Is buying a house worth it?

is buying a house worth it?

Other urls found in this thread:

wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585/
twitter.com/SFWRedditVideos

yes, it will make your parents proud

I'm 24 and buying a lot so I can build a house.

only if you have one kid

depends on local market

where I am? maybe, might want to wait a year since the market is slowing

where you are? unknown

Anything if it protects you from that guy...

Yes, as rents keep going up your payment stays the same.

Buy a house that needs some....
Learn how to do something with your hands, you bunch of Internet fairies...
Fix house up...
Sell house again, move onto next house

im a manchild millennial and just recently started looking into grown up shit like this.

what happens when you finally pay off the house? do you usually also own the land its built on forever and will utility bills like water,gas,electricity continue to come in?

why would you ever pay for something you're not going to own? even if you don't want a house there's companies that will manage it as a rental for you, that ends up being like free money when you've paid it off. Maybe even more income than the payments.

k

Yes, then you can live in your own basement rather then your parents. Just remember you can always sell it again, normally for a profit

Not sure if srs but:
Yes you own the house and land, depending on your country the government can buy you out or forcefully move you if needed

Of course rates and utility bills keep coming in, you keep using the electricity don't you? Or are you talking about land rates?

you are responsible for property tax, which is a big bill, averages from 150$-500$ a month depending on the value of your property

>are companies going to still charge me for use their gas, electricity, and water

are you retarded?

please explain land rights,
im american by the way

Ask a 29 yr old who just inherited a paid off condo 3 weeks ago valued at ~$200,000 anything

what do you want to know?

in the end, its really not your property, since you have to pay taxes or else theyre gonna seize your property and arrest you.

If you buy a house in a normal western country you also buy the property

If you buy a house in China you get a 99 year lease

If you use power you get power bills

If you use water you get water bills

wait what the fuck, so even after the thing itself is paid off what am i paying taxes for? do i get a cut back from it on tax returns?

If you use porn you get porn bill

If you use food you get food bill

If you use duck you get duck bill

Buy a lodge far away from any form of society

It pays for schools n roads n shit. Property taxes are fine, since that money by and large doesn't go to pay for any Tyrones in your neighborhood.

thanks for breaking it down for me, you guys are not as malicious as what most people might think more often than not

again, why the fuck wouldn't you pay towards owning a thing? Rent is liek taxes only you get nothing out of it. Your other option is to live in a van down by the river.

>do i get a cut back from it on tax returns

But beware if you have 2

also some places don't have property tax, just cause states are different. Feel free to buy everything and just be a rich capitalist bastard at your leisure.

Depends on your lifestyle. I like where I live and my job so I bought a house. If you plan on around a bunch, its probably easier to rent. With a house, there's always some fucking work to be done if you don't want to be one of those people who destroys a house by living in it. With an apartment or condo, someone else has to fix shit. If you're the right type of person, a house is the way to go.

nope. because when you die, the bank claims it back by default and enslaves another poor soul with a death loan oh im sorry "mortgage" and will work themselves to death to pay it off, and then they die and it starts over again

economic slavery.

>you are responsible for property tax

>TFW my state doesn't do property tax.

one of my biggest fears is when im outside doing whatever and i see these old,middle aged men working manual labor or generally shitty job and realizing that they will likely do that till they are to weak or fall ill, i never ever want to be in that situation.
im actually a pretty lazy child if im being honest, so the idea of having any full time job for years just so i can feed myself and have so little free time gives me real anxiety.

its a unrealistic dream but i want very badly to earn and save enough money to essentially retire at a very young age and buy off some property somewhere where i can live comfortably but nothing to luxurious, wake up when ide like,not have bills looming over my head, and generally just live a life of very few responsibility's and obligations. so that cabin idea speaks to me more than you know

every state in the united states has property tax, 99% of people who have mortgages have property tax put into the mortgage.

wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585/

unless, you're talking about elsewhere.

Only if your a pathetic loser with literally no friends or family in your life. You can still leave a house to someone if it has debt owing

It's just up to the person inheriting the house to payout the debt (normally by selling and pocketing the profits) or refinancing and taking on the debt

You do t die and bank instantly gets it

You might want to start realizing that been a fat lazy loser won't let you retire early

The ironic part is a lot of the "manual laborers" you actually have the skills to buy shit properties, and so them up for decent profits while working their normal trade job

And have a better chance of retirement early because of this.

so you really believe flipping houses is a viable way to make significant profit?

Not the same guy but in Missouri you can buy old abandoned houses from the state government. If you prove to them you're fixing the house up, you'll only pay around 2 grand total. Of course rent is cheap in Missouri so I plan on buy property in Kansas instead where rent is a little higher.

