to wager that the vast majority of the posters looking for houses in this here thread are ages 28-38, basically right in the middle of the Millennial boom. Even if Boomers were shifting out of the housing market as Millennials were shifting in (spoiler: they aren't), there still would be a massive gap in supply vs the demand. Yep
|
#
?
Mar 9, 2021 21:45
|
|
|
|
| # ? May 17, 2024 03:17 |
|
|
Hadlock posted:Yeah there is a huge huge incentive to own your own place, quality of life increases dramatically. The kid who hosts rager keggers until 7am every Saturday night is probably not going to live next door where you buy, unless you made some terrible mistake. It's also a prime reason why NIMBY feverently reject rental projects in their neighborhood etc (that's a different discussion though). Even living in a condo building vs apartment building there's a tremendous difference in tone, even if 25% of the units are rentals. The HOA board likely lives in the building. I've said it before many times: buying vs. renting is a lifestyle choice primarily. You can spreadsheet that out to make sure you can afford it or aren't paying too much for whichever one is your preference, but this is NOT real estate investing. We're talking about people's homes.
|
|
#
?
Mar 9, 2021 21:56
|
|
|
Some of you are basically saying buying a house lets you get out of lovely college slums, which sounds like a viewpoint of someone who hasn't rented since they were in college. There are plenty of people who rent houses in nice neighborhoods, are engaged with their community, are friends with their neighbors. It's easy to not be aware of this unless you go around asking all your neighbors if they own or rent.
|
|
#
?
Mar 9, 2021 22:43
|
|
|
Hadlock posted:Yeah there is a huge huge incentive to own your own place, quality of life increases dramatically. The kid who hosts rager keggers until 7am every Saturday night is probably not going to live next door where you buy, unless you made some terrible mistake. It's also a prime reason why NIMBY feverently reject rental projects in their neighborhood etc (that's a different discussion though). Even living in a condo building vs apartment building there's a tremendous difference in tone, even if 25% of the units are rentals. The HOA board likely lives in the building. This is strictly why we're buying. 100% for quality of life increase and the ability to make changes to our home that we want + repair poo poo in a timely matter the right way. Renting sucks because every fix and every item is "the cheapest possible thing regardless of usefulness or longevity."
|
|
#
?
Mar 9, 2021 22:46
|
|
|
alnilam posted:Some of you are basically saying buying a house lets you get out of lovely college slums, which sounds like a viewpoint of someone who hasn't rented since they were in college. Oh, no, I rented from the time I was 18 and then for 15+ years straight through my entire adult life until I bought for the first time, across at least 10 properties Good on you for never having noisy neighbors, though My downstairs neighbor until I moved into my house would sing loud karaoke music until 4am on week days and the landlord could care less
|
|
#
?
Mar 9, 2021 23:09
|
|
|
Fair enough but you are still comparing an apartment to a house. You realize that you can rent an entire house, right? I have for cumulatively about 10 years. IMO it's much, much easier to be picky about your neighbors when looking to rent a house vs buy. For one thing if they suck it's easier to move. Also you can consider way more houses to rent that you would never buy. Slow-burn foundation issues? Not my fuckin problem! And if it's in a good spot with good neighbors and otherwise nice to live in, I'll gladly rent it for 5 years and leave before it sinks into the ground. There are plenty of non-financial things to consider when thinking of rent vs buy. But picking your neighbors is a very weird justification for buying.
|
|
#
?
Mar 9, 2021 23:21
|
|
|
alnilam posted:Some of you are basically saying buying a house lets you get out of lovely college slums, which sounds like a viewpoint of someone who hasn't rented since they were in college. There are plenty of people who rent houses in nice neighborhoods, are engaged with their community, are friends with their neighbors. It's easy to not be aware of this unless you go around asking all your neighbors if they own or rent. And being surrounded by college rabble and loud parties is usually only a problem if you’re within a mile of campus. My last apartment (where we stayed for six years) was a couple blocks outside the party radius in a very nice neighborhood. It was a quadplex, so couldn’t pass as homeowners, but these were huge units suited for family living. Builder grade kitchen and bathrooms, but otherwise gorgeous (Craftsman era with hardwood floors). I loved this neighborhood, but while we could afford to rent in it, we couldn’t afford to buy anything in it other than the huge gross foursquare fixer upper that I loved but my husband hated. The nearby neighborhood where we could more easily afford to buy has way more rentals, with lots of the houses chopped up into multiple units in addition to a decent number of small apartment buildings, but since it’s even further from campus there’s just a smattering of mostly grad students (and no ragers, only fire pit gatherings) and more long term tenants who are very much part of the community (most landlords love long term tenants who pay rent on time and aren’t slobs or creeps). It’s a wonderful neighborhood to own in, but also would be nice to rent in for the long haul, especially if you get a whole house or at least a landlord who’s willing to jettison lovely tenants causing problems in multi-unit buildings with shared walls/entrances.
