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Investing/Strategies / Retirement Investing
|Subject: Re: Rent vs Buy||Date: 1/29/2004 11:50 AM|
|Author: JAFO31||Number: 38823 of 74485|
>>I am getting a little sick and tired of the genetically loutish behaviour of almost everybody else who rents!<<
"Yes, people talk about renting vs owning like it was purely a financial decision. What they don't say is condos afford, in general, a far higher quality of life than apartments."
"Apartments are designed to be as cheap to build/maintain as possible, so you get thin walls, cheap (or no) appliances, bad finishings, etc."
"You also tend to live with shiftless, "renter types"."
"Condos are designed to sell for the highest possible price. So you get quality construction, plenty of light, nice fixtures, etc."
Condos are designed for the developer to make the most money, especially as ROI. It does not necessarily arise from building the most expensive condos.
"And you'll get higher quality neighbors."
"On the other hand, I did get a $55,000 bill last year for mold remediation/fixing water leaks in my San Francisco condo, so ownership isn't perfect either!"
One could pay alot of rent with 55k.
And with condos you run the risk that too many will turn into rental units, so you will again be living next to those "shiftless, renter types" and you may find it more difficult to sell to an interested owner-occupant because such interested party can no longer gett he best financing if more than 30% (IIRC) of the units are not owner-occupied.
I agree that condos have their own paricular issues, but they are not SFH, and they are not necessarily better than renting (especially because one can rent a condo or SFH, too).
(posted before reading entire thread)
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