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Building Bag End? Did your front fall off? More leaks than a Chinese steamboat? Show us your pinterest projects!

How do you house, brah?

Own it
23
68%
Rent it
7
21%
:crang: in mom's basement
2
6%
:dong: grabbing frat house
1
3%
At school
0
No votes
I'm nomadic
1
3%
 
Total votes: 34
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troyguitar
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Thu Dec 20, 2018 6:45 pm

I fat fingered a digit upon re-examination, I thought that outcome seemed a bit worse than it should be... the real delta isn't $72k, it's only $60k.

Sixty thousand fucking dollars to have a garage. I think I can go without it.

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wap
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Thu Dec 20, 2018 7:27 pm

Apex wrote:
Thu Dec 20, 2018 6:16 pm
That place is awesome. I'd 5/7 live there.
:dat:
Doesn't seem like it would need that much work. Plus, it's got a 2 car garage.
:wap: Where are these mangos?

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wap
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Thu Dec 20, 2018 7:29 pm

troyguitar wrote:
Thu Dec 20, 2018 6:30 pm
golftdibrad wrote:
Thu Dec 20, 2018 6:18 pm


:nope:

just rent man
:dat:

I just ran the numbers for a 5 year scenario. With current prices/rates and assuming 2% appreciation on nearly everything (unlikely on the house itself, but trying to tip the scales slightly in favor of owning), it would cost $72506 more to buy that house than rent the apartment in town. We could rent and go to Paris every year and still be better off than buying that fucking house - and that's valuing all of my own labor maintaining/repairing the thing at zero.
:math:
If renting is what it takes to get you guys back to Paris then I'm in favor of renting, at least for the medium-term.
:wap: Where are these mangos?

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Detroit
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Thu Dec 20, 2018 8:53 pm

I would not buy anything in this market. Selling and renting is the smartest thing you can do financially right now.
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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troyguitar
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Thu Dec 20, 2018 8:56 pm

I ran 10 and 20 year estimates and it actually doesn't get any better in Corning. Buying starts gaining some ground past 20 years - but wouldn't break even until we're dead.

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Detroit
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Thu Dec 20, 2018 8:59 pm

troyguitar wrote:
Thu Dec 20, 2018 8:56 pm
I ran 10 and 20 year estimates and it actually doesn't get any better in Corning. Buying starts gaining some ground past 20 years - but wouldn't break even until we're dead.
In a few years, the equation will likely be different.

Shit is going to come down.
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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troyguitar
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Thu Dec 20, 2018 9:19 pm

Detroit wrote:
troyguitar wrote:
Thu Dec 20, 2018 8:56 pm
I ran 10 and 20 year estimates and it actually doesn't get any better in Corning. Buying starts gaining some ground past 20 years - but wouldn't break even until we're dead.
In a few years, the equation will likely be different.

Shit is going to come down.
It's not the prices at all, it's the taxes plus interest plus LACK of appreciation. 4-5% taxes plus 5% interest does not compute when you only make 1-2% in appreciation.

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Fri Dec 21, 2018 1:21 pm

wap wrote:
Thu Dec 20, 2018 7:29 pm
troyguitar wrote:
Thu Dec 20, 2018 6:30 pm


:dat:

I just ran the numbers for a 5 year scenario. With current prices/rates and assuming 2% appreciation on nearly everything (unlikely on the house itself, but trying to tip the scales slightly in favor of owning), it would cost $72506 more to buy that house than rent the apartment in town. We could rent and go to Paris every year and still be better off than buying that fucking house - and that's valuing all of my own labor maintaining/repairing the thing at zero.
:math:
If renting is what it takes to get you guys back to Paris then I'm in favor of renting, at least for the medium-term.
If I was to put myself on a path to Paris, it'd be renting a small place, driving one car, and throwing a little more at the market right now while it's down.
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Acid666
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Wed Dec 26, 2018 1:22 am

Some kids decided to push over my mailbox last week. Meh, I didn't really care because it was rotting anyways. It's just a cheap box with two square tubes running into cement. When I dug it up I found that it's actually only about 8" deep of cement. They only went that deep because where the put the mailbox, there's something that's concrete under it really close to the surface. I didn't care to find out what it was, so I just moved my mailbox to the other side of the sidewalk.

