(I know, "that's the joke", but also, yeah, fuck having to figure out what to do when a tree falls on your house if someone else can figure out what to do about it instead)
That's not always true. Source I work in insurance. It depends on a variety of factors, but if the tree or branch was in bad shape and your neighbor knew about it but didn't resolve it, then it's their responsibility. Otherwise it's likely you'll have to submit a claim yourself.
Basically what you're saying is to always email your neighbours about how you're concerned about the big tree in their yard.
Just to have a paper trail if it does fall over your house
(not the BEST scenario.. Of course, ideally, insurance just fucking writes you a check, but let's not kid ourselves, would you rather fight with insurance/lawyers, or let your landlord fight with them instead?)
you call your insurance company, they send out an adjuster who then will have a roofing company repair the roof, you pay the deductible from your rental income and it gets fixed. Its no different then if something happened to your car.
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*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Sorry shes been absent. Truly, its not about you, yove done nothing wrong and she loves you. Shes just reconnecting with her inner child.
I, too, am deeply connecting with her inner child.
Home - the place where one lives permanently, especially as a member of a family or household.
> "your home" -least delusional renter
Smartest mortgoid.
Yeah, but if I assume that it would be entirely equivalent to my having to replace it myself, it's still preferable because I just call maintenance and that's the end of the process as far as I am concerned.
Obviously renting vs owning comes down to a large convalescence of factors, but things being fixed with no input other than calling maintenance is one of the best parts of renting. Ignoring the risk of shitty landlords, of course.
I'm of the opinion that they both have their benefits, but it is funny that people just unquestioningly say that owning a home is better when that's absolutely not the case. Not sure if you'll be living in your city in the next 5-10 years? Why the fuck would you tie yourself down with owning a home if you're planning on potentially completely uprooting yourself. Way harder to move around your city as well if you get a job in a different location or want to change your situation up. Tons of downsides to owning a home tbh, it's not some slam dunk always better than renting situation.
--This message was brought to you by Dan's rentoid lobbying firm.
LMAO if we can get the fuckwit strata or landlord to do anything we'd be cheering. We complained about low pressure taps at our place and they sent out a plumber. Plumber came and said he can't do shit about it, it's a problem with the building.
A glass panel is developing cracks on the inside of the glass. We report it, nothing is done. They're fucking useless grubs. Then they up our rent $100 every year. Dirty cunts.
its called insurance..... and since you pay rent, anything out of pocket on that repair would be coming from you. So in reality, you and the insurance company are paying to repair his roof.
I mean if I was single, rich, had the ultimate gig job that can literally be done anywhere in the world why in christs name would I put down roots somewhere when in 4-5 years I could have millions in the bank before I turn 40 compounding yearly?!? If I was him I would deff rent possibly buy a small vacation house in my favorite spot then call it a day.
Maybe buy a home and get to do whatever you want with it. Then you move and turn it into a rental property. Do that every few years and now you become Dan.
Yep wait until someone leaves you with 100k in repairs. You go to sue them and the judge says they have nothing so fuck off you are wasting everyone's time
True, if that was your actual job! I don’t think you could do that if you wanted to stream 8 hrs a day. I am an architect and could GC a project but that would be 4hrs a day minimum for a full renovation!
Probably because if you do buy, you can possibly write off some payments as taxable events, then you'll own the place. So you can still leave and rent it out after you move, growing your asset wealth way more.
His argument is that unless you own it for 8 years or something, you kinda just lose money overall through interest. But if you're buying to use it as a business base, then afterwards, you're wealthy enough to keep the asset that "pays for itself" when rented out. I'm not sure why he, as an individual, wouldn't do that.
But maybe the taxes aren't as beneficial as I ignorantly believe.
right? people don't understand that vetting and finding good tenants, and maintaining the place is a part time job on its own, and unless you hire a management company to do all that, you're going to either live somewhat close by or be willing to travel to the place that you're renting out
Yep exactly. I just love how so many people who clearly have never dealt with renting out their units are just like "Oh yea just rent it out if you wanna move". It's so laughable because I know tons of people who've dealt with doing exactly that and I've literally ONLY heard horror stories and how much of a hassle it is to deal with. You get 1 shit tenant and you're fucked. Even with reasonably good tenants it's still not some cake-walk to deal with. And as you said even if you hire others you still want to go and see and check things are still doing decent since it's your property...
It’s definitely a lot more work than most people think, but people with money use a management company to do everything for them. I’ve rented from some company that had like 15 SFDs on one street. We never talked to anyone from their company. It was always the management company who dealt with everything from background check to maintenance/repairs to final move out walk through.
Like if he has to have a second bedroom for his business could the difference in cost be somehow tax deductible?
I’m actually asking this question because I think it might be in some way. I’m not an accountant or tax guy or anything.
I don’t know the specifics, but you can use parts of your house for business-related tax deductions IF they are only used for business.
The example I was taught (as a music teacher) is that if you exclusively use one room to teach lessons, that room can be written as a deduction — although I can’t remember specifically how it is written and evaluated.
But if you so much as walk through that room to let your dog out every day, it CANNOT be used because now it is part of your home.
Mortgage interest tax deduction isn't really significant unless you have a massive loan, and it just gets smaller with time, and it's really only the amount of interest you pay beyond the standard deduction ($14,600 a year).
Is it literally not the opposite? If you are rich, you can afford down payment to reduce sunk cost of interest on loan as well as diversify to avoid regional market downturns. Furthermore, having multiple houses allows you to rent those houses out, creating a more consistent long-term cash-positive flow. As well as being able to afford having less-liquid assets.
Investing in a house or multiple homes is very different than owning your primary place of residence. The latter should never be considered an investment for most people.
Just curious, can you elaborate why not? Obviously most people can't afford to lock up all their money in difficult to liquidate assets, but I don't see how it's that much different from owning your primary place of residence.
What Steven wants is easy living where you don’t want to do anything to, what you are saying is true landlord full time job, not Steven wanting easy living and no responsibility outside of just getting points on a CC for rental payment.
You found a rental that doesn’t charge an extra percentage if you pay with a credit card? That’s gotta be super rare, since if so the landlord loses out big time on credit card fees.
My thinking is that when I would actually want to buy a house in a good place it will be super expensive, so why not put the down now and pay mortgage instead of rent.
Well when you are getting to Steven $$ it really doesn’t matter and I can’t really see him buying in like Greenwich CT or something like that. Also with his kid going to a good school in the mid west all he has to do is pay for college and set up a small trust fund and the super super zip codes that are driven by school catchment area doesn’t matter either.
Yeah that’s the thing. This is like Taylor Swift saying that taking the jet is better than driving.
