The Ohio Random Thread... aka We Should Probably Be Working
- Thread starter THE Phen
- Start date
Congrats
I just spent 3.5 hours last night with a roto-rooter and root saw clearing my sewer lateral. [sarcasm]I enjoy greatly being covered in sewage. [/sarcasm]
I absolutely hated renting and never ever want to do that again. For about $100 more a month (and a big chunk of savings) I went from a 750 sq. ft. two bedroom apartment with a bad kitchen and no yard or garage to 1800 sq. ft. 4 bedroom house w/ 2 car garage, basement, large deck on .34 acres. Plus instead of giving someone else my money I'm building equity that I can use later to improve/update/fix my house.
it's kinda like leasing a car to me. If you're not going to stay long it makes sense to rent.
yea I can only get money for sure a year at a time through financial aid. Instead of living on campus I can rent a place for cheaper and not have to live with anyone.That how I have a healthy budget. I wish I could buy a place but my income isn't as stead as i would need it to be to get approved for anything.
it went from 4 miles to 8
that's not bad.
To buy a house that big and not have an over 30 minute commute it'll either cost a small fortune or be a pos in the ghetto. Neither is ok and I'm not giving up my 15 minutes drive to work soooo renting it is.
Oh, and ohio sucks b@lls - not going to put my kids through this state's sh*t weather and roads.
To buy a house that big and not have an over 30 minute commute it'll either cost a small fortune or be a pos in the ghetto. Neither is ok and I'm not giving up my 15 minutes drive to work soooo renting it is.
Oh, and ohio sucks b@lls - not going to put my kids through this state's sh*t weather and roads.
im with Nate... I have hated renting, each year im spending 6k (+ or -) for rent with nothing to show for it for the last 8 years... with buying this house for about 100 bucks more than i pay in rent, im getting a pretty nice house, will start to build equity instead of just paying money to someone else, its a wise investment right now IMO... hell im buying mine for 10k less than its been appraised/valued for and thats money down the road that will only increase as this house does need some little TLC here and there, some things i plan to do to this place should increase the value even more including finishing off the unfinished second/basement floor, i start finishing that off and easily double the size of my house... but its a good set up to start with 2BR, 1.5 bathrooms with a garage and a back yard big enough to entertain ( ~.28 acres so enough for fire pit, patio, cornhole and even a pool down the road if i really wanted)
My drive goes from about 10 miles (90% highway, 15 mins tops) to about 12 miles primarily back roads (20-25 mins)
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Fiji Mazda3
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I love having a house. There's been a few hiccups but after living next to a smoker for 6 months, it's worth it. I mean, I can go out and enjoy this whenever I want.
I don't know if any of the home owners/soon to be home owners have mentioned the biggest downside to owning a home...the fact that every single thing that goes wrong with the house is now on YOU? Want to take that trip to Mid-Ohio this year? Oh damn...one of the upstairs windows sprung a leak, gotta fix it. Found a killer deal on some new wheels? Forget about it...water heater took a s***, need a new one. Down payment on a new car? Uh oh...city stopped by, said they have to rip up your front yard and replace some pipes, gonna cost you your down payment. (that one might be extreme, but you know what I mean. Ask Larry how much it was to replace his main water line to his house and whack the tree down that messed it up in the first place!)
I know you get a home inspection, so you know what's wrong with the house, and blah blah blah, but that doesn't mean s***'s not gonna hit the fan at any given point in time. Especially after you watch some of these HGTV shows, where they flip a foreclosure or some other giant remodel...it's amazing how much hidden crap can be wrong with a house! Holmes on Homes will show you that, not all home inspectors know what they're talking about! Hell, my brother bought his house brand-spanking new 7 years ago, and he's already had to replace the water heater and refrigerator (no fault of his), and the place needs new carpet, paint, and drywall work around the windows from his giant German Shepherd (fault of his, but still stuff to think about and stuff that could cost you if you have pets)
Don't get me wrong, I hate renting as much as you guys, but just because you're "building equity for the same amount as you were paying rent" doesn't mean home ownership is all peaches and cream. Knowing you're 100% on your own for ANY and EVERY thing with your home is a pretty scary thought, and often what keeps people renting. Sometimes renting just works better for a person's situation too, I know we'll be renting for at least a few more years. We could probably get away with a cheaper starter home right now for like, 5-10yrs, but we're just gonna hold off a little longer so we can just move right up to our dream home after I get all certified as a controller.
