Author Topic: Toy Runs affected by Gas Prices?  (Read 3838 times)

Offline Rob

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Re: Toy Runs affected by Gas Prices?
« Reply #45 on: September 8, 2005, 10:42 AM »
Even if you may have to move, there is almost always great financial incentive to buy a house vs. renting someplace.  Every time you send in a rent check, you've pissed it down the drain - every time I pay my mortgage, it's like putting a bunch of money into savings.  When I sell, I get an awful lot of it back.

Meanwhile, property values (If you pick your spot carefully) almost always go up.

They are currently building a very large restaraunt/retail/loft/movie theater type complex across the street from my loft.  I expect to make roughly a $75,000-$80,000 profit on my place after 3 years total of living in it.

While Phruby is off base suggesting that you will always be poor if you buy multiples of plastic men (I've got thousands and am doing just freaking fine), he was absolutely correct in asserting that you're better off buying a place than renting - even if you end up selling it in a year or two.
« Last Edit: September 8, 2005, 02:55 PM by Kneel Before Zod »

Offline Jon

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Re: Toy Runs affected by Gas Prices?
« Reply #46 on: September 8, 2005, 01:32 PM »
well, he wasn't talking to me either since I don't rent OR own-(my housing is free) ::)

Offline Gatillo

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Re: Toy Runs affected by Gas Prices?
« Reply #47 on: September 8, 2005, 03:08 PM »
I get gassy talking about gas prices. :P
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Offline TheBlackDog65

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Re: Toy Runs affected by Gas Prices?
« Reply #48 on: September 8, 2005, 09:18 PM »
Actually, I have always been told that if you sell a house under 4 or 5 years, the amount of ROI is not enough to equal the loss to interest and down payment, and closing costs etc.  Guess I need to research that myself and see if that is true. Having said that, I will say that buying anytime is better then renting because if your in the right location, equity will go up.
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