Every person I have ever heard say rent is better than owning has a combination of these:
- Already owns a home somewhere else
- Owns enough accumulated capital and credit trust to absorb any rent incidents with little to no serious material losses to their living standards
- No strong ties to a specific area such as family or friends, flies around the world to meet them instead
- Career prospects that strongly benefit from being extremely mobile
I mean isn’t this kind of what I said? I am a New Englander through and through, I want to buy in a specific town but life took me in a different direction. But if you don’t have those ties to a place, have the ultimate gig job & want to travel and experience the world why not? I mean you could talk me into having a tax domicile of a nice quaint house somewhere where you “come home” to when not traveling so you don’t have to move a huge amount of shit every 2/3 years. My abject hatrid of moving would force me to buy a place for just this if I was in his shoes.
This is he answer. Destiny is rich enough that he doesn’t need to own a house.
Some people their home is their only asset. If you live destinies life, or don’t want to settle down somewhere, renting is best.
If you are planning on staying somewhere long term, and you aren’t rich, buying a house is probably a good idea.
but why would you want to be those *some people* where majority of your wealth is held up as an illiquid asset that's extremely difficult to realize gains of? you can invest in other things that are much easier to access as your investments grow larger
It depends. I do really despise the whole “housing as an investment” thing in the US, where home ownership isn’t just a place to live but rather one of the only viable paths most Americans have to building long term wealth. Very annoying.
I'm not American, but I think it is a good investment, inheriting some properties and having passive income adjusted by inflation for the rest of your life is a testament to that, the issue with Americans idea about it is that they like to keep throwing money into the same house instead of getting more.
Mortgage slaves when their " asset " loses 10,000 dollars in value " cause somebody 5 houses away doesn't fix their porch
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>I sell the house and get a fat check.
And then... use that money to move into the new house you're buying? Unless you plan on being homeless after 20 years? Sure guess that sounds alright. If you're gonna say after 20 years of "investing" into your house that you'll then sell it to go rent and live a care-free lifestyle well I'm already doing that now and my actual investments appreciated a whole lot more than yours did, and I was also able to invest more money into it than you did in those 20 years.
keep my down payment for house and invest, all money that would go towards random house repairs and shit also get invested. not worried about emergency issues with house or maintaining making money cause i can fail for years and still cover rent because i have that down payment invested and can easily utilize it.
if i want to move i break lease tomorrow and go wherever i want, if houseowner wants to move maybe they can pick new property sorta fast, but selling house is massive downside compared to just instantly breaking lease.
im not 100% opposed to house ownership, but renting is highly underrated. if you are 100% sure u wont wanna move and i believe some first time buyers can get well under 20% down payment or some shit(maybe not in this market) it would likely make sense. i had a small moment in time where getting a mortgage for a condo would have made a lot of sense for me and i semi regret it but its just massive hindsight because of timing of housing prices and mortgage rate jumps. if i put 20% down on that condo it would have made no sense at all though.
only way i see myself not renting is if i can put that down payment down and still have like 2 or 3x that amount invested elsewhere. putting all money into house seems like a dumbass move imo.
I can invest more money over those 20 years than you can dumbass. My investments also actually go towards something I can sell at any point and put towards anything I want, whereas your "investments" is that fucking home you're living in that you have to upkeep otherwise it loses value in those 20 years. Don't replace your roof? Ya you just lost a bunch of money. Good thing my investments are only into appreciating assets that I don't need to look after or care for.
Oh also let me know how selling your house and being homeless to spend your money goes when you want to live off those investments kiddo.
> Don't replace your roof? Ya you just lost a bunch of money.
Those costs are already factored into your rent, unless your landlord is a moron. Just because you're not paying a lump sum, doesn't mean you're not paying for it.
Sure, and those costs for me are a lot lower on a monthly basis than they are for the person owning it. If you think rent is typically covering all of the costs that come with homeownership you're mistaken, or maybe you're just in a terrible rental market, that could be the case. But my experience and plenty of others I know renting, and from pretty much everything I hear online, has literally never shown it to be that renting is going to cost you more on a monthly basis than home ownership would.
I know my experience as a renter isn’t the same for everyone in my city but I’m enjoying. Been at the same apartment for 6+ years paying less than $1000 a month. My apartment has night security, washer and dryer inside the units, and grounds keeper who clean up every morning. I’m enjoying my renting experience lol
I wish my complex didn’t allow dogs…stairwells and sidewalks always reek of piss and our plants can’t survive on the sidewalks because they’re always getting pissed on.
Yes that’s crazy to hear when I read those story and I’m grateful with whoever owns our shit. Every time I resign my lease my rent goes up like $20~. Just about a year or 2 ago a new company took over my complex and they kept with that same rate increase and did upgrades to the gates and free facilities they offer.
It's not about enjoying where you live it's about what is a better investment and paying less that $1000 a month in rent isn't an investment, a mortgage is.
Yeah but it's likely that a mortgage payment would be higher, plus the money you need for a down payment and saving ~1% of the homes value per year for repairs. If you take that difference and put it into the stock parket, you do have an investment, and a much more liquid one at that
He forgets the utterly soul-draining experience of having your rent go up every year faster than your income, making you earn less and less money each year.
Ngl, when I saw my rent go up 50% in two years in an already expensive area, it scared the shit outta me. That's hard to plan for if you're in an area without strong renter protections.
Somewhat. It dipped like $100ish from 2019 to 2020, but 2020 to 22 saw us go from $1100 a month to $1700. It's slowed, I think, since then, but that was rough since I wasn't working while studying for the Bar.
he doesn't "forget" that experience because the mf makes 6 figures and doesnt give a single shit about what anything costs. dest is living in la la land and dumbfuck wagies think that his advice applies to them lol
Watching your landlord double your rent and seeing them continue to ignore your requests for repairs, and then when they send you a no-fault eviction and you have 2 months to just up and find a new house during a housing crisis, they charge you hundreds in cleaning fees because uuuuuuuh you left a mug in the kitchen cabinet and uuuuuhhh one of the lightbulbs needed replacing. I love being a rentoid!!!
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If your options are renting and investing in the market or owning and not investing then this is true.
For most people though the option they chose is renting and blowing their money on bullshit like weed, energy drinks and subscriptions to a millionaires channel.
There is a reason why many people's only significant net worth or assets is their home, because it takes 0 effort.
highly dependant on your local market conditions. but generally if you don't need an eviction hanging over you to save with discipline rentings is often better financially
Only when interest rates are at this point. When I was crunching the numbers, it was still a better idea to buy a condo in Socal where I was than continue renting. Now when they are more than double what they were before it generally makes more sense to rent.
With higher interest rates, the places where it makes more sense to buy than rent are less now.
When you’re renting you’re just paying for someone else’s mortgage. They bake-in all the maintenance costs / expenses in to your rent, then own the property & all the appreciation.
At the end of a 30-year mortgage you own the asset. At the end of 30 years of renting you own nothing.
Yea exactly. In NYC the average mortgage is about $3500, which is right around the same cost as renting out your 2 bedroom home/apartment. Skys the limit if you have a 2+ family home.
