Renting v. Buying by Eric Bostrand https://padlet.com/eric_bostrand/bg8aftdv9xzq en-us 2016-04-26 20:01:43 UTC 2022-04-21 01:56:49 UTC hello@padlet.com https://padlet-assets.storage.googleapis.com/portrait/sticky.jpg https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/108111071 2016-04-27 18:48:38 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/108111071 If housing falls in value that will drop your net worth 8013758 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150389966 2022-04-20 13:55:32 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150389966 No rent payment 8013758 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150390389 2022-04-20 13:55:49 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150390389 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150391209 -no property tax
-no homeowners insurance
-lower monthly payments
-no maintenance]]> 2022-04-20 13:56:22 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150391209 No help with maintenance, have to fix issues yourself or pay for someone to come fix them for you https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150391384 2022-04-20 13:56:28 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150391384 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150392170
  • May be cheaper than a mortgage payment.
  • Fewer (if any) maintenance costs.
  • No down payment required (less deposit)
  • No real estate taxes (renters insurance optional)
  • Less stress (who cares, it's not yours!)
  • Freedom to move or downsize when necessary.
  • No risk of home price depreciation.

    • ]]>     2022-04-20 13:56:57 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150392170     More stable because you don't have to leave https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150392523 2022-04-20 13:57:10 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150392523 8020044 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150392588 you own it ]]> 2022-04-20 13:57:13 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150392588 Money you pay in rent you dont get back like when you sell a house. https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150392681 2022-04-20 13:57:15 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150392681 More freedom to move or downsize because you don't have to wait for your house to sell https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150392719 2022-04-20 13:57:17 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150392719 no property tax, no down payment required https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150393282 2022-04-20 13:57:36 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150393282 Short term commitment https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150393479 2022-04-20 13:57:44 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150393479 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150393498 -may not be allowed pets or certain items
    -you're at the mercy of your landlord for maintenance, cost, and stability
    -no right of ownership
    -less space/storage
    -you can't make any changes to your house or your apartment without your landlord's approval.


    ]]>     2022-04-20 13:57:44 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150393498     certain things cannot be done 8020044 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150393512 2022-04-20 13:57:45 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150393512 No tax benefits, landlord can raise rent whenever they want https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150393580 2022-04-20 13:57:47 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150393580 More rules https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150393786 2022-04-20 13:57:55 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150393786 Privacy Usually a good investment More stable housing costs from year to year Pride in ownership and strong community ties Tax incentives Equity buildup (savings) https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150394007 2022-04-20 13:58:03 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150394007 Lower housing costs Shorter-term commitment No/minimal maintenance and repair costs https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150394660 2022-04-20 13:58:27 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150394660 tax 8020044 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150394855 2022-04-20 13:58:36 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150394855 You can be forced to move out at any time and may not be able to purchase your own house if you want to 8013758 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150395265 2022-04-20 13:58:52 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150395265 Harder https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150395277 2022-04-20 13:58:52 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150395277 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150395461 -You don't have to take care of landscaping, or maintenance around the apartment in general
    - Cheaper than buying 
    - You just have to pay and everything is done for you with water, utilities, etc
    - You have more flexibility to move or up/downsize if you want]]>     2022-04-20 13:58:59 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150395461     Appreciating investment, gives you the opportunity to build equity, has tax avantages https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150395577 2022-04-20 13:59:03 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150395577 Tax deduction https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150395585 2022-04-20 13:59:03 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150395585 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150395756 -more privacy
    -more stable housing costs from year to year
    -can help build credit score
    -invest and build equity
    -tax deductions]]>     2022-04-20 13:59:10 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150395756     Costs for home maintenance and repairs can impact savings quickly. https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150396093 2022-04-20 13:59:23 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150396093 Less flexible to sell https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150396122 2022-04-20 13:59:24 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150396122 Property taxes will cost you extra, over and above the expense of your mortgage https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150396817 2022-04-20 13:59:50 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150396817 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150397306 -Landlords can be hit or miss
    -If you have roommates, they can be hit or miss as well
    -You have to be careful with how your maintain the inside of the apartment (spilling things, putting holes in the walls, scratching the floors, etc]]>     2022-04-20 14:00:07 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150397306     https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150397406 -takes time to build equity
    -responsible for the work and cost of home repairs
    -property taxes and other recurring fees
    -longer committment
    -mortgage payments can be higher than rental payments.


    ]]>     2022-04-20 14:00:10 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150397406     Mortgage payments can be higher than rental payments. https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150397967 2022-04-20 14:00:29 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150397967 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150399780 You own it, so you don't have to be as careful about damages (you obviously don't want to damage your own property, but if you do you can handle it yourself with no landlords or anyone to deal with)]]> 2022-04-20 14:01:31 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150399780 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150401369 Less flexibility to move when you want because it's much more of a hassle and you are tied down to the place you own]]> 2022-04-20 14:02:31 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150401369 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150693191 cheaper way, no yard maintenance,not long term, can stay whenever. ]]> 2022-04-20 17:00:52 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150693191 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150694346 something can happen to landlord causing you to be kicked out, messes=expensive, house needs to be tidy]]> 2022-04-20 17:01:39 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150694346 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150695264 you can do whatever you want to the house. no worrying about having to move.]]> 2022-04-20 17:02:20 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150695264 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150695819 long-run, more expensive up front. ]]> 2022-04-20 17:02:47 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150695819 if you dont have a family yet then you can save your money for a house and just get a 1 or 2 bed room apartment https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150732683 2022-04-20 17:27:05 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150732683 if you want to leave your lease early because of an opportunity or anything changes you most likely can not just drop it. https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150733668 2022-04-20 17:27:43 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150733668 A cheaper way to have a place to live without completely buying a house or a property 8020389 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150736492 2022-04-20 17:29:23 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150736492 being able to just have a house and not have a "monthly" rent. you can do whatever you want to your landscaping,etc https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150736837 2022-04-20 17:29:37 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150736837 long run and can be paying off the loans for a while https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150737410 2022-04-20 17:30:00 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150737410 8020273 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150738450 security deposit could be taken ]]> 2022-04-20 17:30:35 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150738450 You don't own it so you have to be careful with what you are doing and how well you are taking care of things because you don't necessarily own any of it. 8020389 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150738668 2022-04-20 17:30:44 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150738668 That place is yours, you can do whatever you want with it. You don't have to worry about damages. You also have much more privacy because you are more on your own. 8020389 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150740229 2022-04-20 17:31:50 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150740229 The payments are higher. You have to keep up with a lot more. 8020389 https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150740790 2022-04-20 17:32:12 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2150740790 saves money because you dont need a monthly rent, you can also do what you want like paint walls, add a room, remodel etc. https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2151278357 2022-04-21 01:56:34 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2151278357 property tax https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2151278631 2022-04-21 01:56:49 UTC https://padlet.com/eric_bostrand/bg8aftdv9xzq/wish/2151278631