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2
Posted on 2/2/09 at 4:39 pm to kfizzle85
quote:
you'll notice pretty much every new construction is no less than 6 feet off the ground
way way waa overkill if you ask me. i have no fears of lakeview flooding anytime in the next 50 years
Posted on 2/2/09 at 4:47 pm to CE Tiger
I understand both sides of the coin. Considering the marginal cost difference to raise the house though, it seems worthwhile. Do I think LV will flood in the next 50 years? 100%, just not necessarily from a levee breach.
Posted on 2/2/09 at 4:48 pm to LSURussian
quote:In most cases, and in the long term, it is. But those people who caterogically say "If you rent you're just throwing your money away" are dead wrong. You have to live somewhere. And in most cases you can live 'somewhere', be it an apartment or townhouse, for less than you can buy. You couldn't pay me $500 to be homeless next month. I would gladly "throw away" $500 renting a small apartment so I could have a place to sleep, take a shower, and go to the bathroom.
Owning is better.
I agree with the subject of this thread - don't be "guilted" into buying a house with the rhetoric that "renting = throwing your money away".
Posted on 2/2/09 at 6:18 pm to Lou
quote:
You couldn't pay me $500 to be homeless next month. I would gladly "throw away" $500 renting a small apartment so I could have a place to sleep, take a shower, and go to the bathroom.
Interesting way to put it, Lou.
Posted on 2/2/09 at 7:03 pm to LSURussian
quote:
I've rented and I've owned.
Owning is better.
Same for my husband and I.
I am willing to own my home so that I can choose my paint colors, landscape to my preferences, have repairs done in a timely manner and to not worry about a landlord possibly going through foreclosure on a house I'm living in.
When we were renting, it felt like we were living in a house and not a "home".
These things are important to me, so buying vs. renting is not just a financial transaction.
This post was edited on 2/2/09 at 7:04 pm
Posted on 2/2/09 at 7:19 pm to ProudLSUMom
quote:
I am willing to own my home so that I can choose my paint colors, landscape to my preferences
You can do all of that in a rental. What's the worst case - you lose your damage deposit?
quote:
have repairs done in a timely manner
You call a repairman and they do it. I mean, I know what you are saying, just that I think your side of it is often vastly overstated.
quote:
to not worry about a landlord possibly going through foreclosure on a house I'm living in.
That's a reasonable concern, but then you have to look at the specific numbers.
quote:
These things are important to me, so buying vs. renting is not just a financial transaction.
Right, but certainly price is relevant, correct?
Posted on 2/2/09 at 9:25 pm to Cold Cous Cous
quote:
People don't seem to understand that paying mortgage interest is just as much "throwing money away" as renting.
This is true. On the other hand, getting your AGI down can help in other ways as well. For example, my county has a $600 benefit for people who have an AGI under $70000 (the county average is around $90K, DC metro is expensive). A single-family home easily costs $600K (at least), you can make well into six figures and still qualify for a $600 freebie for not making enough money!
Posted on 2/2/09 at 10:08 pm to kfizzle85
quote:
Lakeview is as safe a neighborhood as you can get, for whatever that is worth.
Really not THAT safe. Check out the NOPD crime map. Other than Spanish Fort/bird streets, I would not feel too comfortable living anywhere else in Lakeview. The crime is obviously not even comparable to anywhere else in Orleans, but its still present. Also, the safest neighborhoods in Orleans are probably Country Club Gardens or Lakeview South.
Posted on 2/2/09 at 11:16 pm to Southbound
I wouldn't debate that at all, I know several people who live in CCG. It's part of LV so I'm not really sure what you're disagreeing with. As far as it being "not THAT safe," I can say from an anecdotal standpoint that in 24 years of growing up there, I can't think of a single instance where someone I know has had their house broken into, or has been robbed while walking around, or anything that might constitute a level of unsafeness.
