"The Worst Room" is a hilarious and depressing Tumblr blog focusing on the sad state of rentals in New York and beyond. This listing, via Dallas Craigslist, is especially sad.

“The Worst Room” is a hilarious and depressing Tumblr blog focusing on the sad state of rentals in New York and beyond. This listing, via Dallas Craigslist, is especially sad.

I stumbled across this sad, sad Tumblr blog not too long ago and completely forgot about it. It’s the blog of a New Yorker who was going through the depressing task of finding a suitable rental in the city that wasn’t a dungeon, a closet, or a tent in the backyard of a derelict Brooklyn Brownstone (they’ve seen it all!). It’s somewhat in the vein of Terrible Real Estate Agent Photos, which we love.

And then someone sent me a Facebook message pointing me to a post about a Dallas room for rent, offered by a “single Hispanic man” who prefers a female. While this is a one-bedroom apartment, don’t worry, you won’t be sharing rooms. He’s offering up his unfurnished living room because, hey, he’s not using it right now. If you have $300, this empty living room has some things going for it, including a window and access to the outdoors.

Sounds perfect and not sketchy at all!

Property For Rent

To rent or buy. This is a topic swirling among my 30-something friends and seems to be in constant discussion.

Based on a brief survey CandysDirt.com conducted on a group of 25 to 40 year olds, results showed that 25 to 30 year olds are significantly more likely to rent compared to any other age group surveyed. This information provided me with a resounding “duh.” This age group is made up primarily of college graduates and young adults just starting out. As one renter put it, I’m a “recent college graduate who makes below poverty level.” Which is shown by 40 percent of our renters paying less than $1,000 a month in rent.

Other reasons people choose to rent include:

  • Lower-than-average rental rates
  • Mobility, or plans to move for various reasons
  • You are in an astoundingly expensive housing market such as Malibu or Breckenridge

The downsides of renting begin with the security deposit. Although most are returned after the contract has ended, it is out-of-pocket money. The yearly costs of rent and renter’s insurance also stack up the price. Opportunity costs can put renters behind when they eventually go for their first home purchase since they haven’t been building credit and investing in a property.

0420_price-reduced-house-sale-sign_485x340

But what about FHA loans? Won’t that help renters get some momentum with the more conventional loan process? Yes and no. Down payments with a FHA can be as high as 10 percent, which is still difficult for our under 35 group. These loans also prove more difficult when it comes to choosing a home for purchase. The limitations on the maximum purchase price have made it more difficult for some buyers to even qualify in more expensive housing markets, or highly sought-after ones such as the Park Cities.

According to our survey, 35-40 year olds are twice as likely to buy rather than rent, that is, if they can qualify for a loan. September 2013 data from Zillow, reports that three out of 10 Americans are unlikely to qualify for mortgages. Typically, the better mortgage rates are kept for borrowers with credit scores of 740 or higher. Only around 40 percent of Americans fall into that category.

On the flip-side, if you’re able to secure a mortgage and purchase your home, the yearly costs, including maintenance and improvement, can be substantial. Wait, you have a new job and need to move? Now to sell your home. People who use a Realtor will pay as much as 10 percent of the selling price in costs associated with selling. Let’s add on the cost of the inspection and a pre-sale facelift. Have out your calculator? Relocation costs, and exactly how long will you be sitting on that home of yours?

Regardless of age, 55 percent of those surveyed are putting their money into a home as an investment rather than renting. Owning provides more stability and an opportunity to accrue equity. Of those surveyed, most responded that they would rather put their time and money into a home that is theirs. An obvious conclusion. As a 30-something myself, I am not at all surprised by the narrow gap. Renting provides more flexibility for entrepreneurs, families with small children, and frequent travellers or jet-setters.

Renting may seem to be a waste of money to some, but there can be lower maintenance required as well as a welcome tax break. With loan qualifications like they are, some would love to buy but just aren’t able to. Renting becomes one of the only option and also requires less commitment.

Of course, you could always move in with your parents …

photo (26)Candace Tharp is a real estate-obsessed former food writer who has blogged about tacos, cupcakes, and haute cuisine before joining the team at CandysDirt.com. Have an interesting story to share? Contact her at candacetharp@hotmail.com.

Routh Living

Commuting to Uptown can be such a bear! Ain’t nobody got time for that!

If you’re tired of spending half of your day battling traffic, spending oodles on gas, then consider moving into this fabulous two-story condo in the heart of Turtle Creek. At 3500 Routh Street Unit #5 you’ll find an impeccably updated, artfully redone condo with two bedrooms, one and a half baths, and almost 900 square feet.

Routh Dining

I love the details in this place, including the cool lighting and wood installation on the staircase wall. Very chic and modern! The kitchen is updated with granite and stainless steel, and opens via bypass doors to the cute little patio — a great place to entertain friends!

Routh Kitchen

The master bedrooms opens to a great little balcony, a wonderful little spot to enjoy cool evenings. The second bedroom is just big enough for a guest room or maybe even an office if you’re prone to taking your work home with you.

Routh Master

It’s priced pretty well, too, considering the location. You can rent this beauty today with LocalDwelling.com for just $1,650 a month. Interested? Contact Local Dwelling agent Jason Lucas for the details!

Routh Patio

Gaston Front

Talk about walkable! This fabulous condo/townhome — 6107 Gaston Ave. Unit A, near La Vista — is great for anyone who wants to ditch their car for everyday errands. While it still has a two-car garage, you’ll probably be biking or walking to the restaurants and shopping just down the block in the Lakewood Shopping Center, as well as the Lakewood Whole Foods. There are some fantastic bars and businesses, too, just over on Skillman and La Vista, including the recently relocated Mecca.

