And anyway, The Big Short is a great movie.
House vs apartment
- Thread starter theromantrs
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I know that landlords bake in some prices sometimes such as utilities so figured this may be a good place to ask a question I've always wondered about. I know places that are more drought-prone tend to have higher water costs. If you don't mind telling what is a typical water bill if you live in one of these areas. By me water is typically included in a rent, but I would assume that it isn't for places that it is expensive. For example, I own my place but I only pay about $10 a month in water bills for 3 people in a household. I would imagine if it is included in rent vs not that could vastly change the rates, or others that are included as well.
In my long experience as a renter, any time our apartment's water has been on its own meter, the bill was in our name. If it was a shared meter, it was in the landlord's name. Either way, you can be sure our earned wages paid the bill.
I was asking because, especially if utilities are high, a landlord could bake in an exorbitant amount to the rent and make it seem even higher, and pocket the difference month to month if there is any. I wouldn't think that would be illegal but would be one more way that owning is cheaper. You only pay what you would actually use across all utilities.
FloppyKnockers
Well-Known Member
Squatting is pretty cheap. No long-term commitments, no deposits, nothing down. You do have to live without electricity and running water though. Everything has its pros and cons.
SoCal, so it's definitely drought prone. 1200 sq ft. 2 adults full time, and three kids about 40%. We only irrigate the front lawn, not the backyard.
Prior to the worst of the drought, we were running a little over $40/mo. Rates went up more recently and now it's typically a little over $80/mo.
Hoping that comes back down after all the rain. But it's California, so I'm not counting on it.
I'll say own because in an apartment the neighbors are way to close. I like people and all, but not where I can hear them breath. LOL 
Lee0110
Member
I have lived both there and there, so I will briefly describe what I think, I won't write about all the pros and cons.
As for houses, there are several pros: houses typically offer more privacy than apartments, they usually offer more space than apartments and they lead to a profitable investment if the property is sold later on. Cons: homeowners are responsible for maintaining their properties, which can be time-consuming and expensive, houses are typically more expensive than apartments, and of course, houses are often located in suburban or rural areas, which can lead to power outages in my experience (perhaps this is not such a problem if you buy a generator e.g. generac.)
As for apartment pros: many apartments offer amenities like gyms, pools, or common spaces that would be expensive or impractical to have in a house, and apartment living typically requires less maintenance than owning a house. As for cons: apartments often have shared walls or common spaces which can lead to noise and renters may face restrictions on things like pets or decorating.
As for houses, there are several pros: houses typically offer more privacy than apartments, they usually offer more space than apartments and they lead to a profitable investment if the property is sold later on. Cons: homeowners are responsible for maintaining their properties, which can be time-consuming and expensive, houses are typically more expensive than apartments, and of course, houses are often located in suburban or rural areas, which can lead to power outages in my experience (perhaps this is not such a problem if you buy a generator e.g. generac.)
As for apartment pros: many apartments offer amenities like gyms, pools, or common spaces that would be expensive or impractical to have in a house, and apartment living typically requires less maintenance than owning a house. As for cons: apartments often have shared walls or common spaces which can lead to noise and renters may face restrictions on things like pets or decorating.
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Also a big con for apartments are the fees required for those amenities. Sometimes those fees can be pretty significant. Especially because those fees are a monthly expense but they're NOT wealth-building or equity-building in the same way that a higher mortgage or a smaller mortgage and making improvements to a property would be.
I wouldn't say that I've had a lot of problems with power outages, or that they're more prevalent in houses. And where I've lived is basically suburban sprawl as far as the eye can see. It might be more problematic in rural areas, but I don't think it's as much of an issue in suburban areas.