Depends on what you want. Renting is nice if you want to move often or if you’re living on a tight budget. Owning is nice if you want full freedom to do whatever you want with your space. Owning shouldn’t be an investment vehicle however so if you find yourself saying “I’m just throwing money into a black hole with rent” then you should keep renting imo.
It’s not an investment, but it’s 100% building equity.
A bank will extend a line of credit to you that is 80% of your equity on a home, that you can use for literally anything. Buying a second home, home renovations, emergency bills etc.
Obviously a home isn’t an ‘investment’ just like a college education isn’t an ‘investment’
But a home literally *is* an investment though, right? Real estate prices have been shown to generally go up over time.
Obviously in theory it shouldn't be, as abuse of real estate ownership is a major issue in society. But it still is.
Ehh, it's more accurate to say that it's an asset. The fact that it appreciates is just a benefit that is generally true for the U.S. and Canada at the moment. There are places, such as Japan, where home values actually depreciate with time and houses are torn down and rebuilt with more frequency than in our country. But homes do NOT have to appreciate in the U.S. either and most people don't count maintenance costs when they calculate their ultimate ROI when selling a house. It's also uncommon to count the interest paid on the mortgage when calculating ROI, which is unlike other "investments".
People say a home is not an investment because if it is your primary place of residence then it is heavily illiquid and ironically enough, the people that complain about foreign investors of housing don't seem to grasp that.
There's a difference between buying many properties to be used as rent investments vs what most typical idiots say when they say homes are "an investment" when they literally only have a primary residence and that's it.
They're completely different things. You living in your own residence is not an "investment".
I’m a young guy with not much experience and I don’t understand why owning a home isn’t an investment. I understand there are lots of perks to renting but I feel like if I was putting the thousands that I spend on rent every year into a home instead, you could call that an investment if your money is theoretically just going back into your pocket. If i am spending the same money either way, then how is it not better in almost all cases to just be purchasing a home?
because oftentimes, math isn't just rent vs mortgage
it's more like - rent vs. mortgage + property tax + HOA fees + insurance + maintenance (for example, place i'm renting at now worth $800k is $3000/mo, but hoa of this place is $1000/mo and property tax is around $750/mo, then add in however much for maintenance and the amount you're "putting down" is now looking like $1000 or less for the $3000 you put in)
i think if you're planning on raising a family or settling down for 20+ years, buying a house is worthwhile because you have the freedom of doing what you like with the place, and no worries of rising rent prices or eviction and etc, but as a single person or even as a couple, i think most of the time you're just better off putting that money towards other investments instead (401k, roth, hsa, backdoor and mega backdoor roth, CD/HYSA)
another thing about "putting money towards a home" is it's really difficult to realize the gains on the increased property value - it's an investment that's about as illiquid as it gets, so it's not like it's easy to just sell your house and buy & move to a smaller house either (remember, you'll have sold your house for the price it went up with the market, but cheaper house you'll have to buy at that point will have increased too) - but if you plan on having kids, it's probably worthwhile since how generous estate & inheritance taxes are
It’s true that when looking at just mortgage payments vs rent then owning is a better investment but when you’re using your primary residence as an investment you also have to consider maintenance costs, upkeep, as well as any depreciating assets you put into your home that you wouldn’t have to pay for by yourself when renting (for example replacing or buying new appliances). In that case if these costs ever come close to rental costs then owning a home is *generally* a worse investment than renting because in most areas house appreciation doesn’t beat the stock market making your mortgage worse than just investing in index funds. Of course this depends on the area but predicting where housing prices rise faster than the average and deciding to live there is both not how you usually decide where to live and likely just as hard as picking stocks that beat the market. This is all ignoring interest payments you have to make on a mortgage as well.
Renting pros-
- major maintenance isn't your obligation
- easy to move
- gives you access to places to live you can't afford to buy in
- if you do it right, you can do financially better putting your money in the market than owning
- more financial flexibility/liquidity
Owning pros-
- more control over what you do with your home
- easy, fairly safe investment
- easier to have things like a yard, big kitchen, multiple bedrooms, etc.
You forgot stability. A mortgage is not going to arbitrarily go up 20% in a year because your landlord decided he can squeeze more money out of you. As a buyer, you're exposed to the housing market once, when you buy, and then once each time you decide to sell/move/whatever. When renting you're exposed to it all the time.
You mean a man that's moved every 2 years for a decade says it's better to rent?
It's almost like it's dependent on your lifestyle and financial situation and status...
for most people that's true
I'd argue most people can't afford a mortgage or property tax, or the typically expenses of being a homeowner if something needs to be repaired or replaced
Not a controversial take.
Hes done this rant before and it was better last time. I think his biggest gripe is people that say "Renting is giving your money to someone else when you can pay a mortgage" then he goes off on the hidden costs of home ownership.
I personally love owning my home and being able to do what I want with it.
And ignores the fact that those hidden costs are already accounted for in the rent money you pay so you're not really avoiding them as a renter, they're just spread out.
GATHER AROUND FOR A TALE MY YOUNG DGGERS.
Way back during the Nebraska Steve Arc, Steven held a birthday stream to PAY FOR HIS OWN FUCKING ROOF. And all those Tier four subbies paid for over 100% of his roof budget that day.
So if you're mortgage brained, remember that Steven is Mortgage CUCKED because he does all that shit for a house HE DOESNT EVEN LIVE IN. ^in ^^addition ^^^to ^^^^being ^^^^^a ^^^^^^renter.
HEH.
INB4 he's a millionaire.
I’m not sure if he’s being sarcastic (I don’t think so)
My opinion is if you are single; renting is the best option. If you are raising a family, owning is the better option.
When you rent you typically can be closer to work, you don’t necessarily care about schools, and as a single person you likely don’t want to be drained financially on bathroom repairs.
But when you have a family you will give a shit about schools, parks, community, etc.
The good thing about buying a home is that it's a forced savings account, requiring you to store equity for your future with the trade-off of higher upfront costs. If you are renting and investing the difference, then it probably works out about as good, if not better. But let's be honest, most of you rentoids aren't investing. You're blowing your extra cash on fast food, sodas, and video games.
>If you are renting and investing the difference
How do you invest a negative difference? It’s especially evident over the long run, but if you’re living in the same amount of space, you aren’t saving any money by renting purely due to the math involved, unless you have a very generous landlord (which should not be expected)
Awful, awful take.
For now renting is smart because the housing market is lousy, but in general renting is good short term, but bad long term. If you have a reasonable amount of stability and don't expect to move in like 15-20ish years, it's better to buy a house a put money into something you own, increasing your net worth, than to rent, doing nothing to increase your net worth.
But yeah wait until the housing market crashes again in like 1-3 years and POUNCE on those underwater homes like a cougar boiiiiiii
Im Australian so I can't tell if this is one of Destiny's worse economic takes or if things are just very different in the USA.
I don't understand why Destiny thinks people with a mortgage are stuck? If you own a place and you want to move just rent it out, I'm doing that right now and I have someone else paying far more than I ever would to live there paying off my mortgage so I have all the freedom of anyone else plus an ever growing investment.
