I hate renting...

BigDaddyLH

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Speaking for my area only, rent can legally only increase by 1.2% annually.

It's moving that gets you. Example - A family member and I used to live in the same building. In 2016 I moved out. My rent at the time was about $1050. Family member's was less caused they'd lived there about 3 years longer.

Fast forward to 2020. I looked at renting in that building again. Same unit now goes for $1300 That family member has not moved and their rent today is $1060.

Landlords can increase rent however they want when there's an opening, so it's always new renters who get the shaft. Once you find a good rental, you stay put.

I've known several people who went through "reno-viction". The landlord says they need to renovate so they get kicked out. How much renovation actually occurs? I don't know, but the rent goes up for the next tenant.
 

FuzzWatt

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Rentals are crazy high here.

They are. I keep saying this to my wife, only time will tell if I'm right;

I think in the not-so-distant future there will be a push, a narrative, to normalize grown adult couples living with roommates. Like, couple A who has two kids shares a house with couple B who has 1 or 2 kids.
 

loudboy

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Well, don’t rental costs go up too? I live in a small town and the cost of rent is just crazy. Five years ago I had a rental property (since sold) and was glad to get $1,300 a month. Today that same house would rent for at least $2,000 a month, probably more.
We rented our present home to a retired couple from 2009-2015, until we retired and moved out here. 3B/2B, 1700SF in a nice quiet neighborhood. $1400/mo.

I just saw on Nextdoor that a person was renting a spare bedroom in our neighborhood, just the bedroom, for $1000/mo. Our house would now rent easily for $3500/mo.

It's so bad here and in the surrounding towns, that a lot of businesses are going to reduced hours, people who would like to move here for work are turning down professional positions, because it's impossible to find housing. Crazy.
They are. I keep saying this to my wife, only time will tell if I'm right;

I think in the not-so-distant future there will be a push, a narrative, to normalize grown adult couples living with roommates. Like, couple A who has two kids shares a house with couple B who has 1 or 2 kids.
I hated having roommates when I was single and in my 20s. Can't conceive of it at that age.
 

SRHmusic

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I disagree, this relies on too many unknowns.
also, do both.
Yep, it's funny to me how many posts talk about this as an either-or, when there are so many variables and trade-offs for each area and personal situation. If you buy a home with a fixed rate mortgage, that part does not increase with inflation, and a chunk of money goes to equity after a while (like a savings account you can't touch/spend easily). Upkeep, taxes will likely increase, so each individual needs to do the math for themselves on how things might work out, make a plan, and revisit/revise it periodically. If you free up money to invest elsewhere, great. There is value in diversification and some value in having real, tangible property. And there are risks all around for things we can't predict. Renting is lower risk/ more flexible for being able to move quickly, but rents can go up fast like now. Also best to leave some margin and not take out a loan as big as the banks will say we can afford. Good luck out there.

(Oh, and 5% interest isn't really "high" if we look back over a few decades, but yeah we've gotten used to cheap loan money.)
 

bobio

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The wife and I rented a home in Orlando when we first moved there as we weren't exactly sure what part of town we wanted to be in. We rented for about a year while searching, we built our home in a development near where I worked. To me, renting is a temporary thing, nothing you would want to do long term. You walk away with nothing when you leave, except for maybe your security deposit.

Just my 2 cents :)
 
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Preacher

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Just an update...

the movers will be here tomorrow to pack us up and move us almost 1.5 miles away. I am pretty excited to get an actual yard and a privacy fence for the backyard. I am also excited that I can play an amp at the point of breakup and not have the neighbor bang on the wall. Actually I am excited to not have a neighbor on the other side of a wall from me. My neighbor left the house last night after a fight with his Mrs. (A weekly occurrence) and slammed the door so hard it almost knocked some pictures off the wall.

So long townhome, hello, actual home.
 

getbent

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Just an update...

the movers will be here tomorrow to pack us up and move us almost 1.5 miles away. I am pretty excited to get an actual yard and a privacy fence for the backyard. I am also excited that I can play an amp at the point of breakup and not have the neighbor bang on the wall. Actually I am excited to not have a neighbor on the other side of a wall from me. My neighbor left the house last night after a fight with his Mrs. (A weekly occurrence) and slammed the door so hard it almost knocked some pictures off the wall.

