So I managed to avoid the university meme and the renting meme and I now have 3 years experience in IT and I have nearly £30,000 in the bank at 21 but now I can't tell if I'm going to fall for the buying a house meme.
Do you really need to buy a house? Is the housing market going to crash? I don't know what to do as I don't want to be indebted to the bank by getting a mortgage so my plan was to get a huge deposit or maybe even stay at home until 30 when I should have 140k for an average house without borrowing. Sometimes I think fuck it I'd be happy in a little camper van providing i had internet and power
Oh yeah that was another one of my ideas. Get a two bedroom house and hire out a room for like £800 a month or something and have someone pay my mortgage.
David Gonzalez
Is buying an apartment a meme ?
Jacob Walker
Are you ok with living in one place for 10+ years? Airbnb is also a valid option depending on your location. Imo the housing market is becoming overvalued again so I'd wait for another bubble to burst before buying.
David Barnes
Yes You're literally throwing money at a wall Save your money, put a huge down, buy during a crash. A house is the only thing you'll get something out of.
Daniel Moore
I was too young to buy in 08 sadly now I'm patiently waiting for another crash but I'm not sure it's going to come
Liam Rogers
Build passive income first with shares / index funds then buy a house
I'm not doing anything until I have £200k in my ISA
Mason Martin
I would do this if I was in your position again. Better yet, if you can find a house with a basement you can convert to an apartment and rent out one or the other.
Juan Flores
The only way buying a house makes any sense is if you can afford to buy it outright. If you finance it, you will end up sinking literally twice as much into it as it's worth.
If you can buy a house in a good location at a good price for cash, live in it for a few years, make a few improvements, and sell it at a hefty profit, it's an investment. Then you can move on to the next investment, and so on and so on.
But if you have to go through a bank, then struggle to make the mortgage payment every month, get stuck in the same place for 30 years and have nothing to show for it in the end except a house that's worth less than what you put into it, then you just got royally fucked for half your life.
tl;dr - Buying a house makes sense if you're rich, but is the height of foolishness if you're poor.
Tyler Scott
Fuck that, room mates are stupid, then theyll judge you if you bring home fat chicks to plow. Be a landlord instead.
Colton Hill
I've messed around with trading 212 with a practice account and actually made 14k starting off with 10k. What are index funds if you don't mind explaining?
Ryan Foster
Get a flat with more bedrooms than you need. Rent out the spare bedroom(s) to friends, the rent more than covers the mortgage payments on buying a larger place than you need. The housing market will crash if interest rates rise sharply, as money has been free to borrow as governments have been committed to ZIRP for around 10 years. Also, many buy-to-let landlords are desperate to exit the market due to tax changes, so watch that one. Worth going here for advice www.housepricecrash.co.uk Be warned, they've been getting the timing of the crash wrong for the last 13 years although the discussion of the economic fundamentals is sound - the Bank of England has always managed to pull a trick out of its arse whenever the market starts to turn (until now).
Landon Richardson
If you buy your home, the payment you make will stay the same with minor variance until it's paid off. Once it's paid off, you just have to tuck away a little bit each month for property tax.
If you rent, you do it until the day that you die... And the price of that rent will increase until the day that you die.
Keep in mind, most pensions stay fixed at the amount it is at the day that you retire. That's what a fixed income is... Your earnings will not change, but your rent will always go up.
Buy a home and do a favor to your future self.
Samuel Perry
Thanks for the insight lads
Carter Turner
It depends where it is. I bought a new three bedroom place... Before the Skytrain was finished, it was assessed at $100k over asking price.
My place is a short bus ride from a university. It's a two minute walk to a major metro hub. It's less than a minute from a future grocery store.
These things will increase the value. But usually apartments do not grow in value well... So it's a fine way to save money in equity rather than throw your money away at rent.
Jonathan Price
The housing bubble in Europe is immense and not popped at all.
