Some of the posts made me curious and especially at a time where United States residents are subject to a housing crisis....whether or not you're a U.S. citizen, feel free to share if you rent or own
I don't "own" but spend the summer at my parent's house with no rent
The other eight months of the year I rent an apartment to get me through college so I should say I rent and have free residency a third of the year.
Posted by Toetapper (Member # 6473) on :
Neither, really; I inherited. It's a house on a lake, couldn't hardly pass it up...nobody warned me about property taxes, though; it's the municipality's way of letting me know that I'm only renting, even if I hold the deed.
Posted by footjoyboy (Member # 26478) on :
I own, and have it paid off; vehicles too.
_fjb_
Posted by Salvy_Mic (Member # 13384) on :
I rent a small studio apartment.
Posted by Wing-Washer (Member # 3013) on :
career military and married == rental home or base housing
Posted by FtLckr26 (Member # 13998) on :
Renting. I'm in the military and will be moving to Japan soon. Haven't stayed in one place for more than 2 years.
Posted by Elvzz (Member # 14178) on :
FtLckr26-
If you are in Okinawa you have to get to Tokyo if you are in Roppongi you hit the mother load.
You will love Roppongi - in Tokyo - U always need a meeting place like in Roppongi it is a Pink Almonds place. Altho if you are anything like me - I got tired of seeing "round-eye" and went to Shibuya, Shin-ju-ku and Yebis, mostly. There is a french quarter, Nakagawa, which helped me. I miss the impeccable first class service.
If you are single - you can PM me - I learned all that I could because I was looking into opening a biz to assist JET/young travellers in transitioning to JP.
Posted by Cain (Member # 8492) on :
Well i own i guess even though the bank has me by the balls on the first of every month... Posted by FtLckr26 (Member # 13998) on :
quote:Originally posted by Elvzz: FtLckr26-
If you are in Okinawa you have to get to Tokyo if you are in Roppongi you hit the mother load.
You will love Roppongi - in Tokyo - U always need a meeting place like in Roppongi it is a Pink Almonds place. Altho if you are anything like me - I got tired of seeing "round-eye" and went to Shibuya, Shin-ju-ku and Yebis, mostly. There is a french quarter, Nakagawa, which helped me. I miss the impeccable first class service.
If you are single - you can PM me - I learned all that I could because I was looking into opening a biz to assist JET/young travellers in transitioning to JP.
I'll be stationed in Yokosuka (i think thats how its spelled).
Posted by LeDaemon (Member # 198) on :
We own ours. We got a fixed rate loan back in '93 and its cheaper than renting for damn sure. I don't know how so many people got suckered into the adjustable loans that's caused another one of the many problems we're now facing in the US.
Posted by sofatater (Member # 4209) on :
I own my house out right and now my truck! I just made my last truck payment three days ago!!! Posted by LeDaemon (Member # 198) on :
I remember sitting in the room with the guys closing on our house and they told me that if we were to pay an extra $60 toward the principle each month we could have our house paid off in 15 rather than 30 years. Of course I was 25 years old at the time and didn't make as much dough as I do now I didn't even think that I could possibly be living in the same place that long. Funny how fast those 15 years flew by. If I had taken that advice back then I would've been done with it this year!
Posted by bluetoelover (Member # 14736) on :
Go with a VRM Mtg and tie in to the low rates LD ! Save money on the interest your paying!
Posted by Elvzz (Member # 14178) on :
When paying extra in a depreciating market you also need to look at what you really own - friends I know in a depressed area own a mortgage with is worse than renting since there is no equity and can't walk away.(eg like a car payment, only worse).
Risk tolerance - how Suze Orman got where she is - is important. Maybe owning it out right is important, but you are giving up the interest deduction or the opp cost of that money.
Understanding schedule E is the way to wealth. To get weatlh one has to forego security in the short run whereby creating wealth ergo security in the long run.
Oh, if you start from the beginning and pay and extra (principal only) payment a year - you can shorten it about 6 years - it depends on when you make that extra payment. In numbers it all depends.
Posted by perfectpeds (Member # 29295) on :
I'm a renter which works for me as I'm single and no children. The rent is fairly low so I am able to take trips to Mexico and other exotic places for diving.
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