|
|
#
?
Mar 9, 2021 23:29
|
|
|
Another “weird thing” I have started to see on Zillow is McMansions priced at literally double what they should be worth. For instance: https://www.realtor.com/realestateandhomes-detail/95-Knoll-Ridge-Ct_Middletown_CT_06457_M44719-64411 Is this just people swinging for a home run? This is not the fancy fancy part of Connecticut. Around here a million dollars gets you a nice house on waterfront or 20+ acres generally.
|
|
#
?
Mar 10, 2021 00:01
|
|
|
smackfu posted:Another “weird thing” I have started to see on Zillow is McMansions priced at literally double what they should be worth. I love clicking the "property value" thing on that very site and it says $500k.
|
|
#
?
Mar 10, 2021 00:04
|
|
|
The Zestimate is of course exactly $1,173,807 on a $1.2 million listing.
|
|
#
?
Mar 10, 2021 00:06
|
|
|
smackfu posted:Another “weird thing” I have started to see on Zillow is McMansions priced at literally double what they should be worth. There are at least 3 different types of marble flooring in that place on the first floor alone and the photos show snow on the ground too. That place must cost a fortune to keep warm in the winter.
|
|
#
?
Mar 10, 2021 00:11
|
|
|
AmbientParadox posted:There are at least 3 different types of marble flooring in that place on the first floor alone and the photos show snow on the ground too. That place must cost a fortune to keep warm in the winter. The flooring appears to be the only semblance of any character or soul or whatever in that awful, awful encapsulation of early 2000s builder grade Mc. It sold in 2010 for $180/sq. ft. I'm not seeing how they think it could possibly be worth $339 now. On half an acre. With that early 2000s corner tub thing. And no door between the master BR and bathroom. Perhaps they think the pool/landscaping makes the difference?
|
|
#
?
Mar 10, 2021 00:25
|
|
|
alnilam posted:Some of you are basically saying buying a house lets you get out of lovely college slums, which sounds like a viewpoint of someone who hasn't rented since they were in college. There are plenty of people who rent houses in nice neighborhoods, are engaged with their community, are friends with their neighbors. It's easy to not be aware of this unless you go around asking all your neighbors if they own or rent. I am renting and have always rented and am 15 years past college
|
|
#
?
Mar 10, 2021 00:42
|
|
|
gay_crimes posted:I am renting and have always rented and am 15 years past college But that's going to change, gay_crimes!
|
|
#
?
Mar 10, 2021 00:44
|
|
|
Just checked Zillow and there are only 39 houses currently available to rent in the entire city and only 3 are under $2k/mo, lmao.
|
|
#
?
Mar 10, 2021 00:48
|
|
|
alnilam posted:which sounds like a viewpoint of someone who hasn't rented since they were in college. Hell of an assumption  alnilam posted:You realize that you can rent an entire house, right? When I rented a house for a year it was easily in the top 3 worst rentals I've ever lived in. BYOF is not fun when that's a surprise. Bring your own fridge  It was also 4 miles from any campus in a residential neighbourhood, surrounded by a 50/50 of renters and owners, so 
|
|
#
?
Mar 10, 2021 01:06
|
|
|
Sirotan posted:Just checked Zillow and there are only 39 houses currently available to rent in the entire city and only 3 are under $2k/mo, lmao.
|
|
#
?
Mar 10, 2021 01:36
|
|
|
I'm just not sure what other set of circumstances would lead someone to believe that buying a house is a cure for bad neighbors that renting will forever doom you to endure
|
|
#
?
