Domain: tiger-web1.srvr.media3.us RENTING =/= THROWING MONEY AWAY! | Page 2 | Money Talk
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re: RENTING =/= THROWING MONEY AWAY!

Posted on 2/2/09 at 3:21 pm to
Posted by Cold Cous Cous
Bucktown, La.
Member since Oct 2003
15347 posts
Posted on 2/2/09 at 3:21 pm to
quote:

Agreed. The fiancee will not live anywhere outside of about a 7 parish area...
7 parishes? frick, I don't even like going to the West Bank.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 2/2/09 at 3:24 pm to
quote:

7 parishes? frick, I don't even like going to the West Bank.




Here's the list in order:

- St. Tammany
- East Baton Rouge
- Ascension
- Jefferson
- Tangapoha
- West Feliciana
- Orleans (uptown, on St. Charles only)

I could also probably convince her into WBR, Iberville, or Pointe Coupee.

This post was edited on 2/2/09 at 3:25 pm
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 2/2/09 at 3:33 pm to
If you had to sit through an hr and 15min of BLAW2 at 8 AM taught by a guy who looks like he literally has a stick in his arse (and teaches like that as well), you would get a little ancy too. Dude is just ridiculously uptight.
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 2/2/09 at 3:41 pm to
quote:


My BLAW teacher uses this phrase incessantly, and it drives me crazy. JUST SAY WHAT YOU'RE GOING TO SAY, frick.


I would submit "frick you".
Posted by Cold Cous Cous
Bucktown, La.
Member since Oct 2003
15347 posts
Posted on 2/2/09 at 3:45 pm to
I would go with

- Jefferson (preferably east of Causeway, definitely east of David)
- Orleans (Garden District only, thx)

Of course, it's kind of irrelevant as I have no say in this matter
Posted by Y.A. Tittle
Member since Sep 2003
110231 posts
Posted on 2/2/09 at 3:46 pm to
quote:

- Orleans (uptown, on St. Charles only)



Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 2/2/09 at 3:46 pm to
quote:

Of course, it's kind of irrelevant as I have no say in this matter


My #1 pick is EBR and then Orleans (garden district)

After that, they are all pretty moot.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 2/2/09 at 3:49 pm to
quote:




Bascially she wouldn't live in New Orleans. Too much of a risk, so she says.

I then said, so you would pass up living in a 3/4MM home on St. Charles if the opportunity presented itself.

Basically the only clause for orleans in our verbal contract...
Posted by ProudLSUMom
Missouri
Member since Sep 2007
3332 posts
Posted on 2/2/09 at 3:49 pm to
I understand how renting is better for some people but I don't think it is better for my husband and I.

Correct me if I'm wrong. We pay less than $1300 a month for this house. If we were to rent it, it would be around $2500-2700 a month.

We owe around $95,000 on this house which is worth around $350,000.

Please tell me how I would be better off renting.
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 2/2/09 at 3:50 pm to
Lakeview is as safe a neighborhood as you can get, for whatever that is worth.
Posted by Cold Cous Cous
Bucktown, La.
Member since Oct 2003
15347 posts
Posted on 2/2/09 at 3:52 pm to
quote:

Correct me if I'm wrong. We pay less than $1300 a month for this house. If we were to rent it, it would be around $2500-2700 a month.


Right but I'm assuming you bought the house eons ago. It's not an apples to apples comparison.
Posted by Cold Cous Cous
Bucktown, La.
Member since Oct 2003
15347 posts
Posted on 2/2/09 at 3:52 pm to
quote:

Lakeview is as safe a neighborhood as you can get, for whatever that is worth.

True. I basically consider Lakeview part of JP.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 2/2/09 at 3:52 pm to
quote:

Lakeview is as safe a neighborhood as you can get, for whatever that is worth.


Safe as in from crime and flooding. She holds some value in "losing everything". Which I can understand.

I explained that this is what insurance is for, but that discussion didn't go over too well...
This post was edited on 2/2/09 at 3:53 pm
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 2/2/09 at 3:52 pm to
quote:

I understand how renting is better for some people but I don't think it is better for my husband and I.

Correct me if I'm wrong. We pay less than $1300 a month for this house. If we were to rent it, it would be around $2500-2700 a month.

We owe around $95,000 on this house which is worth around $350,000.

Please tell me how I would be better off renting.


There could easily be an argument made that you should sell now, thus releasing all of that equity to you.

In any event, you should realize that new buyers are not faced with the tradeoff you are talking about here.

Also, what are you doing to make a $95K loan on the house have you pay 1300/month?
Posted by ProudLSUMom
Missouri
Member since Sep 2007
3332 posts
Posted on 2/2/09 at 3:55 pm to
quote:

Also, what are you doing to make a $95K loan on the house have you pay 1300/month?


I'm not sure what you are asking here?

It is a 15 year mortgage...we started at $100,000 a little over 2 years ago.
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 2/2/09 at 4:05 pm to
quote:

Safe as in from crime and flooding.



Yes, safe as in from crime in flooding. Lakeview is easily the safest neighborhood in Orleans parish. As far as flooding, well, if you go drive through there, you'll notice pretty much every new construction is no less than 6 feet off the ground (some get insane and they look like fishing camps).
This post was edited on 2/2/09 at 4:09 pm
Posted by Zach
Gizmonic Institute
Member since May 2005
117082 posts
Posted on 2/2/09 at 4:08 pm to
I'm in the "owning vs. renting" group. However, my life experience is older than you folks and I would be more mobile (renting) if I were younger.

I was tied to this area by family connections. So, renting was stupid. I bought homes that I deemed under valued with a big down payment and low rate of mortgage. Then I sold them at a big profit and plowed that into the next home at another big down payment with a small loan at low rates.

I now live in my last home...on the lake. With my wife and dogs. It's paid for and I could sell it for a million dollars but then I would have no place to live.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 2/2/09 at 4:12 pm to
quote:

Yes, safe as in from crime in flooding. Lakeview is easily the safest neighborhood in Orleans parish. As far as flooding, well, if you go drive through there, you'll notice pretty much every new construction is no less than 6 feet off the ground (some get insane and they look like fishing camps).


Trust me, I realize this.
Posted by Ziggy
Member since Oct 2007
22068 posts
Posted on 2/2/09 at 4:14 pm to
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 2/2/09 at 4:29 pm to
quote:

It is a 15 year mortgage.


Got it.
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