Are you an owner? How old are you?
Should I "buy" a house?
I would blow all my savings in the 20% advance payment and other other expenses.
But If I turn 30 years old I have to pay 10% of taxes for the buying operation, so I need to do this now (I am 28yo).
What is more cucked paying a mortgage or renting?
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Buy land, not a (((house)))
I mean, you need shelter, but buy a place for its land, not so you have an overpriced surburban plot of uselessness
32 years old, I make way over median income here, but there is no chance I will get a home anytime soon. The housing prices have been rising like crazy in the last 10 years
I can't, the (((banks))) would only give a loan for an habitable house/flat.
38, bought at 31. City of Seattle house is closing in on $1 million, maybe a few more years to get there. Can't go anywhere however, kids will thank mom and dad one day.
I thought you guys just take houses from the abduls and move in
Homes here are a million dollars. That doesn't even get you much
He said buy not steal jude
What about flats?
Depends where you live. I see your flag, but it still depends where in Spain. This is true for everywhere. It depends on your actual, historical, political location - be it region, country, city or even village.
>willingly giving up over half your paycheck for the rest of your life for walls and a bathroom
Fucking retarded.
Just buy a van and convert it into a mini studio and enjoy your freedom at 1/1000000 the cost.
Barcelona city.
I have my eye on one flat for 90.000€ I will be paying 350€ /mo for 40years.
Still much cheaper than paying the rent.
I bought an apartment in an area that'll hopefully gentrify in ~10 years.
If everything goes as planned, I can break even or even earn some profit.
Then it's off to a real house with some actual property.
>Barcelona city.
Buying a house/apartment in a city is a really bad idea in my opinion. Cities are too dynamic, things change too fast. As a purely financial investment, Barcelona would be ok I guess. There's still gonna be some sorta demand for apartments there. A 40 year mortgage is pretty shit, because we're on the verge of some sort of massive economic/financial crash and you don't wanna meet it with a 40 year mortgage, but if you're willing to risk it could turn out to be very beneficial.
Lol spain as ever has no knowledge about econ principles
Enjoy your hundreds of ghost towns
Depends where. Housing market is inflated in most places and renting is so fucking cheap...
Houses being an investment is kind a meme. If shit ever hits the fan you will never be able to sell it and liquid cash is infinitely more valuable.
It will be a fixed mortgage, so in theory financial crisis wont afect the rate, unless some major apocalipse tier collapse.
Any way if I get tired of the place of paying, I would just rent the damn thing and would even get a littl profit the rent demand in BCN is huge (my inner jew is kicking).
>liquid cash is infinitely more valuable.
It's the exact same thing as a house. Liquid cash is only the best if you have a deep grasp of politics/economics and are ready to convert it if needed.
I own a house. 3 bedroom, 2 bath, 2150 square feet on 5 lots.
It's ok, but it also kind of sucks, I live alone, don't have company, don't use the yard. It's a lot of yard work and up keep for not much upside
Just decided to buy land and build a house on it with my girlfriend. 24 years old.
Hope it pays off, fuck
>renting
>cheap
We got a retard over here. I live in the South and monthly rent costs almost as much as a mortgage even if it's in the ghetto. I'm 21 and about to buy a home. My wife and I aren't wealthy by any means. We're working class/middle class.
My advice for anyone is to stay with your parents as long as possible. Save, save, save and save. Buy a house when you marry.
I own an apartment building and live in one of the units, but only cause my father left it to me when he died. Otherwise I'd have no hope of owning a house.
difference is how fast you can convert it
North Carolina here. I pay $300/month.
Here is the 101:
> owning a house is equivalent to a portfolio consisting of only one real estate unit with extremely high real estate
dont be fooled by anyone telling you anything else. now whether this is a good idea simply depends on the future market value of your house.
"but muh real estate always goes up in the long run"
while true, that "long run" may be a bit too far for you. no one knows exactly where we are, but ask any japanese whether he considers real estate a sound investment "in the long run".
again, buying a house is 100% equivalent to taking a loan and investing it in one single real estate unit. anyone who "made money" that way would have made a shit ton of more money if he had taken his loan and invested it in the S&P500.
meant to write: "with extremely high leverage"
South Carolina. Do you rent or own? And that's still ridiculous. There's a foreclosure about ten miles from my parent's house and it's estimated $280 a month on a mortgage. The house is in bad shape but you could get an extra 20,000 on a loan and get it fixed easy.
