Buying vs. Renting

[Safia Starchild]

Hi, 

I apologize if this has already been asked and answered a million times.  But I am in need of some additional land.  I already have 1024 sqm with my Premium Linden account but am out of prims.

What is the "main" difference between buying land verses renting it?  It's my understanding that you have to pay a weekly or monthly tier either way.  So, does one typically come with more prims than the other, or why the difference?

Thanks,
Safi

 

 

Edited August 12, 2022 by Safia Starchild

[Sylvia Tamalyn]

You could conceivably get more prims for the same sized parcel by renting on a private region, but you could do the same on Mainland that is double prim (Bay City, Horizons, part of Zindra, and Nautilus. Maybe more that I'm not remembering at the moment.)

If you are Premium and use that 1024 allowance to buy Mainland, and you own no other land or contribute no land allowance to any groups, then the only payment you will make after the initial land purchase is for that Premium account itself. If you rent, then yes, you will be paying regular payments to the land owner, but you wouldn't need to have a Premium account for that. 

Since you are asking specifically about prims, then the bottom line is that you will have more options to choose from if you rent. 

Edited August 12, 2022 by Sylvia Tamalyn

[Wulfie Reanimator]

Practically speaking, renting is more flexible, even if it's not always cheaper.

You don't have to rent for a full month, and you don't risk overpaying if you make the common mistake of owning too much land for a few moments, which would cause you to get charged more for that whole month even if you abandoned the extra land within minutes.

You can also pay your rent with just lindens, but you have to pay USD to LL for your land tier. That can be a huge difference depending on how you fund your SL.

Edited August 12, 2022 by Wulfie Reanimator

[Spiffy Voxel]

I recently switched from owning a 2048 square metre plot over in the south of Sansara to renting a plot of the same size over on Nautilus. Not only do I get more land allowance to play with, but I also get a reduction on the rental cost if I pay for a month or more in advance. Plus, I no longer have to pay land tier fees to Linden Lab, so the cost overall to me is pretty reasonable now.

Obviously, your situation will be different, and ultimately it comes down to balancing cost against location and features. In some cases, the area you're interested in may already have been bought for rental, so that'll force your choice somewhat. If you're not in need of access to roads, waterways, railway or airports – and you're a Premium or Premium Plus member — you can check out the Land Auctions. If you already have a Mainland space and need more room, and there's abandoned land next to yours, you can ask Linden Lab for some of that — you'll pay L$1 per square metre if your offer is accepted.

The main difference between buying and renting land is that the latter doesn't require a paid SL account and there are no land tier fees to pay, as the rental agency pays those.

[Prokofy Neva]

16 hours ago, Safia Starchild said:

Hi, 

I apologize if this has already been asked and answered a million times.  But I am in need of some additional land.  I already have 1024 sqm with my Premium Linden account but am out of prims.

What is the "main" difference between buying land verses renting it?  It's my understanding that you have to pay a weekly or monthly tier either way.  So, does one typically come with more prims than the other, or why the difference?

Thanks,
Safi

 

 

It's almost always cheaper to rent than to buy, because to buy Mainland you need both the monthly paymment of a premium account of $11.99/month plus the payment of the level of tier (amount of square meters of land) you wish to have, whereas with renting, you are just paying one amount, usually less than what you yourself would pay as an individual, as the rental company will have a bulk discount and/or the 10% boost in tier available from grouped land and other savings of economy.

[diamond Marchant]

The answer to this question depends upon how long you will be there, where you want to be, how much land you want, and how much upfront cash you can spend. So it's not simple. However, the absolute least expensive way to roll for those wanting a home for a year is to purchase an annual Premium membership and take a 1024 Linden Home (less than a US buck a week after stipend).

[Marianne Little]

I am renting double prims in Bay City.

It is a bliss. Buying property that is Double Prims cost terribly much. I used to own Mainland, but the tier paid to Linden Lab has got 25% VAT on top of it, so it is not an option anymore. It is not LL's fault of course, but the situation is what it is. We can not avoid taxes.

The landlord I rent from has some 2048m parcels and also a few 4096m. For 4096m, I pay 1500L weekly and can enjoy 2812 Li.