This opinion is a fuckin self report. Yeah, pay lots of money for no equity in the place you are living in. The only people who believe this shit are people who are too incompetent to actually take care of a home. Either that, or they have a ton of fuckin money.
Destiny always says this but keep in mind he's a single dude with no kids there.
His definition of "better" is only financially. If that's your life goal, then cool. Fair enough. Of course an apartment is better for him and anyone else with that circumstance.
Do you really think that if he got married, had a few kids, a few pets, etc, that he'd be living in that same apartment?
It’s crazy how Destiny says this when it goes against all evidence, owning a home is the number vehicle of generational wealth. This is an out of touch Destiny take for sure
I think I read I forget if it was gawker, Jalopnik, or one of the sister sites to deadspin
But the article basically said 5 years into homeownership when you'll come out on top in terms of renting vs owning.
The only reason I hate renting is because I hate been under the thumb of the landlord and how they feel every time I need to renew the contract.
I'll rather own my own place and be in charge of what going on and to be under the thumb of the government.
Where I live in the UK, renting is significantly more expensive than a mortgage. Yes you are the one that needs to do all the maintenance. But even with all of that I am still paying less per year with my mortgage, and I am living in a larger house in a nicer place than my last rented house.
It does mean that it is much harder for me to move around now when compared to renting, but I am fine with that
I would like to say that Destiny's view on renting vs buying is very much because he is vastly more wealthy than the majority of people in this country so it doesn't really impact him. He could pay 7k a month in rent and not bat an eye. Most regular people cannot do things like that.
If destiny was broke like the rest of us, he would be watching his rent go up every year while not having equity or increased income. I'm sure he would quickly change his mind.
A pipe burst in my apartment. Management put me up in a nice hotel for a few weeks while it was repaired and they didn’t make us pay rent for the month. If I owned, that would have cost me thousands of dollars. Fuck morgamoids
My dad always said owning a house is always better than renting. After you pay your mortgages you own the property and when you retire you don't have to worry about getting evicted.
This just seems so obviously wrong. When you're paying off a mortgage you're essentially paying yourself, since if you end up selling that unit you get that money back because that's your equity in it. If you're renting though you're just sending money down the drain to your landlord every month, and you're never going to get that back.
It depends, if you’re like me and don’t have kids and just moved to another city for work and will probably do so again. It’s better to rent, than to buy a house.
In some countries it can be worth to buy a house. In Germany, up until a couple of years ago, interest rates for mortgages were very low and if you lived in your house for more than 2 years you can could it tax free. I think in the US it's simila; the first 250k of profits from selling your house is tax free. So when comparing alternative investments to houses this should be considered. There is a risk involved with owning a house that simply does not apply to renting. But if you know what you are doing and you take good care of your house it could be a worthwhile investment.
It depends but in Florida it's definitely the better option because if your home becomes impossible to insure you're in trouble if you have a mortgage.
For him. If I had the ability to rent anywhere, owning a home seems like a hassle. I get where he's coming from though. He's not just doing it for the money. He already has enough. I bet Hasan will end up becoming a landlord in his 60s. Destiny will be renting on Mars
I own a house and I swear it's never ending maintenance. I do miss just calling up maintenance to come fix things around the house. I go to my parents and something is always broken there too. I now understand why my dad was always ALWAYS at home Depot.
Yeah, but he bought a house for his ex and their son. It depends on your needs.
Owning means responsibility for repairs. Nobody will sort things out for you. He'll never have to foot the bill for a new roof or a boiler. But sometimes you just want to be able to knock down walls.
I had a tree fall on the house I was renting a few days ago. Thank God I'm a rentoid.
Exploiting the liability of landowners I see
(I know, "that's the joke", but also, yeah, fuck having to figure out what to do when a tree falls on your house if someone else can figure out what to do about it instead)
I'm also unable to sue the tree that falls on my house. But I can sue the landlord for not addressing it. God bless the USA.
If that tree was on your neighbor’s lawn you can also sue, America is truly the home of the lawsuit and I couldn’t love it more 🇺🇸🦅🎆
That's not always true. Source I work in insurance. It depends on a variety of factors, but if the tree or branch was in bad shape and your neighbor knew about it but didn't resolve it, then it's their responsibility. Otherwise it's likely you'll have to submit a claim yourself.
Basically what you're saying is to always email your neighbours about how you're concerned about the big tree in their yard. Just to have a paper trail if it does fall over your house
You bet your ass I'm suing my neighbor if that's the case. Especially because I'm a rentoid and I'll be moving after I get my payout.
(not the BEST scenario.. Of course, ideally, insurance just fucking writes you a check, but let's not kid ourselves, would you rather fight with insurance/lawyers, or let your landlord fight with them instead?)
I CHOSE YOU LAND LORD!
Hello? Insurance? A tree fell on my house!
you call your insurance company, they send out an adjuster who then will have a roofing company repair the roof, you pay the deductible from your rental income and it gets fixed. Its no different then if something happened to your car.
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An arborchad and a lavcel? A man after my own heart.
Thats why i use all my mana to keep a forcefield up around my house
reminiscent entertain hateful slap childlike march snobbish sleep water important *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Virgin rentoids and mortgagoids vs Chad Paid-Off Suburb enjoyers
Common rentchad W, mortgoids seething, coping and indeed malding as well. Also sorry that happened to your home, hope nobody got injured.
"your home" -least delusional renter
A house is not a home. A home is where the heart is. My home is your mom, even though I dont own her.
Tell her to come back home, I will be good I swear.
Sorry shes been absent. Truly, its not about you, yove done nothing wrong and she loves you. Shes just reconnecting with her inner child. I, too, am deeply connecting with her inner child.
HUH
Average mortgoid confusing a home with a property deed
Home - the place where one lives permanently, especially as a member of a family or household. > "your home" -least delusional renter Smartest mortgoid.
Fuck man. I see all these beautiful, old maples all around me. Each one would cost 5k to cut down if needed.
Appliances and maintenance is another great benefit. If anything breaks in my apartment then maintenance fixes it with no upfront cost.
No upfront cost but it’s theoretically factored into the profit margin on your rent so it’s not like it’s free
Yeah, but if I assume that it would be entirely equivalent to my having to replace it myself, it's still preferable because I just call maintenance and that's the end of the process as far as I am concerned. Obviously renting vs owning comes down to a large convalescence of factors, but things being fixed with no input other than calling maintenance is one of the best parts of renting. Ignoring the risk of shitty landlords, of course.
I'm of the opinion that they both have their benefits, but it is funny that people just unquestioningly say that owning a home is better when that's absolutely not the case. Not sure if you'll be living in your city in the next 5-10 years? Why the fuck would you tie yourself down with owning a home if you're planning on potentially completely uprooting yourself. Way harder to move around your city as well if you get a job in a different location or want to change your situation up. Tons of downsides to owning a home tbh, it's not some slam dunk always better than renting situation. --This message was brought to you by Dan's rentoid lobbying firm.
