It shouldn't go up because of Prop 13. I bought my condo next to Mission Bay for 60k in 1990. Now it is over 800k, and I am still paying under 2k a year in property tax. The fixed charge assessment for the school district, fire/paramedic, etc. is bigger than the actual property tax.
The same with our current house. We were able to transfer the tax rate from our old house because my wife is over 55 when we sold our old house. We pay around 3,692.36 on a property that's assessed for 1.2M. The actual property tax is 2,600, the extra 1,000 is for community college, mosquito surveillance, vector disease control, fire/paramedic, water standby charge, water availability, etc. Yes, I am actually reading my tax bill.
I love Prop 13.
Last edited by Rasulis; 2017-11-29 at 05:22 AM.
I plan to own when I can afford it, which probably won't be anytime soon.
"I was a normal baby for 30 seconds, then ninjas stole my mamma" - Deadpool
"so what do we do?" "well jack, you stand there and say 'gee rocket raccoon I'm so glad you brought that Unfeasibly large cannon with you..' and i go like this BRAKKA BRAKKA BRAKKA" - Rocket Raccoon
FC: 3437-3046-3552
Yeah, Adam hits the nail. Inb4 owners in denial.
All right, gentleperchildren, let's review. The year is 2024 - that's two-zero-two-four, as in the 21st Century's perfect vision - and I am sorry to say the world has become a pussy-whipped, Brady Bunch version of itself, run by a bunch of still-masked clots ridden infertile senile sissies who want the Last Ukrainian to die so they can get on with the War on China, with some middle-eastern genocide on the side
No dude. We are not talking about business here. If you want to be a landlord - of course you need to OWN (even though it's not requried you can rent what you rent)
We are talking about what's better for living. Owning or Renting. As in you buy a house to live in, not to rent out. So no, no one will pay your mortgage but you.
All right, gentleperchildren, let's review. The year is 2024 - that's two-zero-two-four, as in the 21st Century's perfect vision - and I am sorry to say the world has become a pussy-whipped, Brady Bunch version of itself, run by a bunch of still-masked clots ridden infertile senile sissies who want the Last Ukrainian to die so they can get on with the War on China, with some middle-eastern genocide on the side
All right, gentleperchildren, let's review. The year is 2024 - that's two-zero-two-four, as in the 21st Century's perfect vision - and I am sorry to say the world has become a pussy-whipped, Brady Bunch version of itself, run by a bunch of still-masked clots ridden infertile senile sissies who want the Last Ukrainian to die so they can get on with the War on China, with some middle-eastern genocide on the side
When you leave your apartment you get nothing except, possibly, a security deposit back. When I sell my house I'm looking to get at LEAST 100k of cash (after paying off my mortgage). Yes, I've put a lot of money into it but not much more than i would have put into an apartment. Most of the time buying is the much better option.
All right, gentleperchildren, let's review. The year is 2024 - that's two-zero-two-four, as in the 21st Century's perfect vision - and I am sorry to say the world has become a pussy-whipped, Brady Bunch version of itself, run by a bunch of still-masked clots ridden infertile senile sissies who want the Last Ukrainian to die so they can get on with the War on China, with some middle-eastern genocide on the side
Watch Adam's video, he explains what you get by renting compared to mortgage. And if your sister wants to pay rent then it's ok, I retract my disrespect. But now you cannot claim that she will pay your mortgage. You are both will be paying mortgage for the house you will be both living in. it's the same as if it was you alone, you just pooled resources with your sis. You could as easily have rented.
The only way it's better to own is if you want to run a business.
All right, gentleperchildren, let's review. The year is 2024 - that's two-zero-two-four, as in the 21st Century's perfect vision - and I am sorry to say the world has become a pussy-whipped, Brady Bunch version of itself, run by a bunch of still-masked clots ridden infertile senile sissies who want the Last Ukrainian to die so they can get on with the War on China, with some middle-eastern genocide on the side
He covers that. He says that for the next 30 years you won't be building equity, you will be paying interest. And even if you get lucky and your house will be worth 400k when you are 55. Whatcha gonna do with it? You will LIVE IN IT. So it's not really 400k. It's just you can get 400k if you sell it. But a new house will cost even MORE, at that time. And that's if you are lucky and there would be no housing bubble 2.0.
Is it really so good to know that it costs 400k but not being able to cash in because you kinda need it as a house? When you checkout in this life your possessions becomes other's people possessions.
What Adam and I are saying is, you anchor yourself to a specific place for ~30 years, you pay as much money as renting for 30 years, and you end up with less money in your bank account (which you also could've put into work you know) than if you rented and moved around for better jobs.
So what I will have at 55? More money than you, which I will be able to SPEND, hell maybe I will even BUY a house at full price, at 55 I wouldn't really need a job - so a relatively cheap area will do in some quite town and I will have enough money left to live till the bitter end.
All right, gentleperchildren, let's review. The year is 2024 - that's two-zero-two-four, as in the 21st Century's perfect vision - and I am sorry to say the world has become a pussy-whipped, Brady Bunch version of itself, run by a bunch of still-masked clots ridden infertile senile sissies who want the Last Ukrainian to die so they can get on with the War on China, with some middle-eastern genocide on the side