Mar 10, 2021 01:36
|
|
|
Dik Hz posted:Zillow doesn't make money off of renters. Zillow is a terrible place to find houses for rent. Really? I always considered Zillow one of the standard sites to find 'for rent' that I recommend to friends along with hotpads, domu, and apartments.com. I considered them all a step above Craigslist / FB marketplace. I'm not a landlord though so I dunno what the professionals usually list on. e: Also separate question for the thread. I am now under contract on a condo, and one of the things I'm most uneasy about is the building has a rental cap that is currently met. The cap is 15% of units. I hope I don't need to rent out in the next year or two because I would be screwed if it's still meeting a cap. I have no foreseen need to rent out but it still is not great, not a dealbreaker. Any opinions? Inner Light fucked around with this message at 01:47 on Mar 10, 2021 |
|
#
?
Mar 10, 2021 01:44
|
|
|
alnilam posted:I'm just not sure what other set of circumstances would lead someone to believe that buying a house is a cure for bad neighbors that renting will forever doom you to endure Cities, towns, housing stock and zoning/zoning history vary wildly, I'm glad your rental house where you live is meeting your immediate needs but almost none of your situation applies to mine Someone in the exurbs of cheyenne wyoming is not going to have relevant advice to someone living in a midtown manhattan co-op, for example I think we can agree to disagree
|
|
#
?
Mar 10, 2021 01:49
|
|
|
Inner Light posted:Really? I always considered Zillow one of the standard sites to find 'for rent' that I recommend to friends along with hotpads, domu, and apartments.com. I considered them all a step above Craigslist / FB marketplace. I'm not a landlord though so I dunno what the professionals usually list on. I think it's pretty regional. Craigslist was better where I'm from, but where I am now it's sort of a tie between Craigslist and Zillow. Friends elsewhere have told me entirely other ones are dominant in other cities.
|
|
#
?
Mar 10, 2021 01:50
|
|
|
Inner Light posted:Really? I always considered Zillow one of the standard sites to find 'for rent' that I recommend to friends along with hotpads, domu, and apartments.com. I considered them all a step above Craigslist / FB marketplace. I'm not a landlord though so I dunno what the professionals usually list on.
|
|
#
?
Mar 10, 2021 01:51
|
|
|
Hadlock posted:Cities, towns, housing stock and zoning/zoning history vary wildly, I'm glad your rental house where you live is meeting your immediate needs but almost none of your situation applies to mine I agree that it varies regional. But i will not agree to disagree with objectively wrong advice. If nothing else, when you buy a house, if bad neighbors move in you are stuck with them. Much moreso than if you rent. It's a real risk of owning. Plenty of very nice reasons to buy a house! But neighbors are absolutely not one.
|
|
#
?
Mar 10, 2021 01:56
|
|
|
I've used zillow but hot pads and craig's list seemed to be the best places for success in my experience. I feel like I've been lucky in most of my renting history but I've had a few bad neighbors and had one owner sell the place 2 years in. After 15 years I would just like to be in my own place so that I can tailor it to my lifestyle and make it my own without the worry of someone pulling the rug out from under us. I've rented apartments, townhouses, single family homes etc and I'm tired of absolute bottom of the barrel finishings and maintenance. I'm tired of paying for someone else's mortgage.
|
|
#
?
Mar 10, 2021 01:56
|
|
|
alnilam posted:I agree that it varies regional. But i will not agree to disagree with objectively wrong advice. If nothing else, when you buy a house, if bad neighbors move in you are stuck with them. Much moreso than if you rent. It's a real risk of owning. I totally get what you are saying and maybe it's not your experience or your market but renters are more likely to make bad neighbors than owners. This has been my experience in my market as well as the 500-mile away market I used to live in. Everyone in the last neighborhood knew "the rental house". Condos/apartments I've liven in were significantly worse if they were predominantly rented out, etc. It's not nice to say. It's not polite to recognize. But it's been an obvious reality. In a thread where we're talking about potentially buying the most expensive thing most people will ever buy this merits a discussion.
|
|
#
?