I know you get a home inspection, so you know what's wrong with the house, and blah blah blah, but that doesn't mean s***'s not gonna hit the fan at any given point in time. Especially after you watch some of these HGTV shows, where they flip a foreclosure or some other giant remodel...it's amazing how much hidden crap can be wrong with a house! Holmes on Homes will show you that, not all home inspectors know what they're talking about! Hell, my brother bought his house brand-spanking new 7 years ago, and he's already had to replace the water heater and refrigerator (no fault of his), and the place needs new carpet, paint, and drywall work around the windows from his giant German Shepherd (fault of his, but still stuff to think about and stuff that could cost you if you have pets)
Don't get me wrong, I hate renting as much as you guys, but just because you're "building equity for the same amount as you were paying rent" doesn't mean home ownership is all peaches and cream. Knowing you're 100% on your own for ANY and EVERY thing with your home is a pretty scary thought, and often what keeps people renting. Sometimes renting just works better for a person's situation too, I know we'll be renting for at least a few more years. We could probably get away with a cheaper starter home right now for like, 5-10yrs, but we're just gonna hold off a little longer so we can just move right up to our dream home after I get all certified as a controller.
I have the exact same lugs from Summit. I definitely like them. The adapter is small so you don't scratch up the wheels with the socket.
I've taken all that into consideration, I pretty much took care of everything at my mom's house for the last 8 years. While I didn't write the checks or buy the supplies, I have a pretty good idea of what it takes so there's a savings account just for that. Plus the equity that you build you can borrow against in the form of a Personal Credit Line (that's what Huntington calls it) for any major things and has a much lower interest rate than a credit card. I expect problems, and hopefully when those come I can turn those into upgraded solutions. I'm not saying buying is the only way to go, just the way I would rather go. Plus I'm in a fortunate enough situation that we were able to find a home in our price range we could be in until retirement if we want.
Amber hates Holmes on Homes, I think it's his accent.
That's a great way to think about it. Plus, the freedom to do whatever you want to do. Plant a garden, install a basketball hoop/court, change your flower beds around, mow the lawn shorter, etc.......
Yea, it costs you money, but you do get an equity out of it. Plus you can claim interest paid on taxes, rent has zero benefits/equity other than keeping a roof over your head.
We went from $1200/month renting a 1000 sq ft 2nd level apartment to $1600/month (paying additional principle each month) for a 1500 sq ft house with a two-car garage on a .6 acre lot. I went from a 30 mi daily commute to an 8 mi daily commute. Sure, homeowning brings it's own expenses and challenges. In our first year of ownership we had to: replace the A/C coil, replace/update the windows, purchase lawnmowerS, etc. We also took it upon ourselves to remodel the kitchen, replace the main level carpet with bamboo flooring, upgrade the front and rear doors, and install ceiling fans in every bedroom. The only required utilities I pay for now I didn't before are heat (gas) and waste removal, but I'm sure that was factored into the monthly rent at the apartment. We've probably invested close to $20k into this house on top of our downpayment and I'd gladly do it all again to avoid:
-Deadbeat landlords
-Deadbeat neighbors
-Fighting for parking spaces
-Chain-smoking neighbors
-Damage to cars from neighbors who can't park, neighbors kids, apartment maintenance crews, etc.
-Dog s***-infested "parks"
-Stolen mail/packages
-Noisy neighbors above, below, and beside us
Unless you're living someplace temporarily (~1 year max) renting is always a losing venture. You're actually throwing money away.
-Deadbeat landlords
-Deadbeat neighbors
-Fighting for parking spaces
-Chain-smoking neighbors
-Damage to cars from neighbors who can't park, neighbors kids, apartment maintenance crews, etc.
-Dog s***-infested "parks"
-Stolen mail/packages
-Noisy neighbors above, below, and beside us
Unless you're living someplace temporarily (~1 year max) renting is always a losing venture. You're actually throwing money away.
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