Mortgage or Renting?

[StillHustlin]

Do you have a mortgage(s) or do you rent?
What % of your monthly income are you paying toward mortgage(s)/ rent?
If you own, what % of your monthly payment(s) are you paying to principal?
Are you above or under water on your mortgage(s)?
If you rent, what keeps you from buying?

 

[SocialResponsibility]

Mortgage
~27% including HOA
Of P&I - roughly 1/3rd is principal (not inclusive of property tax or insurance)
Above - approx $200,000 in net equity

 

[StillHustlin]

Mortgage on the home I live in
25% of take home, but mortgage is only 17% of take home
~33% but plan on bumping up extra principal to get down to a 10yr
Above water

 

[LiterACola]

Mortgage I guess like 1/4 of my income you guys got this down to a science. I'm above water but it would be nice if my wife got a job

 

[DuceTheTruth]

I RENT LIKE A MUHFUKKA.....DRIVE AROUND ON MY JOB LOOKIN AT HOUSES DAYDREAMIN OF WHAT I WANT.

 

[StillHustlin]

I RENT LIKE A MUHFUKKA.....DRIVE AROUND ON MY JOB LOOKIN AT HOUSES DAYDREAMIN OF WHAT I WANT.

You live in SD right? I luv daydreaming there too, may move there in 2020 depending on my sector. Still trying to pool investors together to go in on a beach house too, but most ppl I know/ work with are just talk and not serious or are cash poor (which they shouldn't be considering I know what they make)... smh.

 

[LiterACola]

I really want to sell and go to Idaho or Colorado the Bay Area, especially San Francisco, are driving me insane lately with the bums and heroin it's too gross man

 

[InfamousICON]

I rent, almost bought 3 years ago, glad I didn't.

 

[StillHustlin]

I really want to sell and go to Idaho or Colorado the Bay Area, especially San Francisco, are driving me insane lately with the bums and heroin it's too gross man

Colorado sounds dope. I work with quite a few ppl who lived there and they miss it.

 

[WT SAVAGE]

Renting 1700 + utilities (g,w,s, $115)

Looking into buying in the next couple years.. but houses built in the 90s up here still go for 200-350k.. bankruptcy is holding us back, gotta get that credit up.

Saw a sign the other day they are building new houses in the high 500k, a real wtf moment.

 

[LiterACola]

Aren't you in Windsor? 500k would be a steal

 

[WT SAVAGE]

500k if i needed a 6br 3 bath.. i dont need that.

 

[WT SAVAGE]

But i refuse to raise my kids in the shitty school/ area of santa Rosa so i gotta foot the bill

 

[LiterACola]

Yeah Santa Rosa sure gone to shit

 

[DuceTheTruth]

You live in SD right? I luv daydreaming there too, may move there in 2020 depending on my sector. Still trying to pool investors together to go in on a beach house too, but most ppl I know/ work with are just talk and not serious or are cash poor (which they shouldn't be considering I know what they make)... smh.

yea im in SD....i swear the pay is hella far off from the cost of living.....you either gotta have 2 people doin ok/good to afford an apt or 1 person with a damn good job.

do you want a beach house to rent it out?

 

[:ab:]

I RENT LIKE A MUHFUKKA.....DRIVE AROUND ON MY JOB LOOKIN AT HOUSES DAYDREAMIN OF WHAT I WANT.

yeah man, i know that feeling, driving around seeing houses and wanting to buy... we're renting right now

the bay is hella expensive so we're pretty much priced out of the places we want to live at

i also think the market is really high right now and may be due for a correction (although the local economy is still strong and does not appear to be slowing down any time soon...i'm more like, how many mfckas can afford a million dollar plus mortgage for a regular ass looking house?). This may be more of a hope than anything but we'll see

we're going to try and buy sometime (maybe in the next year or two) but i've got to make sure it'll be a good place for my kids to grow up

 

[StillHustlin]

yea im in SD....i swear the pay is hella far off from the cost of living.....you either gotta have 2 people doin ok/good to afford an apt or 1 person with a damn good job.

do you want a beach house to rent it out?

yezzir

 

[AdolfOliverBush]

We finally achieved our dream of purchasing after renting for 5 years in the military plus several years before. We put away so much money (over $50,000) while I was in the military to put towards a down payment on a house. We pay the bare minimum, which is about 20% of our take home, since I am a school teacher ballin' on that large teacher's salary (yeah, right!) and my wife is a stay-at-home mom for the most part. She homeschools our daughter, which allows us to not have to pay private school tuition and also keep her out of the crappy public school system. We're above water and have only been in the house for about a year and a half. We had it built brand new.

 

[StillHustlin]

We finally achieved our dream of purchasing after renting for 5 years in the military plus several years before. We put away so much money (over $50,000) while I was in the military to put towards a down payment on a house. We pay the bare minimum, which is about 20% of our take home, since I am a school teacher ballin' on that large teacher's salary (yeah, right!) and my wife is a stay-at-home mom for the most part. She homeschools our daughter, which allows us to not have to pay private school tuition and also keep her out of the crappy public school system. We're above water and have only been in the house for about a year and a half. We had it built brand new.

Hoston boomin real estate wise, right?

 

[StillHustlin]

I rent, almost bought 3 years ago, glad I didn't.

Why is that? The last time Phoenix saw a 153 CMI score was 2011, and look at how much it has appreciated since then. We should be seeing even more appreciation now.