logik23
Legacy Member
Yeah but you're in butt fuck nowhere
Renting vs Buying - The eternal debate
- Thread starter PsychoBandito
- Start date
Yeah but you're in butt fuck nowhere
bertro
New member
it's not all about money. it depends on what works best for you at that moment in life. it's better to be flexible than to turn a choice into a "religion" and stick with it against all reason.
We moved from a $1100/mo rental appartment in the city to a $1500 mortgage+tax house 30km away. Now, a few years later, we're looking to sell the house and rent a townhouse in the city for $1500-$1600. This might look like it makes no sense from a strictly financial point of view, but we'll save time and effort (commute, property maintenance) and we'll have the freedom to change city or province much quicker if we decide to. A few years down the line I'm sure we'll decide to buy a house again.
We moved from a $1100/mo rental appartment in the city to a $1500 mortgage+tax house 30km away. Now, a few years later, we're looking to sell the house and rent a townhouse in the city for $1500-$1600. This might look like it makes no sense from a strictly financial point of view, but we'll save time and effort (commute, property maintenance) and we'll have the freedom to change city or province much quicker if we decide to. A few years down the line I'm sure we'll decide to buy a house again.
Quick599
Well-known member
Really? Within walking distance I've got:
Iga
Metro
Proxim
Bank
Rona
Home Hardware
SAQ
Dollorama
Tim Horton
Subway
Belle Province
Dairy Queen
Parc Chartier-De Lotbinière
Arbrashka
Hiking Trails
Skiing is 5 minutes away (Car)
My job in Montreal is 20 minutes away. (Usually no traffic)
AudioAltima
New member
Also, not even financially speaking, a house (not a condo or townhouse... depending on the townhouse) will most likely be better for those who enjoy the privacy, space etc.
Was in a condo before, hated it (luckily profited pretty well on the sale), and bought a house. Problem with the condo (same as appartment), was usable space.... no 'real backyard', limited parking (we had 2 assigned spots, but still)....
Yes i now have maintenance to do (above and beyond the condo), cutting grass, garden, shoveling, etc. However I'm on a quiet street, 4 car driveway, and a personnal garage (not shared with 10+ others). I have a backyard, which will be fenced in this spring, and I could put what I want in my yard... spa, pool, cabanon, etc... any changes I'd like to make on the exterior I'm allowed too, and don't have to ask a conseil (condo) before doing so.
Financially, owning and renting are very close (assuming the owner never sells his home) .... all calculations to this extent are based on a per annum percentage based increase in value. This isn't always correct (read, hardly ever). As things get changed on a home, the value increases, and the percentage is only based on a demographic, not on what is in the home.
Anyways, this is a useless debate, as this is personnaly opinion for the most part, and the "hardcore" renters will come and try and sway my needs to make me thinking that renting is better for me.... rent if you want, by if you want.... it comes down to that. People have different wants and needs....
Was in a condo before, hated it (luckily profited pretty well on the sale), and bought a house. Problem with the condo (same as appartment), was usable space.... no 'real backyard', limited parking (we had 2 assigned spots, but still)....
Yes i now have maintenance to do (above and beyond the condo), cutting grass, garden, shoveling, etc. However I'm on a quiet street, 4 car driveway, and a personnal garage (not shared with 10+ others). I have a backyard, which will be fenced in this spring, and I could put what I want in my yard... spa, pool, cabanon, etc... any changes I'd like to make on the exterior I'm allowed too, and don't have to ask a conseil (condo) before doing so.
Financially, owning and renting are very close (assuming the owner never sells his home) .... all calculations to this extent are based on a per annum percentage based increase in value. This isn't always correct (read, hardly ever). As things get changed on a home, the value increases, and the percentage is only based on a demographic, not on what is in the home.
Anyways, this is a useless debate, as this is personnaly opinion for the most part, and the "hardcore" renters will come and try and sway my needs to make me thinking that renting is better for me.... rent if you want, by if you want.... it comes down to that. People have different wants and needs....
Jcomprend pas pourquoi les gens sont vendu soit sur lachat soit sur le renting , cest tellement relatif a la situation de tous et chaquun!
si tu achetes et que tu restes la 2-4ans , tes chances detre gagnant sont fucking mince!
