Comments on: Paying for the Privilege of Debt http://www.debtreductionformula.com/blog/paying-for-the-privilege-of-debt/ Reduce Expenses + Increase Income + Discipline = Get Out of Debt Fri, 05 Mar 2010 09:37:31 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Ryan Healy http://www.debtreductionformula.com/blog/paying-for-the-privilege-of-debt/comment-page-1/#comment-51032 Ryan Healy Wed, 01 Apr 2009 23:15:29 +0000 http://www.debtreductionformula.com/blog/?p=585#comment-51032 @Anita - Having looked for rental properties (single family homes), I can say there are fewer good ones out there when compared to homes for sale. If there was no inflation (meaning home prices were static), and home improvements were fairly rewarded, then it might make more sense to buy. @Carl - I agree. People move far more often than they need to, or should. Then again, I've found it's hard to find a place to live where there are decent, responsible neighbors. Currently, I'm surrounded by irresponsible dog owners and smokers who throw their cigarette butts in the yard and the street. Ugh. @Anita – Having looked for rental properties (single family homes), I can say there are fewer good ones out there when compared to homes for sale.

If there was no inflation (meaning home prices were static), and home improvements were fairly rewarded, then it might make more sense to buy.

@Carl – I agree. People move far more often than they need to, or should. Then again, I’ve found it’s hard to find a place to live where there are decent, responsible neighbors.

Currently, I’m surrounded by irresponsible dog owners and smokers who throw their cigarette butts in the yard and the street. Ugh.

]]> By: Carl http://www.debtreductionformula.com/blog/paying-for-the-privilege-of-debt/comment-page-1/#comment-51028 Carl Wed, 01 Apr 2009 16:58:11 +0000 http://www.debtreductionformula.com/blog/?p=585#comment-51028 I would still call it a Rent to Own deal. Think Rent a Center with better financing. I hope to live in my house for long time and don't have problem with the rent to own deal. When I can retire, hopefully the house will be paid for. Then I my only rent will be insurance and taxes which will be much cheaper than actual rent. The problem is people upgrade houses and never will see the day of not making that big rent payment. I would still call it a Rent to Own deal. Think Rent a Center with better financing. I hope to live in my house for long time and don’t have problem with the rent to own deal. When I can retire, hopefully the house will be paid for. Then I my only rent will be insurance and taxes which will be much cheaper than actual rent.

The problem is people upgrade houses and never will see the day of not making that big rent payment.

]]> By: Anita http://www.debtreductionformula.com/blog/paying-for-the-privilege-of-debt/comment-page-1/#comment-51026 Anita Wed, 01 Apr 2009 16:10:48 +0000 http://www.debtreductionformula.com/blog/?p=585#comment-51026 I agree with that. And when you factor in all the repairs and money spent on upkeep I don't see how you come out ahead financially by renting vs. "owning." The only real advantage to renting your house from the bank vs. a landlord is that it's harder to find decent rental property, especially when you have kids. For example, condos are always geared to singles or retired people, it seems. And if you manage to find a decent house to rent the rent is often more than what you'd pay for a mortgage. I agree with that.

And when you factor in all the repairs and money spent on upkeep I don’t see how you come out ahead financially by renting vs. “owning.”

The only real advantage to renting your house from the bank vs. a landlord is that it’s harder to find decent rental property, especially when you have kids. For example, condos are always geared to singles or retired people, it seems. And if you manage to find a decent house to rent the rent is often more than what you’d pay for a mortgage.

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