Gaston Living

And if you think living this close to White Rock Lake and downtown Dallas and hoardes of great shops is going to cost you an arm and a leg, think again. This townhome has hardwood floors, more than 1,000 square feet, two bedrooms, one and a half baths, and you can rent it today for $1,200 a month! What a bargain!

Gaston Kitchen

This is a great area for a single mom with a school-aged kid, too. You’re in the Lakewood attendance zone, with award-winning Woodrow Wilson High School. And you’re within a short walk of Swiss Avenue — a popular walking track for families. There are also some great private schools nearby if that’s more your speed.

Gaston Master

For relaxing, there’s a private patio just large enough for a bistro table or conversation set. And thanks to the lovely windows in this unit, you’ll get plenty of light! Interested? Contact Jason Lucas at LocalDwelling.com.

Gaston Front

Talk about walkable! This fabulous condo/townhome — 6107 Gaston Ave. Unit A, near La Vista — is great for anyone who wants to ditch their car for everyday errands. While it still has a two-car garage, you’ll probably be biking or walking to the restaurants and shopping just down the block in the Lakewood Shopping Center, as well as the Lakewood Whole Foods. There are some fantastic bars and businesses, too, just over on Skillman and La Vista, including the recently relocated Mecca.

Gaston Living

And if you think living this close to White Rock Lake and downtown Dallas and hoardes of great shops is going to cost you an arm and a leg, think again. This townhome has hardwood floors, more than 1,000 square feet, two bedrooms, one and a half baths, and you can rent it today for $1,200 a month! What a bargain!

Gaston Kitchen

This is a great area for a single mom with a school-aged kid, too. You’re in the Lakewood attendance zone, with award-winning Woodrow Wilson High School. And you’re within a short walk of Swiss Avenue — a popular walking track for families. There are also some great private schools nearby if that’s more your speed.

Gaston Master

For relaxing, there’s a private patio just large enough for a bistro table or conversation set. And thanks to the lovely windows in this unit, you’ll get plenty of light! Interested? Contact Jason Lucas at LocalDwelling.com.

5542 Longview Front

Demand is high and prices for rentals are usually higher in the Lower Greenville area. Why? It’s practically party central! It’s where the M Streets and much of Vickery Park goes to get down. There are restaurants, entertainment, bars, and lovely homes with tree-lined streets and fabulous neighbors.

At 5542 Longview Dr., you’re within walking distance of Dallas institutions such as the Granada Theater, Gloria’s, Aw Shucks, and many more fabulous restaurants. You’re super close to Glencoe Park, too, and it’s a straight shot to North Central Expressway. This is also a sought-after area for SMU undergrad and graduate students and young professionals who are new to the region.

5542 Longview Porch

So color me surprised that you can find a 975-square-foot, two-bedroom, one-bath duplex in Lower Greenville for just $1,100. That’s such a steal! Duplexes are ideal properties for renters who want more privacy than an apartment but don’t want all of the responsibility of renting a single-family home.

5542 Longview Living

This duplex is adorable, too. You’ll love the front porch, a perfect spot to sip and nosh with neighbors! This is also a pet-friendly rental, so Fido and Felix will feel at home, too. There are hardwood floors throughout, and the second bedrooms is a great size for an office.

5542 Longview bedroom

You get washer and dryer connections, and this unit comes with appliances. Sound like your cup of tea? Get in touch with Jason Lucas at LocalDwelling.com.

5542 Longview Front

Demand is high and prices for rentals are usually higher in the Lower Greenville area. Why? It’s practically party central! It’s where the M Streets and much of Vickery Park goes to get down. There are restaurants, entertainment, bars, and lovely homes with tree-lined streets and fabulous neighbors.

At 5542 Longview Dr., you’re within walking distance of Dallas institutions such as the Granada Theater, Gloria’s, Aw Shucks, and many more fabulous restaurants. You’re super close to Glencoe Park, too, and it’s a straight shot to North Central Expressway. This is also a sought-after area for SMU undergrad and graduate students and young professionals who are new to the region.

5542 Longview Porch

So color me surprised that you can find a 975-square-foot, two-bedroom, one-bath duplex in Lower Greenville for just $1,100. That’s such a steal! Duplexes are ideal properties for renters who want more privacy than an apartment but don’t want all of the responsibility of renting a single-family home.

5542 Longview Living

This duplex is adorable, too. You’ll love the front porch, a perfect spot to sip and nosh with neighbors! This is also a pet-friendly rental, so Fido and Felix will feel at home, too. There are hardwood floors throughout, and the second bedrooms is a great size for an office.

5542 Longview bedroom

You get washer and dryer connections, and this unit comes with appliances. Sound like your cup of tea? Get in touch with Jason Lucas at LocalDwelling.com.

Timber Park Front

It’s pretty rare to see a single-family home rental with a pool. It’s even rarer to find one in excellent condition with tons of great features that’s perfect for a family who wants to try out a new area.

Timber Park Living

Thanks to Jason Lucas at LocalDwelling.com, this Flower Mound four-bedroom is a great deal for any renter at $1,995 a month. With 5426 Timber Park Drive you get 2,028 square feet, two bathrooms, a two-car garage, and a pool that is just perfect for cooling off when the summer starts to fry your delicate sensibilities!

Timber Park Kitchen

Other things to love about this home: Theres’s a gas range in the kitchen, a really cool free-standing fireplace that separates the living and dining areas, a five-piece bath in the master suite, and great schools. There’s an open floor plan, too, which is great for entertaining and keeping an eye on your kids!

Timber Park Master Bath

There’s only one turn-off for me, and that’s the carpet in the master bathroom. That’s a real head-scratcher, there.

Sounds like your kind of house? You can apply online at LocalDwelling.com.