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Watching: Renting vs. buying a home
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Latest comments made on this video:
By: BuenosAires18. on 27 May 12, 19:11:17
i think buying? a house is always a good investment. taking out a huge loan to buy a house is a bad idea i think. also, how can the houses be identical. i doubt you can rent a million dollar hous for 3 000 a month. obviously renting would be better in this case.
By: NationalHomebuyers. on 25 May 12, 10:20:35
This video is very informative and we enjoyed watching it. Thank you very much - National? Homebuyers
By: alexramsaymusic. on 23 May 12, 16:42:11
nice job? predicting the burst of the housing bubble.
By: GrinNBarrett. on 17 May 12, 20:42:37
or give the house to your son or daughter for her family in your elder years with the stipulation he/she or they can not do anything with it till you die which I am doing now they live here for 300.00 a month (the house is paid for) I pay? 300 a month and that coveres all the bills and they live mortgage free and rent free how good is that?
By: UmTheMuse. on 14 May 12, 22:04:33
Those interest rates aren't anything like what we're seeing now (both for CD's? and for home loans), but let's assume those are reasonable. It seems to me that what you're really looking at is the cost of a mortgage versus the opportunity cost of renting. What about rent-to-own options or buying smaller homes and moving every couple of years? I don't know the answers; I'm just asking
By: rorschach775. on 13 May 12, 21:59:07
Not if you're fixing that shit all the time. ?
By: Izerion. on 30 Apr 12, 22:44:02
You are of course correct? when looking at only the first years of payments. But near the end (if you do indeed pay more than interest) the amount of interest you have to pay becomes less, and eventually zero. Also once you pay off your mortgage, you are able to sell the house back, whereas if you are renting you can not. I am not saying you are wrong but there are some other factors to consider that you skipped over in this video.
By: elephamoose. on 29 Apr 12, 06:48:24
Since this is geared towards first-time buyers, you lost my interest at the "million-dollar home" part. I don't? really think I'll be affording that on my elementary school teaching salary.....
By: sissisaona. on 28 Apr 12, 21:44:47
good calculation but dont forget by buying yes you are paying little more but at end of all you own a house and never have to pay rent again and? and you calculale the interest rate too high and you need to think economy not will be bad like today all the time. i made good money buying and selling my house in 2005 i couldnt get that kind of return from bank in 50 years. Basically it all comes to what do you want to do with your life and everybody have different ideas.
By: rodeo626. on 28 Apr 12, 21:10:03
Just got my loan? locked at 3.5%.
By: ljavery79. on 26 Apr 12, 17:47:36
@citizen0430? well what happens in your scenario if you rent...same thing...the mortgage is setup for the bank to win, why else would it take 30 yrs, fight the interest in making smart payments. The worse case scenario....well renters are left with no equity so that points mute regardless of a job or not. U enter in renting with that loss for your entire lease...
By: ljavery79. on 26 Apr 12, 17:42:44
@Top comment the money is in savings im assuming thats about compound interest and a? roth 401k but when the money is fiat and constantly being devalued ...gtfoh... own assets that produce income. Homes do that, if u buy an over valued prop, your losing, if not you win. Renting produces what income? equity?
By: FirstPersonShitter. on 26 Apr 12, 11:58:39
what bank did? u go to to get 4% these days ? great vid btw!
By: P01029. on 25 Apr 12, 15:45:57
"after a few years". if? u r not going to read what i wrote, i am not going to bother reading what you write.
By: citizen0430. on 25 Apr 12, 13:34:03
You are assuming that you'll always be employed. If you lose your source of income and can no longer pay the mortgage, sorry, but the bank will take that house back, and all that money you've paid into it will be gone to PLUS your credit will be? shot to the point where you will even have a hard time renting after that. Paying a mortgage is NOT ownership. Ownership is buying the property outright. Paying a mortgage, in my opinion, is like putting a computer on a credit card+ paying a bill monthly
By: citizen0430. on 25 Apr 12, 13:27:34
Not if you have money? already saved up.
By: citizen0430. on 25 Apr 12, 13:26:38
Financial adviser? Who can afford a financial? adviser other than the ones who are affiliated with banks, who will -- in turn -- try to push their financial products (including home loans) on you?
By: citizen0430. on 25 Apr 12, 13:16:20
But you are assuming that the owner of the million-dollar rental property doesn't already own the it out right. The million-dollar scenario is the value of the home. That does not mean that the owner is paying a mortgage on it.?
By: citizen0430. on 25 Apr 12, 13:13:49
Ah, but then you can move to a cheaper neighborhood once that year-long lease is up. Also, even if you pay off your mortgage, you still have to property taxes and by that time, your home will be a maintenance nightmare because things like septic tanks start going bad. Depending on the style or design of the house, the foundation starts crumbling and leaning. It all depends.?
By: citizen0430. on 25 Apr 12, 13:10:02
Actually, that is perfectly possible.? I'm not sure about Northern California, but I know of people here in South Florida, who are renting million-dollar condos in Downtown, Miami for a little over 3K/month.
By: citizen0430. on 25 Apr 12, 13:07:56
It's not JUST about the house, though. How is the surrounding neighborhood? Is it close? to work? Do you have to drive 45 minutes to get to "civilization"? Stuff like that factors into a home purchase and renting, too, doesn't it? In other words, it's not just about how "nice" the house is, necessarily.
By: citizen0430. on 25 Apr 12, 13:03:40
Not necessarily now, but one could back in 2008 when this video was first uploaded.?
By: citizen0430. on 25 Apr 12, 13:03:09
Exactly! I don't know why people don't get that. Also, when? people say, "Renting is throwing your money away," I always tell them that that is the most condescending statement EVER! It is NOT throwing money away. When I rent my apartment, I am getting, in exchange for that monthly bill, a roof over my head and square-footage to store my stuff and my cat, thank you very much. I have been renting for seven years in the same neighborhood, and I happen to love it.
By: SockPuppetCommentary. on 24 Apr 12, 09:38:02
There is no way in the world you are getting approved for a $750,000 mortgage? when you only make $100,000 per year...
By: sang3Eta. on 23 Apr 12, 11:57:57
In my country the renter pays the? property tax. It's no wonder the US property market is a mess if your asset is a liability. o.O