We've been getting warnings about our housing market for years now.
You wanna invest after not before.
Ayden Ward
Even buying a house in cash is disadvantageous, just rent one and invest your money in something better, make the maths. Also you don't need to live in the same place for decades.
Zachary Cruz
Buy. In fifteen years the debt will be peanuts compared to the house value.
A rising population and inflation (guanteed by the central banks, remember) basically makes certain home prices will rise over time.
OP bear in mind the last crash in 08, the value of houses dropped, but are now back above where they were before.
house prices will never go down, may as well buy whenever
David Sullivan
> So I managed to avoid the university meme and the renting meme and I now have 3 years experience in IT How did you do it? You got lucky.
Been trying to get in the door with IT but can't get in because they demand so much experience and generally struggling to get a job in any field at this point.
Thought about university but it's so worthless when so many people graduate and are either stuck on the dole or working in some coffee place.
William Jones
Anyone who tells you renting isn't dead money has a vested interest in convincing people its a good idea
landlords want people to think renting is a good idea
Bentley Bennett
Having your money in a property is waaaay better than having it in the bank. If your bank goes bust your money could easily go *poof* without a trace. Why do you think rich assholes spend squillions on art and jewels etc it's not because they can it's because the inner workings of pretty much every bank in the world is actually horrifying
Charles Myers
Apprenticeship. Swallow your pride and make sure you actually have some knowledge going in.
Isaiah King
how about you just fall for the an hero "meme" and off yourself for being such a collosal faggot and brushing everything off as a meme instead of dealing with a real life decision like a normal fucking person
Jason Rodriguez
Its not a dead money if you manage to invest the difference of renting-buying in better things.
Ayden Watson
go to an agency that specialises in IT recruitment. As long as you are professional and somewhat have a brain, they'll hire you as the turnaround rate is pretty fast in those kind of jobs. Plus, in larger companies there's LOADS of room for career advancement. Most of the people that I work with who have been there for >2 years or so have really responsible jobs having started with nothing. Pay sucks at first though.
Juan Anderson
also applying direct to companies is a meme. Agencies actually do all the hard shit for you, and get your foot in the door. Only downside is there are lots of shit agencies that literally do nothing, and some good ones who will bend over backwards to get you hired, seriously.
Carter Myers
Why not build an additional room above the garage?
Mason White
I was in a similar position to you, started working full time while living at home when I was 18, saved up £42k by the time I was 21. Bought a 3 bed semi and rented out one room to a friend.
Now 24 and don't regret it, I see people I work with 40+ with family and stuck renting.
Sebastian Evans
Being careful because I'm not a Brit, but here in Australia I'm being tentative about buying a house.
The markets are due for rebalance and interest rates are nowhere-to-go low. If you have a mortgage, you can expect your payments to damn near double, and you'll be glad you're renting.
I don't think there's a one-size-fits-all answer here. I am renting a pretty comfy place and have low rent, so I'm saving lots. I think that's a better way to go because I can put down a bigger deposit later and have it paid off in 5-10 years.
Having a deposit of less than 40% and locking yourself into a 20-30 year mortgage. Now that's a meme.
Hunter Barnes
Web dev here. I did a humanities degree (useless, but I did some comp. sci modules, the only employable skill I have)
What sort of apprenticeship did you do? And what do you do in IT?
Grayson Cruz
only two things hold their value, gold and property
The value of money is artificial but precious metals and bricks and mortar will hold steady
Ayden Ortiz
Stay at home until 30?
You entitled faggot.
Nolan Reed
It worked out for me, i went from paying $1200/month for a shitty apartment to paying $700/month to buy a home over the course of 12 years.
Of course i have to fix everything that goes wrong with it and mow. As well as installing a septic system, incoming power pole/lines, build fences and pour sidewalks but aside from that it was well worth it.
Im only 28 now and have less than a year to go until it is payed off.
