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turtlebits 7 hours ago

The Repair section of the article could have been mitigated by a inspection and negotiation before buying.

Always negotiate repairs into the offer price.

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zeroonetwothree 7 hours ago | parent | next [-]

In some markets they get like 20 offers for a house. You aren’t going to negotiate anything at that point

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turtlebits 6 hours ago | parent [-]

Then don't worry about the cost of ownership because you're going to make it up in equity.

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zeroonetwothree 6 hours ago | parent [-]

How does buying for a high price mean you will make it up? If anything it should mean the opposite.

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shaewest 4 hours ago | parent [-]

Probably alluding to high demand rather than high prices. More demand, more likely you're win on equity

	▲	leflambeur 2 hours ago \| parent [-]
		Demand can be fleeting. See Austin, TX in the early pandemic years vs now Too much reliance on the permanent number-go-up hypothesis in home prices

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Finnucane 7 hours ago | parent | prev [-]

If you live in a house long enough, you will have to deal with things. There will at some point, be a new roof, a new furnace. New windows. Some of it will be optional, some will not. If you are renting, part of your rent is going to the landlord to cover these things. And you are dependent on them doing it. One way or another you are the one paying. If you own, at least you have the choice of doing it the way you like.

Probably the biggest factor of considering the rent/buy question is how long to do you expect to be there. We paid off our mortgage after 16 years, so now it's 'free', except for ongoing maintenance and taxes. And we're looking at some nontrivial reno in the future: the kitchen is quite beat, and someday we'll need to deal with the asbestos siding (one of four layers on the house!). But it least it's our choice.