General Discussion

tammywammy

(26,582 posts)

22. con: rents go up

Sun Jul 26, 2015, 11:01 AM

Jul 2015

Last edited Sun Jul 26, 2015, 11:56 AM - Edit history (1)

What happens if in a few years the rent is no longer affordable? At least with a mortgage you have the same payment monthly. Rent goes up with each lease renewal. Are you prepared to move every few years when the rent becomes unaffordable?

Also, for every apartment I've lived in I still had to pay for electricity and water. Those summer electric bills were awful, since the air conditioner units were always undersized.

Edited to add: if you want to downsize, I would maybe look for a newer built smaller house. Get a home warranty, that would cover things like broken air conditioner, plumbing issues, etc.

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any realtors here? We are thinking of changing lifestyles. Selling our home moving [View all] demtenjeep Jul 2015 OP

You might want to consider condo living London Lover Man Jul 2015 #1

Condos are the worst of both worlds Warpy Jul 2015 #2

I won't argue with you about that perception of condos London Lover Man Jul 2015 #5

Good luck Warpy Jul 2015 #6

I lived in a condo for 17 years. Never, never, never, never, never again. worst of both worlds. magical thyme Jul 2015 #23

Disadvantages of living in a trailer (mobile home) csziggy Jul 2015 #41

hubby does not want to own. doesn't want to keep worrying about what can go worng demtenjeep Jul 2015 #3

I can tell you onething that will go wrong with renting. The price will go up every year. It will freshwest Jul 2015 #18

Perfectly understandable London Lover Man Jul 2015 #21

I'm in a complex full of duplexes that runs more like a co-op. KentuckyWoman Jul 2015 #19

It's good to be home owners when you're older daredtowork Jul 2015 #4

our kids are grown and married and starting families of their own. We really have no ties demtenjeep Jul 2015 #7

first decide what you want. then the way will become clear as necessary nt msongs Jul 2015 #8

we thought first to look at several and just see if we can actually live demtenjeep Jul 2015 #9

next we would need to talk to a realtor to see how fast we could sell demtenjeep Jul 2015 #10

Don't do that to your dogs. cwydro Jul 2015 #38

A primary residence is NEVER equity. Period. KentuckyWoman Jul 2015 #20

I'm going to politely disagree here. SheilaT Jul 2015 #29

We actually agree. KentuckyWoman Jul 2015 #35

On of the things I learned in a civics class might interest you Samantha Jul 2015 #11

Downtown might be quiet on the weekend. roody Jul 2015 #12

It is nice to have a paid off mortgage when you retire. dem in texas Jul 2015 #13

yea...he has said at worst we go house hunting again demtenjeep Jul 2015 #15

Think about RENTING a house packman Jul 2015 #14

Much depends on your location, which city. Different cities have different economic & housing issues underahedgerow Jul 2015 #16

My cheap advise having been there done that. KentuckyWoman Jul 2015 #17

con: rents go up tammywammy Jul 2015 #22

I am a homeowner.. sendero Jul 2015 #24

The question I'd ask is what your equity position is in your current home. MineralMan Jul 2015 #25

He's legally blind and he's still driving?? SheilaT Jul 2015 #26

It stood out to me too tammywammy Jul 2015 #27

Was thinking the same exact thing. nt B2G Jul 2015 #28

with correctives he is 20/60 and I would put his driving up against anyones demtenjeep Jul 2015 #30

Then he's not legally blind tammywammy Jul 2015 #31

Legally blind is more complicated than that. KentuckyWoman Jul 2015 #36

he is legally blind. We have the letter givenI to his family when he was 2 demtenjeep Jul 2015 #39

As TammyWammy said. SheilaT Jul 2015 #33

The worst thing is noise.... ileus Jul 2015 #32

Nice thing about renting PasadenaTrudy Jul 2015 #34

You mention puppies. cwydro Jul 2015 #37

yes this is an issue we have two beautiful boxer babies demtenjeep Jul 2015 #40

The dog situation is tough mnhtnbb Jul 2015 #42

thank you demtenjeep Jul 2015 #43

You're welcome and mnhtnbb Jul 2015 #44