Why I Sold my House & CHOOSE TO RENT! The Math Shocked Us

Comments · 370

• DE

  @deebenj · 8 months ago (edited)

  noisy neighbors in an apartment are one thing, but noisy/disruptive neighbors in a house are another when you are locked in and need to be there for at least 5 years 😅

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• CY

  @cydnoble5348 · 11 months ago

  Right now, both renting and purchasing are expensive. If you can save money, do it.

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• ED

  @ed5308 · 11 months ago

  There are always  tradeoffs.  People have the idea that owning a home is an investment that will go up at 5% per year at least.  My own experience is I bought a home for 290K in 2002 then came 2008 and it actually  went down in value to 235K so I was upside down in value.  I rode it out because I wanted a stable place to live.  Now its worth around 525K so someone might say I made 235K but you forgot about maintenance.  I have put in new bathrooms, new roof, new A/C, new front yard with sprinkler systems, repainted outside and inside of house, new shutters in all rooms, and rebuilt entire back deck.  This came out to about 115K so I made 120K correct? Wrong.  I also paid 4K a year in property taxes for a total of 80K which means I am ahead 40K correct?  Wrong You still have mortgage and fire insurance to pay. There goes my 40K profit.  Do I own an asset I could sell yes but I have been paying it off for the last 23 years and I am breaking even which I guess is better than renting and not having to be worried about being asked to move or have your rent increased every year.  You decide what works best for you.  Good luck.

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• DI

  @dianaaugustine5438 · 11 months ago

  I love owning because I am a highly creative person and being able to customize my space and work on my own little private garden means so much to me. I also couldn’t stand dealing with sharing walls neighbors. Lastly, I like knowing my kids have a stable place to call home. <br><br>That being said, the insurance costs for us tripled in that same 5 years. When we tried to switch insurances, we had to get a new roof and new electrical panel to even get quotes. It was such a headache. So I can definitely understand where the speaker is coming from.<br><br>When I lived in an apartment I felt cramped, depressed, and unheard by my landlord. Now I have space, privacy, and the ability to take action for myself even if it costs a bit more and comes with more responsibility. To me, it’s a price worth paying.

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• KE

  @kellyjacobs4114 · 11 months ago

  I seem to remember a phrase “ You will own nothing and be happy.” &nbsp;Seems like the “ they” are making sustainability harder and harder.

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• JU

  @judithscharf4873 · 11 months ago

  Suze Orman did a segment on this years ago. &nbsp;She said for some people, investing wisely can be much more lucrative than buying a home.<br><br>She also mentioned that the homeowner lifestyle is not for everyone.

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• CO

  @coralinejonez · 11 months ago

  Thank you for covering this topic! We really need to deconstruct the idea that “owning” a home is the best thing for everyone. I’m also childfree and moved to the Pacific Northwest with my partner because we love the outdoors but houses are averaging 600k in our city so we rent. It gives us access to a beautiful area for the lifestyle we want without going broke 😁

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• SB

  @sbvstyle · 11 months ago (edited)

  I am 49 my house is almost paid off. I bought in 2007, mortgage was never over $1200. It is now $916 with taxes last payment will be in May 2026. With utilities and taxes it will average to about $500/month. I am renting it for $2,500. I think I did well. I plan to retire in this home. It’s a 2 bedroom. The house is in a city 45 mins from Boston MA.

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• LI

  @LisaDuncan8 · 11 months ago

  My home is paid off. I bought it as a foreclosure from a bank. I flipped it and moved into it (4 years now) because my lifetime goal has been to be mortgage free going into retirement. However, I have to admit in order to achieve THIS GOAL i took the (rent to own approach) meaning (I rented an apartment for years in order to SAVE as much money as i could to purchase a home cash.) Deed in hand. All the interest, monthly insurance, maintenance, and yearly taxes I would have paid went into my savings account. Because of this, I became a habitual saver... I absolutely LOVE saving money. I haven&apos;t paid rent/mortgage to a bank in 4 years. But what i did do is pay rent/mortgage $1,500 &amp; more each and every month to myself for 4 years and continuing. I hate being in debt. The Bible says owe no man, nothing, but to love him is a principle I live buy. Thru that 4 years savings alone, i can actually purchase another house to flip if i want to.

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• DA

  @DanaW316 · 11 months ago

  This is one of the best episodes you have ever done. I was so engaged because my husband and I also choose to rent for all the reasons Jill listed!! I really appreciate you using real numbers!! Hopefully Ramit Sethi sees this!!!

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• BA

  @barbarabrockman2554 · 11 months ago

  Landlords aren’t charity givers. &nbsp;They have mortgages (usually), taxes, insurance, upkeep costs, etc. &nbsp;They will always price the rent to cover all of their expenses. &nbsp;You pay somewhere, you just choose who and when you pay. &nbsp;With insurance you are paying to transfer risk. &nbsp;With renting you are paying to transfer some headaches (maintenance, dealing with taxes, etc.) to the landlord. &nbsp;You may gain the ability to live somewhere you couldn’t afford to buy but may lose some privacy, a yard, the ability to update and renovate your home to your personal taste, etc. &nbsp;There are so many factors and everyone needs to evaluate their own situation, needs and desires

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• EL

  @elizabethhamilton1166 · 4 months ago (edited)

  I enjoyed your video. I also bought my home in 2020 and have loved it. I&apos;m a single homeowner and all the maintenance is on me in time, money, and effort. I am also planning to sell and go back to renting. So it&apos;s like talking to friends listening to you two talk about this. For me, it will be much more cost effective to rent. I haven&apos;t traveled for 6 years. I look forward to traveling again!🙃 Thank you for your video!

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