If we have to go by just finances, most of us who bought a house have been sucked into biggest scam ever.  Renting is cheaper (generally) than mortgage + maintenance + ridiculous taxes (specially NJ).

Do you really believe that most landlords operate at a loss?

Do you really believe that most landlords operate at a loss?

Depends on timing of purchase, location, how stressed the property was, how much they value their time (doing maintenance etc), management style, and bunch of other things.  

 

In my location, I would come out better by renting, all things considered. 

 

We are not talking about landlords here, are we ?. We are talking about regular Joe owning a piece of land / property vs renting. 

 

Given a choice of renting a cabin for couple of weeks for $200 vs spending $500 in taxes a year, I will take the later. Thats all. 

Actually even primitive cabin rentals START at $99 a night and are very small. So for a 5 night stay I can own my own and its much larger and I can act like a huge ahole without someone telling me to settle down! Theres been plenty of nights where we would come home from the bar around 3 am and just start shooting fireworks. Or light a bonfire and crank the tunes way up. Dont try that in a campground.  

They don't make moar dirt. But toxic things like crime can kill dirt. Economy can flatten dirt for a spell. Location and sprawl can blossom the remotest patches of dirt.

 

Plus, it's a write off

Actually even primitive cabin rentals START at $99 a night and are very small. So for a 5 night stay I can own my own and its much larger and I can act like a huge ahole without someone telling me to settle down! Theres been plenty of nights where we would come home from the bar around 3 am and just start shooting fireworks. Or light a bonfire and crank the tunes way up. Dont try that in a campground.

Settle down!

Settle down!

HAHA, youll see when we go camping ;} And I totally forgot about my tax savings I claim at the end of every year. 

Plus, it's a write off

Land is not depreciable, but I like where you're going.

While I get that you're joking, the wife and I want to start looking at land in north west NC. I'd like some acres and privacy, but the thought crosses my mind that in some places northerners, and sometimes just anyone not from there, are outsiders and not welcome.

Being on the other way around...moving from the South to the North, I have experienced some 'interesting' reactions from people up here.

 

Id say the BEST thing you can do when you move south is not to mention things like 'this is how we did things up north, and it worked out SO much better....

Or call your new neighbors (as a few people up here referred to me) as an 'uncultured redneck'.

 

If you refrain from those things, you should be ok.

 

I am somewhat joking, of course....well, a little, anyways....

Seriously... who knew we had so many mountain men in NJ? Sheesh. I'm with you, Old Glock Guy... indoor plumbing is not "optional".

In NJ it's required, or its not an inhabitable dwelling. Hot water as well. Other states do things differently lol.

Pfft,

Gary foster bud

https://youtu.be/_MfawHIMmYI

Love Lynch!

Actually even primitive cabin rentals START at $99 a night and are very small. So for a 5 night stay I can own my own and its much larger and I can act like a huge ahole without someone telling me to settle down! Theres been plenty of nights where we would come home from the bar around 3 am and just start shooting fireworks. Or light a bonfire and crank the tunes way up. Dont try that in a campground.  

I don't think so. You can stay at Red Roof for $39-59, as I have on many occasions. Look for "hunting cabin for rent" and pick the grungiest one, no heat or plumbing, I doubt it would be $100 for a weekend.

What does red roof inn have to do with a cabin? Also who wants to stay at a grungy cabin? Look a cabin in campgrounds. For a basic cabin with no electricity or plumbing it's usually at least $100 a night.

1. Land cost - $20,000

2. Yearly taxes - $500

3. Take a leak, anywhere you want, under glorious light of full moon - Priceless

I would look a little further north than 1 hr. There's cheap and remote stuff by the westernmost edge of the border with NY. You can certainly shoot up there. Heck, shoot into NY. Sometimes I look at Jersey from my buddy's place and want to shoot into it.

In NJ it's required, or its not an inhabitable dwelling. Hot water as well. Other states do things differently lol.

Cite please? By that standard, all the cabins at Boy Scout camp should be condemned.

Cite please? By that standard, all the cabins at Boy Scout camp should be condemned.

They're not permanent dwellings. They're camps, and they have sanitation facilities on site, that must be operating while anyone is camping there. Nor is a camp zoned as permanent residential property.

 

Any permanent residential dwelling in NJ must have plumbing, including either city sewer or a private septic for that building, as well as water from a city source, a private well, or you can actually use a stream, river, or lake that's in the code. There also must be one fully functional bathroom with light and ventilation, one working toilet, a lavatory sink, and either a tub/shower or a stand up shower no smaller than 900sq inches. There must also be one kitchen sink. And there has to be hot water. Or the building doesn't get a CO.