Reste la 2ans+ , tu payes 2ans+ de taxes , 2 ans+ dentretient si stune maison ou sinon , 2ans+ de frais de condo ktu reverras jamais surtout si aucun travail majeur est effectuer sur le condo pendant ktu y habite , tas juste payer tes interets ton capital reste le meme pis sa veut pas dire ktu va vendre ta maison a profit.
Miser sur une maison pour se faire du profit cest ( exageration ) pratiquement comme simproviser courtier a la bourse , ya que tres peut de gens qui auront la chance den sortir gagnant pour vrais!
qq1 qui sen fou detre proprietaire pour lui cest de largent sauver , ya rien dmal a spogner un ptit 4 et demi chauffer eclairer pour 800$ par mois!
Quand c rendu ktu penses que tu fais un bon move de businessman en achetant un endroit ou rester ... serieux la... come on guys..
pis la vous allez me sortir vos exceptions , si cest lcas , jsuis content pour vous!!!
si tu achetes et que tu restes la 2-4ans , tes chances detre gagnant sont fucking mince!
Reste la 2ans+ , tu payes 2ans+ de taxes , 2 ans+ dentretient si stune maison ou sinon , 2ans+ de frais de condo ktu reverras jamais surtout si aucun travail majeur est effectuer sur le condo pendant ktu y habite , tas juste payer tes interets ton capital reste le meme pis sa veut pas dire ktu va vendre ta maison a profit.
Miser sur une maison pour se faire du profit cest ( exageration ) pratiquement comme simproviser courtier a la bourse , ya que tres peut de gens qui auront la chance den sortir gagnant pour vrais!
qq1 qui sen fou detre proprietaire pour lui cest de largent sauver , ya rien dmal a spogner un ptit 4 et demi chauffer eclairer pour 800$ par mois!
Quand c rendu ktu penses que tu fais un bon move de businessman en achetant un endroit ou rester ... serieux la... come on guys..
pis la vous allez me sortir vos exceptions , si cest lcas , jsuis content pour vous!!!
Shield4life
New member
If you got the $$$ and know how to manage it well then buying is the way to go because it's an investment.
If you got the $$$ or don't, or just don't know how to manage your money ... rent is the way you go ... but at the end of the line you still don't owe anything. Even if you do save on average of 500-600 per month I'm sure you manage to spend it elsewhere!
I got a mortgage paid of in 15 years for my duplex. Now using that rental income to pay up my current mortgage in 5 years I don't pay a penny for mortgage / taxes!
Simple use your $$$ wisely.
I'm not saying go buy a 500 000 $ off the bat and try to pay it because you probably won't make it out a live. Get yourself a rental property, paid it off faster then it's supposed to be to save you some $$$ and bam your practicly set.
Waiting prices to drop to get another duplex!
If you got the $$$ or don't, or just don't know how to manage your money ... rent is the way you go ... but at the end of the line you still don't owe anything. Even if you do save on average of 500-600 per month I'm sure you manage to spend it elsewhere!
I got a mortgage paid of in 15 years for my duplex. Now using that rental income to pay up my current mortgage in 5 years I don't pay a penny for mortgage / taxes!
Simple use your $$$ wisely.
I'm not saying go buy a 500 000 $ off the bat and try to pay it because you probably won't make it out a live. Get yourself a rental property, paid it off faster then it's supposed to be to save you some $$$ and bam your practicly set.
Waiting prices to drop to get another duplex!
MrSpace
Legacy Member
There's much more to it than that.
If you are likely to move within a few years, because of work, needing a bigger space or others, then you're often better off renting. But if you are absolutely sure that you can stay in the same spot for a long time, the risk is less to buy.
Also, the further away you are from the cities, the riskier it is if you loose your job as you may be forced to sell at the market for ice at that time.
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logik23
Legacy Member
Exactly my point...middle of nowhere.
Quick599
Well-known member
So I guess anyone who lives close to Mont Royal live in the middle of nowhere. ROFL
Stop your trolling iLogik23.