You could use your Premium to get a Linden Home in Bellisseria and also rent if you wish. If you need a break from SL, you can just pack up and sent the landlord an IM or notecard that you will not renew the rent.

Edited August 12, 2022 by Marianne Little

[Teresa Firelight]

On 8/12/2022 at 12:06 AM, Wulfie Reanimator said:

Practically speaking, renting is more flexible, even if it's not always cheaper.

You don't have to rent for a full month, and you don't risk overpaying if you make the common mistake of owning too much land for a few moments, which would cause you to get charged more for that whole month even if you abandoned the extra land within minutes.

You can also pay your rent with just lindens, but you have to pay USD to LL for your land tier. That can be a huge difference depending on how you fund your SL.

Actually, you can use Lindens to pay for your tier... you convert Lindens to cash but leave it in your account instead of withdrawing it. The billing software will first use the cash in the account and then use your payment method (credit card, paypal, etc) for the rest if there wasn't enough cash to cover the whole tier.

[Quistess Alpha]

18 minutes ago, Teresa Firelight said:

Actually, you can use Lindens to pay for your tier...

I think the point was that converting currencies incurs fees which make it 'more expensive' than paying in a currency that is more accessible to you for various SL/RL factors.

[brodiac90]

One thing that hasn't been pointed out is security. If you rent you're beholden to your land lord who can kick you out or return all your things (including no copy items) at a moment's notice. Buying land or Premium/Plus means you are only beholden to the Labs themselves. It really depends on what you value and your financial situation. 

For me, Premium works really well. I get a houseboat with access to the sea and as a UK resident I don't have to buy lindens anymore which normally means exchanging pounds to dollars, and then dollars to linden dollars, incurring lots of charges along the way. 

 

Edited August 15, 2022 by brodiac90

[Hymn Celestia]

On 8/11/2022 at 9:47 PM, Safia Starchild said:

why the difference?

Along with everybody else's informative responses, the answer to this little question is the same as anywhere else that offers buying or renting options: the difference is in the initial outlay of money (and the permissions required for doing what you want with the property).   You potentially pay a lot up front to buy a mainland property that has sufficient prim allowance for your needs, and then a little each month in tier (and enjoy doing largely as you please with your land, subject only to the rules of Second Life); or you pay a little up front to rent a property somewhere that has sufficient prim allowance for your needs and continue paying weekly or monthly rent (and are subject to your landlord's covenant rules about what you can do with your land). 

[Chic Aeon]

I have probably rented and "bought" (private lands) fifty different times during my almost 15 years.  I currently rent a full homestead for ARTSCAPE and have half a mainland sim with a friend and pay him monthly (in lindens) for my half of the tier and taxes.   I have also had many parcels of various sizes from 512 to quarter sims as well as full sims in the past.

In my mind the only reason to buy mainland ...  well I really can't think of one. Yes, you can do anything but you can easily end up with neighbors from hell, breedable farms and nightclubs  next door with horrible FPS (lag).  And then you have to sell to move.  

If you don't want to be in Belli then "I" think folks are better off renting -- carefully of course and look at the rules.  Most of us know to pay not much more than a week ahead (I pay monthly on my tiny plot in Babbage but I am there to be supportive of Babbage :D).   

You also need to factor in the price of premium or premium plus which USE to work out at something like $2 US a month -- but no longer.  If you haven't HAD land before then I would certainly say to rent first. You can even rent mainland and I have done that many times. This would get you a feel of living on the mainland. It IS different.  LOL

[Teresa Firelight]

I found another reason to rent... there are some really neat places in mainland.. amazing places like Mount Campion National Forest, for example. It is so beautiful there and I love it there... As it happens they do rent lots from small inexpensive campsites to midsized cabins to large mountain homes.  I own a few Belli homes and a Horizons parcel as well.... so technically I have no reason to rent anything.... BUT.. it is SO beautiful there and I love spending time there and it is nice to have a campsite to launch my exploration of that massive beautiful park from.

So one reason to Rent... you REALLY like the place and it is not something you can create on your own.