>be me
> live in Florida
>live in city where $300k gets you over 2,000 sq ft in a nice part of town and 3beds/baths
Gotta love American housing prices in the southeast.
put 40k (20%) on a brand new 1500 sq ft home (with full basement)
have about 16k in liquid assets
pay off credit card fully each month
Own car
Escrow is 838 a month and 100 for utilities
renting it definitely more cucked than home (((ownership))) but you should never buy a house unless you have 20% of total cost with money left over available
What is equity
Who /inheriting/ here?
>parents are renting our grandpa's house since it was empty
>once I get a job I could move in there, only have to pay for house expenses, no rent
>I'll get to keep the house when my parents pass away
Feels good. It's also in the center of a small town, super quiet.
I'm also planning of fixing the house eventually.
rent
$20,000 to fix up a dump and sell it for $28,000 (after time + work + fees + taxes + interest etc..) is hardly worth the time
What part?
You maybe right if you put the numbers in an average scale, but I really doubt prices went that low and for so many years in Osaka or Tokyo for example.
Big cities, specially center area or "good" neighborhoods go allways up no matter what and if they go down is for a very little time and margin.
Except you save a fuck-ton of money on rent, which has to be put in the calculation.
It's not always about investment. Sometimes you can buy a home to you kbkw, live in it. And it would be an excellent investment. Buy for about 26,000 and put about 20,000 in it and you couldeasily sell it for 70,000.
basically, just dont let people fool you into thinking that you are wealthier than you are. past a certain level it makes sense to buy a house, but for most people it does not.
29 bought at 27
600k average house. Prices are crazy here. Worked and saved hard
Exactly. I think a lot of these anons aren't thinking of the future. What about a family and kids? Renting is dumb. You can get kicked out in 30 days for no reason. Then all of that money you put into that place is gone. Imo a stable ownership is much more important.
Better off just working construction somewhere like Raleigh/Durham/Apex/Cary area than rolling the dice on beat up old houses in bumfuck nowhere
Im a soon to be first time buyer. I have a question for the gurus here. Should I buy the property outright or finance it? What would ebt he best method? I can cover the expense but it will eat away about half of my savings but with market volatility I am unsure if I should do this or finance.
I bought a house, but I also got lucky. Purchased nice 1950's brick ranch at the bottom of the housing crisis. Way cheaper for me than local rentals. Area is crime free and so prices are shooting through the roof. Godamn govt reassessed the value of my house, but shelling out extra money because the value of my house almost doubled is kind of a good problem to have.
Why don't we complete the housing market by building everyone a house?
yeah. lets also not forget
- sales taxes/lawyer fees when buying/selling
- interest rate costs
- being stuck at this place unless you want to pay shitload of fees again
- maintenance
- renovation
- future competition of more recently build houses (compare your "new stylish" house to houses from the 80s - thats how shitty yours will look like in 30 years)
but hey, you save those $1000 a month. congratulations. meanwhile my leveraged $500k investment in the s&p returned 100k$ last year.
>realtor explains that homes double in value every 20 years
>realtor neglects to mention that currency loses half of its purchasing power every 20 years
Just don't do it for investment reasons
its retarded to get a mortgage unless you have a career, wife, and kids about to pop out
20%?
s&p was like 9.8% returns last year buddy.
Kentucky. Bought a 2100 sqf ranch on 16 acres with pond and barn for 70k at 29 years old. Paid cash and just been working on the property getting an orchard and gardening area setup.
Depends on what makes you happy. If you just want the safety of owning it outright and only having to worry about taxes. Then do that.
If you are ok with a loan interest rates are really low, but will continue going up. You can also write the interest off on your taxes. So right now it makes financial sense to get a mortgage, but not everybody wants to carry that (((burden)))
Recommended you read up some more before making a decision.
nigga you'll be paying like 90% interest, wtf spen
are you legit retarded?
That's your opinion man. You try being married and ready to have kids. Construction in a nigger ridden city doesn't seem so good. Oh yeah, the liberal cucks love to protest.