So long townhome, hello, actual home.

you realize that your housing situation is becoming 'must read tdp' right? You are a legend already, but this is all headed in 'the dullard' territory.... can't wait for the next installment!
 

Preacher

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you realize that your housing situation is becoming 'must read tdp' right? You are a legend already, but this is all headed in 'the dullard' territory.... can't wait for the next installment!
Awe Man, I miss the Good Texan and a good Dullard story...

I just post content for those like me that have nothing better to do or should be practicing guitar!
 

Preacher

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So I am sitting in a little cafe here in town enjoying a hot latte and their free wifi since the new place doesn't have wifi at this point. I will get to that later.

Move in day was last Friday and wow what a day.
Movers went to the new place instead of the old place where all of our stuff is. So they got a late start and then there was some confusion on how much "packing" we were to do before they came. (We told the boss we would do NO PACKING and that they would need to pack. The boss did not relay that to the crew as they were not prepared to pack our stuff)

My wife and I have only came close to killing the other three times during our marriage, all three times there was a move involved so for the sake of us both, we hire a moving company to make our moves now that we are both old, decrepit and just hate packing.

I decided that I wanted to move most of my guitars and amps myself, so I had loaded them into my truck and after the movers showed up I excused myself and drove over to the new place.
The keys were in the padlock box that these realtors use on the door now days. My wife seemed a little frustrated trying to get the door open so I stepped in and could not get the door open either. The door acted like the privacy lock (for rental units there is a dead bolt that can be opened from the inside only) had been engaged. No problem I will go to the back door. Same issue.
The only thing we could figure is that the realtor must have exited through the garage, used an opener to shut the garage or ran through before the door shut leaving the privacy locks engaged.

Two hours go by and the realtor and the rental company are trying to figure out how to get us into the house. The realtor is a waste of time, the rental company is sending a guy once he gets freed up to assist.
I go back over to the house in a panic as the movers will be done in a couple of hours and we have no entry to the new place to put out stuff.
I tried the doors again, still won't open although I know the two keyed locks are unlocked.

Frustrated I decided to throw a shoulder into the door. I figured if I broke the lock I could replace it as well as any trim that might be harmed. Miraculously the door opened.

Apparently the front door sticks (Which I took care of with a tweak to the hinge) and the rear door had the privacy lock engaged.

All good to go, except the movers did not bring enough space, so my truck ended up being filled as well. Finally about six PM that evening my wife and I got to sit in our unfinished living room and eat some take out.

That was the worst night sleep of my life. The house is too quiet. It sets in a secluded little area, very little traffic on the street where the old house was right off a highway.

The neighbors have nice dogs that don't bark at all hours of the night and from what I can tell they keep their kids inside. No one yelling in the apartment next door, no kids bouncing off the walls. My body aching from the little bit of moving I did, the sleep was not good.

Spent most of the weekend, Monday and Tuesday trying to find basic stuff in the mounds of boxes that littered the rooms.

As of this morning when I left for some cafe and wifi time, I had only left the house for church Sunday morning. My wife and I were so exhausted we rolled in and rolled out, did not even go eat lunch out as we were so tired.

So as I sit here sipping my coffee, I can report that although I still hate renting, I think it is the moving that I really hate. And the noisy dogs next door, and neighbors, and loud cars that rev their pipes as they leave for work at 6AM.

Here is to peace and quiet! My wife is so happy she is already looking at maybe buying this place as a permanent home.

Oh and the internet? Yeah the previous tenant still hasn't turned it off. So I can't get the new company to turn it on as the old tenant hasn't turned it off. We might have internet by the end of the week, fingers crossed... if not I guess I will just have to make coffee runs every mid morning and check in in TDPRI.
 

Flyboy

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At one time, 3% was a good loan. At one time, 11 or 12 % was a good loan. At one time 2.5% was a good loan. Who knows what the future holds in store?
The only people that ever, ever, got 3% loans in the UK were bank/building society employees. Never heard of that in UK.

