Why are people so bent on buying houses? - Page 14

TomCollins · 07-22-2012, 01:18 PM

Quote:

Originally Posted by tripseekerx

Theres a lot of stuff you say that I dont buy..I like randomly run into your posts and really think theres one missing piece in your brain..like, you have a really concrete solid view/opinion on the entire world it seems, sorta..
ANyways, me, just a dood who spent 30 years high, slackin, being a degen criminal..
Then, housing crash hits, all I have is a maxed chevron card, which i always paid the min payment, which got my credit score up to 680 after a entire life of bad debt and rippin people off, that 680 score got me a $275k ranch house for $115k, no money down loan thru USDA...Ive had it 3 years now..credit score 755, i got a backhoe on payments, worked it at $150 an hour, paid off backhoe and house...bought 05 mustang gt for cash, got 3 cards w 6 to 10k limits..The house totally hooked me up..in 4 years im better off then most of my peers, who never went to prison for thier 20's...I can degen it up more than ever now!! But I got old and tired, gonna stay by my bowl mostly now..
Point being, no matter who you are, owning actuall property, good..
Unless yu just a rockin super succesfull luckbox pimp, you need property to have some leverage..a springboard//
as smart as you are, how can yu not know that?

I can see why my posts may confuse you, it appears that you speak in a language that isn't English.

August123 · 07-22-2012, 05:20 PM

Quote:

Originally Posted by Henry17

More importantly DIY work is obvious and will have a negative impact on the value of your property. When I was looking at properties there were three that had DYI improvements and even though on at least two of them the work was decent I still counted it against the properties. Not that there aren't a tone of ****ty contractors out there but there is just a larger probability that there is going to be something wrong when you know there has been amateur work done on the property.

Well said. In rereading my posts it looks like I was saying that anybody/everybody should buy a fixer upper and do major renovations themselves, even noobs. That wasn't really my intent.

In this discussion about rent vs own, it seems like a lot of renters were giving undue weight to maintenance costs. As renters, fixes require only a phone call to the LL, and they pay for that luxury. Owners do not have that option.

Even in pristine properties, the toilet will eventually leak, the faucets will eventually drip, an outlet or switch will stop working. The disposal will wear out, the gas stove will stop firing on a ring or two, and one day the hot water heater will fail. Those are very typical of the majority of the problems owners face, and can be fixed by even the clumsiest noob via research on the internet.

Wil's deal, it seems, got away from his buddy and he got deeper and deeper into doodoo. Not good.

Have you decided on a place? How important does/did potential future maintenance issues factor into your decision?

TomCollins · 07-22-2012, 05:25 PM

Being able to fix that stuff doesn't make it any less of a pain in the ass. Even having to track down the right contractor and such is a pain if you want to get out of doing it yourself.

August123 · 07-22-2012, 05:39 PM

It is a pain in the ass to fix or have fixed but, imo, shouldn't be given too much weight as a reason not to buy.

fluorescenthippo · 07-22-2012, 07:36 PM

Didn't read the thread but isn't the best reason to buy, assuming you can afford it and will own it for 10+ years, to have something to sell later on? Much better than throwing away rent money.

Henry17 · 07-22-2012, 07:58 PM

Quote:

Originally Posted by fluorescenthippo

Didn't read the thread but isn't the best reason to buy, assuming you can afford it and will own it for 10+ years, to have something to sell later on? Much better than throwing away rent money.

No. Not always. If you read the topic you'd know that you can come out worse off owning than renting. Owning is generally best for people who need the forced savings and don't have the skills required to invest-- so a large percentage of the population-- but the idea that renting is throwing money away is just wrong.

wil318466 · 07-22-2012, 08:09 PM

Quote:

Originally Posted by August123

Even in pristine properties, the toilet will eventually leak, the faucets will eventually drip, an outlet or switch will stop working. The disposal will wear out, the gas stove will stop firing on a ring or two, and one day the hot water heater will fail. Those are very typical of the majority of the problems owners face, and can be fixed by even the clumsiest noob via research on the internet.

Wil's deal, it seems, got away from his buddy and he got deeper and deeper into doodoo. Not good.

This is completely different from what you said earlier. There is a big difference between fixing a leaky faucet and the way you implied renovating everything yourself outside of plumbing and electrical "by watching YouTube videos".

Also, the point about my buddy wasn't that "it got away from him". It was the time aspect of the job. He can do the work, but he has a job and a family, so his initial estimate of 3-5 months to remodel the new home and move into it became much longer than that and he knows what he's doing. A person who has no experience with this type of labor would probably take at least 3 times longer than a person who's experienced, for some jobs much longer than that.

Obviously you are having some issues understanding the point trying to be conveyed.

TomCollins · 07-22-2012, 09:11 PM

Quote:

Originally Posted by August123

It is a pain in the ass to fix or have fixed but, imo, shouldn't be given too much weight as a reason not to buy.

Why not? Shouldn't it just be another variable in your calculation?

August123 · 07-22-2012, 09:11 PM

Quote:

Originally Posted by wil318466

Obviously you are having some issues understanding the point trying to be conveyed.

My point is that anybody reading this can fix anything in their home thru google. What is the point conveyed I'm missing?

Your bud obviously lost focus, or gave you a bad timeframe/budget for completion.

August123 · 07-22-2012, 09:13 PM

Quote:

Originally Posted by TomCollins

Why not? Shouldn't it just be another variable in your calculation?

Definitley yes but it shouldn't overshadow why you really want to buy a place.

TomCollins · 07-22-2012, 09:13 PM

Quote:

Originally Posted by August123

My point is that anybody reading this can fix anything in their home thru google. What is the point conveyed I'm missing?

Your bud obviously lost focus, or gave you a bad timeframe/budget for completion.

LOL @ good luck replacing your AC unit through Google. Good luck putting more freon in it.

Good luck repairing your broken garage door with Google that weighs a ton.

Good luck taking down a 40 foot tree right next to your house and your neighbors house with Google.

Not only that, but you often times need equipment and renting it for a one-time job is stupid. I could put up a new fence myself, or I could hire a guy who has an auger and a nailgun rather than rent/buy them myself. Or hire a crew to repair my roof.

TomCollins · 07-22-2012, 09:14 PM

Quote:

Originally Posted by August123

Definitley yes but it shouldn't overshadow why you really want to buy a place.

It absolutely does when the value of rent vs. buy is close.

August123 · 07-22-2012, 09:20 PM

Quote:

Originally Posted by TomCollins

LOL @ good luck replacing your AC unit through Google. Good luck putting more freon in it.

Good luck repairing your broken garage door with Google that weighs a ton.

Good luck taking down a 40 foot tree right next to your house and your neighbors house with Google.

Not only that, but you often times need equipment and renting it for a one-time job is stupid. I could put up a new fence myself, or I could hire a guy who has an auger and a nailgun rather than rent/buy them myself. Or hire a crew to repair my roof.

So keeping renting from me and I'll increase your rent every September. That's the tradeoff.

BrookTrout · 07-22-2012, 09:22 PM

"Things you've repaired with Google's help" sounds like it could be an interesting thread.

August123 · 07-22-2012, 09:31 PM

Quote:

Originally Posted by BrookTrout

"Things you've repaired with Google's help" sounds like it could be an interesting thread.

Let's start with fixing a non-performing ring on a gas stove.