>daddy why does that woman have a penis
>daddy why are those black people so mad
>daddy why are you A WHITE FUCKING MALE
The answer is almost always buy. When you are renting out an apartment you are just throwing money down the drain.
Here's a few tips
You don't have to put 20% down, the thing is if you don't you'll have to pay a premium for housing insurance.
It's in your best interest to get a longer loan and pay on it if it's a shorter one. Ie you have a 20 year loan with 8% interest with a monthly of 800 and a 3 year loan with a 5% interest and a monthly of 600. You pick the lower interest rate but still pay the higher price.
When you buy a house you also want to have at least 6 months of payments of bills as back up.
Always get an appraiser to make sure you're not over paying.
In all likelihood if you aren't married yet you're most likely to move. So don't worry too much about rushing the mortgage off.
I can smell the slumlord all over you mountain Jew.
That's my dream dudeeeee what part of Kentucky
Buying a house is almost always a meme designed to make you blow your savings.
It depends on the economic climate but it is usually better to invest your money and pay rent.
If you run the numbers, in 30 years you're going to have more money, be more liquid, and not be tied to one location. What if black people move to the neighborhood and property values plummet?
Sup Forumss resident real estate agent here
You don't have to use savings, you can get a 100% financed FHA loan but they take forever and their inspections are straight up autistic if the house isn't in 100% marketable condition.
A well meaning thing ruined by liberals that actually makes it harder for the poor to become home owners
Fuck it just save the money
But a foreclosed house that needs work, and fix it yourself.
In 2009 I bought avpile of shit for $5,500 cash. All copper piping had been stolen by crackheads.
For $200 I replaced it all with PVC from Lowe's in one day. Had to haul out all the fouled carpets, fix broken windows, etc. Put maybe $6000 in repairs.
Sold it for $47 thousand. Used that they money to buy a bigger, better repo in need of work. Should be able to sell this one for $120K when I'm done. Living in house and working full time, fixing it on weekends.
This is correct
Tokyo is still very expensive
If your mortgage is fixed, it means you pay less as inflation goes up.
>working your balls off to wager it all on the loyalty of a fucking roastie
That area is all northern transplants overpaying (wow this is so much cheaper than up north!) to retire in cookie cutter communities. They can't build houses fast enough. Parts of Durham have nigger problems the others are 95%++ white.
If you have kids thats a good reason to buy a house. Renting with kids is pretty degenerate. Right now my girlfriend (future wife) is in grad school though and buying a house is to much of an anchor to even consider when we are both willing to relocate for higher education/job opportunities.
Mortgage interest and house depreciation is also "throwing money down the drain"
There are plenty of cases where it isn't smart to get into a mortgage. You need savings and steady income.
What's a more secure option?
Renting, or taking a loan on a house it'll take you up to 30 years to pay off, and in the meanwhile you're going to be severely limited in your financial options
Move to an established neighborhood? I swear all of you are short-sighted.
I am 28 and I bought a house last year. I'm on track to pay it off in about 11 years.
I bought a condo in the suburbs that cost less than my annual salary. Besides some HOA fees and the tax man, it's pretty cheap living.
Renting is 1000 times more cucked.
>keep taking massive risks where you go all in on a property
>one of them doesn't pan out
>lose everything and years of work
But if you bought a home doesn't it tie you down?
The point I was trying to make is that it limits your options and flexibility
Just rent, it is too big of a liability for 28 yr old, invest in yourself and your business and grow your net worth.
This guy knows what's up
>paying compound interest on a mortgage
>receiving compound interest on investments
I know which one I will pick.
>- being stuck at this place unless you want to pay shitload of fees again
What is renting?
>- renovation
Like every 30 years?
>- future competition of more recently build houses (compare your "new stylish" house to houses from the 80s - thats how shitty yours will look like in 30 years)
Irrelevant if you buy a propety in a good or centric area with a high demand
>just be homeless
My bad, I worded that wrong. Construction in an expensive, nigger ridden city doesn't seem likes it worth it. I'm not saying that market isn't good. The trade-off isn't good enough. I stayed with my parents til I was married so I see it a little differently.
Yeah, that's very common in the U.S.