$30 post from teh Lowez, had the Quikrete from our fence install. Cheap fix.
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Bitch was rotted. Making it easy for the neighborhood kiddos to take their aggression out on it.
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Wed Dec 26, 2018 2:29 pm

Desertbreh wrote:
Thu Dec 20, 2018 3:25 am
troyguitar wrote:
Wed Dec 19, 2018 11:02 pm
:butwhy:
But why not? They don't need a "home office," its temporary, and renting "room for guests" is for chumps.
:dat:

The three cars will all live inside a nice locked up garage at this place. The working on cars thing will definitely take a hit, but I have friends'family with room for that sort of stuff. It will only be for a year or two.

Regrettably, the one bedroom is all we ended up being able to "afford" in our budget in the areas we want to be in. The whole reason for the move (and for the $177K price) is that the townhouse we live in is an hour in traffic away from everything. Fuck that.

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Wed Dec 26, 2018 2:30 pm

Detroit wrote:
Thu Dec 20, 2018 8:53 pm
I would not buy anything in this market. Selling and renting is the smartest thing you can do financially right now.
Fingers crossed you're right.

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Wed Jan 02, 2019 12:43 pm

D Griff wrote:
Wed Dec 26, 2018 2:30 pm
Detroit wrote:
Thu Dec 20, 2018 8:53 pm
I would not buy anything in this market. Selling and renting is the smartest thing you can do financially right now.
Fingers crossed you're right.
Don't know how you can go wrong. Economy is on the verge of recession, interest rates increasing, consumer sentiment is sure to drop, property values are going to weaken. Doubt they'll tank, but it's a great time to rent something if you already cashed out. See where things are in a year or so, might be a great time to score a deal this time next year.
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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coogles
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Wed Jan 02, 2019 4:54 pm

Detroit wrote:
Wed Jan 02, 2019 12:43 pm
D Griff wrote:
Wed Dec 26, 2018 2:30 pm


Fingers crossed you're right.
Don't know how you can go wrong. Economy is on the verge of recession, interest rates increasing, consumer sentiment is sure to drop, property values are going to weaken. Doubt they'll tank, but it's a great time to rent something if you already cashed out. See where things are in a year or so, might be a great time to score a deal this time next year.
Wish I had the :balls: to do this. We'd walk with one heck of a chunk of change, but that shit isn't real unless you sell. That 0% ROI equity, doe. :facepalm:

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Wed Jan 02, 2019 4:55 pm

coogles wrote:
Wed Jan 02, 2019 4:54 pm
Detroit wrote:
Wed Jan 02, 2019 12:43 pm
Don't know how you can go wrong. Economy is on the verge of recession, interest rates increasing, consumer sentiment is sure to drop, property values are going to weaken. Doubt they'll tank, but it's a great time to rent something if you already cashed out. See where things are in a year or so, might be a great time to score a deal this time next year.
Wish I had the :balls: to do this. We'd walk with one heck of a chunk of change, but that shit isn't real unless you sell. That 0% ROI equity, doe. :facepalm:
Right. 0% until you sell.

Makes no sense if you're in a place you're happy with. Might as well just stay put.
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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coogles
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Wed Jan 02, 2019 5:05 pm

Detroit wrote:
Wed Jan 02, 2019 4:55 pm
Right. 0% until you sell.

Makes no sense if you're in a place you're happy with. Might as well just stay put.
I mean really it's a 0% return on equity regardless. If you buy a $200k home and sell it for $250k, you walk with that $50k regardless of whether you put $0 down or $40k down.

We love the place aside from the terrible garage, but we've been on the lookout for a 4 bedroom just because. Problem is, prices for a 4 bedroom place in our neighborhood have gone :fullretard:, even one that needs a good amount of work will cost you a half mil. A nice one is more like $700k on up to or over a $1M. If we had the guts to sell now and squirrel away the money until prices fall, we might be able to move into a bigger place without having the leave the 'hood.

