How can 1 rent? - Warning, vent thread

[astylishgirl]

I remember what a shock it was when I moved to California and they wanted first/last/security. I was a starving actress at the time and ended up staying in a grungy motel until I could get enough money for all that. Sure makes it hard.

 

[AngieChick]

We are in the midst of buying our first home, also a foreclosure, currently at the inspection point in the process. It's a buyers market in most places, so remember that getting sellers to cover some or all of the closing costs can be a great negotiating point. We didn't need to use the credit for our downpayment, but it's nice to know that we will be able to get it and have our emergency fund back. It's a great time to buy, if it makes sense in your current situation.

 

[debilorrah]

Okiron, we found someone that would take the deposit in installments. They didn;t ask for last either. 2.5 acres out here in Phelan (CA). It was a God send. Keeping lookin!!!!

 

[OlliOlliOlli]

Keep in mind too sometimes it's cheaper to buy than rent. I got my house with 0% down at closing and only pay $667/month. To rent an equivalent property would be about $900 - $1000 a month.

 

[Drafthorsegal]

Okiron - this is a good vent. Everyone has felt this way. Please, I beg you listen to the folks in this thread. BUY something! I had a great group of people cheering me on like this two years ago, and I started hunting. The market is even better now.... much much better!

A lot of banks/private/etc will wrap your closing costs into the loan so you don't have to actually pay up front. For instance, say you bought a house for 150,000 with 7,000 in closing costs. The seller (as long as it appraises for 157,000) will take 157,000 for it and give you the 7,000 cash back for your closing/title changes/fees/etc.... its done ALL THE TIME, written into the contract, and its how most people come up with the huge cost to get into a house. And the beautiful thing is, houses just go up in value. I took the chance, found a seller that helped me by doing this... and now my house, two years later, is worth almost 100,000 more than when I started. Don't settle for what you don't want. Settle for what you CAN AFFORD (even if its scary expensive/big step/lots of problems!) in the long run.... no one can afford to rent long. Be a home owner! Please! Listen to these folks.. but buy something for you... not those crazy expensive houses no one can afford


The person that suggested Norco... I love that city. Walmart has a hitching post and almost every back yard has a horse in it. Its crazy beautiful. Good suggestion!

 

[Big C]

Just remember that since this is a tax credit it has to be paid back...

 

[okiron]

Quote:
Nope, this one does not have to be paid back.

 

[pdsavage]

wow so much for rent...
ok ex sis inlaw rents a place in the country for $300 a month...her ex husband rents a small place in a place not far from there for $100 a month....

 

[tiffanyh]

I agree.....TRY to get preapproved and buy something. For $1400/month you can get a really decent mortgage-depending on where you live. The first/last/security could be a down payment instead.

BUT....from a landlord point of view, f/l/s is so very nessecary as a lot of people will ruin your apartment and skip out on last month rent. I am a young landlord but my whole family as been working with rentals for many many years, and it happens all to often. So, from a landlord standpoint it is protection so I dont pay someone elses bills.

 

[scbatz33]

Quote:
I was just thinking this. Either they charge first and last or deposit and first. I am sure it's illegal any of the states I lived into charge deposit and 1st/last.

However, the easiest solution would be to move from CA. It's cheaper over here -------->"go east young man go east"

ETA - we just moved to PA. We found a nice 4 acre place on craig's list. The folks were moving to help Ill relative. We paid no deposit and its $1400 a month, but we care for 2 of their horses for a rent reduction of $220.

We looked for several months before we found a decent place in the area we were moving to...Tough, we moved from NC where we were paying $460 a month. However, we couldn't have horses.