Posted on 2/2/09 at 11:28 pm to Colonel Hapablap
quote:
also, everyone always forgets about the dirty little maintenance cost to owning a house. If your A/C goes out, you get to fix it. If you have a roof leak that destroys a wall, you get to fix it. If a pipe bursts, you get to fix it. If you get termites, you get to fix it. The list goes on, and most of that shite is not covered by insurance.
boom CH. People tend to forget those things and I have always kept 7-8 months worth of income in a money market account. I thinking renting right now is actually not a bad thing especially if its a moderate place. I advise my clients to not go and rent something over $1,100 when you can find a decent place for $800-900 a month.
Posted on 2/3/09 at 9:49 am to Meauxjeaux
quote:Agree. Actually, it's on a case by case basis. But, long term, buy. It's much cheaper.
I'm of the mind that renting does = throwing money away... except for some cases.
If you know you are going to be in the same area long term, buy a house and pay it off.
No payment for monthly living = SECURITY. Way more security than renting.
Let me add, that another benefit of ownership is that eventually payments stop. Rent never stops. Plus, the payment gets cheaper each year, in relation to your incomme. Rent increases with time. Buy, pay the note for two or three years, and you can't fine a rental that's cheaper. You guys are dead wrong about renting. That's for people who can't afford to buy.
This post was edited on 2/3/09 at 10:03 am
Posted on 2/3/09 at 10:04 am to Southbound
quote:
Also, the safest neighborhoods in Orleans are probably Country Club Gardens or Lakeview South.
English Turn?
Posted on 2/3/09 at 10:27 am to Herb
quote:
But, long term, buy. It's much cheaper.
Again, you guys keep acting as if price is totally irrelevant. And it's not. It's what matters most. If you pay $500K for a place that ends up being worth $250K when you pay it off, THAT WAS NOT "CHEAPER".
quote:
Plus, the payment gets cheaper each year, in relation to your incomme.
Big assumption that you hope is true.
quote:
Rent increases with time
Certainly not inherently true. And rents are plunging as we speak.
quote:
You guys are dead wrong about renting. That's for people who can't afford to buy.
Posted on 2/3/09 at 10:34 am to Tiger JJ
quote:
Certainly not inherently true. And rents are plunging as we speak.
There was a story on Today this morning on this very subject. They talked about rent vs. buying and discussed rent projections for 2009. They quoted some study that said rental rates will go down this year and they rattled off a ton of incentives in the market place right now. Everything from flexible leases to free rent to comping amenities they usually charge extra for.
Posted on 2/3/09 at 10:37 am to Herb
quote:
Let me add, that another benefit of ownership is that eventually payments stop. Rent never stops. Plus, the payment gets cheaper each year, in relation to your incomme. Rent increases with time.
Your local property tax assessor would like a word with you. I've spoken with elderly folks aroound my area who live in homes completely paid off who talk about how their property tax bills are more than their mortgage payment was when they owed on the house.
Posted on 2/3/09 at 10:40 am to Martavius
well in my area my property tax doesn't equal even half of one mortgage payment.
Posted on 2/3/09 at 10:43 am to LSU1018
I suggest you turn off your computer for a while and go get some fresh air.
Posted on 2/3/09 at 11:16 am to Martavius
quote:If you live in Texas that may be true. I'm talking about the rest of the nation. Specifically, In Louisiana that is not true, unless they're talking about their tax equaling one payment. Also true if they're very old. But, the point is not valid.
Your local property tax assessor would like a word with you. I've spoken with elderly folks aroound my area who live in homes completely paid off who talk about how their property tax bills are more than their mortgage payment was when they owed on the house.
Posted on 2/3/09 at 11:20 am to Herb
quote:
If you live in Texas that may be true. I'm talking about the rest of the nation. Specifically, In Louisiana that is not true, unless they're talking about their tax equaling one payment. Also true if they're very old. But, the point is not valid.
So it's true but not valid....got it.
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