Mar 10, 2021 02:04
|
|
|
Yeah i wasn't going to get into how it's some classist poo poo to say either but it's one of the reasons I'm a bit heated about it Either way it's still not good advice even itt , plus the purpose of this thread isn't to convince people that they should buy a house - the OP does a good job of being straight about the ups and downs and that buying is not always the answer. If someone is deciding to rent vs buy, "you can get better neighbors" is not really a thing. "Try to gauge whether the neighbors are cool" is decent advice, though it's hard to do. And like I said if anything the risk of bad neighbors is higher with you buy because you can't easily move away from unexpected bad neighbors.
|
|
#
?
Mar 10, 2021 02:10
|
|
|
The properties I've rented have had the bare minimum or worse for maintenance, the appliances are the bottom of the barrel, handymen and contractors are the cheapest possible, the repairs are inspected by me and reported on to unlistening ears. I am unknowingly exposed to health hazards, I am liable if I take matters into my own hands to fix things instead of waiting for the dumbass helper that never shows up. I'm stuck with lovely light fixtures that are partially broken and older than I am. If I am lucky enough to have a yard, my garden doesn't move with me. I cannot rip out the carpets I hate, I cannot have the animals I want, I cannot improve my living space. I am forced to sit still in a place that deteriorates and rots and becomes less safe over time, or I move and my rent goes up 1k/month for another lovely property that was recently cleaned to the minimum acceptable for photos and a quick five minute tour. And this is all when avoiding the big property management companies and apartment complexes, I've been renting exclusively from individuals after having been wrongly evicted with all of the my poo poo thrown out of my apartment despite never being late on rent by a big property management company for complexes. That was the straw that broke the camel's back for me regarding property management companies, and the big water stain from a leak that was fixed a year ago but without the wall ripped out or the drywall replaced which is probably spreading mold along with rot in the bathroom is my final straw with all landlords.
biceps crimes fucked around with this message at 02:14 on Mar 10, 2021 |
|
#
?
Mar 10, 2021 02:11
|
|
|
alnilam posted:I agree that it varies regional. But i will not agree to disagree with objectively wrong advice. If nothing else, when you buy a house, if bad neighbors move in you are stuck with them. Much moreso than if you rent. It's a real risk of owning. Yeah I think you guys are touching on different things. Generally owners are going to have their poo poo together more, so your likelihood of poor neighbors is lower. On the flip side, if you rent and have bad neighbors you move. If you own and have bad neighbors you’re probably cursed to deal with it for forever.
|
|
#
?
Mar 10, 2021 02:13
|
|
|
gay_crimes posted:The properties I've rented have had the bare minimum or worse for maintenance, the appliances are the bottom of the barrel, handymen and contractors are the cheapest possible, the repairs are inspected by me and reported on to unlistening ears. I am unknowingly exposed to health hazards, I am liable if I take matters into my own hands to fix things instead of waiting for the dumbass helper that never shows up. I'm stuck with lovely light fixtures that are partially broken and older than I am. If I am lucky enough to have a yard, my garden doesn't move with me. I cannot rip out the carpets I hate, I cannot have the animals I want, I cannot improve my living space. I am forced to sit still in a place that deteriorates and rots and becomes less safe over time, or I move and my rent goes up 1k/month for another lovely property that was recently cleaned to the minimum acceptable for photos and a quick five minute tour. And this is all when avoiding the big property management companies and apartment complexes, I've been renting exclusively from individuals after having been wrongly evicted with all of the my poo poo thrown out of my apartment despite never being late on rent. That was the straw that broke the camel's back for property management companies, and the big water stain from a leak that was fixed in summer and is probably spreading mold along with rot in the bathroom is my final straw with all landlords. See these are all very valid reasons to want to buy
|
|
#
?
Mar 10, 2021 02:13
|
|
|
Annoyances of living next to a low level weed dealer vs the threat of your sixty year old cardiologist neighbor suplexing you over a long running lawncare dispute
|
|
#
?
Mar 10, 2021 02:18
|
|
|
PCjr sidecar posted:Annoyances of living next to a low level weed dealer vs the threat of your sixty year old cardiologist neighbor suplexing you over a long running lawncare dispute I live in the suburbs and I have a small fenced in yard. I've got out for an hour and left my dog outside and both times I've had the police called to my house. Meanwhile my back yard neighbor literally has a drum of oil leaking into my backyard and the city won't do anything.
|
|
#
?
