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View Poll Results: Rent or own?

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  • Rent

    40 50.63%
  • Own

    30 37.97%
  • Rent to own

    0 0%
  • Neither/Other

    9 11.39%
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Thread: Do you rent or own?

  1. Senior Member
    z32chick's Avatar
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    #11
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    We own both of our homes

    DH bought the house in Florida before we knew each other, and we decided to keep it and rent it out while we are up here because we are eventually moving back down there and it's an amazing house in a wonderful neighborhood. We're probably going to grow old in that house..

    We were going to rent for our duration in Norfolk, but had a hard time finding a nice rental that also allowed 2 big dogs.. We ended up renting for a month or so, but the house had issues and the landlord wasn't concerned. On top of that, our rent was about $400 more than the mortgage for the house we ended up buying, and we're getting equity into a house instead of "throwing away" that money. This house is also great! It's smaller than the Fl house (which is nice because the FL house was really too big for just me and him) AND it has an attached garage AND a detached workshop/garage and HUGE backyard. Since this is such a big military town, we don't see an issue with renting this place out when we leave..
  2. Banned
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    #12
    I own a pretty decent sized condo. I came across an inheritance and decided to invest it in a down payment of a home.
  3. By the power of Greyskull...
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    #13
    We own. We purchased about a week before the homebuyer credit ended a few years ago. At the time we had planned to stay here a while. I'm not sure what we'll do when DH joins next year. This house was on the market for a year, but again, that was a few years ago. It might sit for a while since there is a lot of new construction in our town or it might sell right away. If we can't sell we'll probably just rent it out.

    ETA- I'd be open to renting again. At least in our town we normally get other perks (cable, water/sewer, HOA fees) included. It'd be nice to not have to worry about mowing the lawn or hoping an appliance doesn't break.
  4. Senior Member
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    #14
    We own... Three times over. Real estate is something I really like but I wanted to become a landlord as a supplement to our retirement plan
  5. Senior Member
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    #15
    Quote Originally Posted by Debra View Post
    We lucked out. DH's BAH covers our entire mortgage.
    Oh i'm not saying that, I am saying that depending on the when and where, sometimes rent will get you a lot more than buying. For example, out landlords pay about 3000 a month on their mortgage. We are paying them 2200 in rent a month. its a 3 3. If we were to try to buy, that 2200 might get us a 1/1 in this area.
    So the idea that renting is foolish (I know you didn't use that term) because you could be paying a mortgage and owning your own home is not always correct. Then, like us, if you have to move across country, you could get stuck with the house and the mortgage and losing money.
    The decision to buy or sell is much harder and takes a lot more research than it used to. Thats kinda what i'm trying to say.
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    #16
    I HATE paying rent here now that I've seen how much mortgages on comparable homes are. Our house is about $300 more per month than our mortgage would have been on the bigger, better-condition homes we were considering buying. I just have to keep telling myself that we are paying for flexibility and buying time until we are better situated to buy what we really want.
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    #17
    Other: Both.

    We own in VA and currently rent in CA. We hate renting.
  8. Senior Member
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    #18
    Quote Originally Posted by Guynavywife View Post
    Oh i'm not saying that, I am saying that depending on the when and where, sometimes rent will get you a lot more than buying. For example, out landlords pay about 3000 a month on their mortgage. We are paying them 2200 in rent a month. its a 3 3. If we were to try to buy, that 2200 might get us a 1/1 in this area.
    So the idea that renting is foolish (I know you didn't use that term) because you could be paying a mortgage and owning your own home is not always correct. Then, like us, if you have to move across country, you could get stuck with the house and the mortgage and losing money.
    The decision to buy or sell is much harder and takes a lot more research than it used to. Thats kinda what i'm trying to say.
    I see what you are saying. For us this time, it worked out. Who's to say that next it would be better to rent?! Our house is 2500sq ft I believe, 2 story, 3 bed, 2 1/2 bath, loft, office, 2 car garage, etc. I never saw anything that compared for anything close to our BAH. We did look at the PPV housing but those were like living in a matchbox car. And base housing has an 18 month wait list.

    In this situation, I think it will work. DH is 4 years from retirement & as of right now, he wants to retire here. We'll see.
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  9. BingBangBoom that's how babies are made
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    #19
    We rent. Not going to buy a house somewhere we won't settle down in or will have to leave eventually.

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    #20
    This is interesting. Where DB is stationed a mortgage on a nice house is about the same (maybe $20-$50 more?) than rent. If I were moving down there and we knew he was going to be there for a few more years I'd probably want to buy a house because it's worth it IMO. But if he moved up here to Alexandria, the houses are insanely expensive and I don't think I'd want to own a home here for a few more years.

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