Yes, but it's still quite risky, renovation costs can blow out if you're not sure what you're looking at

You will have to pay a sales tax on each house sold, and it can involve a lot of commitment so not tons of free time

I remember seeing a doctor Phil show once about a younger guy around 21 who bought a $100,000 house flipped it for 10 grand profit a week (or month later) so he went to the bank and asked for a million bucks on the idea he can make $100,000 by doing the same thing

>Got the money
>bought the houses
>GFC happened
>house prices plummeted
>couldn't sell the houses and get his money as house values dived
>stuck paying Interest on million dollar loan
>had to go bankrupt

Will for ever struggle to get a loan ever again

got a house on 5 acres in FL 10 grand down...low ass mortgage payment..low property tax out here in the country....have to drive an hour to work but well worth it....ill own it in 20 yrs, and im saving money...most of my friends pay doble my mortgage just to rent a nice place

Yes. Buy a house, pay it off, you have equity. Rent a house and you give some other cunt all the equity. Don't be a fucking idiot.

>ill own it in 20 yrs, and im saving money...most of my friends pay doble my mortgage just to rent a nice place
This is pretty much the central point of it. Once you own the house, it is yours. Having to pay rent when you're retired and living off a pension and whatever life savings you've accumulated is a harrowing thought if you find yourself living longer than you expected to. Imagine dealing with someone telling you you're going to be evicted in your 70s or 80s. It might not even be your fault, the landlord might just want their place back.

my elderly mother bought a house later in life she's a year or tow from paying it off now, but she bought whats called mortgage insurance - if she died while the bank still held the note, the insurance would pay the rest off and then i'd inherit the house free and clear
thats not going to happen because she plans on putting the house on the market next year and moving someplace smaller, but there are ways to protect yourself against jew bullshit like this...

There's actually a slightly different way of looking at

I remember someone telling me once you should buy a house and pay it off, and then rent where you actually want to live

There's a decent chance you probably can't afford a house in nicer areas, but you could probably afford the rent, so you rent out your own house to subsidize your nice house rent and your set

If you ever get booted out of your nice rental area just move back to your house you're still only just paying bills on it but you probably just don't have the life style you want

I don't quite think that's how it works, the insurance company will only pay out a certain portion of the loan

Most of those mortgage insurances are to cover a percentage of your home loan repayments while you can't work. Same with income protection and all the other bullshit

But in each of those scenarios, who pays for upkeep and repairs?

OMG! Is it ever! Home ownership is probably one of the greatest joys of human existence. It's the reason man was put on this earth, it is the pinnacle of achievement.

you're missing the point, one way or another it goes back to the slave masters

In the end, the bank will own it again, take it from someone who knows, and its something banks and governments NEVER want you to know.

Depends on your market. Still, if you need a place to live and you would just be blowing the money saved by renting, then it's probably a good move.

What if all the space I need is a single room? Would buying a house still be worth it or should I be renting a studio apartment or a single room in a house?

Currently, I pay $400/mo in rent for a single room.

its a mixed bag. You still are paying assholes rent (Bank) except YOU have to fix stuff.

its expensive. I got lucky and have a VA loan as a veteran.

If you're gonna buy one, do it while rates are low because they're gonna shoot through the roof soon.

also, take a 1st time home-buyers class. Usually they're free or about 20 bucks. They're worth it because you learn all the pitfalls and ways to do things.

Read the fine print on the insurance it is worth virtualy nothing you just pay more it dose not works like you describesd.

Yes, absolutely.

No, never.

Renting is just stupid. You are basically paying someone elses mortgage for them

not if you were dumb enough to get an adjustable rate mortgage

Yep best returns I ever got was from selling my home

Except for that if you want to move, you can just leave and should have no financial baggage. If you want to move out of a house, you have to keep paying the mortgage until the house is sold.

It's only for rich people or people born in the 80s. There's zero chance of owning a home in your lifetime if you are a millenial. Especially with school debt.

Not so bad considering I'm 10 minutes from my job and if shit like the plumbing gets fucked from my massive turds all I have to do is call the landlord. Houston being so humid and floods do much I feel like foundation repair and mold infection are rampant if an apartment I live in has either issue I break my lease and move or just dip once my lease is up and it isn't my problem

Not all of us have school debt, the trades are a thing and don't require college

Trades require blood ties. Good luck making any money in a non-union work environment and unions are only for sons of daddy's construction company.

There's no way to make it on your own in this country anymore. It's basically some shitty Russian oligarch environment. Everythign for the rich, by the rich. For friends, family, and ass kissers of the rich.

>t. I took womans studies in college now I have no job

this

If I want to live the American dream, I'd have to move to another country.

But why would you want to own a home? Bragging rights?

Fucking retard, I studied biology. Top paying job is $11/hour.

Canadian dream.

To not pay rent anymore and modify it as I please.

So then, to trade off one expense for other expenses.

To not be a rent-bitch yeah.