Kevin Thomas
I'm almost 30 years old and have less than £7k savings in my bank
How the fuck did you kiddies save so much?
Dylan Parker
Don't get distracted.
Bentley Thompson
Bought a house 2.5 years ago, was 121k now worth 140k.
Interest rates at an all time low, paying only £350 a month making massive overpayments directly paying off capital.
Deffo buy a house at the moment in my opinion
Jace Sanders
timing is very hard, but markets are cyclical
Christian Myers
>Buying a house makes sense if you're rich, but is the height of foolishness if you're poor. this people call wall street folks who diversify and only use their own money gamblers, but then they go out and use 95% leverage to invest in a single asset strategy where the asset won't sell if the market for it starts going down
Leo Flores
I did it by avoiding university and went straight into the workforce at 18. Im smart so i had advanced to making 70 (t year by the time i was 20.
Making just short of 100k now
Mason Butler
>The only way buying a house makes any sense is if you can afford to buy it outright. If you finance it, you will end up sinking literally twice as much into it as it's worth.
So wrong I don't know where to begin. With rates so low right now this makes no sense. What a smart person does if he has the cash is put 20% down and invest the rest of the money. 30 year fixed (Don't fall for the Jewish ARM meme) rates are like 3% with good credit, 15 year fixed even lower. Any idiot can make at least 3% return on even the safest index funds so you'll make money and that's even before factoring in inflation.
Even the very wealthy will finance part of their home purchase, it would be autistic not to.
Carter Peterson
My parents let me live rent free under the condition I saved the majority of my wages to buy a house.
Even though I was earning basically minimum wage + shift bonus + overtime I could still easily save £1000+ a month, only outgoings were food & fuel.
Jeremiah Fisher
My folks did the same for me fir the first 2 years i was working. I ended up buying them all new appliances and a big flatscreen tv when they firat came out so it worked out for everyone.
Kayden Harris
Depends where and how. The market here is good for houses. Bought a house for 45,000$ Of course, I could pay it out right, but the mortgage allows me to keep my money. My life is pretty comfy.. Small house, so i don't have to constantly clean.
Brayden Morris
This might boggle your mind but we can actually build them here and have them custom made for less than your shitty prices are there. And you get to choose the land to boot.
Eli Scott
Old Worlders should work towards home ownership. Not only are they built with good construction, Old Worlders have ethnic roots and need somewhere to place them to help their countries continue. It's part of continuing your bloodline, having a family, passing on your culture. We're rooting for you
In the New World our lives are rootless due to lack of ethnic/cultural roots so for us we can live more rootlessly without consequence, as well as the fact that culture here is amassed in a few cities and most youth live near one its good to have an apartments. Also our houses are SHIT construction and are in places filled with baby boomers or rednecks
Benjamin Cox
This user gets it. Invest in ETFs and you can even easily make 5%/year
Lucas Thompson
I have 300k saved for a deposit to buy a place in Sydney, but I'm thinking I'll just rent in Sydney while I'm working and I'll buy a nice place that's not in an overpriced part of the country outright when I retire.
Samuel Rogers
Generally dont move around if you don't have to Your kids having lots of cousins around can be beneficial Whites need to be more nepotistic
Dominic Long
Simple Supply and demand economics, Lots of spare space in America making land cheep.
>Making houses out of wood like Bronze age people
Brayden Anderson
Sure, if you live out in the middle of fucking nowhere
You fucking moron
Liam Davis
Thats the best place to shoot guns
Dominic Phillips
>He thinks 3% return on investments is the same thing as 3% interest on a mortgage
And this is why the Jews always win
Mason Bailey
Moving around (here) changes scenery and new cities
Also >Having kids lol
Yeah that. I find it funny when people brag about real estate prices in Beefart, Kentucky
William Thompson
No, not if you live in London. Within 3 years of buying a house in London you can double your money. Outside of London yes it is a meme it would take you 20 years to double your money
Charles Martinez
I did a first line support one for 3 months that ended and then I did just a general IT one and ive been at my current place since just before my 19th bday my job title now is IT systems admin and it is basically maintaining the servers and supporting users in an app development company
>Moving around (here) changes scenery and new cities Why? What is the point?
