I'm 27 and have about 20K in savings and I'm not even thinking about buying a home yet.
What is every guy in here obsessed with having their homes paid away before 35 ?
I could not careless as for now, I don't want to spend the next 20 years slaving away for the bank (Until you have paid your loan, the house belong to your bank).
I'am not a marriedcoper and have no kids so why should I buy a big home with garage when I could just rent a two bedroom appartement at a moderate rent and save the rest until my life perspectives change and pay 80% of the cost of my future house upfront ?
|
-
09-03-2017, 01:21 PM #1
What's with the misc obsession with home ownership ?
-
09-03-2017, 01:22 PM #2
-
09-03-2017, 01:26 PM #3
16 years to go boyo and the house is mine huehuehuehuhe
Formerly HandBrah, LipBrah & FootBrah
they call me Don Taters
NYM
<3 Miami Dolphins
WE GONNA WIN THE FUKING SUPERBOWL SOON BAYBEH
Hala Madrid
££££££sports betting crew££££££
This is all OJ's fault
Ass cheeks are the titties of the ass
First I romance the pie maker, then I romance the pie
-
09-03-2017, 01:26 PM #4
-
-
09-03-2017, 01:29 PM #5
-
09-03-2017, 01:29 PM #6
-
09-03-2017, 01:29 PM #7
-
09-03-2017, 01:29 PM #8
-
-
09-03-2017, 01:30 PM #9
-
09-03-2017, 01:35 PM #10
-
09-03-2017, 01:41 PM #11
-
09-03-2017, 01:44 PM #12
-
-
09-03-2017, 01:45 PM #13
You're always paying for someone's home ownership. Your rent money is paying the owner's mortgage. If you rent, it's a rational approach to pay the least amount possible so you can save as many $$$$ as you can and put down a gigantus deposit on your own place. This would give you a healthy chunk of ownership from the get-go, giving you access to better borrowing conditions and equity to leverage should other opportunities arise. The ideal would be to buy outright. As Felix Dennis said in his book 'How to Get Rich', the secret to wealth boils down to ownership.
This can be a suitable approach for the UK (where property is typically a good investment ... not always, as it's about location, property in question, timing and ultimately price paid / amount borrowed). May not be a suitable approach for elsewhere.
This is not financial advice, buyer beware
-
09-03-2017, 01:46 PM #14
Looks like we have some George Clooney, jet setting, young bachelors on our hands.
In my area the rent is almost as much as my mortgage. I already live in one of the most desirable job markets in the country and I dont have to plans on moving far.
If anything I keep building equity and have a nice house and a huge yard. I bought 3 years ago and I could make 80k on it if I sold right now.
Treat it as an investment and buy smart and it will work out great.
Or I could live in a ****ty $1000 a month apartment with no privacy and keep throwing money into thin air.
-
09-03-2017, 01:47 PM #15
-
09-03-2017, 01:51 PM #16
-
-
09-03-2017, 01:52 PM #17
-
09-03-2017, 01:52 PM #18
-
09-03-2017, 01:53 PM #19
-
09-03-2017, 01:54 PM #20
-
-
09-03-2017, 02:02 PM #21
- Join Date: Dec 2002
- Location: Merseyside, The North, United Kingdom (Great Britain)
- Posts: 23,492
- Rep Power: 346291
People who rent are mentally ill and need electroconvulsive therapy. Blows my mind how people literally cannot see that purchasing a house is an investment whilst renting is like setting your money on fire every month.
Euthanasia or sterilization should be standard for people who rent.fist yourself
-
09-03-2017, 02:02 PM #22
- Join Date: Jul 2009
- Location: Portland, Oregon, United States
- Posts: 82,077
- Rep Power: 590707
You're either living with housemates or loud neighbors stomping around while you're trying to sleep
Or you're paying double renting a house
When I pay my house off soon I'll have zero concern about losing my job or whatever since my effective rent will be 200 a month
Plus the thing has appreciated 100k in 4 years
But yeah, if you enjoy getting cucked by landlords raising rent, walking around in your living space whenever they want and stealing your deposits, you go right ahead
That all being said, people buying right now at the top are dumb af.Make Europe Germany Again
-
09-03-2017, 02:04 PM #23
-
09-03-2017, 02:07 PM #24
But who was property value appreciation?
READ THIS: You know how your Visa gift cards usually end up with $0.63 left on them, so then you carry them around for months before you eventually just throw them away? Well, Tarck's here to tell you that most charities have a PayPal link on their website where you can quickly donate that balance (even if you don't have a PayPal account). It only takes a moment and it beats literally throwing money away. Thanks for your time; we now return to your regularly scheduled cuckold and FA threads.
-
-
09-03-2017, 02:08 PM #25
-
09-03-2017, 02:10 PM #26
-
09-03-2017, 02:16 PM #27
-
09-03-2017, 02:17 PM #28
In Arizona, the average property taxes are $2600 on a $200,000 house. That's $216/month in property tax, and comparable rent would probably be $1400ish assuming it's a 3/2. That's a big difference. Even with other repairs, insurance, etc. I don't see where you'd be breaking even. You'd be ahead in most cases.
-
-
09-03-2017, 02:20 PM #29
-
09-03-2017, 02:21 PM #30
Thats just an excuse, nothing is absolute. You could have a house paid off anywhere and the County decides they need tear down houses in your vicinity for a greater good (like a highway).
Your situation is different since you actually save money. The average rentcel spends $1000 a month on a 1 bedroom and can't fathom owning anything bigger than their small ass apartment because they can barely afford where they are right now, or they blow all their savings every weekend. Hence rentcels use the 30 Year argument because they act like 15/20 year mortgages don't exist or paying principle isn't an option. So a $200k house makes the average millennial renter piss their pants, plus the housing market sucks right now. Housing prices will settle eventually, rent prices will always rise (or will get torn down and replaced with even more expensive apartments).80/20 Rule Philosopher Crew
Looks Money Status Crew
Chip on my shoulder crew
Change shoes after shtting in gym so person in next stall wont know I blew up the bathroom crew
Buying is better than renting crew
Bookmarks