Tips for moving out?

**Spaz** · 02-29-2008, 01:36 PM

Originally Posted by DanWS6

All of us idiots who have been renting are just offering our .02 about how much of a waste it is.

If I had bought a home when I went off to college, had roommates during college, I'd be in a lot different position than I am now. I figure the 4 years I've been renting I've spent around $25k on rent.. which would've gone quite a ways towards paying off a mortgage.

it's not a waste... when shit breaks you don't pay to fix it... and shit breaks often...

**Spaz** · 02-29-2008, 01:37 PM

Originally Posted by Spaz

it's not a waste... when shit breaks you don't pay to fix it... and shit breaks often...

a half dozen one way and six the other...

**GULLETT17** · 02-29-2008, 01:40 PM

Originally Posted by DanWS6

All of us idiots who have been renting are just offering our .02 about how much of a waste it is.

If I had bought a home when I went off to college, had roommates during college, I'd be in a lot different position than I am now. I figure the 4 years I've been renting I've spent around $25k on rent.. which would've gone quite a ways towards paying off a mortgage.

yeah, definately a better choice, if the situation allows it.

**GULLETT17** · 02-29-2008, 01:40 PM

Originally Posted by Spaz

it's not a waste... when shit breaks you don't pay to fix it... and shit breaks often...

lol good point

**00redws6** · 02-29-2008, 01:42 PM

I would suggest trying to buy a cheaper 2 unit house. live in the smaller unit and rent out the bigger one to cover a decent amount of your payments.

**Spaz** · 02-29-2008, 01:43 PM

if your single... and make less than $55,000.00 a year... forget about buying a house... with renting you still can save up...

**Spaz** · 02-29-2008, 01:43 PM

Originally Posted by 00redws6

I would suggest trying to buy a cheaper 2 unit house. live in the smaller unit and rent out the bigger one to cover a decent amount of your payments.

OH HELL NO!!! then the water heater or some thing takes a shit... now you're fucked!!!

**LS2Tuner** · 02-29-2008, 01:46 PM

Yes apartment SUCK ASS!! Only lived in one once and NEVER again.
-The first and major problem I had was with my car! Door dings and the worst is kids playing in the parking lot throwing shit etc. I almost went to jail a couple times.
-Second is waking up to alarms and stereos and all hours randomly.
-Third NO privacy as in being able to listen to your home stereo.....
-Fourth you can't control your neighbors.

As bad as the house market is right now you can find rental houses for DIRT cheap or even lease one. Shit there are houses that have been sitting empty for months waiting for renters.

I would lean that way if I was you.

**00redws6** · 02-29-2008, 01:47 PM

Originally Posted by Spaz

OH HELL NO!!! then the water heater or some thing takes a shit... now you're fucked!!!

true if something goes wrong, if not after a few years you can move into your own place and now have a 2 unit investment property.

**Spaz** · 02-29-2008, 01:49 PM

Originally Posted by 00redws6

true if something goes wrong, if not after a few years you can move into your own place and now have a 2 unit investment property.

i dunno man... i work one full time job... i'd not like another one... plus if poepl decide not to pay you rent... or pay you late... again you are fucked... and if they move out and no one moves in for a month or two...

i work in the moving industrie... i work for my fathers moving company... i deal with allll shit shit on a daily basis...

**00redws6** · 02-29-2008, 01:56 PM

Originally Posted by Spaz

i dunno man... i work one full time job... i'd not like another one... plus if poepl decide not to pay you rent... or pay you late... again you are fucked... and if they move out and no one moves in for a month or two...

i work in the moving industrie... i work for my fathers moving company... i deal with allll shit shit on a daily basis...

I work for a real estate appraisal comapny, some of my classes i had to take was on investing and this is what was suggested to me.

I too also see a lot of problems with having tennents, i also have seen a lot of times when it has worked out. The other people that work in the office i do, have investment properties and i do not remember any time in the past 6 years themhaving a costly problem with one of the houses or tenents. Maybe luck on thier part or a good job of research of the propery and applicants i dont know.

**1MileCrash** · 02-29-2008, 02:02 PM

considering how much i hate my upstairs tenants you can come rent my 1 bedroom apartment for $275.00 per month utilities not included. course you probably aren't in central wisconsin either.

**SiggyZ** · 02-29-2008, 02:06 PM

He might be a bit young right now, but I wouldn't live in a rent situation for several years. A few years perhaps, get a good steady job, and then looking into buying. You'll never see that money you pay for rent ever again. I bought my house for about $73k and after pulling the carpet, painting, landscaping the yards a bit and remodeling the kitchen, I could get anywhere between $90-100k for it.

