how much do you pay in rent?

[onza]

once i hit college i'll pay 264.00+utilities so i'm guessin 310.00 per month total

but thats split up with 7ppl... so that ='s alot of cash for the 8person house we have

264 x 7 = 1848.00

 

[apac]

Wow, and I thought I was paying a lot. $1400/mo 2 br 2 bath 1,100 sq ft. split with a roommate, so $700 each. All my friends are paying $600 ea., but we bumped up the rent $100 because those in the lower price ranger were only ~800 sq ft. Location is prime too - across the street from my campus.

edit: Boulder, Colorado

 

[palle33]

728 for 3 room appartment in sweden...I think its expensive cause it isnt fancy or newly repaired....
the view is good though

 

[fredtam]

$0. Wife is a property manager and the apt. is included in her salary. We rent the house out that we bought a few years ago and bankroll the paychecks.

 

[jyates]

Originally posted by: Modeps

Originally posted by: vi_edit

Originally posted by: Modeps
$0 in rent. Renting is for SUCKERS

That's a pretty ignorant statement. Renting is a completely viable option if you don't know if you are going to be in an area for long, or if you aren't sure where exactly you want to finally settle down. It's stupid to purchase a house and then turn around and sell it in less than three years.

Ignorant? Not at all. I'm just telling it like it is. I rented too, and it was stupid. If I could have done it over again, I'd totally stay with my parents and save up for a while, then buy a place. I rented for a year, then bought a condo. I'm currently under contract to sell my condo for more than 35k than I paid for it, as well as purchase a home for my wife and I.

If you are renting, you're handing your money to someone else and seeing ZERO benefit for it other than that you are living in an apartment, no tax breaks, no equity, nothing. It's basically flying out the window. While you may think that owning a condo or house is impossible, look at it this way... If you buy a condo, you'll probably be paying about the same to rent that you will in a mortgage. Plus you dont need to put any money down if you've got good credit.

edit: plus with ownership comes the massive tax breaks and the very good possiblity of profit when you sell.

If you aren't going to stay in a house for a certain length of time you don't want to buy
because of closing costs and loan origination fees.

You can buy a $100,000 home and probably turn around and at least get the $100,000
back a year later but you may not get enough to cover what it cost you to buy the house
in fees.

Depending on the value of a home it may take 3 years before you are actually building any
equity in the home that you can actually cash out.

Short story is that if you aren't sure how long you are going to be living in a certain place that
sometimes actually paying rent is the smart thing to do.

 

[TonyG]

Rent is $450/month for the 2 bedroom duplex I am currently at, in the Texas Panhandle. After all the utilities it comes out to about $600/month, which is divided equally between me, and my roommate, so it is costing me about $300/month.

 

[phreakah]

$700/month for a studio w/ kitchen and utilities(gas, water, elec) in Westwood, Los Angeles.

 

[vi edit]

If you aren't going to stay in a house for a certain length of time you don't want to buy
because of closing costs and loan origination fees.

Not to mention on the sale end of things you hand over 6% of your equity in realtor fees. So what if you gained $20,000? You still pay $12,000 in realtor fees if the house is valued at $200,000.

Between those fees, closing costs, and a downpayment it just isn't a smart move if you don't know the permanency of the location.

 

[memo]

680/mth 3 bedrooms with 1 roomate. 340 per person.

 

[konakona]

$370 a month, sharing an apartment with 2 other roomates. comes with 2 bathrooms and a shared kitchen and a garage

 

[Yossarian]

$1225, 1 bed 1 bath, Redondo Beach, CA

 

[DaiShan]

$355 a month, 3 bedroom 3 bath appartment, but its more like a townhouse, 2 balconies and an outdoor patio, and 1150 square feet

 

[Argo]

$1200

 

[JulesMaximus]

Originally posted by: DT4K

Originally posted by: JulesMaximus

Originally posted by: DT4K

Originally posted by: JulesMaximus
My mortgage payment=$1400/mo., 2,200 sq ft home in North County (coastal) San Diego.