>study biology
>only make $11/hour
I work as a desk clerk for a hospital and I make more than you /hour. And I'm working towards nursing school.

So then, bragging rights.

Nurses make more money if you can stand that shitty all-female environment.

I was considering switching to nursing but I'm out of financial aid so I'm 100% fucked. Only option is permanent immigration to Canada.

No stupid. Holy shit. It's called being independent and not being able to be kicked out of your own house if the landlord feels like it.

A biology degree is the women's studies degree of the core sciences

Chemistry masterrace reporting in

>Nurses make more money if you can stand that shitty all-female environment.

Most medical field jobs are all female. It's not even a big deal. The money is the important thing

Independent of what?

onlly if you shoot yourself in the dick first

From what I've seen, even if you own your house, you can still be forced out of it if officials decide to condemn it.

It's kinda not in my opinion. You're tied down to wherever you choose to live, making moving a pain when compared to renting. Also you are responsible for any and every wrong thing that happens. Also I don't buy the whole "a house is an investment" stuff. Whenever I buy a car, the last thing on my mind is, "Oh, I better not do this, it might hurt the resale".

>Born 86
>classed as millennial
>Have 2 years left in paying off a home loan of $300,000
>wife high school teacher
>I'm a power station operator (fitter machinist trade back ground)
>don't have to go to uni to be successful
>in two years or sooner we'll already be looking to buy another house or two for rental properties
>still won't get to retire till at least 60

Absolutely. Renting is literally throwing money away. If you are willing to drive you can often find a house for sale with the same mortgage as renting apartments in the city.

I am on my second house and I am 31. We lived in our last one, I did some renovations to us and made $40,000 in profit when we sold it which we used to buy a nicer house. Now I live in a 3000 sqft house with 3 acres that sits on a golf course. Not a mansion by any means but for my age and income I am pretty fucking happy.

>learn to by handy
>don't do stupid shit to the house that will hurt the value
>never live beyond your means. You don't want to go into foreclosure because the furnace broke

>tl;dr: got lucky

Only if you let it fall into disrepair, government can't just walk up to your house and ask you to leave, they have to buy you out

>Independent of what?

Not the other user, but he made it pretty clear of what he wants to be independent from.

Have fun not finding a job either.

You are right I would have done nursing if I could go back but I thought STEM was a sure bet.

Yeah, but if you buy somewhere isolated you can be left relatively alone.

>Born 86
>Classed as millenial

Lol no, millennial are really after 95 or so. We have no future whatsoever. You born in the 80s are considerably luckier with a lot more resources.

At leas you weren't living with your mom until your early 30s as most millenials will have to do. There's no jobs or future for our age bracket. And we have infinite unpayable college debt.

>Whenever I buy a car
Fucking retard. A car drops in value as it ages no matter what. It won't go up in value until it's considered a classic a couple decades from now. Real estate holds it's value easily. Besides, even if you lose money when you go to sell, you're still losing less money than if you pissed it away paying someone else's mortgage instead.

yes

>Have fun not finding a job either.
I got hired less than a month after graduating

For most people, buying is throwing your money away, because it's unlikely you'll see returns in your lifetime unless you're actively trying to improve property value. For many people, renting is less of a loss.

A little, also house prices in the area have gone up heaps over the 5 years we've owned it

Bought at auction for $363,000 spent around 60k on it and now worth $500,000

This is in australia though

You're too retarded to pick on

Possibly. It could be cheaper than paying rent for 2-3 years.

My advice is this.
To anyone with a slight interest in construction.
Courses are cheaper and quicker.
If you like what you do, are proud of your work and keep pushing you will earn a decent wage.
Plus when it comes to buying homes, you can either do all the work yourself, know people in other trades to help and you can source materials for a lot less.
Obviously every occupation has its perks but this worked pretty decent for me.
Trades are always needed.

Not necessarily true, there's a number of other excuses they can use to condemn it. One couple was living off the grid and their house got condemned. Official reason being that it wasn't up to code, but really it was because the city wasn't making any money off them.

Not really, since he's no more independent with a house than he is with rent.

$22 an hour here in Australia and that's considered low pay, a mere 36k a year, my parents earn over 80k and they are by no means rich

OK.

>Australia
The more I hear of success outside the US, the more the US seems fucked.

Sure, so long as interest rates hover all time low and the market keeps pushing prices up you'll be sweet.

If you turkey believe this then you are a fucking retard and either live in one of the worst housing markets in the country, or have absolutely no idea how the housing market works

*Truly

Because there are people in other countries doing fine? Are you an idiot? Plenty of people in America are doing fine as well.

In the US, this is how the housing market works for the average citizen. It's very common for realtors to lie about the condition of the house they're selling so that they can overcharge for it and leave repairs up to the owners.

>Returns in your lifetime.
Selling a house for 20k less than you paid originally is still better than paying 1200 a month rent for three or four years