| Posted By |
Message |
jj8182
LIF Adolescent
Member since 9/10 594 total posts
Name:
J
|
Owning to renting
Has anyone gome from owning a home to renting? DH and I are considering this. Wondering if there are any BTDT?
|
Posted 11/10/14 10:00 AM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
Name:
|
Re: Owning to renting
My husband did this but that's b/c he owned when he was single and sold it when we got married. We rented for a few years before we bought again.
For him, the hardest part was adjusting to paying every month for something you have no equity in. But if your financial situation calls for it, or if you're not sure about a new area, I think it totally makes sense. I think it really depends on your situation.
|
| Posted 11/10/14 12:12 PM |
| |
|
ISpoilHim
I think I got this
Member since 11/10 1523 total posts
Name:
K
|
Owning to renting
I went from renting to owning. But I would go back to renting in a heartbeat. For us, it is not worth the aggravation and trouble.
|
| Posted 11/10/14 1:40 PM |
| |
|
blu6385
Member since 5/08 8351 total posts
Name:
|
Re: Owning to renting
I went from renting to owning and I don't think I ever will willing go back to renting but my mortgage is also not that high. we bought a house that wasn't to expensive (just stressing this cause we didn't have a lot at all to put down) and my mortgage with taxes is close to what I was paying in rent.
when we rented we would rent full houses and had to pay rent plus ALL the utilities our last house we rented was a 2 bedroom house and when I went looking for bigger houses to rent the prices were close to what my mortgage would be with taxes if not more so to me it was such a waste of money to pay someone else's house when I could own one.
|
| Posted 11/10/14 2:52 PM |
| |
|
ISpoilHim
I think I got this
Member since 11/10 1523 total posts
Name:
K
|
Re: Owning to renting
Posted by blu6385
I went from renting to owning and I don't think I ever will willing go back to renting but my mortgage is also not that high. we bought a house that wasn't to expensive (just stressing this cause we didn't have a lot at all to put down) and my mortgage with taxes is close to what I was paying in rent.
when we rented we would rent full houses and had to pay rent plus ALL the utilities our last house we rented was a 2 bedroom house and when I went looking for bigger houses to rent the prices were close to what my mortgage would be with taxes if not more so to me it was such a waste of money to pay someone else's house when I could own one.
For us it has nothing to do with money. Our mortgage is actually less than we paid in rent. It's the hassle of homeownership. We would rather rent in a complex where all the problems are taken care of for us.
I also don't believe renting is a waste of money. Even if you own your house outright you still pay rent in the form of taxes. No matter where you live it costs something. Yes you can build equity in a home, but you could just as easily build a liquid savings and have access to that money when you need it and not have to wait for the sale of a home or a refinance. Bit I know I am in the minority on this issue.
Message edited 11/10/2014 4:52:36 PM.
|
| Posted 11/10/14 4:48 PM |
| |
|
Dani
Life is about choices.
Member since 5/05 6532 total posts
Name:
Dani
|
Re: Owning to renting
Posted by ISpoilHim
Posted by blu6385
I went from renting to owning and I don't think I ever will willing go back to renting but my mortgage is also not that high. we bought a house that wasn't to expensive (just stressing this cause we didn't have a lot at all to put down) and my mortgage with taxes is close to what I was paying in rent.
when we rented we would rent full houses and had to pay rent plus ALL the utilities our last house we rented was a 2 bedroom house and when I went looking for bigger houses to rent the prices were close to what my mortgage would be with taxes if not more so to me it was such a waste of money to pay someone else's house when I could own one.
For us it has nothing to do with money. Our mortgage is actually less than we paid in rent. It's the hassle of homeownership. We would rather rent in a complex where all the problems are taken care of for us.
I also don't believe renting is a waste of money. Even if you own your house outright you still pay rent in the form of taxes. No matter where you live it costs something. Yes you can build equity in a home, but you could just as easily build a liquid savings and have access to that money when you need it and not have to wait for the sale of a home or a refinance. Bit I know I am in the minority on this issue.
i own now, but i do agree with you. it's what works for you. i never regret renting..i loved it and it worked for me. and as you said, i was saving money. i also understand what you mean about the hassles.
all in all, you sound like you want to rent, so dont woory what we all say, do what makes you happy! 
|
| Posted 11/10/14 7:29 PM |
| |
|
Hemicat
LIF Toddler
Member since 7/11 408 total posts
Name:
Dana
|
Re: Owning to renting
We own and are selling to rent. I don't want the hassle of owning anymore. It was challenging to find an apartment that I liked and I knew I didn't want to be in a big building again where I could smell my neighbors dinner cooking. We signed our lease this past Sunday and should be closing soon!
Its hard condensing the house but we are selling a lot. I am really looking forward to it. PM me in about 2 weeks and I will let you know how we adjust 
|
| Posted 11/12/14 8:16 PM |
| |
|
jj8182
LIF Adolescent
Member since 9/10 594 total posts
Name:
J
|
Re: Owning to renting
Thank you to everyone for your answers. It's not necessarily about affordability.... I think I just like the convenience of not being 100% responsible for everything. I actually grew up in a house, so I do know all the benefits, but I just don't think it's worth it to me. I was just wondering if anyone has actually done this and had any negatives/positives. Thank you!
|
| Posted 11/13/14 1:58 PM |
| |
|
jj8182
LIF Adolescent
Member since 9/10 594 total posts
Name:
J
|
Re: Owning to renting
Posted by Hemicat
We own and are selling to rent. I don't want the hassle of owning anymore. It was challenging to find an apartment that I liked and I knew I didn't want to be in a big building again where I could smell my neighbors dinner cooking. We signed our lease this past Sunday and should be closing soon!
