Opportunity Cost of Time Looking To Buy?

i suspect that a lot of people on these boards do it for enjoyment...kind of like suggesting working more instead of going to the movies...plus, i am quite confused by your analyis....do you really think that people who get paid $500K a year are punching a clock?

not having a job, nor looking for one at the moment, the analysis is lost on me. my time is very valuable, but (un)fortunately, I'm the only one who thinks so (maybe my family, once in a while, and definitely the dog).

>> do you really think that people who get paid $500K a year are punching a clock?

As I said, it's a rough approximation. You could argue someone making that money has less free time so their time is worth even more costly.

It's not supposed to be a bulletproof analysis... just a thought or reality check for all the over analyzers.

hobby (häb′ē)
noun pl. hobbies -·bies
Something that one likes to do or study in one's spare time; favorite pastime or avocation.

You can technically only charge yourself for the time if you had the opportunity to work those hours at your hourly average rate? No one ever told me, come in this weekend if you want another 2/7th of your weekly comp in this periods paycheck.

OCD (Obsessive Compulsive Disorder)

Familiar?
This is what I do to take a break from work. This little hobby will, with some luck, deliver to me a real find. Luck is the residue of design. You do your homework, you collect your prizes...
It's fun, relaxing, informative and, if your not too creepy folks on the site give you honest heartfelt advice.
As for a reality check, this site is way cheaper than therapy and about equally helpful, minus the drugs.

Taking care of the kids and reading the New Yorker & a book/week - still have some brain cycles left. Also, I'm a voyeur at heart, love to check out other people's living situations.

OP, you must have a lot of time on your hands.....

Seriously though you should also consider the oppty cost of (frantically) searching for a new apt every year or two or so if you rent in your rent vs. buy calc. And the cost/time involved to pack, move, etc.

Buying a home is - well, you're home. Typically a long term investment. Like anything in life (vacation, relationship, getting into shape), if you really want it you'll make the time.

i'm not even looking to buy. and i've been in my rental for 5 years and could stay indefinitely, so not much opportunity cost there. just love real estate, as a concept and as a market.

1)
>>You can technically only charge yourself for the time if you had the opportunity to work those hours at your hourly average rate? No one ever told me, come in this weekend if you want another 2/7th of your weekly comp in this periods paycheck.

I agree, but you could start an income producing business on the side. Or possibly do free lance consulting work. (I said could.)

2) I never said it was a BAD hobby, after all it would appear to be my hobby as well... but that doesn't mean hobbies don't "cost" money or time.

wow...let it go.

>> Seriously though you should also consider the oppty cost of (frantically) searching for a new apt every year or two or so if you rent in your rent vs. buy calc. And the cost/time involved to pack, move, etc.

That was precisely my point to all the over analysis. Nothing more, nothing less.

ok...now you're officially a member of the thought police. you're so busy that you have all the time in the world to criticize other people for posting here and enjoying themselves. brilliant.

I was poking fun at how silly some other threads were getting in their over analysis.

Just trying to give you some more analysis to run with some of the other calculations you're making.

columbiacounty
>>> what about real estate taxes. minimal over 30 years? what about repairs to the building? minimal over 30 years? what about the need to move? most people stay in the same place for 30 years?

aifamm - as West81st pointed out, there are many people who simply enjoy browsing real estate. I assume those who do not enjoy the endeavor who are SERIOUSLY looking to buy (different category from many SE posters) will hire someone to look on their behalf (i.e. hire a broker to weed things out). Many just don't have the time (my husband, for example) to spend hours a day looking at real estate (both online and in person). If, for example, my dear hubby was responsible for finding our next home, I can guarantee someone would be hired for the task. Luckily, I have time (costly or not) and I enjoy looking (beats dusting).

i think aifamm is just interested in us maximizing our wealth. slacking off isn't going to get this market back up off the ground, people, get out there and make some money.

Nah I was just trying to bait some certain people into doing more over-analysis, but it didn't work. Oh well. Let the eternal buy vs rent debates rage on unabated.

"I was just trying to bait certain people?"

charming.

I don't think it holds much value to analyze it -- the cost of time looking to buy -- except for the poor guy who has a partner that requires him to go on every shopping spree whether it be to Loehmann's or an open house. I'm sure he thinks about his time. So is that you?

What about the time it takes to own? Forget just paying for the maintenance and such, the tax filings, the replacing of appliances when they break (not just the cost, I'm talking the time), the insurance, etc.

"What about the time it takes to own? Forget just paying for the maintenance and such, the tax filings, the replacing of appliances when they break (not just the cost, I'm talking the time), the insurance, etc."

I don't know - maintenance and payments can easily be set up automatically; appliances break in rentals as well. How does any of this take more time because you own?