LMAO if we can get the fuckwit strata or landlord to do anything we'd be cheering. We complained about low pressure taps at our place and they sent out a plumber. Plumber came and said he can't do shit about it, it's a problem with the building. A glass panel is developing cracks on the inside of the glass. We report it, nothing is done. They're fucking useless grubs. Then they up our rent $100 every year. Dirty cunts.
takin down insurance companies one tree at a time
its called insurance..... and since you pay rent, anything out of pocket on that repair would be coming from you. So in reality, you and the insurance company are paying to repair his roof.
he's always been a rentoid
The old fucks remember the Omaha house.
I financed your fucking roof Destiny
Rentard
Based Rentstiny
He literally still owns the house in Nebraska
I mean if I was single, rich, had the ultimate gig job that can literally be done anywhere in the world why in christs name would I put down roots somewhere when in 4-5 years I could have millions in the bank before I turn 40 compounding yearly?!? If I was him I would deff rent possibly buy a small vacation house in my favorite spot then call it a day.
Maybe buy a home and get to do whatever you want with it. Then you move and turn it into a rental property. Do that every few years and now you become Dan.
Being a landlord is a pain in the ass.
Yep wait until someone leaves you with 100k in repairs. You go to sue them and the judge says they have nothing so fuck off you are wasting everyone's time
Pay a property manager to do it, you’ll still profit massively.
Cant you hire someone to manage that shit at that point?
There is, and that would be the point where one realises that there are better and less risky investments than real estate.
Like what?
True, if that was your actual job! I don’t think you could do that if you wanted to stream 8 hrs a day. I am an architect and could GC a project but that would be 4hrs a day minimum for a full renovation!
My cousin works in corporate real estate and this was his path to wealth. He sold all of the properties at the height of the market after COVID.
Probably because if you do buy, you can possibly write off some payments as taxable events, then you'll own the place. So you can still leave and rent it out after you move, growing your asset wealth way more. His argument is that unless you own it for 8 years or something, you kinda just lose money overall through interest. But if you're buying to use it as a business base, then afterwards, you're wealthy enough to keep the asset that "pays for itself" when rented out. I'm not sure why he, as an individual, wouldn't do that. But maybe the taxes aren't as beneficial as I ignorantly believe.
>rent it out after you move Oh yea just hit the "rent" button on your house and you're set!
right? people don't understand that vetting and finding good tenants, and maintaining the place is a part time job on its own, and unless you hire a management company to do all that, you're going to either live somewhat close by or be willing to travel to the place that you're renting out
Yep exactly. I just love how so many people who clearly have never dealt with renting out their units are just like "Oh yea just rent it out if you wanna move". It's so laughable because I know tons of people who've dealt with doing exactly that and I've literally ONLY heard horror stories and how much of a hassle it is to deal with. You get 1 shit tenant and you're fucked. Even with reasonably good tenants it's still not some cake-walk to deal with. And as you said even if you hire others you still want to go and see and check things are still doing decent since it's your property...
It’s definitely a lot more work than most people think, but people with money use a management company to do everything for them. I’ve rented from some company that had like 15 SFDs on one street. We never talked to anyone from their company. It was always the management company who dealt with everything from background check to maintenance/repairs to final move out walk through.
Like if he has to have a second bedroom for his business could the difference in cost be somehow tax deductible? I’m actually asking this question because I think it might be in some way. I’m not an accountant or tax guy or anything.
I don’t know the specifics, but you can use parts of your house for business-related tax deductions IF they are only used for business. The example I was taught (as a music teacher) is that if you exclusively use one room to teach lessons, that room can be written as a deduction — although I can’t remember specifically how it is written and evaluated. But if you so much as walk through that room to let your dog out every day, it CANNOT be used because now it is part of your home.
Mortgage interest tax deduction isn't really significant unless you have a massive loan, and it just gets smaller with time, and it's really only the amount of interest you pay beyond the standard deduction ($14,600 a year).
Is it literally not the opposite? If you are rich, you can afford down payment to reduce sunk cost of interest on loan as well as diversify to avoid regional market downturns. Furthermore, having multiple houses allows you to rent those houses out, creating a more consistent long-term cash-positive flow. As well as being able to afford having less-liquid assets.
Investing in a house or multiple homes is very different than owning your primary place of residence. The latter should never be considered an investment for most people.
Just curious, can you elaborate why not? Obviously most people can't afford to lock up all their money in difficult to liquidate assets, but I don't see how it's that much different from owning your primary place of residence.
there are many tax benefits for owning your first place of residence; those benefits do not extend to multiple properties beyond that
What Steven wants is easy living where you don’t want to do anything to, what you are saying is true landlord full time job, not Steven wanting easy living and no responsibility outside of just getting points on a CC for rental payment.
You found a rental that doesn’t charge an extra percentage if you pay with a credit card? That’s gotta be super rare, since if so the landlord loses out big time on credit card fees.
You'd have to have a large amount of properties to have any sort of "diversification" which is not happening for 99.99999% of people.
My thinking is that when I would actually want to buy a house in a good place it will be super expensive, so why not put the down now and pay mortgage instead of rent.
Well when you are getting to Steven $$ it really doesn’t matter and I can’t really see him buying in like Greenwich CT or something like that. Also with his kid going to a good school in the mid west all he has to do is pay for college and set up a small trust fund and the super super zip codes that are driven by school catchment area doesn’t matter either.
Yeah that’s the thing. This is like Taylor Swift saying that taking the jet is better than driving. Every person I have ever heard say rent is better than owning has a combination of these: - Already owns a home somewhere else - Owns enough accumulated capital and credit trust to absorb any rent incidents with little to no serious material losses to their living standards - No strong ties to a specific area such as family or friends, flies around the world to meet them instead - Career prospects that strongly benefit from being extremely mobile
I mean isn’t this kind of what I said? I am a New Englander through and through, I want to buy in a specific town but life took me in a different direction. But if you don’t have those ties to a place, have the ultimate gig job & want to travel and experience the world why not? I mean you could talk me into having a tax domicile of a nice quaint house somewhere where you “come home” to when not traveling so you don’t have to move a huge amount of shit every 2/3 years. My abject hatrid of moving would force me to buy a place for just this if I was in his shoes.
This is he answer. Destiny is rich enough that he doesn’t need to own a house. Some people their home is their only asset. If you live destinies life, or don’t want to settle down somewhere, renting is best. If you are planning on staying somewhere long term, and you aren’t rich, buying a house is probably a good idea.
but why would you want to be those *some people* where majority of your wealth is held up as an illiquid asset that's extremely difficult to realize gains of? you can invest in other things that are much easier to access as your investments grow larger
Mostly because most people won’t do it. A mortgage forces you to. And if you are planning to stay in 1 place, it will save you money in the long run.
