Tuesday, March 18, 2008

Bitter Renters etc

I was traveling all over North America during the last couple of weeks. Too much stuff going on and too many observations. I will try to post some of these in the coming weeks. But for now, the new blog on the block’ caught my attention. The vehement bitterness along with their gratuitous mentioning of our headquarters. We took offense to the rather dilapidated structure they showed as our headquarters and decided to do something about it.

For now, we have done one thing- we are saying good bye to our current apartment and moving on to a much bigger place.

The ‘bitter renter’ part in me was getting such a sweet deal that we had to take it. We just got a brand new house (2000 square feet) in South Edmonton for a princely $1500 per month. Very similar houses are on sale in the price range of $400 to $450k.

Of course, we'll be paying someone else's mortgage, but I guess it won't be more than half of the mortgage based on the current valuations. Based on our realistic valuation metrics, we'll buy this property if it were selling for between 100 and 150 times monthly rent.

A simple buy versus rent analysis for this property shows that renting will beat 'owning' for 30 years. Feel free to plug your data here in one of the better rent/buy calculators.

Obviously, most renters these days have reasons to ask for a little bitterness- the rental deals are just too sweet.

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