**Kjz99z28** · 02-29-2008, 02:43 PM

If at all possible, it usually makes the most financial sense to just buy a home, because when/if you need to move, you can then sell it and see most, if not more, of that money back. With renting... sure you don't have to pay for stuff when it breaks, but it always bothered me because it's never really yours, it seems so much less private (I grew up in the country too, so that could have a lot to do with that).. and when you leave you don't get any money back.

**1MileCrash** · 02-29-2008, 02:54 PM

actually now is probably the best time to buy a house. or this spring/summer.

everyone is going to be doing their best to sell their homes with the mortgage shortcomings and foreclosures so it will be a buyers market.

and like they always say (even though to some extent it's not entirely true...see hawaii) they aren't making any more land. land is always a prime investment.

**DanWS6** · 02-29-2008, 03:05 PM

I'm hoping rates drop again this spring/summer. My biggest challenge would be getting a loan being that I'm self employed right now. The one thing I've got going for me is the 20% down payment and an exceptional credit score (or debt score depending how you look at it).

**Jays00ss** · 02-29-2008, 04:19 PM

Originally Posted by Spaz

heh... 9 grand is going to be about $50.00 less a month on a 30 year mortgage on a 150,000.00 fixer upper... not a huge difference... still a monthly payment over $800.00...

then you have closing costs... property taxes... electric... trash removal... possibly water and sewer fees...

now he's looking at well over $1,000.00 a month at 19 years old... then when he turns 21 he willl want to go out drinking and what not... now he is financially strapped and tied down and can't have fun...

I am not talking a $150,000 home. There are plenty out there for 80 to 125K at least around here there is. Granted no shangri la, But it would sure beat putting up with all the crap at an apartment and you can at least have a garage, He can split expenses with a room mate (That's what I did and the house was in my name) Put some elbow grease into the thing and turn it in a few years and make 20-30K.

**LS1WS6** · 02-29-2008, 06:00 PM

I live in a co-op, basically an apartment you buy,similar to a condo but different rules to go by. As for the apartment comments, well that all depends on where you live and how the place is built. I can hardly hear my neighbors except for the slamming doors(springs on doors to automatically close them is you let go of them when they are open so some jerkoffs just let it go once their out the door) but other than that i have no problems with them and its actually quite nice. The part about door dings and kids playing, i have that problem but its not too bad. So right now im not renting but paying a mortgage and i can sell it anytime i want, though due to it being a co-op i have to get approval first and the new people have to be approved to move in.

I think the biggest question everyone overlooked was
What kind of job do you have to support the bills your going to have?
9 grand isnt shit for a down payment in new jersey, hell some people pay more than that a year in property tax but your in iowa which has to be a whole hell of alot cheaper to live.

Owning will always be better than renting in the long run. The main things you need to do are
1. Do you have a good enough job(or skills if you loose your current job) to live ok on and i dont mean,"yea i can afford it but if something bad happens(car accident-so no car and have to buy one or god forbid you get hurt and cant work) you can affort it for a few months without income.
2.Find out your credit rating and how much of a loan you might be approved for.
3.Start pricing houses in your area or maybe downsize a bit and get a condo/townhouse for now to build equity for a future house(thats what im doing now)
4. Really sit down and figure out the bills you will be paying and how much it will really cost to run your place(you will have a mortage and property tax, not to mention electric/gas,insurance,water/sewer,cable,phone etc)
5.Like mentioned before, think about what might break and if you would have to hire someone to fix things-how much that would cost etc

so you can see there are alot of things to consider if your going to buy

**SeVeReDiStOrTiOn** · 02-29-2008, 06:29 PM

Originally Posted by Smkn_TA

I got 9g's saved up. Looking for either an apartment or a condo. Do you go furnished or unfurnished? Is apartment life that bad? Is it better just to get a house? I am only 19 but I need the space! Is there such thing as classy apartments? Thanks! Give me all the lessons you guys learned when you moved out! Sock it to me guys.

Looks like you can afford it so get into a house even if you have to rent one for awhile. Apartments really suck especially if you get loud/bad neighbors...everyone is so close together it makes life hell. If for nothing else do it for your car...cars at apartments get damaged all the time and most won't even let you change your oil in your parking spot. Some very nice apartments will give you a small garage but the rent would be as much as a house...renting or owning.

**t-rock** · 02-29-2008, 07:17 PM

Originally Posted by Spaz

heh... 9 grand is going to be about $50.00 less a month on a 30 year mortgage on a 150,000.00 fixer upper... not a huge difference... still a monthly payment over $800.00...

then you have closing costs... property taxes... electric... trash removal... possibly water and sewer fees...

now he's looking at well over $1,000.00 a month at 19 years old... then when he turns 21 he willl want to go out drinking and what not... now he is financially strapped and tied down and can't have fun...

well put