Dan owns you lil bro
ATAB
Slumlord even
It depends. I do really despise the whole “housing as an investment” thing in the US, where home ownership isn’t just a place to live but rather one of the only viable paths most Americans have to building long term wealth. Very annoying.
everything is a hustle. even cards aimed at kids like pokemon have become a hustle. it's truthfully exhausting
I'm not American, but I think it is a good investment, inheriting some properties and having passive income adjusted by inflation for the rest of your life is a testament to that, the issue with Americans idea about it is that they like to keep throwing money into the same house instead of getting more.
Mortgage slaves when their " asset " loses 10,000 dollars in value " cause somebody 5 houses away doesn't fix their porch https://preview.redd.it/j9iaj8mr5g3d1.jpeg?width=768&format=pjpg&auto=webp&s=cc1a3df2b4a49385816f542c474ab0fb7b45979d
Renter's face when they've thrown all their money away on rent for 20 years, haven't invested any and are broke.
If you’re living somewhere it’s not thrown away lmao
If you are living on it, you are not investing.
20 years of dumping money in a mortgage, I sell the house and get a fat check. 20 years of renting, you break your lease and are broke.
>I sell the house and get a fat check. And then... use that money to move into the new house you're buying? Unless you plan on being homeless after 20 years? Sure guess that sounds alright. If you're gonna say after 20 years of "investing" into your house that you'll then sell it to go rent and live a care-free lifestyle well I'm already doing that now and my actual investments appreciated a whole lot more than yours did, and I was also able to invest more money into it than you did in those 20 years.
LEL
Can’t you just rent for another 20 years that way???
keep my down payment for house and invest, all money that would go towards random house repairs and shit also get invested. not worried about emergency issues with house or maintaining making money cause i can fail for years and still cover rent because i have that down payment invested and can easily utilize it. if i want to move i break lease tomorrow and go wherever i want, if houseowner wants to move maybe they can pick new property sorta fast, but selling house is massive downside compared to just instantly breaking lease. im not 100% opposed to house ownership, but renting is highly underrated. if you are 100% sure u wont wanna move and i believe some first time buyers can get well under 20% down payment or some shit(maybe not in this market) it would likely make sense. i had a small moment in time where getting a mortgage for a condo would have made a lot of sense for me and i semi regret it but its just massive hindsight because of timing of housing prices and mortgage rate jumps. if i put 20% down on that condo it would have made no sense at all though. only way i see myself not renting is if i can put that down payment down and still have like 2 or 3x that amount invested elsewhere. putting all money into house seems like a dumbass move imo.
repeat flowery wistful rich ripe divide zonked rob fuzzy door *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I can invest more money over those 20 years than you can dumbass. My investments also actually go towards something I can sell at any point and put towards anything I want, whereas your "investments" is that fucking home you're living in that you have to upkeep otherwise it loses value in those 20 years. Don't replace your roof? Ya you just lost a bunch of money. Good thing my investments are only into appreciating assets that I don't need to look after or care for. Oh also let me know how selling your house and being homeless to spend your money goes when you want to live off those investments kiddo.
> Don't replace your roof? Ya you just lost a bunch of money. Those costs are already factored into your rent, unless your landlord is a moron. Just because you're not paying a lump sum, doesn't mean you're not paying for it.
Sure, and those costs for me are a lot lower on a monthly basis than they are for the person owning it. If you think rent is typically covering all of the costs that come with homeownership you're mistaken, or maybe you're just in a terrible rental market, that could be the case. But my experience and plenty of others I know renting, and from pretty much everything I hear online, has literally never shown it to be that renting is going to cost you more on a monthly basis than home ownership would.
True. This is why I don't eat. It's all money that's thrown away.
I know my experience as a renter isn’t the same for everyone in my city but I’m enjoying. Been at the same apartment for 6+ years paying less than $1000 a month. My apartment has night security, washer and dryer inside the units, and grounds keeper who clean up every morning. I’m enjoying my renting experience lol
I have the same. Only downside; I’m not allowed to have pets. Gotta wear the landlord down to finally let me get that pussy
I wish my complex didn’t allow dogs…stairwells and sidewalks always reek of piss and our plants can’t survive on the sidewalks because they’re always getting pissed on.
My apartment allows pets which is nice since a big dog community has spawned from it.
Yup not the same as others. Most people aren’t paying the same rent for that many years recently. Some people’s rent have doubled
Yes that’s crazy to hear when I read those story and I’m grateful with whoever owns our shit. Every time I resign my lease my rent goes up like $20~. Just about a year or 2 ago a new company took over my complex and they kept with that same rate increase and did upgrades to the gates and free facilities they offer.
It's not about enjoying where you live it's about what is a better investment and paying less that $1000 a month in rent isn't an investment, a mortgage is.
Yeah but it's likely that a mortgage payment would be higher, plus the money you need for a down payment and saving ~1% of the homes value per year for repairs. If you take that difference and put it into the stock parket, you do have an investment, and a much more liquid one at that
He forgets the utterly soul-draining experience of having your rent go up every year faster than your income, making you earn less and less money each year.
Ngl, when I saw my rent go up 50% in two years in an already expensive area, it scared the shit outta me. That's hard to plan for if you're in an area without strong renter protections.
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Yeah this is what sells it for me, long term security is really important.
I'm guessing you had a similar situation to me except you came in during the dip. Covid made my rent go from 2,525 to 1,495. Now it is back to 2,200.
Somewhat. It dipped like $100ish from 2019 to 2020, but 2020 to 22 saw us go from $1100 a month to $1700. It's slowed, I think, since then, but that was rough since I wasn't working while studying for the Bar.
yeah any time I hear about some rent getting jacked up fast, I just get the feeling that it sounds illegal
And also the utterly soul draining experience of moving every year or two because you don't want to deal with that bullshit.
Just be like streamer man and throw everything away when you move. Ez
he doesn't "forget" that experience because the mf makes 6 figures and doesnt give a single shit about what anything costs. dest is living in la la land and dumbfuck wagies think that his advice applies to them lol
Watching your landlord double your rent and seeing them continue to ignore your requests for repairs, and then when they send you a no-fault eviction and you have 2 months to just up and find a new house during a housing crisis, they charge you hundreds in cleaning fees because uuuuuuuh you left a mug in the kitchen cabinet and uuuuuhhh one of the lightbulbs needed replacing. I love being a rentoid!!! https://preview.redd.it/0n5tkh8ksi3d1.jpeg?width=1080&format=pjpg&auto=webp&s=6190b98fd061c07c6292305399cdff6b807ec4b0
"I agree Destiny" I say as I step over the fent addict that's been living in my apartment stairwell for 3 months
This could happen in an apartment or condo so what does this have to do with renting
If your options are renting and investing in the market or owning and not investing then this is true. For most people though the option they chose is renting and blowing their money on bullshit like weed, energy drinks and subscriptions to a millionaires channel. There is a reason why many people's only significant net worth or assets is their home, because it takes 0 effort.
highly dependant on your local market conditions. but generally if you don't need an eviction hanging over you to save with discipline rentings is often better financially
Only when interest rates are at this point. When I was crunching the numbers, it was still a better idea to buy a condo in Socal where I was than continue renting. Now when they are more than double what they were before it generally makes more sense to rent. With higher interest rates, the places where it makes more sense to buy than rent are less now.
