patrick.net

The government is the ultimate vampiric landlord who never goes away.

Duh!

property taxes alone make sure you never fucking own anything.

Our prop 13 that limits those taxes is constantly under assault by leftist faggots!

I hate property taxes, but they're generally not that bad in most places. Most infrastructure is handled at the city or county level via property taxes. Don't like the seizing of property, but in this case it was over $8 and the guy likely got notice. Key thing here is, don't be a dip shit and short your taxes by a couple cups of coffee.

Yeah well $3,000 a year is a hell of a lot better than $3,000 or more a month.
So I'll take my chances with the taxes.

I'm sick of this farce, owning a house has perks renting will never have. Rent is never an asset you can borrow money against,. Or to use as collateral to acquire another property or start a business. Only renters and idiots that paid Bubble prices for their houses even say this.
And btw, you can buy land that has zero public access, no municipal amenities, sewer, water, electric ect.
And your tax bill will be a whopping $0.00 a year. Your taxes, is makes sure the water runs, electric flows, and the roads are all passable.
It's cheaper than rent.

Tenpoundbass says

Rent is never an asset you can borrow money against,.

So you can never leverage your home out from under you.

Tenpoundbass says

Or to use as collateral to acquire another property or start a business.

So you have to spend money you actually have.

The point is it's an asset. Any fool that would do those things for the frivolous transaction of it. Like 90% of the HELOC's did during the bubble.
Deserves to lose their house. I've known plenty of people that leveraged their home to buy Commercial property or a business. And didn't lose anything.
A tax bill is once a year, it's mostly not that much. If you want to live where the Liberals spend so much tax dollars to put on a Socialist show. Then you'll have to help pay for that experience. It's not free. If you don't want to be a part of it, then move away. But things cost money and voting has consequences. Vote Republican.

Tenpoundbass says

The point is it's an asset.

Land yes, a rotting house no. But people often confuse the two, and I don't know too many people with no debt. Borrowing against imagined value set's a bad precedent.

Enjoy paying your rent. My house will be paid off in a few months. I'll have to pay $3000 in taxes a year. I can live with that.
I'll also have to pay for electricity, and gas for my car, and food. But I wont be paying $3000+ every month to a landlord.
And nobody can just show up and say they are here to show the place, because it's being flipped for the 3rd time I've been a tenant. Which will mean my rent will go up considerably. Been there done that.

Look up alloidial title. Start teaching yourselves about natural law/common law vs. civil code from a corporation. THIS is why you pay property taxes and never actually own the land.

Some of my relatives have no property taxes. Concept of taxes on primary residence sounds like a scam to them.

Tenpoundbass says

My house will be paid off in a few months.

Are you still planning to cancel your homeowners insurance or maybe already have? I recall you saying the rates in Florida are a rip off lately. What do they average in your area? Just curious... Might move there some day.

Tenpoundbass says

Enjoy paying your rent.

I do, and I enjoy spending my money on things other than downpayment, taxes, maintenance, and loan interest. But I have a debt aversion most don't share.

Only once in over 20 years of renting has a property ever been sold forcing us to move. And for the first time in my life, I pay 25% of my income to housing(net). Since I rent, I have control over that, as long as I'm willing to leave ridiculously priced housing markets for realistic ones.

NuttBoxer says

I do, and I enjoy spending my money on things other than downpayment, taxes, maintenance, and loan interest

You are paying the bolded, just for your landlord though. Downpayment is correct, although I'm sure there's a security deposit the landlord holds. Not a ton of money, but that could be doing something else besides sitting in their savings account.
NuttBoxer says

Only once in over 20 years of renting has a property ever been sold forcing us to move

This is the main factor that freaks me out with renting. It actually happened to me about 7 years ago. Loved where we lived and didn't want to buy at that time. Come home and there's a fucking lockbox on the door. While the place didn't sell, it was a massive amount of stress with a 2 year old and newborn. It forced our hand to buy, even though we weren't ready. Best thing to ever happen though.

We got extraordinarily lucky. Like massively lucky. Ended up buying a nicer place, a little further away than we'd like, but for $500/mo LESS than what we were renting for all in (PITI). We actually didn't put any money down and paid interest on a margin loan from a family member, so cash purchase. Refi'd a couple years later, paid them back and basically have a kick ass house for just the loan closing fees (no brokers, old man was an attorney, no inspections as I'm knowledgable). Basically I paid about $2k in closing cost and could net $120-$150k if I sold tomorrow. By the time I actually do sell, my $2k initial investment will likely turn into $300-400k (and yes, have done some updates, but still under $40k on that).

Unicorn story of course, but that can never happen with renting is my point. And it's not a knock on renting. I plan to rent a ton in retirement years. I have zero interest in maintaining that shit at 50+. While I'm young and handy though, it's worth it to own in my opinion. You also can learn other skills you may not have by renting.

I love my paid off house. No more rent at $2000-3000/mo. Sure it's not as flexible as renting, but in the last 3 years, my homes gone up $100k.

I rented for 10 years. Never again.

Maintenance I don't worry about as I kept the home warranty (that has saved me a few grand), and I do most things myself. Insurance and property taxes run around $3k/yr.

just_dregalicious says

Are you still planning to cancel your homeowners insurance or maybe already have?

