$1K a month including everything except cable.
The house is probably worth $750K.
He could easily charge 30% more per month.
The cleaning lady (no pics) cleaned yesterday. Her service is included in the rent.
Last edited:
Is home ownership a huge responsibility with stuff breaking all the time and endless taxes?
- Thread starter BrianNole777
- Start date
$1K a month including everything except cable.
The house is probably worth $750K.
He could easily charge 30% more per month.
The cleaning lady (no pics) cleaned yesterday. Her service is included in the rent.
None of that except my room has 3 crucifixes in it, and my desk has a bottle of holy water plus a dozen prayer cards.
The landlord's wife may think I'm a nut.
Amazon product ASIN B09YD6NMP1
Giving anyone a grand for a living space you will never own sounds like a bad investment; but to each their own. My house payment was about 40% cheaper than that.
For investment, I use the stock market which historically has a better return than home ownership.
Where do you live?
I live near Washington D.C. in a very expensive area. The average house here is easily $800,000.
The average rental is $1,800+ per month.
Landlords don't rent to lose money. Now, in your specific case I'd assume he owns the house (no mortgage) and your rent $$ are essentially paying his property taxes, insurance, utilities, etc. so he doesn't have to.
I have to laugh when people think that an advantage to renting is that they don't have to pay property taxes. Do they honestly believe that taxes aren't accounted for when a landlord is determining the rent?
When my first marriage ended in 2008, I decided to go smaller. I moved to an 850 square foot studio loft in downtown KC. It was awesome, great place, great neighborhood, lots to do. It also caused me to get rid of all the sh!t that I wasn't using. I would do it again in a heartbeat, maybe even smaller.
My point with property taxes is a "home owner" never really owns the home since they always have to pay property taxes.
But property taxes aren't paying for your home, they're paying for infrastructure and services where it resides (fire, PD, streets, snow removal, etc.). Essentially funding the city and county governments.
Last edited:
We pay taxes and registration yearly on our paid off cars, do we not own our cars?
That's a fair question. I didn't think about it before.
I suppose the government really owns them.
What happens if you don't pay your vehicle registration and taxes?
What happens if you don't pay your rent?
I'm not sure about the car taxes. If I don't pay rent, I get evicted.
If a home owner doesn't pay property taxes, a tax lien gets put on the house then the house gets taken by the government, I think.
This is the wealth that endures.
Keep Your Focus on Building Treasures in Heaven
This pandemic shutdown is, if nothing else, a time for us to hit the “reset button” in our lives. As money and livelihoods are slipping away and diminishing, we remember that everything in this world is fleeting. As Ecclesiastes says, all is vanity! Our tenuous existence is a reminder that we...
Guess what?,.. you're paying for all of that and more,... Properly run rental properties turn a profit. Improperly run rental properties that aren't making money change hands.
If you want low-stress and can lock this rent for a really long period, I say go for it. That's a hell of a deal.
That's my plan. My landlord is 68 years old and hopefully I can live here another decade at least.
Good rent relationship, if you're able to help him out w/ minor house stuff.
Obviously, you must be a reliable renter and individual to get that setup.
Hope you have a written lease, which protects both you and him in the case of anything unusual.
The one thing I don’t understand about owning a home is why home insurance doesn’t cover a damn thing.
Nope we don’t cover that.
Nope we don’t cover that.
Nope we don’t cover that.
That will be covered but it is prorated. Here is your $20 but your premium will be going up.
We can’t cover you because we have to pay all these athletes to be in our stupid commercials.
The best way to go though is owning a home and finding people to rent a room from you.
I bought a house in my mid twenties and for about 10 years I had two roommates paying my mortgage.
The now wife had to go and ruin that gravy train as she wanted it to just be the two of us.
Nope we don’t cover that.
Nope we don’t cover that.
Nope we don’t cover that.
That will be covered but it is prorated. Here is your $20 but your premium will be going up.
We can’t cover you because we have to pay all these athletes to be in our stupid commercials.
The best way to go though is owning a home and finding people to rent a room from you.
I bought a house in my mid twenties and for about 10 years I had two roommates paying my mortgage.
The now wife had to go and ruin that gravy train as she wanted it to just be the two of us.
I don't think you would get much for $1,800. My son lives in Alexandria and pays $2500 for a tiny apartment. It's in a fairly decent complex, but I think going down to $1,800 would be a pretty crap place. For a single guy, $1k month for a nice arrangement is a great deal.
WTF are you trying to claim on homeowners insurance?
Only claim I've ever had was for a hail-damaged roof ~7 yrs ago. I don't try to nickel/dime my insurer - just like auto, home insurance is for significant damages/disasters.
Not "Oh, neighbor kid broke a window!" or "my windshield wipers need replacing!"
Water damage in the basement and water damage on one side of our house because the window wasn’t installed correctly before we moved in.
Not sure why home insurance would replace windshield wipers. But I would assume insurance should cover a broken window because of a neighbor kid.
Renting a room is a big difference, though. The "landlord" has the same expenses either way, so whatever rent they get is gravy. That's not the same as an apartment, where the landlord has fixed expenses that have to be recouped. Even if Brian was able to buy a home for $2k month (unlikely in his area), he would be way better of staying put and placing the $1k a month into savings, along with another $500 month for utilities and miscellaneous repairs.
Every situation has to be evaluated individually.
I've never encountered that. If anything, I've always been amazed at how affordable home insurance is based on the exposure the insurance company has.
Not something you want to waste insurance on.
And generally less than any deductible, anyway.
Improperly installed window probably doesn't fall under insurance, it falls to the installer.
Yeah you always have to check out which option you want to go. Do you want to pay the deductible and raise the premium or beat up the punk neighbor kid and pay for the new window.
The closest moment I ever had to a sitcom was coming home from vacation with the family one day, and as we approached the house my wife and I, just for a split second, thought we saw something on a side window. We walked into the house and saw the window was shattered, somebody had hung plastic on the outside to cover the hole, and a baseball lying in the middle of the floor. We then saw the neighbor's front door open while the mom dragged her 12-year-old son over to our front door to apologize. She then profusely apologized and told us to make sure we give the bill to her.
It was made even funnier because the kid was best friends with my son, and while she went on-and-on in her thick, Turkish accent the two boys were looking at each other while my son struggled not to laugh.
We laugh hard every time we talk about the incident.
If you make too many nitpicky claims to home insurers, they will also drop you.