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Wed Jan 02, 2019 5:13 pm

coogles wrote:
Wed Jan 02, 2019 5:05 pm
Detroit wrote:
Wed Jan 02, 2019 4:55 pm
Right. 0% until you sell.

Makes no sense if you're in a place you're happy with. Might as well just stay put.
I mean really it's a 0% return on equity regardless. If you buy a $200k home and sell it for $250k, you walk with that $50k regardless of whether you put $0 down or $40k down.

We love the place aside from the terrible garage, but we've been on the lookout for a 4 bedroom just because. Problem is, prices for a 4 bedroom place in our neighborhood have gone :fullretard:, even one that needs a good amount of work will cost you a half mil. A nice one is more like $700k on up to or over a $1M. If we had the guts to sell now and squirrel away the money until prices fall, we might be able to move into a bigger place without having the leave the 'hood.
Well yea, assuming you can get a mortgage with 0% down. You can't last I checked.

Prices in most desirable places have gone :fullretard:

You either sell at this high and rent until the market tanks, or buy something below market value as a fixer upper or the like. We did the latter, but spent months looking with a realtor, and got us in on our house where the previous owners weren't in touch with the neighborhood values. We got it THE DAY it listed. It's the only way to get "good deals" anymore.
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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Thu Jan 03, 2019 2:55 am

Detroit wrote:
Thu Dec 20, 2018 8:53 pm
I would not buy anything in this market. Selling and renting is the smartest thing you can do financially right now.
Hopefully I will actually make it out... but :mahtroy: luck is strong here... and I'll be paying more for rent than mortgage... however i'll be "freeing" up an enormous amount of money that I can put in savings that gives me 2% at the moment... and lack of prop taxes which are 6k a year for now...

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Thu Jan 03, 2019 9:17 am

max225 wrote:
Thu Jan 03, 2019 2:55 am
Detroit wrote:
Thu Dec 20, 2018 8:53 pm
I would not buy anything in this market. Selling and renting is the smartest thing you can do financially right now.
Hopefully I will actually make it out... but :mahtroy: luck is strong here... and I'll be paying more for rent than mortgage... however i'll be "freeing" up an enormous amount of money that I can put in savings that gives me 2% at the moment... and lack of prop taxes which are 6k a year for now...
I dunno if I'd cash out yet if I were you. Is there really a peak to your market? With Chinese investment and tech still rampant on wallstreet, I think there's still atrong upside. But I doubt you'll really give up a ton. Now is a solid time to hoard cash in savings, and that's way safer than betting it on any market.
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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Thu Jan 03, 2019 12:52 pm

max225 wrote:
Detroit wrote:
Thu Dec 20, 2018 8:53 pm
I would not buy anything in this market. Selling and renting is the smartest thing you can do financially right now.
Hopefully I will actually make it out... but :mahtroy: luck is strong here... and I'll be paying more for rent than mortgage... however i'll be "freeing" up an enormous amount of money that I can put in savings that gives me 2% at the moment... and lack of prop taxes which are 6k a year for now...
How are your taxes so low? :scrooge:

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Thu Jan 03, 2019 1:04 pm

troyguitar wrote:
Thu Jan 03, 2019 12:52 pm
max225 wrote:
Hopefully I will actually make it out... but :mahtroy: luck is strong here... and I'll be paying more for rent than mortgage... however i'll be "freeing" up an enormous amount of money that I can put in savings that gives me 2% at the moment... and lack of prop taxes which are 6k a year for now...
How are your taxes so low? :scrooge:
Bought a while back.... and Cali prop taxes are only around 1.x% and are capped to only increase up to 4% a year

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Thu Jan 03, 2019 1:05 pm

troyguitar wrote:
Thu Jan 03, 2019 12:52 pm
max225 wrote:
Hopefully I will actually make it out... but :mahtroy: luck is strong here... and I'll be paying more for rent than mortgage... however i'll be "freeing" up an enormous amount of money that I can put in savings that gives me 2% at the moment... and lack of prop taxes which are 6k a year for now...
How are your taxes so low? :scrooge:
We generally pay roughly 1.1% on the assessed value of the property.
I'm on my last bag of peas.