You God Damned right I am. The 2017 Huricane damaged my flat roof which is rolled off from my main roof. The insurance company tried to give me a $500 patch job on my flat roof. I had to get a good roofer that knew the code and the laws, to fight for me to get my whole roof replaced. It took over a year and half. My Insurance is up to almost $5,000 now. Just imagine 5 years of not paying a premium, instead putting it in a savings account. I would have the $25K it took to replace my whole roof, I would have gotten it replaced the next week. Now I'm worried about the wood in the rafters and other structural issues that may arise in the future because the the process too so fucking long. They demand pronto payments from us, but getting payment for damage can lead to more damage that you're responsible for. Next damn time, I'll have a roofer out at my house the next day. Fuck the insurance company. I could buy another house with just putting 20 years of premiums in the bank. That money will be all mine. Premiums are NOT!
Unless you got a structure that requires 100's of thousands or millions to repair hurricane damage. You would have to be a moron to buy insurance on a house you own outright.

Tenpoundbass says

Unless you got a structure that requires 100's of thousands or millions to repair hurricane damage. You would have to be a moron to buy insurance on a house you own outright.

Which is why they call it insurance and not repair prepayment plan. I have a high deductible plan (5K) but I only pay 1400 / year for it. I don’t plan on making many claims, but will be glad I have it if my house burns down.

It’s the same with term life insurance. I don’t have life insurance because I think I’m likely to die in the next 20 years. If I was betting I would bet that I would live. But just in case I lose that bet and I die (or my house burns down) I’m glad I have the insurance.

Fortwaynemobile says

Some of my relatives have no property taxes. Concept of taxes on primary residence sounds like a scam to them.

How is this possible?

Tenpoundbass says

The insurance company tried to give me a $500 patch job on my flat roof.

Asshoes! I had a similar offer from USAA (hail damage) and I had to threaten to take a large amount of money out of one of their banks before they came through.

ignoreme says

Fortwaynemobile says

Some of my relatives have no property taxes. Concept of taxes on primary residence sounds like a scam to them.

How is this possible?

It's not if they own anything. I thought the same thing. Maybe FW can clarify what he meant?

WookieMan says

ignoreme says

Fortwaynemobile says

Some of my relatives have no property taxes. Concept of taxes on primary residence sounds like a scam to them.

How is this possible?

It's not if they own anything. I thought the same thing. Maybe FW can clarify what he meant?

Maybe he has relatives in UK. Or Russia.

ignoreme says

Fortwaynemobile says

Some of my relatives have no property taxes. Concept of taxes on primary residence sounds like a scam to them.

How is this possible?

I can not track it down now, but I recall seeing on TV in 90's that there is a county in rural WI that does not assess property taxes on primary residence.

ignoreme says

Which is why they call it insurance and not repair prepayment plan. I

This is why they get away with everything they do. There's no shortage of people that honestly believes it's their God given right to be fucked in the Ass by the Insurance companies with a huge knobby Dildo.

I wasn't in need of a repair repayment. I was need of the roof replacement that my Premiums have gone up every fucking Year for the last Ten Years that I have owned my house. They say it's because I live in an area where I'm prone to Hurricanes. And if one struck my house, and I needed a new roof, they would replace it. Not take a year and half to do so. I had to fight like hell to get it done.

I would have been more than happy to have not rocked the boat, if Premiums were just a few hundred a year, like it always was before Liberals got so blood thirsty greedy for every fucking penny on the planet. If premiums were a few hundred a year. but it was understood if you file a claim your premiums will jump. Then perhaps I would have just paid it all out of pocket. As I would have put the rest of the $5,000 in the bank for such purposes. But because Foreign thieving fraudulent Cock suckers come here and take advantage of every thing we offer. Americans were honest and didn't pull shit, the foreign idiots that hate American came over and gamed defrauded everything. Rather than arresting them and sending their stinking asses back, they punish the rest of us with high premiums. It's thievery. I hope like Fuck I can squeeze an even bigger claim before I dump them. I would love to get it all back that I gave them over the last 10 years. Greedy mother fuckers.

ForcedTQ says

Look up alloidial title. Start teaching yourselves about natural law/common law vs. civil code from a corporation. THIS is why you pay property taxes and never actually own the land.

Why even bother with learning about allodial title? Do you know ANYONE who has allodial title to their home? ANYONE?

Generally it's nicer to own than to rent; the trick is how good a rental arrangement you have is highly variable. I have been lucky sometimes and so I've liked it sometimes.

I also tried to have a housemate and share the bills; the key was always investing that dough and anything I saved from my employment or side gigs etc.

My neighbor pays $18,000/year property tax; my neighbor on the other side has a tiny place and her property tax is about $8,000/year.

The fly in the ointment is there are about 15 homeless camping out just 200+ yards down the street.

I like owning investments but of course to cash them out and have money in my greedy fists I will also pay a tax EXCEPT for my Roth IRA (for now at least).

When I am in Baja Sur Mexico visiting I stay in a cheap hotel which is a lot of fun and it costs just the same as the HOA fees where I lived in S. Florida.

clambo says

The fly in the ointment is there are about 15 homeless camping out just 200+ yards down the street.

I'm currently renting in SD and there are no less than 30 illegals on the corner about 1000 yards down the road every morning when I head out to work. This is a reasonably nice suburban area (one of the Ranchos) as well. Sometimes when I'm late I start getting pissed when it's hard to get out because of cars/trucks blocking the road whilst trying to pick them up like they are prostitutes.

In hindsight, I'm glad I bought. It took persistence and a little bit of luck bit I found a place to meet my needs as well as my budget....

Yes property taxes are high but so is rent, which has also escalated over the past eight years. The rent vs. buy equation is different for everyone.

Next step is paying this off early. I tip my hat to those who have done it already. I have a 30yr loan but paying it off as if it were a 15, so I'm about halfway there. As much as I could cut back on going out and throw a bit more at the mortgage, I dont live just to pay the man... taxes nonwithstanding...