You're doing the right thing Juan. Don't listen to
These economically illiterate plebs.
Don't blow all your savings on the down payment, idiot. If you can't afford the 20% and still have 12 months+ extra fluid cash youre too poor to own
What about marriage and a family?
Renting is for retards. Who in their right mind would give a landlord $x a month to live somewhere and never see that money again, when they could spend a similar amount on mortgage payments and get all that money back when they sell
>My advice for anyone is to stay with your parents as long as possible. Save, save, save and save. Buy a house when you marry.
Better to buy a house and have your parents live with while having them pay a modest rent compared to rent in your area. Buy big enough that you can accommodate 4 adults when you settle down and don't ever fall for (((marriage)))
The rate on a mortgage right now is so low you'd be wasting money trying to pay it off. Keep the monthly payment as low as possible so you can invest in higher yield investments.
You still get the appreciation in value without equity so there is really no benefit to having your money tied up in a house considering what else you could be doing with it.
27 here
Have a mortgage. Renting is technically more cucked, at least where I live. I'm excited to move onto a different house and rent out the one where I live. The other townhouses near it for rent are seriously 600 more dollars month for rent than my mortgage payment. I should be able to undercut the shit out of them while still making money.
3 rooms apartment, Moscow.
About $ 100-125 US per month including water, electricity and internet.
You'd be paying rent one way or another and in most markets rents are outrageous when compared to monthly mortgage payments.
If you can get in for 3.5-5% down you should, even with PMI because you can refinance after you get enough equity.
My parents are homeowners. Marriage is an important part of society you moron. Marriages create more stable environments for your kids. But of course you're gonna be a faggot and say I'm wrong.
You don't lose everything, you just do a short sale or wait out he market. Eventually properties will appreciate to the point you can get out of it unless niggers start moving into the neighborhood. Then you end up like Detroit
I don't think it's bad if you can get a house for 2 or 3 times your salary UT these days in urban areas the regular house price is going up to 7 times the average annual salary.
Yeah but you live in Russia so won't your neighbor murder you if you play your music too loud or something
Bought a house for $100k, really crappy though, but insurance is going to make it better.
Why undercut? Just charge the market rate and hire a property manager so you literally don't have to do nuffin but collect rent checks and sign new leases.
>or taking a loan on a house it'll take you up to 30 years to pay off,
Nothing says a mortgage HAS to take 30 years to pay off. In fact when buying a house you should factor in that you will make additional payments to jew the jews out of their interest. In other words if you pay $800 in rent anyways you should buy a house where your mortgage payment will be around $600.
Also rent cost will go up over the course of the next 10 years, but your mortgage payment will actually start going down. (ignoring property tax)
I know but It's that or minimun 650€ /mo in renting or a cuckshed in a shared flat for 400€
>gentrify
But you don't have niggers in Estonia.
I bought a house for cash(no mortgage) during housing crash for $150K. Now I'm going to sell this year for over $230K. It's all about timing it right for the market.
I'm 22 and my house should be built in a year or so..Will pay about 320k for a decent size land and house. Not sure whether to move in right away or rent it out. Repayments would be around 1700 per month.
FPBP
There is nothing more true than this in the world.
Makes me laugh when people buy (((flats))) in a building with no land.
Sadly, for many people it's close to impossible to buy real land.
>buy house 5 years ago for very good price
>do some painting and landscaping (cheap)
>put it on the market
I'd make a very nice profit even with the two low-ball bids I've had so far: 15k profit from low ballers (even accounting for the 10% tax I paid 5 years ago), but I'm shooting for 30k profit.
>about to buy a much bigger and more expensive house
>again at a very good price
>house is extremely nice and luxurious, but lacks basic stuff like insulation
If I add roof and cavity wall insulation to this baby (very cheap effort), I might flip this house again after like 5 years and make even more profit.
The trick is to buy houses that have been on the market for a very long time and low ball the fuck out of the sellers.
Just be careful you're not buying a lemon.
I have 15k for a deposit and a stable job which pays 27k and its still impossible to find a place to buy.
Fuck the UK mate, i am honestly at the point where i will just move somewhere else.
Make sure it's a big house. Small house on large plot is discounted, while mansion is priced extra.