When is it worth getting a roommate?

[Riverhound777]

tax benefits?
reporting the roommate income nets you MORE $ than not reporting it?

Yup. By having a rental unit, I get to write off a bunch of stuff I wouldn't normally be able to, such as HOA fees, utilities, depreciation, and and major purchases for the unit, like appliances. Though only 50% of all that since i'm renting out half the condo. But still, for the past few years i've had quite a nice "loss" on my rental income tax. This year it was $-6800 after doing a remodel with all new appliances.

 

[JEDI]

Yup. By having a rental unit, I get to write off a bunch of stuff I wouldn't normally be able to, such as HOA fees, utilities, depreciation, and and major purchases for the unit, like appliances. Though only 50% of all that since i'm renting out half the condo. But still, for the past few years i've had quite a nice "loss" on my rental income tax. This year it was $-6800 after doing a remodel with all new appliances.

-6800 tax deduction.
im assuming your roommate pays less than $6800/yr in rent?

and depreciation is kinda misleading.
you have to pay it back when you sell.
it's only good if u keep the house forever, die, and pass it along to your heir.
or has that changed?

 

[AznAnarchy99]

I would Never Ever buy something that I couldn't afford on my own. I also detest having a room mate.

Its hard to do that on the coasts.

 

[Riverhound777]

-6800 tax deduction.
im assuming your roommate pays less than $6800/yr in rent?

and depreciation is kinda misleading.
you have to pay it back when you sell.
it's only good if u keep the house forever, die, and pass it along to your heir.
or has that changed?

True on the depreciation a guess, i've never owned before so didn't know about that.

On the rent no my rental income last year was $9k, will be $15k this year so my net loss may be a lot less.

 

[pcgeek11]

Really showing that touchy feely side of yourself there

Nope not at all.

 

[pcgeek11]

Its hard to do that on the coasts.

Then I would move.

It is blatantly stupid to get into more debt than you can afford.

 

[Red Squirrel]

Then I would move.

It is blatantly stupid to get into more debt than you can afford.

Yeah it's hard enough saving as is with costs of living constantly going up even in cheaper places, can't imagine being in a situation where I can't even afford my own place without having to depend on someone else too. what if they lose their job or decide they want to move out etc. It's like raid 0 for income. lol

 

[MrSquished]

Yeah it's hard enough saving as is with costs of living constantly going up even in cheaper places, can't imagine being in a situation where I can't even afford my own place without having to depend on someone else too. what if they lose their job or decide they want to move out etc. It's like raid 0 for income. lol

You just get a new roommate. Where I live it's easy peasy, due to proximity to NYC.

I'd rather scrape by near NYC than live grandly in flyover country. Any day of the week and twice on Sundays.

 

[Carson Dyle]

Then I would move.

It is blatantly stupid to get into more debt than you can afford.

With regard to counting on having roommates to help pay the mortgage, it's no different than counting on working a second job. I guess by your logic (or lack of), buying a place that depends on you working that weekend bartending job for an extra $300 a week is "blatantly stupid".

 

[pcgeek11]

With regard to counting on having roommates to help pay the mortgage, it's no different than counting on working a second job. I guess by your logic (or lack of), buying a place that depends on you working that weekend bartending job for an extra $300 a week is "blatantly stupid".

The hell it isn't. I know I can depend on me. I'm not going to move out and leave me high and dry or forget to pay my part of the rent. Lots different. I only work one job, I don't spend above my means and maintain a generous savings account.

I'm not going to put my finances on the line with somebody I met via a room for rent ad. Blatantly stupid. Yes.

 

[Carson Dyle]

I'm not going to put my finances on the line with somebody I met via a room for rent ad. Blatantly stupid. Yes.

Yeah, because it sounds like you'd be completely incapable of the necessary social interaction required to get rid of a roommate who couldn't pay their rent and find another. That's not even a remotely difficult task for most functioning adults.

Blatantly stupid for someone like you.

 

[pcgeek11]

Yeah, because it sounds like you'd be completely incapable of the necessary social interaction required to get rid of a roommate who couldn't pay their rent and find another. That's not even a remotely difficult task for most functioning adults.

Blatantly stupid for someone like you.