 

Also a building that has a CO, that at some point no longer meets these minimum requirements can have that CO revoked until the requirements are met. The code enforcement official can put a big red sticker on the door, and it's no longer inhabitable. Until the building meets code.

 

 

But again this is only NJ, other states have different rules, codes, and laws.

 

 

Here is the cite from the 2015 version of the adopted NJ version of the National Standard Plumbing Code. It's in the basic principles chapter at the beginning of the code book. This book is adopted as NJ law.

 

 

 

If we have to go by just finances, most of us who bought a house have been sucked into biggest scam ever.  Renting is cheaper (generally) than mortgage + maintenance + ridiculous taxes (specially NJ). 

 

But there is more to it than just finances. Some of us value the feeling of ownership, however imagined that may be, more than others.  To each his/her own. 

 

And who want to derail this thread into "Can I legally take my firearms to a temporary rental cabin to blow some steam in the back" ?

I'm not a real estate fag but in most of the country that I'm familiar with you'd be wrong.

 

My highest mortage+taxes ever was a tad over $1400/month. We now pay only about $700/month in taxes. Figure another $300 a month for expenses. BTW landlords don't give electric and fuel oil away for free.

 

We would have approximately broken even at the beginning but no way I could rent a place like this for $1000 a month today, even $2000.

 

Plus it's my place. I've done a lot of work around here, a good deal of it myself. Didn't have to ask anyone's permission to build a stone path between my veggie garden and flower bed, to install a fence, to paint the upstairs. I never had to beg a landlord to please call the oil company because the heat was down. That's worth something. 

 

And the best part is that when I sell, even if I give it away (houses have not appreciated much in my town), I'll get a very nice chunk of change. 

 

The main reason for renting being cost effective relative to buying is if you're one of those individuals who takes out a home equity loan every other year to buy a car or go to Hawaii. I know people like that, who after 20 or 25 years are still mortgaged to the hilt. God bless 'em.

What does red roof inn have to do with a cabin? Also who wants to stay at a grungy cabin? Look a cabin in campgrounds. For a basic cabin with no electricity or plumbing it's usually at least $100 a night.

I have no actual evidence to this point but numbers seem to fall out of your rectal cavity with the ease of castor oil-induced diarrhea. My point was why would anyone pay $100 a night to stay in a place with no plumbing or electricity. Unless it was the end of the f-ing world.

 

No plumbing, with electric: https://www.airbnb.com/rooms/8220951

Damn places in Pennsy: http://www.dcnr.state.pa.us/stateparks/staythenight/cabins/index.htm?tab=Prices

"Primitive" cabins all over the damn state of Vagina: http://www.patc.net/App_Themes/PublicView/docs/PATC/Cabins/Cabin%20Rates%2012-2016.pdf

Jesus Christ did I not say campground! As far as #s falling out of my a$$, here's the closest campground near me, and there ain't even anything around it.http://www.abcamping.com/jellystonenj/rates_cabins.php

What does red roof inn have to do with a cabin? Also who wants to stay at a grungy cabin? Look a cabin in campgrounds. For a basic cabin with no electricity or plumbing it's usually at least $100 a night.

He's on a roll just go with it.

Yes, renting is certainly cheaper than owning in the short term, and I CANNOT STAND when people say "renting is throwing money away," because that is an asinine position to take.

 

But if you can actually afford the costs of your mortgage + taxes + maintenance + etc., and you stay in the same place and pay it off in a timely manner, it certainly does pay to own in the long term. But make no mistake, it takes quite a while for the investment to be worth it. Coincidentally, my parents are making their final house payment this week, and now they own a home that's valued in the high $300k's free and clear.

 

The problems start when people buy a home they can't afford, and don't stay in their homes long term. I'm 27 and will rent for the foreseeable future because it does have value to a certain degree, but the goal is certainly to eventually own once I'm confident I can afford it and know I probably won't be leaving. Whether that's around here or somewhere else remains to be seen.

I can agree only if short term means like under 5 years. Renting a decent size home usually costs at least $1200 to way more. I pay that for my mortgage, taxes, and insurance. I've lived in my he for 13 years and I'm ready to sell. I owe $98k and my he is worth around $160k. So if I rented this entire time I would have nothing to show for it where as when I go to sell whatever equity I have will go toward a down payment on my next home.

While it is true in some instances renting a house may be cheaper than buying the same house.

You are paying the owners investment.