4 ms·
Renting is underrated but owning is nice too if you want to root. However I think a lot of renters or people that complain they can’t afford a house also forge
by nemo44x 6y ago
Renting is underrated but owning is nice too if you want to root. However I think a lot of renters or people that complain they can’t afford a house also forget about the costs of property tax and maintenance. Those are 2 costs that never end and don’t remain fixed (in most places) over time.
For instance, anywhere reasonably commutable to NYC and close to a train line is going to probably have 10’s of thousands a year in property taxes...
- bombcar 6y agoAnd anyone who owns a house (especially an older one) knows that property taxes are relatively minor compared to maintenance costs (which are erratic and often unaccounted even by small landlords). They really add up.
- nemo44x 6y agoDepends where you live really. Live in an in-demand suburb of NYC and there’s a good chance you’re paying 20-40k a year in property taxes. Certain parts of north New Jersey and southern Connecticut contain really pricy real estate compared to national averages, for example. Maintenance will be far below that most years. But if you can afford a million dollar+ piece of real estate then a few k in maintenance per year isn’t an issue. In certain areas the land is worth more than the structure on it. The east coast has a good bunch of that.
- aidenn0 6y agoI now pay more per year in property taxes outside of town than I did for rent on my first apartment (~15 years ago) walking distance from downtown. Granted it's considerably less than what rent probably is on that apartment now; rent has roughly doubled in that time.