Pro's and Con's

[ATP]

Hi guys. I wanted to make a fun little list to look at. Do you have a list? - ATP

[SIZE=12pt]Mortgage Payments vs. Rent Money[/SIZE]

[SIZE=12pt]Pro’s[/SIZE]
[SIZE=12pt]Mortgage Payments – Living in a nice neighborhood[/SIZE]

[SIZE=12pt]Con’s[/SIZE]
[SIZE=12pt]Mortgage Payments – You pay double in interest[/SIZE]
[SIZE=12pt]Mortgage Payments – Roofing, plumbing, electric, pavement, kitchen can go bad [/SIZE]
[SIZE=12pt]Mortgage Payments – Stuck with bad neighbors
Mortgage Payments – Must cut lawn/shovel snow

Pro’s[/SIZE]
[SIZE=12pt]Rent Money – Maintenance fixes everything [/SIZE]
[SIZE=12pt]Rent Money – Do not have to cut lawn or shovel a lot of snow[/SIZE]

[SIZE=12pt]Con’s
Rent Money – Rent also goes up the longer you live there[/SIZE]
[SIZE=12pt]Rent Money – Living in a bad neighborhood[/SIZE]
[SIZE=12pt]Rent Money - Stuck with bad neighbors[/SIZE]

 

[Born_Again]

That's funny you posted that... I am getting ready to sell my house so I can rent a place and not be tied into a mortgage. LOL Makes it easier to move for work.

 

[ATP]

That's funny you posted that... I am getting ready to sell my house so I can rent a place and not be tied into a mortgage. LOL Makes it easier to move for work.

Now you can toss your lawn mower. Hope everything works out.

 

[FHII]

I am in no position to own a house, but some day I hope to be in that position. I am not saying I will.... I just want to be in the position to do so!

2 Timothy 2:4 says that no man who warreth entangles himself with the affairs of this life, so that he can please him who hath chosen him to be a soldier [paraphrased]. If you own property, you are kind of tied down to it to some degree. May not be 100% applicable and certainly the Bible is not against owning land or houses (in fact it could be a good thing if you are ready to give it up and/or share it for God's greater purpose.

Just a thought....

 

[KingJ]

Hi guys. I wanted to make a fun little list to look at. Do you have a list? - ATP

[SIZE=12pt]Mortgage Payments vs. Rent Money[/SIZE]

[SIZE=12pt]Pro’s[/SIZE]
[SIZE=12pt]Mortgage Payments – Living in a nice neighborhood[/SIZE]

[SIZE=12pt]Con’s[/SIZE]
[SIZE=12pt]Mortgage Payments – You pay double in interest[/SIZE]
[SIZE=12pt]Mortgage Payments – Roofing, plumbing, electric, pavement, kitchen can go bad [/SIZE]
[SIZE=12pt]Mortgage Payments – Stuck with bad neighbors
Mortgage Payments – Must cut lawn/shovel snow

Pro’s[/SIZE]
[SIZE=12pt]Rent Money – Maintenance fixes everything [/SIZE]
[SIZE=12pt]Rent Money – Do not have to cut lawn or shovel a lot of snow[/SIZE]

[SIZE=12pt]Con’s
Rent Money – Rent also goes up the longer you live there[/SIZE]
[SIZE=12pt]Rent Money – Living in a bad neighborhood[/SIZE]
[SIZE=12pt]Rent Money - Stuck with bad neighbors[/SIZE]

Stuck with neighbors is not a con of renting though.

The biggest pro of mortgage is you can recover most of what you paid one day when you sell or rent it out.
Hence the biggest con of renting is you are throwing 100% away to the wind.

 

[HammerStone]

Well, the limiting factor for me in renting comes down to the property owner. You are at the mercy of the owner not paying his/her bills or refusing to properly maintain things. There are lots of laws and whatnot, but if you're going to be in an area longterm it would stink to move places.

That said, it's really very situational. We opted for ownership, but you are locked in on that mortgage for a time, and with current rates, it's hard to flip quickly and get your money back out should you need to move sooner rather than later. Obviously a good-sized down payment can help with that.

By the way, we'll move this over to the Stewardship forum. Thanks!

 

[Axehead]

PROS....... House Paid Off

CONS....... We don't own it, because we have to pay property taxes for life.