Apartment Leasing

Maddox

Maddox

Protestant
Heritage
Seeing how the price of lumber is increasing due to mills shutting down, houses will continue to go up in value since there will be precious few new ones on the market.

And if this happens, the already high rental prices in the US will continue to increase. It seems prudent to find an apartment with a low deposit and get into a long-term lease now to freeze the price for as long as possible. And if you need to get out during that time, the small deposit you put down won't break you if you can't afford to continue due to circumstances like the coming hyperinflation.

Thoughts?
 
Maddox said:
Seeing how the price of lumber is increasing due to mills shutting down, houses will continue to go up in value since there will be precious few new ones on the market.

And if this happens, the already high rental prices in the US will continue to increase. It seems prudent to find an apartment with a low deposit and get into a long-term lease now to freeze the price for as long as possible. And if you need to get out during that time, the small deposit you put down won't break you if you can't afford to continue due to circumstances like the coming hyperinflation.

Thoughts?
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If you can do this and save yourself some money for a long term purchase I don't think its a bad idea.

Have you followed the Ramsey fundamentals?

$1000 cash
Pay Off all debt
Have 3-6 Months living expenses as a cushion


We could make this one really complicated. But that’s not our thing. Our thing is making personal finance clear and simple.

So, here are the three main points you need to remember when you’re thinking about buying a house.

  1. Don’t spend more than 25% of your monthly take-home pay on housing costs. If you get a mortgage, that means your monthly payment, PMI, property taxes, insurance and any HOA fees combined shouldn’t be more than 25%. (The same rule applies to renters—your rent and any other fees connected shouldn’t be more than 25%.)
  2. Choose a 15-year fixed-rate conventional loan if you’re going to get a mortgage. (You’ll literally save thousands overall compared to expensive FHA, VA and 30-year loans.)
  3. Save at least 20% of the home’s cost for a down payment to avoid PMI fees before you buy a house.(First-time buyers can save a smaller down payment like 5–10%—but then you will get stuck with PMI.)
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New 'SquatBNB' Service Helps Squatters Find Perfect Home To Take Over

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U.S. — A new service "SquatBNB" has launched, aimed at helping potential squatters find the home of their dreams to take over.

"Far too often, squatters take over a new home without knowing the quality of amenities provided, or difficulties dealing with the host," said SquatBNB CEO Don Carmichael. "Our service will allow squatters to read reviews from other squatters who have stayed at a property and see honest feedback about what each home has to offer. We have millions of homes on our site, ready for immediate squatting -- and the best part is, it's absolutely free!"

According to the company, SquatBNB will allow squatters to write reviews and post photos from any home they have stayed in, as well as leaving a rating for the owner of a home. "Sadly, some homeowners can be difficult to communicate with on issues like utilities, or not wanting to give up their beds for the squatters," explained Carmichael. "Homeowners who consistently provide an excellent experience for squatters get ranked as 'SuperHosts'. However, the site is as much for homeowners having their houses taken over as it is for the squatters. Owners can also leave reviews about the people squatting in their home that other hosts will be able to read. Squatters who consistently achieve good rankings will be highlighted as 'SuperSquats', which helps them get access to more luxury properties."

At publishing time, the site had reportedly crashed as the office it was run out of had been taken over by squatters.

https://babylonbee.com/news/new-squatbnb-service-helps-squatters-find-perfect-home-to-take-over
Season 9 Lol GIF by The Office
 
Maddox said:
Seeing how the price of lumber is increasing due to mills shutting down, houses will continue to go up in value since there will be precious few new ones on the market.

And if this happens, the already high rental prices in the US will continue to increase. It seems prudent to find an apartment with a low deposit and get into a long-term lease now to freeze the price for as long as possible. And if you need to get out during that time, the small deposit you put down won't break you if you can't afford to continue due to circumstances like the coming hyperinflation.

Thoughts?
Click to expand...
Seems like this is driving many folks towards do-it-yourself mini-houses or even just buying a shed and retrofitting it to live in. For a young single guy, it's honestly not a bad option.

Another route would be to work construction/framing and learn how to build your own place. A couple of experienced guys can knock out a modest house in a few months. Do most guys day jobs have a high enough salary to pay off a house in under a year? Probably not, but building it yourself can save hundreds of thousands...

Either of these are better options IMO than getting involved in apartments, because as we saw with the coof lockdowns and such, most landlords don't care about rights. Much more ideal to have your own piece of land some distance from town or city proper...
 
Northern Pilgrim said:
Seems like this is driving many folks towards do-it-yourself mini-houses or even just buying a shed and retrofitting it to live in. For a young single guy, it's honestly not a bad option.

Another route would be to work construction/framing and learn how to build your own place. A couple of experienced guys can knock out a modest house in a few months. Do most guys day jobs have a high enough salary to pay off a house in under a year? Probably not, but building it yourself can save hundreds of thousands...

Either of these are better options IMO than getting involved in apartments, because as we saw with the coof lockdowns and such, most landlords don't care about rights. Much more ideal to have your own piece of land some distance from town or city proper...
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But it was during the Covid lockdowns that some states enacted tenant rights where landlords couldn't evict them if they were unable to make their payment because of job loss due to the epidemic.

I honestly don't feel safe purchasing a house in the US anymore. Homeowners are seeing increased property taxes that make it hard to justify buying their house. And I expect this trend to get worse.
 
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