We're up **** creek here. A gas an electricity-generating state that has hiked its prices higher than Europe. Plus, iur inflation is going to hit 13% soon. When that hits the mortgages, it's going to be like 1990 all over again. But the utility hikes are going to kill SMEs and make the already poor destitute.

Capitalism is DEAD!
 

getbent

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sounds like murphy's law was enforced on some parts of the move! It already sounds like a better place though. we had a move once that was paid by my company... man, what an experience. we were told only to clean out the fridge (which we did) at the old place, they packed and at the new place, they UNPACKED. It was crazy, they had polaroids, and pretty much put everything back in place... the trash can HAD the trash from our old place. It was unreal, like a dozen people moving like crazy...

Glad you are in... glad it is quiet!
 

mad dog

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home ownership by the masses is only like 100 years old... it is a made up thing.
I'm less than 100 years old. My house has quadrupled in value. Not sure what "made up" means to you. Given my experience and what I've seen around me since childhood, seems like home ownership is an actual thing now ...
 

OmegaWoods

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I’ve owned more real estate than most people and have been a landlord since I was 25. I have been a landlord and renter simultaneously for at least five of those 30 years. I hate being a landlord and I hate being a renter. I want to own one house that I love and own outright. I'm projecting that may happen within the next five years but I'm not counting on it.

This inflation stuff makes it tough on everyone on all sides of the renter/landlord/owner triad. Costs go up and they are unevenly distributed down to the renters who are just trying to live their lives. I wish everyone the best in their difficult housing situations.

I'm honestly just glad not to be living under a bridge.
 

Toto'sDad

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I’ve owned more real estate than most people and have been a landlord since I was 25. I have been a landlord and renter simultaneously for at least five of those 30 years. I hate being a landlord and I hate being a renter. I want to own one house that I love and own outright. I'm projecting that may happen within the next five years but I'm not counting on it.

This inflation stuff makes it tough on everyone on all sides of the renter/landlord/owner triad. Costs go up and they are unevenly distributed down to the renters who are just trying to live their lives. I wish everyone the best in their difficult housing situations.

I'm honestly just glad not to be living under a bridge.
All of my kids were/are homeowners, my youngest son has built a resume of properties that will insure his being able to retire no matter what happens to his Retirment benefits, social security, or even his IRAs. He has been a practical man since he was in kindergarten, he's never trusted anyone other than his own family to provide anything for him.
 

David Barnett

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They are. I keep saying this to my wife, only time will tell if I'm right;

I think in the not-so-distant future there will be a push, a narrative, to normalize grown adult couples living with roommates. Like, couple A who has two kids shares a house with couple B who has 1 or 2 kids.

Maybe communes or kibbutzes could make a comeback?
 

buster poser

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Glad this thread came back up. I saw a newsbite recently that puts lie to a lot of claims ITT about the relative sameness of the market today and in yesteryear. Via the Atlantic:

"Last year, more than 5 percent of all houses sold in the United States were flips. The same has been true since 2017. Meanwhile, a quarter of all single-family-home sales went to landlords, aspiring Airbnb tycoons, and other types of investors in 2021. All told, nearly a third of American house sales last year went to people who had no intention of living in them. These trends show no signs of reversal: In the first quarter of 2022, as housing prices soared across the country and many hopeful owner-occupiers struggled to get their offers accepted, the flip rate was nearly 10 percent."
 

getbent

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Glad this thread came back up. I saw a newsbite recently that puts lie to a lot of claims ITT about the relative sameness of the market today and in yesteryear. Via the Atlantic:

"Last year, more than 5 percent of all houses sold in the United States were flips. The same has been true since 2017. Meanwhile, a quarter of all single-family-home sales went to landlords, aspiring Airbnb tycoons, and other types of investors in 2021. All told, nearly a third of American house sales last year went to people who had no intention of living in them. These trends show no signs of reversal: In the first quarter of 2022, as housing prices soared across the country and many hopeful owner-occupiers struggled to get their offers accepted, the flip rate was nearly 10 percent."
who do the flippers flip to?
 




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