>>Having kids >lol good goy
Jaxson Sanchez
i dont spend and i live at home rent free
Jordan Mitchell
nice house bro
Charles Russell
Only fools accumulate their money in banks. Capitalists do invest their money all the time in multiple sources of fixed and variable incomes, so its very rare for them to just lose all their money at once. Also proprieties are not always the most secure investment, there always can be a economic bubble explosion and you can lose easily 60 to 80% of your invested capital in the house.
Landon Robinson
Buying a house isn't a meme, buying one because "prices always go up" is though.
Jace Martinez
How many memes did I fall for. >took gap year and have 70k in the bank. >planned on uni but got a electrical apprenticeship. >still living with parents.
Should I buy a house as soon as I finish my trade or should I further specialise and go and do my electrical engineering course at uni. Or buy a house and live off my trade?
Jeremiah Clark
Op, if you do buy a house now, there are things you can do that will drastically lower the interest you pay, like making daily payments instead of monthly payments. The duplex idea is a really good idea. Live on one side, rent the other side out, make daily payments and extra payments when you can.
You should get familiar with loan amortizations before you make a decision, and work through what your payments and total interest would be on different payment schemes. This is one of the most important financial decisions you will ever make, so you should be confident you understand it before you enter into it. Most people end up getting married and letting emotion dictate a large part of their decision making process. Be smart.
Nathaniel Price
Dont buy a house until you find a wife Still living at home but not being poor will actually help filter out shit tier women
Mason Young
Where will you sex them tho?
Jacob Brown
I'm never getting married. Why risk half or more of your things for very little gain.
Jeremiah Watson
I would love to live in the middle of nowhere, who wouldn't? (I'd choose the English countryside myself)
But are there jobs out in the middle of nowhere? No.
Exactement.
That's pretty cool.
Do you enjoy it? Is it very stressful?
Also how big's the company if you don't mind me asking? My last company was 12 people, pretty small (I'm NEET now, because I'm an idiot)
Ryder Adams
>good goy
Considering the very jewish politics and culture of the US, they want people to give birth to more pets. Jews fear ethnic nationalists and the new world doesn't have ethnic nations
>What is the point?
I've only moved twice but most youth do it for new scenery, new cultural venues and new job openings
Parker Sanchez
That's what I'm thinking.
Christopher Anderson
Just don't marry a poor woman, if you're successful only marry a successful woman.
It's what I did and we have a combined income approaching 200k now.
Nolan Robinson
Do you not want kids? I can't understand that myself. I can't understand how a person wouldn't want kids... and by my understanding of biology, nature, evolutionary biology, everybody DOES want kids... it's just whether you choose to listen to your body's desires or not
Wyatt Watson
In your house after you marry them
Blake Hall
Hopefully the housing bubble pops soon.
Angel Lewis
Deus Vult
Elijah Wood
Buy not in London. Anyway, you should compare the price ten years ago. If you didn't bought ten years ago you would be mad about yourself today, matey. The rents will go up and upper.
And the rent system is in UK fucked up, people haven't the same rights and aren't that protected like in Germany.
Landon James
People with weak genetics (physical or mental) generally don't want kids. It's biological, just like us normal people do want kids and to continue our bloodlines
Dylan Cook
Anyone who tells you buying isn't dead money has a vested interested in convincing people it's a good idea. Homeowners want buyers to think it's a good idea.
Lucas Wright
Didn't read lol Property isn't necessarily prosperous, but it's damn valuable because everybody needs a place to live
Andrew Ortiz
>Considering the very jewish politics and culture of the US, they want people to give birth to more pets. Jews fear ethnic nationalists and the new world doesn't have ethnic nations Have fun dying out You sure showed them
>I've only moved twice but most youth do it for new scenery, new cultural venues and new job openings Most of that stuff is stupid If you cant find any work in your home town only then consider moving
Chase Gonzalez
Do you have any kids?
