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SVTPerformance's Chain of Restaurants
Road Side Pub
Renting vs owning a home and vehicles.
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<blockquote data-quote="Screw-Rice" data-source="post: 15694893" data-attributes="member: 31264"><p>Without digging too deep into your reply (because I'm feeling lazy), just a few things.</p><p></p><p>Paying the interest upfront is standard on everything. This is why so many people are upside down on their vehicles. They buy it at say $40k, but 3 years later they owe $34k on something valued at $28k. Difference with a house, you typically put a good amount down, and very rarely do they go down in value. Even worse case and you're at a break even, that is far better than being upside down like you would a vehicle. You also have leverage with a house that isn't even an option with a vehicle. </p><p></p><p>Reverse mortgages aren't super common either if someone has been responsible with their money. So assuming that as the norm isn't really accurate. Same goes for someone renting their house, that is very situation dependent on how much the may profit (if at all). Where I live you can easily pull an extra few hundred after all expenses when rented out. Same goes for many areas, not so much for others, so have to evaluate on a case by case. </p><p></p><p></p><p></p><p>Then I'll be the first to welcome you with open arms.</p><p></p><p></p><p>Depending on what you would sell it for, and how much rent, I would entertain it <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite2" alt=";)" title="Wink ;)" loading="lazy" data-shortname=";)" />.</p><p></p><p></p><p></p><p>I actually expected him to pop in here and go off on you, since he's seemed pissy lately, lol. </p><p></p><p>Everyone's situation is different, which is why umbrella statements can be an issue. Plenty younger guys here that don't know any better see someone with new toys and advocating renting could put themselves in a bad situation. Lets face it, plenty of people aren't very bright, and figure they can mirror others without knowing all the info.</p></blockquote><p></p>
[QUOTE="Screw-Rice, post: 15694893, member: 31264"] Without digging too deep into your reply (because I'm feeling lazy), just a few things. Paying the interest upfront is standard on everything. This is why so many people are upside down on their vehicles. They buy it at say $40k, but 3 years later they owe $34k on something valued at $28k. Difference with a house, you typically put a good amount down, and very rarely do they go down in value. Even worse case and you're at a break even, that is far better than being upside down like you would a vehicle. You also have leverage with a house that isn't even an option with a vehicle. Reverse mortgages aren't super common either if someone has been responsible with their money. So assuming that as the norm isn't really accurate. Same goes for someone renting their house, that is very situation dependent on how much the may profit (if at all). Where I live you can easily pull an extra few hundred after all expenses when rented out. Same goes for many areas, not so much for others, so have to evaluate on a case by case. Then I'll be the first to welcome you with open arms. Depending on what you would sell it for, and how much rent, I would entertain it ;). I actually expected him to pop in here and go off on you, since he's seemed pissy lately, lol. Everyone's situation is different, which is why umbrella statements can be an issue. Plenty younger guys here that don't know any better see someone with new toys and advocating renting could put themselves in a bad situation. Lets face it, plenty of people aren't very bright, and figure they can mirror others without knowing all the info. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Renting vs owning a home and vehicles.
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