Re: Rent to buy arrangements (Dick Margulis + Betty Grant)
From: Sharon Villines (sharonsharonvillines.com)
Date: Tue, 25 Sep 2018 14:32:24 -0700 (PDT)
On Sep 24, 2018, at 9:26 AM, Gary Leib/US/RI/02809 via Cohousing-L <cohousing-l 
[at] cohousing.org> wrote:

> PS   Dick is correct that ownership is better, but only if your state gives 
> big subsidies for first time home buyers.  Connecticut gave a big grant to 
> Rocky Corner from a state bond issue. Other states are not able to do that,  
> or are not as generous.

Actually financial planners/advisors don’t believe that owning is better than 
renting. It depends on your circumstances. I suspect it is because they think 
investing the money is a better use of it. For the person who is living on 
paychecks and not saving even 10% of their income, it may be questionable. 
Equity can be more profitable than other investment options, plus it provides 
the feeling of being permanent. And the stability of having a monthly housing 
cost that doesn’t keep rising.

Over my objections, my son has always rented and will never own. He likes to 
call the landlord to have things fixed, and to know that he can move when he 
wants to. And always live in new construction that grows with his family.

Repeated information — Rocky Corner hired a financial advisor who specializes 
in real estate and helped them find a number of options they would never have 
been able to find or much less navigate.

Sharon
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org




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