Renting Vs Buying A Home in San Diego... (What They Don't Tell You)

[@ianusher6780]

Great content guys! My wife and I are considering a move from the NYC area to San Diego in the next 1.5-2 years. Coming from an area where you have to work with a broker/agent to rent, I’ve been shocked by how many agents exclusively focus on helping clients looking to buy. Since I don’t anticipate purchasing initially, you guys just went right to the top of my list of people I’d want to talk to if/when we pull the trigger and decide to move.

[@danny_quesada]

It’s definitely a LOT different out here than other places. In my previous market, rentals served as a great way to get agents to start serving the public WHILE they built a future longstanding relationship with a potential client. I too was shocked when I moved here and realized it wasn’t a normal practice for agents to service rental clients. That’s definitely not a problem you’ll have working with us! Can’t wait to meet you!

[@ianusher6780]

@@danny_quesada That’s awesome to hear! Right back at you guys! Thanks for not only acknowledging that gap in the market, but actively working to help!

[@awesomeadamfrom2099]

Awesome job bros drop a like

[@danny_quesada]

Thanks Adam!

[@awesomeadamfrom2099]

No problem

[@SEO568]

@@danny_quesada Hi there, how are you? Although your content is excellent, it has to be optimized for search engines. Could we chat about the issues you're having with your KZbin channel and why the views and subscribers should be described as they should? the natural ways to raise it.

[@star_platinum2821]

Homeownership creates wealth, the person who owns a home will be a lot wealthier then a person who rents over the next 10 to 20 years, probably 10X wealthier

[@danny_quesada]

That’s a GREAT point…but information like this is always subject to so many different minute details that we typically try not to include it. The truth is that YES there is a chance that someone owning property will/can create generational wealth…but the way the average consumer owns and manages their real estate there isn’t too many differences between the two. This is especially true if, like the current market, you’re looking at getting into a home with a higher interest rate. COULD they become wealthier…sure…10x’s as wealthy…not without some good guidance.

[@star_platinum2821]

buy a million-dollar house that should double in 10 yrs or maybe 20, , and the guy whos renting is just investing in the stock market and the guy who does both will be way wealthier then the guy who rents, the equity in the house will be between 1.3 mil and 1.4

[@danny_quesada]

That is correct. If a homeowner were to stay in a home for 20 years (assuming a 4% annual appreciation rate) they would absolutely see an increase in equity that would be more than double. The only thing that equation doesn’t account for is the market, the economy, and a number of factors that impact a homes equity. Another 08 crash (which isn’t likely to happen, and if so, no where near as bad) would eat up a bunch of that equity. The other thing is that the average consumer moves every 5-7 years…so the appreciation would be much less than double but still more than a person that was renting. Renting however is an extremely viable option for those that can’t afford to buy INTO a specific area but still reap the benefits of living in that area. Example: moving here from SC, buying would have been extremely tough…however…being able to rent in the areas I would buy allows me to build the connections needed to make SD more affordable so that one day I could purchase. Treat both options as simple strategies to achieve what you’re looking to accomplish and there’s always going to be a way to make it happen.