Its hard condensing the house but we are selling a lot. I am really looking forward to it. PM me in about 2 weeks and I will let you know how we adjust
Definitely!
|
| Posted 11/13/14 1:59 PM |
| |
|
jj8182
LIF Adolescent
Member since 9/10 594 total posts
Name:
J
|
Re: Owning to renting
Posted by ISpoilHim
Posted by blu6385
I went from renting to owning and I don't think I ever will willing go back to renting but my mortgage is also not that high. we bought a house that wasn't to expensive (just stressing this cause we didn't have a lot at all to put down) and my mortgage with taxes is close to what I was paying in rent.
when we rented we would rent full houses and had to pay rent plus ALL the utilities our last house we rented was a 2 bedroom house and when I went looking for bigger houses to rent the prices were close to what my mortgage would be with taxes if not more so to me it was such a waste of money to pay someone else's house when I could own one.
For us it has nothing to do with money. Our mortgage is actually less than we paid in rent. It's the hassle of homeownership. We would rather rent in a complex where all the problems are taken care of for us.
I also don't believe renting is a waste of money. Even if you own your house outright you still pay rent in the form of taxes. No matter where you live it costs something. Yes you can build equity in a home, but you could just as easily build a liquid savings and have access to that money when you need it and not have to wait for the sale of a home or a refinance. Bit I know I am in the minority on this issue.
I think I'm in this minority as well. Plus, DH and I are not handy by any means, so we'll need a handyman on speed dial! I also understand about building equity and all... but it still doesn't appeal to me lol. We're still thinking about it, though, but I know we're leaning towards renting.
|
| Posted 11/13/14 2:15 PM |
| |
|
justbeachy
So close....
Member since 7/07 2900 total posts
Name:
|
Re: Owning to renting
I ABSOLUTELY see the value in renting. I loved it. Being able to dial someone up and have them fix things for me was GREAT.
I say go for it! I too, do not see it as throwing away money - although I always thought that BEFORE I bought our house. Now, I TOTALLLLLLLLLLLY disagree. We had money for vacations and more frivolous things when we renting. Not so much anymore.
|
| Posted 11/13/14 8:40 PM |
| |
|
KarenK122
The Journey is the Destination
Member since 5/05 4431 total posts
Name:
Karen
|
Owning to renting
I rented, owned, rented and now own again and I could never got back to renting ever again. Our rent in our preferred area was the same amount of money as our mortgage. While we had someone to call to fix things and to mow/remove snow it was never done the way I liked it. Everything always felt temporary to me. I couldn't fix the apartment the way I liked, I couldn't decorate as I liked. There was no real sense of neighborhood since people were constantly moving in and out. I think that it really depends on though where you are living. I might have a different view if I lived in Queens or the City.
|
| Posted 11/13/14 10:13 PM |
| |
|
shadows
LIF Adult
Member since 1/10 4694 total posts
Name:
|
Re: Owning to renting
Posted by jj8182
Posted by Hemicat
We own and are selling to rent. I don't want the hassle of owning anymore. It was challenging to find an apartment that I liked and I knew I didn't want to be in a big building again where I could smell my neighbors dinner cooking. We signed our lease this past Sunday and should be closing soon!
Its hard condensing the house but we are selling a lot. I am really looking forward to it. PM me in about 2 weeks and I will let you know how we adjust
Definitely!
We went from owning to renting. Had no choice originally bc we were moving to a city out of state on very short notice.
2 years later... We say all the time that we will never buy a house again. For all the reasons you listed. It's not for us. We would MAYBE buy a condo or brownstone in
city but never a house with yard etc ever again.
It's not financial for us either. We don't have kids and prefer living in a city so it fits our lifestyle better. Plus (as we learned) being tied down by a house can really s uck. Bad. We don't want that. Our apartment building is obscenely expensive but you don't have to lift a finger to take care of anything. Huge gym rooftop pool etc. We are too spoiled to go back to taking care of a house now lol Different strokes for different folks
Message edited 11/14/2014 3:47:07 PM.
|
| Posted 11/14/14 3:34 PM |
| |
|
shadows
LIF Adult
Member since 1/10 4694 total posts
Name:
|
Re: Owning to renting
Posted by ISpoilHim
Posted by blu6385
I went from renting to owning and I don't think I ever will willing go back to renting but my mortgage is also not that high. we bought a house that wasn't to expensive (just stressing this cause we didn't have a lot at all to put down) and my mortgage with taxes is close to what I was paying in rent.
when we rented we would rent full houses and had to pay rent plus ALL the utilities our last house we rented was a 2 bedroom house and when I went looking for bigger houses to rent the prices were close to what my mortgage would be with taxes if not more so to me it was such a waste of money to pay someone else's house when I could own one.
For us it has nothing to do with money. Our mortgage is actually less than we paid in rent. It's the hassle of homeownership. We would rather rent in a complex where all the problems are taken care of for us.
I also don't believe renting is a waste of money. Even if you own your house outright you still pay rent in the form of taxes. No matter where you live it costs something. Yes you can build equity in a home, but you could just as easily build a liquid savings and have access to that money when you need it and not have to wait for the sale of a home or a refinance. Bit I know I am in the minority on this issue.
I agree and I've met more people lately who also feel this way. And in our case we lost money on our house.
|
| Posted 11/14/14 3:51 PM |
| |
|