[Teresa Firelight]

Speaking of Mount Campion National Forest, if you fall in love with the park (which is really easy to do) and would like to rent a spot there, they have a rental office with a caspervend board that shows the currently available spots:  http://maps.secondlife.com/secondlife/Campion/109/89/285

(the green board is spots inside that park and the blue board is spots in a sister park. Personally I recommend the green board spots, and at the moment of posting there are 3 of them: one campsite, one log cabin and one mountain house.)

[NevaehHeartstrings]

Premium+ gets you 4096 land with 1400 prims. pay Yearly fee upfront and just $13 dollars a month tier fee to lab. 

To me it is better to pay direct to linden's and have full control over land.

You can get a full flat squire 4096 on one of the mainlands for as low as $L1500 if you do not care about ground level looks and just live in the sky. These deals come up often sometimes as cheap as $L500

[Elena Blossom]

On 8/25/2022 at 11:48 AM, NevaehHeartstrings said:

Premium+ gets you 4096 land with 1400 prims. pay Yearly fee upfront and just $13 dollars a month tier fee to lab. 

 

I think it is just 2048sqm  

[Exavor Diesel]

Renting can also give you easier/more affordable access to highly desirable parcels in areas where land prices are typically very high to buy outright. For example, a double prim 1024 sqm. parcel in Nautilus City recently sold in excess of L$200k on auction and is now rented to a tenant for L$600 per week.

Edited August 27, 2022 by Exavor Diesel

[Teresa Firelight]

On 8/25/2022 at 2:48 AM, NevaehHeartstrings said:

Premium+ gets you 4096 land with 1400 prims. pay Yearly fee upfront and just $13 dollars a month tier fee to lab. 

To me it is better to pay direct to linden's and have full control over land.

You can get a full flat squire 4096 on one of the mainlands for as low as $L1500 if you do not care about ground level looks and just live in the sky. These deals come up often sometimes as cheap as $L500

 

On 8/26/2022 at 4:07 AM, Elena Core said:

I think it is just 2048sqm  

 Elena you are both right. Nevaeh was saying that if you pay Premium Plus and an additional $13 USD a month, you can get 4096 SQM.

You are saying that the "free" allowance for Premium Plus is 2048 SQM.

Both of you are right!

[Rowan Amore]

22 hours ago, Exavor Diesel said:

Renting can also give you easier/more affordable access to highly desirable parcels in areas where land prices are typically very high to buy outright. For example, a double prim 1024 sqm. parcel in Nautilus City recently sold in excess of L$200k on auction and is now rented to a tenant for L$600 per week.

There's a double prim lot next to me on Horizons.  1024 renting for just over 400L.  Kind of a steal.

[WereBeast Alpha]

I rather buy to be honest to make it my own private island to use for myself lol. i am not good at decorating though. 

[UnilWay SpiritWeaver]

On 8/11/2022 at 6:47 PM, Safia Starchild said:

What is the "main" difference between buying land verses renting it?

For me historically the biggest issue was payment systems. Mainland auto bills me for my tier. Every single time I have rented on an estate I have managed to forget to log in on that one week where the meter went to 0 and lost my spot.

That noted, other risks:

Mainland: somebody can rez something shockingly horrible next to you and if it's not a TOS issue, you get to move. This can be something objectionable or is can just be so low quality it annoys you to no end... The only rules are the TOS. Enforcement is by filing a ticket and waiting.

Linden Home: You're stuck with that home and it's way of handling things. For me, I hate having anything on my screen that I need to click, and Linden Home doors only work by clicking them (I like to use doors that open when you bump into them). That noted - the build quality is high, and the rules are there. If the rules don't bother you, this option is great. That said they do not police the rules, they wait for people to tell them something is up, and then they investigate. There are simply not enough Linden workers for them to play 'beat cop'.

Estate: The rules are whatever the estate holder wants them to be that second. Likewise the land, the builds, and even your right to access it. Pay in advance and get kicked out? Too bad. Renting on a wonderfully designed river, lake, urban street, or other theme - 5 seconds from now it could be a giant mesh genital prop and sex-camping chairs and you WILL like it. While I've not had a silly example like that, I have had a radical theme change on me with no notice. One 'genre' when I logged out, another when I logged in the next day. The only rule on Estate land is there are no rules. Even the rules written in the covenant are not really there - if the estate owner changes their mind, "they have always had that new opinion citizen, your memory is in error."