Mortgage or Renting?

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Apr 25, 2002
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Houston
#23
Hoston boomin real estate wise, right?
Very much. From what people who have been here a long time have told me, there used to be fields in between the city and surrounding suburbs. Now, the city is becoming so massive that it is consuming all of the suburbs to where you can't tell where one city ends and the next starts. It's essentially if someone sees an empty field, they start building something on it.

My brother just came out to visit from San Diego last month and he is thinking of finally buying a house. I told him to pay attention to the multitude of billboards advertising new communities and how much the houses are going for brand new compared to what he is looking at in Southern California. All he could say was, "What the fuck?!" Homes that would easily be $500,000+ in Southern California are being advertised in the $200,000s.
 

Stealth

Join date: May '98
May 8, 2002
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#25
Rented my whole life. Bought a townhouse last year. About 1/3 of the mortgage goes to P&I. It's damn nice to finally build equity and get some tax breaks. No landlord. More pets. Took me till 33 to buy a house when my parents did it at 20. 15 years of wasting $$ on rent that I'll never get back.

I'm in Philly and got 3000 sq feet for about $325,000. My brother is renting in San Diego. <1000 sq feet. Landlord said he'd sell for $2.2 million. I'll stay out east.
 

P.E.

Sicc OG
Feb 24, 2003
1,977
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#26
everywhere in Cali is expensive as fuck,..Dago,O.C..LA..Santa Barbara,San Jo, the Bay,Sac town,smh....im thinking of heading out to Las Vegas soon!..my cuz got her real estate license in Henderson,hookin up 3-5 bedroom pads for like 850-1500/month with a pool,etc...plus dank is legal there now,heard its easy to start a weed business out there!...cheap rent,legal gambling,whores,good grub,and soon the RAIDERS...Las Vegas is where its at!
 
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28g w/o the bag

politically incorrect
Jan 18, 2003
21,677
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metro's jurisdiction
siccness.net
#34
everywhere in Cali is expensive as fuck,..Dago,O.C..LA..Santa Barbara,San Jo, the Bay,Sac town,smh....im thinking of heading out to Las Vegas soon!..my cuz got her real estate license in Henderson,hookin up 3-5 bedroom pads for like 850-1500/month with a pool,etc...plus dank is legal there now,heard its easy to start a weed business out there!...cheap rent,legal gambling,whores,good grub,and soon the RAIDERS...Las Vegas is where its at!
the enthusiasm of legalized marijuana may be enough to keep me in vegas... they did not fuck around in nevada

i'm currently staying at my parents house saving up some money... chances are, i'll probably pick something up off of summerlin parkway if i don't buy something in socal... i really want to keep my cost of living entirely down though

::
 
Jul 6, 2002
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$o. $an Fran
#35
Renting in the bay. Too damn expensive. Owner sold the building. New owner came in and raised the rent 500 bucks. I want to buy a house but Im not paying 500000 for a piece of shit. Or a small ass condo. Its gotta come down sooner or later I hope.
 
Jan 31, 2008
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#36
paying 3k here as I already mentioned. Wanted to terminate the lease early and they said they raised it to 200% the cost of rent. So if I am to terminate within these remaining 6 months i'll have to pay $9000 + cleaning fees. Fuck this place
 

Hood Rat Matt

aka Goodfella (since '02)
Oct 19, 2009
3,976
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East Oakland (Hills)
#38
paying 3k here as I already mentioned. Wanted to terminate the lease early and they said they raised it to 200% the cost of rent. So if I am to terminate within these remaining 6 months i'll have to pay $9000 + cleaning fees. Fuck this place
ouch...fuckin crooks

I had a friend in high school who would always talk about buying a rental property in Texas. He managed to do it shortly after he graduated and now he has 5 properties. I wish I had that kind of foresight and knowledge that early.
 
Jan 31, 2008
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#39
Is that in your contract terms? What about subletting
I asked them to show me where it says they can raise it as they will and they sent me back this with highlighted portion that I bolded

b. You have no right to terminate your Lease prior to the end of your Lease term. If you terminate your tenancy early, you will be in default under the Lease, and you will be responsible for paying early termination rent at the rental rate that is in effect on your move-out date until the earlier of (i) the end of your Lease term; or (ii) the date a new resident moves into the Premises. If we offer you an early termination settlement as an alternative to paying early termination rent, you must make the election to enter into the settlement at the time you are planning to move out early and pay the early termination settlement amount before you vacate the Premises.

so just a bunch of purposeful perversion of language. Everything else in the contract is spoken more clearly.

I already mentioned lawyer and will make them hate me for these last 6 months just because it is a dick move on their end
 
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Stealth

Join date: May '98
May 8, 2002
7,137
1,177
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#40
Probably not gonna be worth your money to hire a lawyer. You basically have three options:

1. Settle with company at whatever amount you both agree to and go your own separate ways.
2. Break the lease and move out. They could sue you for amounts owed, but they have a responsibility to mitigate costs. This means they're supposed to rent the place out ASAP. So if you move out and two weeks later they find another tenant, they only have two weeks of damages. If they take 6 months to find a new tenant, you have 6 months of damages. If they get a judgment against you, it'll hurt your credit, but there's a good chance they can't even collect on the judgment.
3. Stay in the place.

The only other option is to find a legitimate reason to move out. Usually if you prove the place isn't habitable, then the landlord has breached an implied warranty. If there's no electric or heat or water or sewage or there's mold or whatever else, you can try to get the landlord to fix it, and if they ignore you, file a lawsuit in small claims court telling the judge the place isn't habitable and you want to move out.