Can you tell, we’re getting a few tips as of late with all these links to sites you know your Editor rarely reads. But it’s good! It’s all good. We need to open our eyes and be edumacated from time to time, so we’ll pass that knowledge on to you.
Today we take you to the Zillow Wiki for their rationale behind renting or owning. We have been through this before and think we introduced many of you to the incredible data crunching goodness of Missionite, and his Submedian Calculator, but there are always more ways to skin a cat, so why not skin Zillow’s while we’re at it.
And since we’re on the subject, yet again, what do you think? Rent or Own…pros and cons.
–Owning vs. Renting a Home [Zillow Blog]
–Owning vs. Renting a Home [Zillow Wikipages]
–Rent vs. Own, the old debate in a new spreadsheet [theFrontSteps]
Hey Alexander: I do simply think that once it’s established that you have enough money to buy a home, it’s a matter of lifestyle and location. Maybe I was simplifying it too much, but that’s my takeaway. Suprisingly, there are many people who have the means, but they don’t want to be tied down. Could be the big C — commitment issues. Thanks for the mention on your blog. Also, love the big “Z” for Zephyr Real Estate.
We like the simplification of the dilemma! We thought it was a good post, which is why we linked to it.
I think in general, this question does not pertain to most people in SF. Very few people have the option to buy or rent, generally just the option to rent. Most people who have the option to buy, just buy because they don’t want to flush the money away, they have a big tax bill, and they know in the long run they’ll come out ahead. So, this question is a slap in the face to the 70%+ people in SF who rent.
I know one guy who started renting when he was 23, had a chance to buy at 28, and is now a 40 year old renter! To cope with spending $400,000 in after tax money on rent over the past 17 years, and missing out on the real estate explosion, he created a blog :) Renters are generally more pessimistic, less wealthy, less educated, and transient people with commitment issues. Anybody with 10 years of work experience and still renting is definiely behind the ball.
I feel sorry for people who were tricked into renting for the past 5 years while SF prices continue to go up.
Finally, the rental stock is ALWAYS inferior to the for sale stock. I feel bad for the people who in rent controlled apartments for the past 10 years. What an irony to miss out on so much, and yet live in the same place you did 10 years ago.
“I feel sorry for people who were tricked into renting for the past 5 years while SF prices continue to go up.”
Wow, thanks for that little bit of smuggery. You inspired an entire post on my blog. Enjoy your creation:
http://submedian.blogspot.com/2008/04/whats-diff-spring-2008.html
Always Buy: your advice is irresponsible to today’s buyer in SF who needs to be careful indeed before jumping in. There is no blanket assurance a home will be worth more when we want to sell it, especially if we can’t wait out the time required to appreciate a profit.