Mar 10, 2021 02:23
|
|
|
Jerk McJerkface posted:I live in the suburbs and I have a small fenced in yard. I've got out for an hour and left my dog outside and both times I've had the police called to my house. I have to ask......do you know if your dog goes ballistic when you leave and annoys the gently caress out of your neighbors? Because that's the really obvious answer here.
|
|
#
?
Mar 10, 2021 02:30
|
|
|
Motronic posted:I have to ask......do you know if your dog goes ballistic when you leave and annoys the gently caress out of your neighbors? Because that's the really obvious answer here. My dog doesn't bark any more than the other dogs on the street. It wasn't clear from my post but I meant I've left her outside for a quick errand two times (usually I put her in the basement when I go out) and both times I left her out people called the police with in a few minutes. My point is neighbors stink.
|
|
#
?
Mar 10, 2021 02:41
|
|
|
I mean.....obviously YOUR neighbors stink but this whole thing sounds super strange to me. Especially when you say other neighbors have dogs.
|
|
#
?
Mar 10, 2021 02:48
|
|
|
PCjr sidecar posted:the threat of your sixty year old cardiologist neighbor suplexing you over a long running lawncare dispute https://www.gq.com/story/inside-rand-pauls-neighborhood-fight (The article is not good but linking it for the photo and summary) Inner Light fucked around with this message at 03:21 on Mar 10, 2021 |
|
#
?
Mar 10, 2021 02:53
|
|
|
Motronic posted:I mean.....obviously YOUR neighbors stink but this whole thing sounds super strange to me. Especially when you say other neighbors have dogs. Ages ago I watched some dog behavior show episode and it was about a dog that had severe separation anxiety and would bark its head off whenever the owner left the apartment building. She didn’t know it was a problem until the neighbors complained because the dog was fine when she was home and she never witnessed it barking its head off for hours on end when she was away. Jerk, you might want to put a camera on the dog when you’re gone so you can see what she’s actually doing. That said, your neighbors are still loving dicks for immediately calling the cops instead of talking to you directly about any annoying/objectionable behavior your dog might be exhibiting when you’re not around. Anyways I have chill neighbors, owners and renters alike. We don’t call the cops on each other for dumb poo poo. One time the guy on the end of my block was doing a literal burn pile in his backyard (that was probably illegal because major cities don’t usually allow burning as a disposal method) and my first thought was, “nice, good to know we’re cool with burn piles here” because I’m secretly a farm girl.
|
|
#
?
Mar 10, 2021 03:50
|
|
|
I've generally had good experiences renting... when I've been renting small, budget apartments. Trying to rent anything bigger or nicer has always been exponentially more expensive for vastly worse service.
|
|
#
?
Mar 10, 2021 03:55
|
|
|
Ugh talking to mortgage brokers and they all seem surprised at how high my offer was for that area $540k in a neighborhood that according to them has never gone above $500k. My offer also included up to $20k out of pocket if the appraisal didn't hit the offer price, which according to my agent, it probably won't, although it also probably won't be lower by more than $20k either. I'll say if this deal falls through because of the inspection or financing contingency I'll probably be relieved. Sellers were a nice boomer couple who wanted to downsize and seemed happy that the house was going to a family with kids.
|
|
#
?
Mar 10, 2021 03:58
|
|
|
Motronic posted:I totally get what you are saying and maybe it's not your experience or your market but renters are more likely to make bad neighbors than owners. This has been my experience in my market as well as the 500-mile away market I used to live in. Everyone in the last neighborhood knew "the rental house". Condos/apartments I've liven in were significantly worse if they were predominantly rented out, etc. So, renters make far better neighbors.
|
|
#
?
Mar 10, 2021 06:05
|
|
|
|
| # ? May 17, 2024 03:17 |
|
|
Just heard our most recent offer was the highest figure at $100k over with an escalation to $140k over. Waived inspection since it had one. 20k earnest. 10k low appraisal cash. We were beaten by a lower offer but with more cash towards low appraisal and 25k early release earnest. 9 offers submitted on this house. Feels better to get close but still sucks to miss another one.
|
|
#
?
Mar 10, 2021 06:20
|
|