Focus and F-150

[mechanicx]

Originally Posted By: kam327
Originally Posted By: Quattro Pete
Originally Posted By: mechanicx
Of course real estate can be a rip off too especially during a bubble.

Not to mention the real estate taxes that you have to pay when owning. I could have been renting a small apartment for what I'm paying in real estate taxes alone. Add on top of that all the maintenance and repairs that you need on the house. If you rent - it's the landlord's problem.


In my area rent is about the same or more than a mortgage payment including real estate taxes. Was paying $1850 to rent a house (while we got to know the area), now paying $1750 to own a larger, newer home. Plus I bought a forclosure and am now way in the black.


Now is the time to buy, especially a fixerupper in a good neighborhood.


That's what I'm saying. Usually when you rent housing it's not even like leasing a car where at least the monthly payment can be lower. Your rent is usually high enough to pay the mortgage, property tax, upkeep (that the landlords generally rarely do anyway) and a little extra. Plus landlords like to raise the rent every year and make you sign a 12 month lease so it's not like you can move all that easily. And you have to put up with a landlord and maybe other tenets which oftentimes is almost like having a boss and coworkers. Meanwhile after you've payed rent for 15 or more years, you own nothing so you keep paying full price unlike when a mortgage is paid off.

 

[Mr Nice]

But in 5 years you need a career and be on your own hopefully with a family.

 

[jigen]

Seems priorities differ from one person to another.

 

[daves87rs]

Two things here:

1. Congrats Nick on the Focus. I think this one will stick around, depending on the trans issues. I wanted one (and a hatch), but I've still seen issues with the DCT, just not as bad as before.... Mine are narrowed down to simple two :Civic LX or Cruze LS. We'll see...


2. Regardless of what others say about living at home, I'd do it anyways. Just remember to use to get ahead. Besides, I'm sure most parents don't mind the help anyways...times are tough, and the chance to be able to save is huge...

 

[itguy08]

Originally Posted By: mechanicx
Meanwhile after you've payed rent for 15 or more years, you own nothing so you keep paying full price unlike when a mortgage is paid off.


Why is "owning something" that will need constant repairs and maintenance, may not appreciate much in value to get what you put into it out, and is subject to destruction at any time a good thing?

Yes, I'm a homeowner but I seriously doubt the financial sense of it all.

If you do the #'s in what you pay in interest, taxes, upkeep, and time, I think you'd find that you will never really get your $$ out of it. Interest alone over 15 years adds almost 50% to the purchase price. Then there's closing costs and other [censored] fees, taxes every year, etc. And then that's hoping you don't get hit with costly repairs: A/C, Heat, Roof, basement, etc.

Add up every little thing you've done to your house, include interest and taxes, a little for your time and you'll see a house is a money pit.

 

[KrisZ]

Originally Posted By: itguy08
Originally Posted By: mechanicx
Meanwhile after you've payed rent for 15 or more years, you own nothing so you keep paying full price unlike when a mortgage is paid off.


Why is "owning something" that will need constant repairs and maintenance, may not appreciate much in value to get what you put into it out, and is subject to destruction at any time a good thing?

Yes, I'm a homeowner but I seriously doubt the financial sense of it all.

If you do the #'s in what you pay in interest, taxes, upkeep, and time, I think you'd find that you will never really get your $$ out of it. Interest alone over 15 years adds almost 50% to the purchase price. Then there's closing costs and other [censored] fees, taxes every year, etc. And then that's hoping you don't get hit with costly repairs: A/C, Heat, Roof, basement, etc.

Add up every little thing you've done to your house, include interest and taxes, a little for your time and you'll see a house is a money pit.


If you do it smart, like few of my co-workers and my plan is to follow their lead, you work to become a landlord and rent out your house, while you move to the next one. One guy I work with has three houses and a condo. He lives in one house while two other houses and the condo are rented out. That guy truly is "the next door millionaire". He drives a 12 year old Camry and you would never tell he's got money.

 

[cptbarkey]

Originally Posted By: KrisZ
Originally Posted By: itguy08
Originally Posted By: mechanicx
Meanwhile after you've payed rent for 15 or more years, you own nothing so you keep paying full price unlike when a mortgage is paid off.


Why is "owning something" that will need constant repairs and maintenance, may not appreciate much in value to get what you put into it out, and is subject to destruction at any time a good thing?

Yes, I'm a homeowner but I seriously doubt the financial sense of it all.

If you do the #'s in what you pay in interest, taxes, upkeep, and time, I think you'd find that you will never really get your $$ out of it. Interest alone over 15 years adds almost 50% to the purchase price. Then there's closing costs and other [censored] fees, taxes every year, etc. And then that's hoping you don't get hit with costly repairs: A/C, Heat, Roof, basement, etc.

Add up every little thing you've done to your house, include interest and taxes, a little for your time and you'll see a house is a money pit.


If you do it smart, like few of my co-workers and my plan is to follow their lead, you work to become a landlord and rent out your house, while you move to the next one. One guy I work with has three houses and a condo. He lives in one house while two other houses and the condo are rented out. That guy truly is "the next door millionaire". He drives a 12 year old Camry and you would never tell he's got money.


i can see someone owning 3 houses, renting all 3 of them out, and barely breaking even. its all about marketing timing, which nobody, and i mean nobody is an expert.

 

[KrisZ]

Originally Posted By: cptbarkey
i can see someone owning 3 houses, renting all 3 of them out, and barely breaking even. its all about marketing timing, which nobody, and i mean nobody is an expert.


You have to accept a certain amount of risk involved and do whatever you can to minimize it. Some luck and the right timing plays a role, sometime a huge role, but trust me, my co-worker doesn't rely on luck. Every decision is done with a calculator and he would never get into renting if he did not make money on it. But it's not for every one, that's for sure.