R6BOY
New member
In my case I bought a condo for 179k 3 years ago.
My mortgage/taxes/condo fees come to around 1100$/month.
Condo was brand new in a nice part of town which is still in major development.
Same condos in the building are renting for 1200$. There is no one here that's gona prove me wrong than in most cases specialy around ottawa, it's better to buy.
Condos are now selling for roughly 200-205000$. Yes there is interest and possible problems related but all in all I saved money buying vs renting same condo and comfort and can get out of it after 3 years with 20k in my pocket.
I am not sure how the situation is in mtl though.
Renting something way inferior in a different part of town might have been a different story but I love my comfort zone in my own place that eventually I can rent and have someone else pay for it without costing me an arm and a leg.
My mortgage/taxes/condo fees come to around 1100$/month.
Condo was brand new in a nice part of town which is still in major development.
Same condos in the building are renting for 1200$. There is no one here that's gona prove me wrong than in most cases specialy around ottawa, it's better to buy.
Condos are now selling for roughly 200-205000$. Yes there is interest and possible problems related but all in all I saved money buying vs renting same condo and comfort and can get out of it after 3 years with 20k in my pocket.
I am not sure how the situation is in mtl though.
Renting something way inferior in a different part of town might have been a different story but I love my comfort zone in my own place that eventually I can rent and have someone else pay for it without costing me an arm and a leg.
Lexus
Moderator
C'est pour ca que jamais il faudrait calculer comme ca. Il faut prendre la maison/condo ou on aimerait vivre et ensuite regarder le cout de louer quelque chose comme ca ou le cout de l'acheter.
Compare le couts entre acheter une maison de 500K et vivre dans un 3 1/2 a Montreal-nord, c'est pas un calcul fair.
Lexus
Moderator
And what is he supposed to be in the middle of?
logik23
Legacy Member
Not a forest
telram
Legacy Member
Agreed, if the location is QC, then your are best to not buy right now. The current government will kill the real estate market.
Apate
New member
Pas pris le temps de lire tout le thread ... Principe étant, personellement j'ai une famille, deux chiens enfants etc.... j'aime bien sa la fin de semaine regarder ma fille se baigner en étant assis sur mon patio en buvant une bière, sans qu'aucuns voisins me vois à cause de ma haie de cèdre. Que les animaux puisse courrire dans la cours sans être déranger etc ... c'est plus une question de qualité de vie en ce qui me concerne.
Je vois plus mon toît comme un besoin plutôt qu'un investissement, dans les deux cas. L'achat, avec les mesures prises me permettrons d'avoir ma maison payé dans le millieu de la trentaine, un avantage que je ne pourrais pas avoir avec la location.
Qu'à cela ne tienne, avec une famille, je ne vois pas vraiment aucuns avantage à louer. (voir prix des maisons en locations similaire à la mienne exhorbitant.) Même le ficher Excel de MrSpace avec une appréciation de 1% me dis qu'acheter reviens moins chère.
Je vois plus mon toît comme un besoin plutôt qu'un investissement, dans les deux cas. L'achat, avec les mesures prises me permettrons d'avoir ma maison payé dans le millieu de la trentaine, un avantage que je ne pourrais pas avoir avec la location.
Qu'à cela ne tienne, avec une famille, je ne vois pas vraiment aucuns avantage à louer. (voir prix des maisons en locations similaire à la mienne exhorbitant.) Même le ficher Excel de MrSpace avec une appréciation de 1% me dis qu'acheter reviens moins chère.
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Lexus
Moderator
Je pense que c'est la cas pour bcp des regions avec des maisons. Elles sont rares a louer et les prix sont tres hauts. Ca c'est le calcul que moi j;ai faite aussi et louer une maison dans mon coin et de ~200$ plus cher que mon hypotheque+taxes municipales&scolaires
Dans le marche des condos il y a bcp plus d'offre et ca a l'air que les prix pour louer sont plus proches des prix des hypotheques.
racingmontreal
New member
Buy! duh! Why would you want to waste money on rent?
MrSpace
Legacy Member
Typical clueless comment.
You don't know that you're talking aobout.
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