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I remember I was getting into a debate with a friend for rent X buy option, and when I told him besides all the taxes you are going to pay that is sometimes plu
by tamimio 3y ago
I remember I was getting into a debate with a friend for rent X buy option, and when I told him besides all the taxes you are going to pay that is sometimes plus maintenance fees is equal to a rent, you actually never own your house the same way you own other things, he didn’t believe it first. Not to mention you are also restricted to “neighborhood laws” that even prevent you from changing your replica looking house into something unique or authentic, not even your lawn! Good thing in Europe and probably most of the world these nonsense laws aren’t there, and you still see good looking authentic houses too.
- nerdchum 3y agoMy aunt owns a bunch of paid off homes she rents. She says her profit is about 20%. Which is kind of insane considering how high rent is and that these are paid off properties and she puts a fair amount of work into the management of them.
- tamimio 3y agoYep I believe her, I heard similar stories from some relatives, the system is rigged regardless from whatever angle you look at it.
- nomel 3y agoRenting and “owning” are very different, if you want to modify anything. And, not everyone is in an HOA. And, when comparing cost, you need to consider rent is 100% loss. Owning rarely is, with the usual being between 0% and gain. I lost 400k renting in silicon valley. If I put 400k into a house, I would have made 400k.
- wintermutestwin 3y ago>Good thing in Europe and probably most of the world these nonsense laws aren’t there Check out Portugal's crazy rules regarding ruin properties where you have to restore shitty stone buildings with insane limitation instead of building a new greenfield home on the land.