Edit-4 Bdr 3 Bth

Did you have a big down payment or did you buy quite a few years ago when prices weren't so outrageous?

1400/mo mortgage in SD is super cheap.

When I lived in SD in 1993, we paid 600/mo for a nice 1 bdr apt and you could actually buy a nice house for 200k.

Both, put 20% down and bought 5 years ago when prices were just starting to go mad.

Congrats. Nice timing.
I also got in on some good timing in my local market. Smaller scale than SD, but we paid 145k for our new 3 bdrm less than 2 years ago and it's worth 200-225k now.

Ours is an example of when it's a good idea to buy even for the short term. We could have sold our house 3 months after buying and walked away with 10-20k in cash. This is an exception to the rule though and I agree with SampSon and vi_edit that buying is NOT always the best idea. It obviously depends on the market, but in most cases, you shouldn't buy unless you are going to stay for a few years.

Yeah, I'd bank over $350k if I sold our house right now. My wife is a Realtor so we would only pay 2.5-3% to the buyer's agent. We aren't selling though so it's a moot point.

 

[shopbruin]

1151/month for a studio in West LA. Pay an additional 65/month for a second parking space.

will soon be moving to a one bedroom for 1195/month. i live with the bf so we split rent.

 

[phreakah]

Originally posted by: freesia39
1151/month for a studio in West LA. Pay an additional 65/month for a second parking space.

will soon be moving to a one bedroom for 1195/month. i live with the bf so we split rent.

wow that is an expensive studio... the one next to me was vacant for a while for 700 including utils and parking.. I live on veteran about a block from ucla.. theres a bachelor (REALLY small kitchen) available for like 650 i think w/ the same setup.. utils and parking

 

[Smolek]

Originally posted by: vi_edit

Originally posted by: Modeps
$0 in rent. Renting is for SUCKERS

That's a pretty ignorant statement. Renting is a completely viable option if you don't know if you are going to be in an area for long, or if you aren't sure where exactly you want to finally settle down. It's stupid to purchase a house and then turn around and sell it in less than three years.

I disagree, if you have the money, I would always suggest buying over renting if you plan to be there more then 1 year. Unless you're in some ghetto or creek, houses appreciate on average of 10% a year (some areas are even greater, this particular area outside of Chicago did 20% in the last ~8 months) so on a good lot, even if you stay 2 years, you should still be able to pocket 15-30k if not more after that two years.

 

[vi edit]

I disagree, if you have the money, I would always suggest buying over renting if you plan to be there more then 1 year. Unless your in some ghetto or creek, houses appreciate on average of 10% a year (some areas are even greater) so on a good lot, even if you stay 2 years, you should still be able to pocket 15-30k after that two years.

And I still disagree. Between down payments, closing costs, furnishings, and realtor costs on the sale, it still isn't wise. If you are in a slower moving market your house could sit on a market 3-6 months...if not more before finding a buyer. In 3-5 years you'll at best break even in an average market. It just isn't worth it if you are uncertain on the long term commitment to an area.

 

[Deeko]

My apartment is a 2 bedroom in Philly. There are 4 of us. We pay $1945/month + utilities, with utilities it works out to about $600/person.

 

[SuperTool]

$885 of large 1br 1.5bath w/ garage.
Sunnyvale, CA

 

[Jzero]

$615/month + electric and cable. Studio apartment. No roommates.

 

[Yomicron]

$400/mo which includes water/electric/gas. It's a Studio guesthouse w/ a kitchen and it's <1 mile from campus.

 

[Heisenberg]

$665/mo which includes water and trash for a 2 bedroom duplex (~1000 sq ft.) with a 2 car garage, patio, and fireplace.

 

[cheetoden]

$1600 for 4 bedroom 2600sq ft in north Detroit subburb

 

[ucdbiendog]

1362 for a 4bed flat w/washer and dryer in davis, CA. I pay like 330 for my own room