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What do you prefer to rent, and how does the cost compare to other options?

We rent an apartment in a nice area of a nice town. But I was talking to my friend last night about bills and such...she owns her home, and was telling me what she paid for water, electric, garbage...I pay twice what she does for these things! And in an apartment! So it made me wonder. What do (did) you rent, and what did you pay for rent and utilities?

Answer Question
 
sojourner.

Asked by sojourner. at 3:28 PM on Aug. 10, 2010 in Just for Fun

Level 11 (541 Credits)
Answers (9)
  • I prefer to purchase :o) When I did rent I only rented places that had the utilites included! :o)
    Mommy_0f_many

    Answer by Mommy_0f_many at 3:29 PM on Aug. 10, 2010

  • Mom/Many - how did you find your rentals? Newspaper, Craigslist...?
    sojourner.

    Comment by sojourner. (original poster) at 3:35 PM on Aug. 10, 2010

  • I rented for a very long time and just purchased my first home. I prefer to own. The mortgage is more than our rent was, but many of the bills are less.

    Plus we have choices now. When we rented the walls had to stay white and the gardener was included in our rent. The crappy gardener broke our patio furniture and let our dog out.... I wished I could have fired him. I think of our house as our retirement savings.... in 30 years (or less) we will own this place. I see how being homeowners has been a benefit to my grandparents in their old age....so I would rather pay my way now for the future.
    Niki_sd

    Answer by Niki_sd at 3:35 PM on Aug. 10, 2010

  • I would call the pwer company and find out why it is costing so much. Does your apartment have it's own meter? Running the AC can seriously increase an electric bill. Do you have electric heat? That can make a big difference too, if your friend has oil or gas heat in her home.
    JGRIMMER

    Answer by JGRIMMER at 3:35 PM on Aug. 10, 2010

  • I have done both. . . there are many benefits form purchasing but keep in mind you will have property taxes that will kill your bank unless you have a fixes escrow account with your mortgage. . .and even then it can vary from year to year. Renting the you pay normally more than your mortgage payment a month and most of your bills are roughly the same to higher. . . but you don't have the property taxes. . . renting your landlord is responsible to fix things. . . if you own you are responsible. . .there are a lot of trade offs. . . Owning I can make my home what I want and don't have to ask permission. . . I liked owning better than renting. . . but right now I rent. . . :(
    Kirs

    Answer by Kirs at 3:37 PM on Aug. 10, 2010

  • I've owned since I was 19, aside from a 1-year rental time when I was trying to figure out what city to live in. At any rate - there are a LOT of factors that go into what utilities will cost; size of home, type of cooling/heat, insulation, how many people live in the house and how much time they spend there, how often you do laundry ... you get the idea. Trash varies widely because of the contracts the municipalities make with the trash collection companies.

    If you want to look into buying, get a copy of the homes gas/electric bills for the last 12 months.
    Scuba

    Answer by Scuba at 3:41 PM on Aug. 10, 2010

  • Owning is the best route because when you are old your house will be all yours. my step dad has lived in the same house for 50 yrs and was paid off 20 yrs ago. he is 73, still has a good 20 yrs left in that house.
    But when we owned a house we had heated floors that weren't put on a proper meter so our electric bills were over $500 a month and our house payment was on a ARM and adjusted every month and it was always getting higher. Back in the day house payments stayed the same over the years and we weren't used to having a mortgage go from $900 to $1300 in a month's span. Owning was a nightmare for us! but it does work for most people..
    wheresthewayout

    Answer by wheresthewayout at 3:43 PM on Aug. 10, 2010

  • I prefer to own. Paying rent is just making someone else rich and I have nothing to show for my $.
    MyAngel003

    Answer by MyAngel003 at 3:48 PM on Aug. 10, 2010

  • I prefer to own.  A mortgage is an investment but rent is dead money.  The value of our home is $100,000 more than what we paid for it 11 years ago.

    beeky

    Answer by beeky at 4:12 PM on Aug. 10, 2010

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