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kaz101
New Member
It is an interesting article and correct in that most rentals are below what people are paying for a mortgage. And yes although it's called in an investment (even if it's your own home) the purchase is usually made emotionally rather than any other way.
Some friends of mine rent where they live, and with the money that they saved there they have bought an investment property so that someone else can pay their mortgage.
I think for me the renting vs buying for your own place also comes down to making a place feel like a home. People approach us wanting to buy their own home because as renters they can't do what they want with a property and it can be sold from under them so they feel more secure if they have their own home.
Like I said, buying your own home is made emotionally more than any other way.
Cheers,
Karen
Some friends of mine rent where they live, and with the money that they saved there they have bought an investment property so that someone else can pay their mortgage.
I think for me the renting vs buying for your own place also comes down to making a place feel like a home. People approach us wanting to buy their own home because as renters they can't do what they want with a property and it can be sold from under them so they feel more secure if they have their own home.
Like I said, buying your own home is made emotionally more than any other way.
Cheers,
Karen
D
Dave_Velasco
New Member
I had shared it already to some of my friends to read as well. Anyway, good read. Could be among my references.
Ryan M
New Member
It is an interesting article, though the writer doesn't consider that even if your mortgage payment is higher than renting currently, your home is increasing in value over time and you can be able to sell it at much higher price in future.
M
Maria2
Active Member
Non sense
'There is absolutely no proof that 'your home is increasing in value over time and you can be able to sell it at much higher price in future'.
'There is absolutely no proof that 'your home is increasing in value over time and you can be able to sell it at much higher price in future'.
N
Norbert
Senior Member <br /><img src="http://img.propertyc
Duhh...
Houses depreciate, like every other consumable product.
Not at the speed of your iPod, clothes or car, but still. Especially the ones that are built with poor materials, or that are subject to harsh weather conditions. And very few things are built as well as 'in the old days'.
It is the land on which it is constructed that keeps its value much longer, and could even appreciate, depending on location.
But even that - you only have to look at the thousands of ghost towns allover the world that have been abandoned. For one reason or another people don't want to live there anymore. They move out, and give it back to nature.
Century old capitals like Amsterdam or Delft have created strict rules about what can and cannot be done with monumental or otherwise protected buildings, streets, canals, bridges and parks. You will find 400 en 500 year old houses in perfect state housing families, banks, shops or museums.
Those old buildings usually appreciate, although over time even they just keep up with inflation.
You may like this article: http://www.nytimes.com/2006/03/05/ma...0shorto&st=cse
Don’t believe in the '39% instant equity'. Your 'Wealth Consultant' in Liverpool just increases the prices on their advertisements with 39% and BINGO! There's your equity.
A '240m2 villa plot' in some obscure Condominium in the middle of nowhere, and miles away from the nearest beach in the North-East of Brazil? With another 900+ to sell, you'd be living on a noisy eternal building site.
Especially when the next 'Multi-award Winning Developer' starts his own 'Resort'. With yet another 1200+ plots right in front of you now claims the 'Panoramic Ocean Views' that full-colour PDF had promised you.
And there go the 'Four Built-in Exist Opportunities' their flashy website promised you.
This kind of land is available in abundance, especially in the North-east of Brazil. They cost them next to nothing per m2, and they sold at 1000% or more profit. And as soon as you have the deed, you start paying for the maintenance of the ‘Resort’. And the land-taxes.
The problems with these unrealistic developments are rarely Brazilian companies! Brazilians won’t fall for that old trick, and therefore they are usually marketed from Spain or the UK. Their representative is a collaborating agent or their lawyer.
Check Palma Do Mar, Jardim Do Mar or Oasis Do Mar, on this Forum. Millions have been stolen from foreign investors in Paraíba. Again, by European Developers, and their European 'Price-winning Portfolio Consultants' and 'Independent Lawyers'.
Why do people feel falling for these scams?
When you want to invest, and have a better chance on making money, buy something of which there is only one, or just a few, and which are in relatively great demand. E.g. paintings, rare books, a script, a vintage car, stamps, or a Patent. Or a house with an exclusive view.
Houses depreciate, like every other consumable product.
Not at the speed of your iPod, clothes or car, but still. Especially the ones that are built with poor materials, or that are subject to harsh weather conditions. And very few things are built as well as 'in the old days'.
It is the land on which it is constructed that keeps its value much longer, and could even appreciate, depending on location.
But even that - you only have to look at the thousands of ghost towns allover the world that have been abandoned. For one reason or another people don't want to live there anymore. They move out, and give it back to nature.
Century old capitals like Amsterdam or Delft have created strict rules about what can and cannot be done with monumental or otherwise protected buildings, streets, canals, bridges and parks. You will find 400 en 500 year old houses in perfect state housing families, banks, shops or museums.
Those old buildings usually appreciate, although over time even they just keep up with inflation.
You may like this article: http://www.nytimes.com/2006/03/05/ma...0shorto&st=cse
Don’t believe in the '39% instant equity'. Your 'Wealth Consultant' in Liverpool just increases the prices on their advertisements with 39% and BINGO! There's your equity.
A '240m2 villa plot' in some obscure Condominium in the middle of nowhere, and miles away from the nearest beach in the North-East of Brazil? With another 900+ to sell, you'd be living on a noisy eternal building site.
Especially when the next 'Multi-award Winning Developer' starts his own 'Resort'. With yet another 1200+ plots right in front of you now claims the 'Panoramic Ocean Views' that full-colour PDF had promised you.
And there go the 'Four Built-in Exist Opportunities' their flashy website promised you.
This kind of land is available in abundance, especially in the North-east of Brazil. They cost them next to nothing per m2, and they sold at 1000% or more profit. And as soon as you have the deed, you start paying for the maintenance of the ‘Resort’. And the land-taxes.
The problems with these unrealistic developments are rarely Brazilian companies! Brazilians won’t fall for that old trick, and therefore they are usually marketed from Spain or the UK. Their representative is a collaborating agent or their lawyer.
Check Palma Do Mar, Jardim Do Mar or Oasis Do Mar, on this Forum. Millions have been stolen from foreign investors in Paraíba. Again, by European Developers, and their European 'Price-winning Portfolio Consultants' and 'Independent Lawyers'.
Why do people feel falling for these scams?
When you want to invest, and have a better chance on making money, buy something of which there is only one, or just a few, and which are in relatively great demand. E.g. paintings, rare books, a script, a vintage car, stamps, or a Patent. Or a house with an exclusive view.
