I hate property tax

[Capt Caveman]

Can someone tell me why renting is bad again?

HOA + Prop Taxes + Maintenance = pissing money away

After paying off my mortgage, the above will be less than your rent which you will pay forever.

 

[Ns1]

After paying off my mortgage, the above will be less than your rent which you will pay forever.

yeah but you still paid a mortgage (ie principal + interest) for 15-25 years, along with all of the above.

 

[vi edit]

Over $10k a year for me in taxes in downstate IL.

Bleh.

 

[waggy]

yeah but you still paid a mortgage (ie principal + interest) for 15-25 years, along with all of the above.

sure. but at the end of those 25 years he has something to show for it. He can then if he decides to move sell the house.

 

[rh71]

currently $11k/yr in taxes (7k is school, rest is general). But we built up so it'll be $15-16k/yr in the very near future when they catch on. Such is life here in Nassau County in a good school town.

BUT HEY, NO HOA!

 

[Capt Caveman]

sure. but at the end of those 25 years he has something to show for it. He can then if he decides to move sell the house.

Yeah, 25-30 years of equity compared to rent that increases and you have nothing afterwards.

 

[HamburgerBoy]

Oh God,... you are one of "those" people.

You deserve to suffer for all of eternity. Have fun in hell.

Doesn't San Francisco have all sorts of regulations on all those terraced houses? It's ok when the government does it, amirite comrade?

 

[Red Squirrel]

After paying off my mortgage, the above will be less than your rent which you will pay forever.

This. Not to mention house values normally go up over time so even at high interest, you can still make a pretty good profit, and even more profit if you've updated it. My parent's house would go for over 200k easily. They paid like 80k 25 years ago.

 

[KK]

So far we have two properties we have to pay tax on, next year we'll have 3. Not sure how the new one will work. Its rated now for conservation use, basically farm land, and was owned by the wife's parents, so not sure if they get a discount for being old. Currently they pay around 1100 for just over 100 acres, if it gets converted back to residential then the tax estimator online says around 2400.

 

[ponyo]

Can someone tell me why renting is bad again?

HOA + Prop Taxes + Maintenance = pissing money away

Let's see. I pay ~$3.5-4k/yr property tax for ~4k sq ft home. I own it and can make changes to it if I want. I just have to pay property tax once a year and that's it. I own it outright since I have no mortgage and if I decide to move, I can sell it and get the money or rent it out to a person like you and collect monthly income.

Pissing away money is when you buy or rent way too expensive place. Too many people try to make their primary home into their primary investment. Home is nothing more than a roof over your head and a place to live. We all have to live somewhere. If I'm going to live somewhere, I rather own it if Im going to be there long-term. Key is moderation.