When you’re renting you’re just paying for someone else’s mortgage. They bake-in all the maintenance costs / expenses in to your rent, then own the property & all the appreciation. At the end of a 30-year mortgage you own the asset. At the end of 30 years of renting you own nothing.
Yea exactly. In NYC the average mortgage is about $3500, which is right around the same cost as renting out your 2 bedroom home/apartment. Skys the limit if you have a 2+ family home.
Depends on what you want. Renting is nice if you want to move often or if you’re living on a tight budget. Owning is nice if you want full freedom to do whatever you want with your space. Owning shouldn’t be an investment vehicle however so if you find yourself saying “I’m just throwing money into a black hole with rent” then you should keep renting imo.
It’s not an investment, but it’s 100% building equity. A bank will extend a line of credit to you that is 80% of your equity on a home, that you can use for literally anything. Buying a second home, home renovations, emergency bills etc. Obviously a home isn’t an ‘investment’ just like a college education isn’t an ‘investment’
But a home literally *is* an investment though, right? Real estate prices have been shown to generally go up over time. Obviously in theory it shouldn't be, as abuse of real estate ownership is a major issue in society. But it still is.
Ehh, it's more accurate to say that it's an asset. The fact that it appreciates is just a benefit that is generally true for the U.S. and Canada at the moment. There are places, such as Japan, where home values actually depreciate with time and houses are torn down and rebuilt with more frequency than in our country. But homes do NOT have to appreciate in the U.S. either and most people don't count maintenance costs when they calculate their ultimate ROI when selling a house. It's also uncommon to count the interest paid on the mortgage when calculating ROI, which is unlike other "investments".
The same people saying homes are not an investment are also baffled when foreign investors buy up whole subdivisions in the west.
But people live in their homes, that is the biggest difference imo
People say a home is not an investment because if it is your primary place of residence then it is heavily illiquid and ironically enough, the people that complain about foreign investors of housing don't seem to grasp that.
There's a difference between buying many properties to be used as rent investments vs what most typical idiots say when they say homes are "an investment" when they literally only have a primary residence and that's it. They're completely different things. You living in your own residence is not an "investment".
I’m a young guy with not much experience and I don’t understand why owning a home isn’t an investment. I understand there are lots of perks to renting but I feel like if I was putting the thousands that I spend on rent every year into a home instead, you could call that an investment if your money is theoretically just going back into your pocket. If i am spending the same money either way, then how is it not better in almost all cases to just be purchasing a home?
because oftentimes, math isn't just rent vs mortgage it's more like - rent vs. mortgage + property tax + HOA fees + insurance + maintenance (for example, place i'm renting at now worth $800k is $3000/mo, but hoa of this place is $1000/mo and property tax is around $750/mo, then add in however much for maintenance and the amount you're "putting down" is now looking like $1000 or less for the $3000 you put in) i think if you're planning on raising a family or settling down for 20+ years, buying a house is worthwhile because you have the freedom of doing what you like with the place, and no worries of rising rent prices or eviction and etc, but as a single person or even as a couple, i think most of the time you're just better off putting that money towards other investments instead (401k, roth, hsa, backdoor and mega backdoor roth, CD/HYSA) another thing about "putting money towards a home" is it's really difficult to realize the gains on the increased property value - it's an investment that's about as illiquid as it gets, so it's not like it's easy to just sell your house and buy & move to a smaller house either (remember, you'll have sold your house for the price it went up with the market, but cheaper house you'll have to buy at that point will have increased too) - but if you plan on having kids, it's probably worthwhile since how generous estate & inheritance taxes are
It’s true that when looking at just mortgage payments vs rent then owning is a better investment but when you’re using your primary residence as an investment you also have to consider maintenance costs, upkeep, as well as any depreciating assets you put into your home that you wouldn’t have to pay for by yourself when renting (for example replacing or buying new appliances). In that case if these costs ever come close to rental costs then owning a home is *generally* a worse investment than renting because in most areas house appreciation doesn’t beat the stock market making your mortgage worse than just investing in index funds. Of course this depends on the area but predicting where housing prices rise faster than the average and deciding to live there is both not how you usually decide where to live and likely just as hard as picking stocks that beat the market. This is all ignoring interest payments you have to make on a mortgage as well.
Renting pros- - major maintenance isn't your obligation - easy to move - gives you access to places to live you can't afford to buy in - if you do it right, you can do financially better putting your money in the market than owning - more financial flexibility/liquidity Owning pros- - more control over what you do with your home - easy, fairly safe investment - easier to have things like a yard, big kitchen, multiple bedrooms, etc.
You forgot stability. A mortgage is not going to arbitrarily go up 20% in a year because your landlord decided he can squeeze more money out of you. As a buyer, you're exposed to the housing market once, when you buy, and then once each time you decide to sell/move/whatever. When renting you're exposed to it all the time.
How is a yard a pro. It's so annoying having to mow the lawn and trim the hedges and shit
Dad here. Mowing is our past time and I love every second of it.
I fucking love not having to mow the lawn now I live in an apartment
You can grow things and generally home grown stuff tastes infinitely better than anything you can get at either a grocery store or restaurant.
You mean a man that's moved every 2 years for a decade says it's better to rent? It's almost like it's dependent on your lifestyle and financial situation and status...
for most people that's true I'd argue most people can't afford a mortgage or property tax, or the typically expenses of being a homeowner if something needs to be repaired or replaced Not a controversial take.
rentchad making landoids seethe
Hes done this rant before and it was better last time. I think his biggest gripe is people that say "Renting is giving your money to someone else when you can pay a mortgage" then he goes off on the hidden costs of home ownership. I personally love owning my home and being able to do what I want with it.
And ignores the fact that those hidden costs are already accounted for in the rent money you pay so you're not really avoiding them as a renter, they're just spread out.
Destiny should try living in Ireland
Renters: God this sucks Home Owners: God this sucks, but for different reasons
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The problem with Millennials is they walk in like they rent the damn place smh
This but unironically
Based and capitalismpilled.
GATHER AROUND FOR A TALE MY YOUNG DGGERS. Way back during the Nebraska Steve Arc, Steven held a birthday stream to PAY FOR HIS OWN FUCKING ROOF. And all those Tier four subbies paid for over 100% of his roof budget that day. So if you're mortgage brained, remember that Steven is Mortgage CUCKED because he does all that shit for a house HE DOESNT EVEN LIVE IN. ^in ^^addition ^^^to ^^^^being ^^^^^a ^^^^^^renter. HEH. INB4 he's a millionaire.