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Thu Jan 03, 2019 1:07 pm

Detroit wrote:
Thu Jan 03, 2019 9:17 am
max225 wrote:
Thu Jan 03, 2019 2:55 am


Hopefully I will actually make it out... but :mahtroy: luck is strong here... and I'll be paying more for rent than mortgage... however i'll be "freeing" up an enormous amount of money that I can put in savings that gives me 2% at the moment... and lack of prop taxes which are 6k a year for now...
I dunno if I'd cash out yet if I were you. Is there really a peak to your market? With Chinese investment and tech still rampant on wallstreet, I think there's still atrong upside. But I doubt you'll really give up a ton. Now is a solid time to hoard cash in savings, and that's way safer than betting it on any market.
We’ve been hit really hard with the stock market. While rest of country is “down” 15-20% most Bay Area stocks are down 40-60% this is how people get paid here. Essentially peoples pay got cut 30-60%. I can explain in another thread ... also since house prices are no longer appreciating, Chinese are no longer investing.... coupled with regular folks being pinched by 5% interest ... it is the perfect storm ... not to mention a shit Ton of new supply coming to market ...

Look at apple today $142 they peaked at $220 5 months ago

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Detroit
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Thu Jan 03, 2019 1:13 pm

max225 wrote:
Thu Jan 03, 2019 1:07 pm
Detroit wrote:
Thu Jan 03, 2019 9:17 am

I dunno if I'd cash out yet if I were you. Is there really a peak to your market? With Chinese investment and tech still rampant on wallstreet, I think there's still atrong upside. But I doubt you'll really give up a ton. Now is a solid time to hoard cash in savings, and that's way safer than betting it on any market.
We’ve been hit really hard with the stock market. While rest of country is “down” 15-20% most Bay Area stocks are down 40-60% this is how people get paid here. Essentially peoples pay got cut 30-60%. I can explain in another thread ... also since house prices are no longer appreciating, Chinese are no longer investing.... coupled with regular folks being pinched by 5% interest ... it is the perfect storm ... not to mention a shit Ton of new supply coming to market ...

Look at apple today $142 they peaked at $220 5 months ago
A market correction was due. I really think it's too early to panic that the sky is falling, but I can see your concern with slowing appreciation of real estate. Might be the right time to get out...
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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max225
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Thu Jan 03, 2019 1:16 pm

Detroit wrote:
Thu Jan 03, 2019 1:13 pm
max225 wrote:
Thu Jan 03, 2019 1:07 pm


We’ve been hit really hard with the stock market. While rest of country is “down” 15-20% most Bay Area stocks are down 40-60% this is how people get paid here. Essentially peoples pay got cut 30-60%. I can explain in another thread ... also since house prices are no longer appreciating, Chinese are no longer investing.... coupled with regular folks being pinched by 5% interest ... it is the perfect storm ... not to mention a shit Ton of new supply coming to market ...

Look at apple today $142 they peaked at $220 5 months ago
A market correction was due. I really think it's too early to panic that the sky is falling, but I can see your concern with slowing appreciation of real estate. Might be the right time to get out...
We’re correcting at twice the rate of the other parts of the country ... that’s the scary part

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Detroit
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Thu Jan 03, 2019 1:17 pm

max225 wrote:
Thu Jan 03, 2019 1:16 pm
Detroit wrote:
Thu Jan 03, 2019 1:13 pm

A market correction was due. I really think it's too early to panic that the sky is falling, but I can see your concern with slowing appreciation of real estate. Might be the right time to get out...
We’re correcting at twice the rate of the other parts of the country ... that’s the scary part
You also grew at twice the rate. Tech was insane for a while. What goes up...
Desertbreh wrote:
Tue Oct 10, 2017 7:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.

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