No, actually I did have a roommate back when I was young and stupid 20 years old living in Vallejo, CA. Then again we were renting and not buying. Of course that was like 42 years ago and I've grown up since then and I'm capable of supporting myself.

Sounds like I hit a nerve. You must be one of those poor people that depend on a roommate.

 

[Carson Dyle]

Same nerve that I suspect you hit with most people.

 

[pcgeek11]

Same nerve that I suspect you hit with most people.

Ha Ha! I didn't realize you were the sensitive type.

So you think it is a smart thing to get into more debt than you can afford?

A simple yes or no will suffice.

 

[MrSquished]

I'd rather get in a bit over my head and live in a nice urban area than fucking live in some red state hellhole that's for shit sure

 

[pcgeek11]

I will say anyone that goes in over their head on a mortgage and loses their home due to not being able to pay for the same reason deserves to lose it.

 

[repoman0]

The hell it isn't. I know I can depend on me.

The rest of us could depend on ourselves to easily find another good roommate.

And no, I don't have a roommate and I live on a coast. Yet there are many very intelligent people here who do, both renting and owning.

 

[TwiceOver]

I'd rather get in a bit over my head and live in a nice urban area than fucking live in some red state hellhole that's for shit sure

There's no nice urban areas in "red states"? Get your head out of your politics, you sound like a douche. You are exactly what people hate about "New Yokers". "Hell hole red states" "Flyover country"

Go fuck yourself.

 

[MrSquished]

There's no nice urban areas in "red states"? Get your head out of your politics, you sound like a douche. You are exactly what people hate about "New Yokers". "Hell hole red states" "Flyover country"

Go fuck yourself.

Damn straight skippy.

Fuck the deep red states. I wouldn't mind if the coasts seceded from the nation at this point considering where politics have taken this country. I've been to some southern red state cities and nothing bad happened, but they were kinda small and villages compared to NY. So are other cities in blue states like say Portland or Seattle. I wouldn't live there either.

And urban areas tend to be more progressive, even in some red state areas. The problem is the cities are so small you are going to have to venture out of them regularly and then you run into the scary zone. I simply couldn't be around so many backwards thinking people for extended periods of time.

I don't feel like being politically correct about it either. I've been to a bunch of places in this country. The only places I'd visit again are the West Coast and the West, specifically all the national parks out there, and places like Maine, Massachusetts or Vermont.

 

[Fritzo]

The answer is never. It's never OK to get a roommate. I couldn't imagine having to put up with someone's gross habits and not having sex with them.

 

[TwiceOver]

Damn straight skippy.

Fuck the deep red states. I wouldn't mind if the coasts seceded from the nation at this point considering where politics have taken this country. I've been to some southern red state cities and nothing bad happened, but they were kinda small and villages compared to NY. So are other cities in blue states like say Portland or Seattle. I wouldn't live there either.

And urban areas tend to be more progressive, even in some red state areas. The problem is the cities are so small you are going to have to venture out of them regularly and then you run into the scary zone. I simply couldn't be around so many backwards thinking people for extended periods of time.

I don't feel like being politically correct about it either. I've been to a bunch of places in this country. The only places I'd visit again are the West Coast and the West, specifically all the national parks out there, and places like Maine, Massachusetts or Vermont.

That is literally backward thinking. Good luck with that.

 

[shortylickens]

In the Navy while on shore duty I slept in a few different types of barracks and I learned its much better to have a small place for yourself rather than share a large place with psychotic assholes.
I continued this trend with my civilian dwellings and was never sorry.

Since this is your brother, I suppose it might be OK to get a 2 bedroom joint but the problem is he may never leave. Might be better to help him find a tiny place of his own so he wont bug the crap out of you.

 

[Red Squirrel]

Lol people in big cities tend to be the ones out of touch with reality. People have literally called 911 in big cities during widespread power outages because they've never seen the big dipper before.

 

[MrSquished]

That is literally backward thinking. Good luck with that.

I consider it forward thinking or progressive. Why be surrounded with larger numbers of regressive minded people when you can go somewhere there are far less?

 

[MrSquished]

Lol people in big cities tend to be the ones out of touch with reality. People have literally called 911 in big cities during widespread power outages because they've never seen the big dipper before.

I didn't say there aren't any stupid people, there are plenty. Just like anywhere. But at least they aren't regressive.