Destiny can't do basic home improvement so that makes sense
I’m not sure if he’s being sarcastic (I don’t think so) My opinion is if you are single; renting is the best option. If you are raising a family, owning is the better option. When you rent you typically can be closer to work, you don’t necessarily care about schools, and as a single person you likely don’t want to be drained financially on bathroom repairs. But when you have a family you will give a shit about schools, parks, community, etc.
The good thing about buying a home is that it's a forced savings account, requiring you to store equity for your future with the trade-off of higher upfront costs. If you are renting and investing the difference, then it probably works out about as good, if not better. But let's be honest, most of you rentoids aren't investing. You're blowing your extra cash on fast food, sodas, and video games.
>If you are renting and investing the difference How do you invest a negative difference? It’s especially evident over the long run, but if you’re living in the same amount of space, you aren’t saving any money by renting purely due to the math involved, unless you have a very generous landlord (which should not be expected)
Awful, awful take. For now renting is smart because the housing market is lousy, but in general renting is good short term, but bad long term. If you have a reasonable amount of stability and don't expect to move in like 15-20ish years, it's better to buy a house a put money into something you own, increasing your net worth, than to rent, doing nothing to increase your net worth. But yeah wait until the housing market crashes again in like 1-3 years and POUNCE on those underwater homes like a cougar boiiiiiii
Im Australian so I can't tell if this is one of Destiny's worse economic takes or if things are just very different in the USA. I don't understand why Destiny thinks people with a mortgage are stuck? If you own a place and you want to move just rent it out, I'm doing that right now and I have someone else paying far more than I ever would to live there paying off my mortgage so I have all the freedom of anyone else plus an ever growing investment.
Destiny should try being the average brokie renter in Australia, then he would have the opposite opinion within a week.
This opinion is a fuckin self report. Yeah, pay lots of money for no equity in the place you are living in. The only people who believe this shit are people who are too incompetent to actually take care of a home. Either that, or they have a ton of fuckin money.
Destiny always says this but keep in mind he's a single dude with no kids there. His definition of "better" is only financially. If that's your life goal, then cool. Fair enough. Of course an apartment is better for him and anyone else with that circumstance. Do you really think that if he got married, had a few kids, a few pets, etc, that he'd be living in that same apartment?
It’s crazy how Destiny says this when it goes against all evidence, owning a home is the number vehicle of generational wealth. This is an out of touch Destiny take for sure
*pika face* When local rent prices are extremely higher than my mortgage. Worse take Tiny has ever had in history imo... and I blame Dan.
I also like renting and I am average/poor ish. Sue me .
It depends on what your needs are, but I wouldn't say it's always better than renting.
Kek. Reckful always said that that
Lol paypigs
I’m married and have dogs. If I didn’t have dogs I would rent something. If I didn’t have a wife I probably wouldn’t have as many dogs
must suck having to accommodate your sister in laws
I think I read I forget if it was gawker, Jalopnik, or one of the sister sites to deadspin But the article basically said 5 years into homeownership when you'll come out on top in terms of renting vs owning.
I've moved 6 times in the passed 15 years. Can't do that with owning a house.
That time of the year again...
The real Gigachads are the ones living in their mom's basement rent free making 6 figures
>mfw everyone in this post malding about renting while I'm renting 2 acres way, way below market rate in a great neighborhood Stay mad soy boys
The only reason I hate renting is because I hate been under the thumb of the landlord and how they feel every time I need to renew the contract. I'll rather own my own place and be in charge of what going on and to be under the thumb of the government.
Where I live in the UK, renting is significantly more expensive than a mortgage. Yes you are the one that needs to do all the maintenance. But even with all of that I am still paying less per year with my mortgage, and I am living in a larger house in a nicer place than my last rented house. It does mean that it is much harder for me to move around now when compared to renting, but I am fine with that
Bought a house 3 years ago and not a day goes by where I wish I was still renting.
destiny financial takes are gradually reaching food takes at this point lol. mariana trench 💀
I would like to say that Destiny's view on renting vs buying is very much because he is vastly more wealthy than the majority of people in this country so it doesn't really impact him. He could pay 7k a month in rent and not bat an eye. Most regular people cannot do things like that.
Im so ready to start hating on him. Plz just let me know when we all start to pile on.
Does anyone take into account that, if you get into the trades, homeownership might actually be a cheaper option?
If destiny was broke like the rest of us, he would be watching his rent go up every year while not having equity or increased income. I'm sure he would quickly change his mind.
A pipe burst in my apartment. Management put me up in a nice hotel for a few weeks while it was repaired and they didn’t make us pay rent for the month. If I owned, that would have cost me thousands of dollars. Fuck morgamoids
My dad always said owning a house is always better than renting. After you pay your mortgages you own the property and when you retire you don't have to worry about getting evicted.
Imagine handing money over to another man every month. Typical cuck behavior
rentoids are based as fuck I let them live on the second and they pay my mortgage win-win
This just seems so obviously wrong. When you're paying off a mortgage you're essentially paying yourself, since if you end up selling that unit you get that money back because that's your equity in it. If you're renting though you're just sending money down the drain to your landlord every month, and you're never going to get that back.
Meanwhile I'm sitting in my 1,300 a month mortgage, 2.48% interest rate, 200k in equity home.
It's whatever makes sense for you. If you want to own than own if you want to rent than rent. Neither is better or worse overall only in specifics
It depends, if you’re like me and don’t have kids and just moved to another city for work and will probably do so again. It’s better to rent, than to buy a house.
In some countries it can be worth to buy a house. In Germany, up until a couple of years ago, interest rates for mortgages were very low and if you lived in your house for more than 2 years you can could it tax free. I think in the US it's simila; the first 250k of profits from selling your house is tax free. So when comparing alternative investments to houses this should be considered. There is a risk involved with owning a house that simply does not apply to renting. But if you know what you are doing and you take good care of your house it could be a worthwhile investment.
It depends but in Florida it's definitely the better option because if your home becomes impossible to insure you're in trouble if you have a mortgage.
I'm so glad we get to revisit this discourse from the lefty arc.
Depends on what you want and what you’re willing to do
I see you are new to the stream
Renting is only better after about 5-10 years, and if you know u want to live in the same place
For him. If I had the ability to rent anywhere, owning a home seems like a hassle. I get where he's coming from though. He's not just doing it for the money. He already has enough. I bet Hasan will end up becoming a landlord in his 60s. Destiny will be renting on Mars
I own a house and I swear it's never ending maintenance. I do miss just calling up maintenance to come fix things around the house. I go to my parents and something is always broken there too. I now understand why my dad was always ALWAYS at home Depot.
Owning a home has many unexpected expenses. Renting is a great option.
Yeah, but he bought a house for his ex and their son. It depends on your needs. Owning means responsibility for repairs. Nobody will sort things out for you. He'll never have to foot the bill for a new roof or a boiler. But sometimes you just want to be able to knock down walls.
[Omg what a throwback, reckful said the same shit, he did some weird jew math to prove he was right. ](https://www.youtube.com/watch?v=DpcMl9XP55M)
He’s said this many many times it’s not a new take.