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I'm a renter and not afraid to admit it. We signed a 6 mos lease here in Ainaloa and after 6 mos we are going to evaluate whether we want to buy here in Puna or head into Hilo Town. The 6 mos comes up in Jan. and we are leaning to buy.(In Puna) The thing that "kills" us is the drive. Not so bad but when going to school, work, shopping, etc. driving into Hilo can get a bit old.
Anyway, by 2020 or whatever timeframe, the Big Island will be under the control of coqui's, with them enslaving the pigs and roosters to do their dirty work. They will be roasting haoles and locals alike in emu's and making poi out of everyone's blood. That's what I think will be happening in 2020. :0
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quote:
I'm a renter and not afraid to admit it.
Me too. Owned a home and several lots for 17 years, decided to cash out during the ridiculous run-up, and will most likely hop back into ownership once prices settle dowwwwwn a bit more.
Though I gotta say, I'm not exactly in a hurry. I'm finding there's whole lot to be said for renting. All of a sudden I have sooooo much more time (and expendible income) to do just-plain-fun-stuff than I ever did before. House/yard maintenance does kinda take its toll after awhile.
As for what people will be paying for rent zillions of years down the line? Pretty much the same as what their landlords are paying on their mortgages.
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"Get your hands off me you stinking APE !!!"
I want the war with the monkies to hurry up and start. I say the rent will be 20 bananas.
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quote:
I say the rent will be 20 bananas.
I'm planting more bananas...NOW!
"What? Me Worry?" - Alfred E. Nueman
"Vote with your money!"
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Maybe we can get the jump on Soilent Green crackers?!
Carrie
"In through a doorway she brings me
White gold and pearls stolen from the sea..." U2
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quote:
I'm a renter and not afraid to admit it....
Me too! For two reasons right now - Lots in Kapoho are still too expensive (except yours John Dirgo! That is definately a sweet deal for someone @ under $95K!) and when the big tsunami/lava flow comes this way this house will be someone else's problem. Also being a weather snob and havign lived up the hill and also up the coast and Kona side - my two fav spots are Puako and Kapoho.
The second reason is I live with a builder - think the shoemakers children are barefoot!! ha ha I REFUSE TO LIVE IN A TENT FOR 5 years!! ha ha
Catherine Dumond
Blue Water Project Management
808 217-7578
http://bluewaterpm.125mb.com/index.html
"We help make building your dream home a reality"
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I'm a renter AND an owner. I'm going to rent on the island for a while until this whole sub prime mortgage thingy blows over and people can get mortgages again.... In the meantime, I still have my house on the mainland.
Course in 2020 it won't matter because we'll all be living on the moon, or on Mars, just like they predicted in the 50's....
"How do you know i am mad?" said Alice.
"You must be," said the cat "or you wouldnt have come here."
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In asking this question, I just wanted to know if rents will ever equal my mortgage payment.
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The days of positive cash-flow rentals on the east side of the island are gone, and I don't expect them to return for a very long time. There will always be exceptions, of course (for example, not long ago there was a cheap condo in the Puueo area in Hilo that could have had positive cash flow, but that was an unusual thing). But for the most part, rents will be lower than mortgage unless you made a pretty good down payment. Maybe by 2020...
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.hawaiirealproperty.com
Edited by - jdirgo on 10/15/2007 15:22:24
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The pro/con of renting or owning are somewhat different if one is contemplating buying a property to rent to others. It is quite possible that after consideration of net rent, paper depreciation on the property and actual maintenance costs, one might show a tax loss and a cash profit. Not mentioning that historically/long term property tends to increase in value with regard to eventual selling price. Now if you're buying to live in the property, that's a horse of a different color! That said, I'd agree with the previous post "I HATE to pay someone else's mortgage!"