 

[rationull]

Originally Posted By: KrisZ

If you do it smart, like few of my co-workers and my plan is to follow their lead, you work to become a landlord and rent out your house, while you move to the next one. One guy I work with has three houses and a condo. He lives in one house while two other houses and the condo are rented out. That guy truly is "the next door millionaire". He drives a 12 year old Camry and you would never tell he's got money.


Sounds like a part time job. I can see this argument for someone who is actually interested in being a landlord (as opposed to spending their time and making their money in other ways) but that seems kind of far away from the "own vs rent" debate that is just focused on having a place to live (in this context of this thread). Personally I think I agree with mechanicx's position.

 

[Nick R]

First day off since I got it, so here are some pics, as well as a video or two. I do these since I feel like the photos available online are lacking. I do this for every car for that reason.

Anyway, it's a little dirty because it has 370 miles on it and I haven't washed it yet. But here ya go.

Sitting behind myself

[URL]http://i266.photobucket.com/albums/ii279/rudolphna/2013foc[/URL]

[IMG]http://i266.photobucket.com/albums/ii279/rudolphna/2013focus/IMG_3436_zps93a6ecad.jpg

160HP 2.0L GDI I4

There are are actually two belts. One for the WP, Alternator, and Tensioner, and one for the A/C compressor. Didn't know this before.

 

[Nick R]

The windshield wipers are different. They open outwards, but also are high tech. they don't have a linkage. they each have a Bosch actuator and are smart. If you move them, they will automatically reset back to the normal position. Pretty neat.






And for those who wonder what it's like to drive a DCT in stop and go, here is a video I took driving the circle around the neighborhood. Starts and stops are smooth, and creeping doesn't feel any different from a normal auto.

 

[surfstar]

Holy Shiite - for an economy car that thing has lots of buttons/options! Guess I'll get something like that one day - maybe another 5 years or so.

Nice ride!

 

[Vikas]

I saw two "OK" buttons on the steering wheel plus at least one more on the dash! Ford seems to have gone nuts with the cursor keys on this model.

 

[mechanicx]

Originally Posted By: itguy08
Originally Posted By: mechanicx
Meanwhile after you've payed rent for 15 or more years, you own nothing so you keep paying full price unlike when a mortgage is paid off.


Why is "owning something" that will need constant repairs and maintenance, may not appreciate much in value to get what you put into it out, and is subject to destruction at any time a good thing?

Yes, I'm a homeowner but I seriously doubt the financial sense of it all.

If you do the #'s in what you pay in interest, taxes, upkeep, and time, I think you'd find that you will never really get your $$ out of it. Interest alone over 15 years adds almost 50% to the purchase price. Then there's closing costs and other [censored] fees, taxes every year, etc. And then that's hoping you don't get hit with costly repairs: A/C, Heat, Roof, basement, etc.

Add up every little thing you've done to your house, include interest and taxes, a little for your time and you'll see a house is a money pit.


I just stated why renting isn't a good deal and you snipped all that out. Again typically when you rent a house you are paying the equivalent of the mortgage, property tax and upkeep anyway. Do you really think people are renting out house at a loss? The only difference, with renting you never stop basically paying the mortgage and the rent continuously gets increased. I never said you were going to recoup all your money anytime you buy a house. But what value do you have after paying rent for 15-30 years?

Anyway, I don't want to continue contributing to taking the thread off topic. Nice looking car, Nick.

 

[Quattro Pete]

Neat little car. Are you planning to get winter tires for it?

 

[jigen]

Are you a bigger dude? Leg room looks a little cramped but headroom seems nice. Definitely dig the styling on the new Focus. The sedan grew on me.

 

[rationull]

Nick, thanks for posting decent sized pictures, especially the various "detail" pictures. You're right, pictures like this are lacking online and it's always nice to see what various vehicles are like.

Looks like a nice car and I'll look forward to hearing your impressions as you get used to it.

 

[kam327]

Originally Posted By: jigen
Are you a bigger dude? Leg room looks a little cramped but headroom seems nice. Definitely dig the styling on the new Focus. The sedan grew on me.


One of the Focus's disadvantages is rear seat legroom. On the smaller side for its class. The new Sentra is supposed to have more legroom than ANY Nissan product in North America. I sat in one at the mall and the back seat is quite huge if that's your top priority.

 

[kam327]

Originally Posted By: Vikas
I saw two "OK" buttons on the steering wheel plus at least one more on the dash! Ford seems to have gone nuts with the cursor keys on this model.


It's actually necessary because the buttons on the left side of the wheel control the center dash 4.3" LCD screen, with all your trip and car info, and the buttons on the right side of the wheel control the center stack 4.3" LCD which displays all your entertainment / communicaton info. Works very well in practice.

 

[kam327]

Originally Posted By: itguy08
If you do the #'s in what you pay in interest, taxes, upkeep, and time, I think you'd find that you will never really get your $$ out of it. Interest alone over 15 years adds almost 50% to the purchase price. Then there's closing costs and other [censored] fees, taxes every year, etc. And then that's hoping you don't get hit with costly repairs: A/C, Heat, Roof, basement, etc.


You're forgetting (or omitting) the most important thing. While you're paying for all that other stuff, you're also paying off the principle. Like thousands of dollars a year. If you finance $200k @4% / 30 years, you're paying $950 a month. But after 10 years you've paid $43,000 towards principle. So if you sell in 10 years for what you paid for it now (unlikely it wouldn't have gained value in 10 years), you'll still pocket $43,000. If you had rented the same house those 10 years, you'll pocket nothing.