nikkas still paying rent over a mortgage is crazy in 2025

[tuckgod]

I can say as a homeowner this is a severe oversimplification. On top of a mortgage, you have to pay for upkeep, property taxes, I just had to come out about 6k for basement repairs and 10k for an updated water heating unit. The cost of a decent house in my area is around 600k. Everyone doesn't have it like that. If you have a roof over your head renting or owning it's a blessing

As a homeowner, the shyt this nikka is talking about is nothing when considering the rest of his money is going to a real asset that he can leave his children or do with as he pleases, while your money goes into a black hole every month as a renter.

Stay away from people like this.

 

[Deafheaven]

I'll be one of the few people to keep it real and simply say I can't fukking afford a house even if you handed me one and said just pay the mortgage because I understand upkeep exists as well.

I make above the median income for my area by about 20% and live downtown in a nice area (renting) and its not really feasible to purchase a house as a single person with no kids. I used to work in mortgage, I know what type of hoops people have to jump thru to own if you aren't excessively breaded and ehhh. I'm not so

looking down on people renting or callin them dumb or wasting their money is kind of goofy though. everyone situation is diff and if you come from the hood like me having a roof over ur head in a good neighborhood that is all your own is a blessing in itself.

 

[Peruvian Connect]

As a homeowner, the shyt this nikka is talking about is nothing when considering the rest of his money is going to a real asset that he can leave his children or do with as he pleases, while your money goes into a black hole every month as a renter.

Stay away from people like this.

You're silly. Everyone doesn't have kids. I can jut as easily save my double mortgage payment is a trust for my kids.

Also alot of people don't keep up their hmes. They leave their kids a shyt shell thats worth nothing and needs to be repaired.

kids might not even want your crib

 

[In The Zone '98]

Supposed to be a black message board

Stop financially shaming people who are at a historical disadvantage

This is the part where one of you say, oh I'm just talking to those who got it

No, you smart dumb nikka. Uplift everybody with your words

 

[Based Lord Zedd]

Most people aren't choosing between owning and renting, they are trapped into renting. Owning a house is a privilege in this crazy country.

The people who can afford a quality house/condo/etc and choose to rent instead probably have their reasons

 

[Trojan 24]

To the people saying houses are too expensive, what kind of houses are you looking at? Sounds like it's 4-5 bedroom detached homes. There are so kinds many other options especially if you don't have a family. Apartments are 2-3 bedrooms max and you got get a condo or townhouse cheaper than detached

In my area a 2 bedroom 1250 SQ FT house is 750K, if it's recently been renovated add 100K

 

[Menna]

Rent is like chicken nuggets, you gotta eventually grow outta that shyt

Nah…it depends

Last 2 months… $350 plumbing leak

Half a tree fell $1,200 for removal

HVAC fix $700 (might need a new ones $16,500

Renting seems good there are other investments besides a primary home

 

[Scaaar]

Getting that 20% down payment isn't easy. If you looking at a $250k house, that's $50,000.

Of course you could use the FHA loan but expect to pay more on the mortgage.

If you get an FHA loan you're usually only paying between 6-7% but you'll have to roll that house insurance into that escrow

 

[IsThatBrothaMouzone?]

Right now for a lot people rent is cheaper

Air conditioner unit breaks, gutters fukked up, plumbing issues then someone comes out and fixed it because it’s part of the lease agreement

U have a mortgage and something breaks or need repaired thats more money out your pocket as well as paying for your mortgage

U have no idea what others financial situation is

True.

If money isn't an issue, a owning >>>>> renting; but for most people, they simply lack the funds even with disciplined saving.

Isn't the median HHI like $80k? If you assume the ideal house price is 3x the HHI, then you shouldn't be getting into a mortgage above $240k. I've heard some say you can go up to 5x, but $400k mortgage when the HHI is only $80k is a stretch UNLESS you got $$$ from grandma for a big down payment.

Basically, the average person would have to reallllllly stretch themselves to make it work. This assumes no issues with the roof, HVAC etc.

Now throw in interest rates and property taxes and things get more dicey.

Again....owning is better than renting ....if you can afford it. The issue is most people can't afford it, even those living in their own home. The majority of Americans own and credit card debt is at an all time high. That's not just irresponsible 20-something renters taking exotic vacations. That's folks living hand to mouth trying to scrape by on their mortgage.

Make the decision thats right for YOUR situation.

 

[Ironman]

You got 1.5ms to pass me sure I'd get one

 

[Zero]

N/m, read it wrong

 

[Scaaar]

Let’s speak in reality and not fear. What’s more on a mortgage if you have to pay mortgage insurance? An extra what? $100? If that.

FHA loans are the answer for millions of people and nobody pushes it. It’s always downplayed.

If you can get a home right now cheaper than rent I suggest you do it. Even if the market tanks tomorrow, if you keep your house, history tells you it will rebound.

If major metros, owning something might not be cheaper than renting right now. Unless you can personally fix up the home.

I'm always confused about that. A majority of folks get their first homes through FHA loans. We hear all the time that people can't afford a $400 emergency but they have 20% to put down on a home!? Why is there such a negative outlook on FHAs? Besides the VA it's the easiest path to homeownership

 

[NO-BadAzz]

Getting that 20% down payment isn't easy. If you looking at a $250k house, that's $50,000.

Of course you could use the FHA loan but expect to pay more on the mortgage.

And thats just the house...still gotta account new furniture, you know you not bringing that old shyt of yours into a brand new house.
You know you and the wifey are gonna want new furniture...well she will...

 

[tuckgod]

You're silly. Everyone doesn't have kids. I can jut as easily save my double mortgage payment is a trust for my kids.

Also alot of people don't keep up their hmes. They leave their kids a shyt shell thats worth nothing and needs to be repaired.

kids might not even want your crib

You are a guttersnipe.

Put me on ignore my words aren’t for you.

 

[the cac mamba]

owning is about what you're gonna be doing when you hit 60

renting is cool for a while, but are you really tryna spend your 60s and 70s paying 5 grand a month in rent, and at the will of a landlord for having somewhere to live? unless you're sure you're inheriting a house