I think I would like to marry a woman who is honest and works, sure. But preferably I will be able to earn enough to be the breadwinner. And then hopefully that means she can give up work and raise kids, while I bring home the bacon.
Did you ever think that? That e.g. if your wife stops working then she could raise the kids while you bring home the bacon?
Zachary White
We were warned about America being puppets to the illuminati, but we know now they were Saudi Arabia's puppets...
Saudi Arabia follows Wahabbi Islam, which is a babylonian death cult sect.
Saudi Arabia owns most of the Media.
Saudi Arabia is the illuminati....
Matthew Hernandez
Yes. Keep renting, goy.
Austin Cruz
I got 150k from a car accident. I bought a house. I can work part-time and live comfortably and pay all my bills. When I work full time I save money (currently doing this). It was a good decision.
Oliver Hall
good thinking
My gf atm doesn't want kids and I love my money too much to have kids and if i did have them i would want me and her to have 80k combined income so we could provide everything he needs.
Yeah it's pretty good i enjoy it quite a lot but I'd like some money as I've started to take on some new responsbilites. How did you end up neet?
Eli Ramirez
I will never live somewhere that aesthetic
RRRROOOOOOOOOOOOOOOOOOOOOOO
Kayden Watson
Hes not wrong you retard what youre doing is differnt to what hes doing there multiple strategies out there he has a bigger risk but will also have a bigger payout in a shorter time frame
Josiah Wilson
My wife's job allows her to work from home 75% of the time and mine actually shit 25%. So we won't be spending much if any money if child care.
The whole meme that women should be ONLY housekeepers is just that a meme. HOWEVER their first duty is to their family, and more women than you think agree with that. My wife wants to work because she's the type who can't stay at home and do nothing while a baby sleeps. Working from home solves both those issues
Oliver Sanders
>I love my money too much kike career women make shit tier mothers
Colton Roberts
>earn 15$/hr >have 50k savings
jesus mate.
Live like a monk, limit your indulgent spending. Save half of what you earn. Things don't bring you happiness, friends, family, and self development do.
Brayden Murphy
Invest in property outside of London and the stockbroker belt. Do it as soon as you can. If it takes 10 years, it takes 10 years. If it takes 25, it takes 25.
The sooner you stop paying to simply exist, the easier your life becomes. And fuck landlords.
Alexander Gonzalez
Same situation as you OP, I'm even in IT too. Here in the US, buying a house is a meme.
I hate when retards say buying a house is an investment. Every person I know that has bought a house hasn't made a single dollar of profit on it. Most will be lucky to get back 20% of what they pay into it.
If the housing market never recovers, I'll probably be renting for the rest of my life and you know what? I'm okay with that. Renting for the rest of my life will end up being not much more expensive than buying a house, with the added benefits of free repairs and not being tied down to where I live.
Daniel Sanders
>tfw 21 year old and already own two houses
Of course my parents bought them to me as a present but they still count, right?
Austin Walker
An index fund tracks multiple stocks and there are a lot of them, you could invest in a housing index that will go up and down with the housing market for example.
Jordan Perry
This is literally the best option. You can buy a couple of these and use the profits to pay for your mortgage on a real house. By the time everything is paid off, you have over a million dollars worth of assets paid for by other people.
Oliver Wright
>Career women make shit tier mother's
False, you're just an insecure faggot
Owen Price
>Have fun dying out >Don't have snotty annoying kids >Have tons of money and freedom
You're welcome to get bogged down with some children and lose a lot of your money but children here in 'murica are optional and superficial. Then again that's just me, I'm a rightist/reactionary so I consider an ethnic and nationality component crucial for children.