HELP! what should I do? I can buy an old boring house all cash, and have zero monthly payments...

HELP! what should I do? I can buy an old boring house all cash, and have zero monthly payments. Only utilities and annual taxes of course. OR I can get something similar to the house on the right, and pay around $1,300 a month for 30 yrs.

My wallet is saying house on the left. I could even work less hrs, and give the wife the chance to quit her job. OR do it the American way and go balls deep in debt and buy the Biggest Baddest house we can afford. Society and the bank will be happy.

I don't want to look like a poorfag, but I'm also too lazy to keep working at my current pace for the next 3 decades. What would you do?

Even if you got a house like on the left, you'd still be doing better than 90% of Millennials. If vanity is your biggest concern, leave California, faggot.

Dude if you can buy a house debt free do that shit. Unless it's a complete shit hole that your just gonna have to pour money into. Pretty much anywhere that things gonna gain value and you can flip it into a better house in 5 years

Left, mostly paid all upfront, no debts (except monthly maintainance, [water, electricity, heat, taxes] )

You can always upgrade if you save your money right and can make your house look less boring.

If the right property will appreciate even a little bit in value then definitely right

In 30 years, your new house would look exactly like the old house and you would be out a half million dollars that you could have invested and scammed others into buying new houses.

Debt free as much as you can. Don't fall for the jewish interest trap

When the economy goes down or for example Wells Fargo fucks by saying 1200 a month but u havent seen it under 2200 you will wish you had the house on the left and with that said u could afford a boat and truck and even add on to the left house and or by some land and keep cows horses and blah fucking blah

Buy 5 - 10 acres w/ woodlands around it and build a house on it

>$1200 mortgage

My rent is more then twice that

Don't be a fool

depends if you want kids or not

the jews want you to "buy now pay later" go debt free so you don't have to be reduced to eating instant noodles and macaroni because of your debt,

Don't let the wife just quit her job unless she is actually raising the kids. It doesn't work out and she will get lazy and complacent then cheat on you when she is bored during the day.

Left now and start investing the $1200/mo. then in 15-20 years you can pay cash for a house like right and rent out house on left. make compound interest work for you, not against you.

Cash, no bills.

That's called security.

go for the plain jane house. It might be boring but it's all paid off out front.

If it's boring you can always improve the look.

Its looking more like people should stop following the non existent american dream and go for something affordable and be debt free.

See dubs gets it

>buy cheap house
>live X amount of years
>save $
>slowly update and fix house
>buy a bigger more badass house
>most murica of house
>complete with eagle statue
>rent out the old one
>bigger down payment on super house means lower monthly
>ez shit
/thread

>the only expenses on a house are utilities and taxes
You need another 10 years of living to undo that kind of stupid

house on the right is a McMansion piece of shit.

WOW! thanks everyone. Great responses.. I going to go with my gut feeling and go with little boring house on the left. And it those have 3 bedrooms. Not bad for raising kids.

and the big house isn't personal vanity. Is just that most our family goes for the big houses. Financially, is a real drag. But the areas are always nice and so are their yards. While I been living in a shitty apartment for yrs (reason for our savings)

Being able to afford other shit bc our government is a bunch of fucking niggers wearing white nigger skin is the new American dream

Debt free user here. Sold massive house and bought smaller one cash. You cant imagine the weight that is lifted off your shoulders knowing that you have no mortgage and don't pay rent. You will never find that feeling of freedom anywhere else.

is this a troll post your are you just a fucking retard?

Funny, man. I am in a similar situation. You get tax breaks if you get a mortgage. Personally, imma go big and get a 3000 sqft house with a pool and have a house I enjoy. But that's me.

And fucking dubs and the dubs know

Duh. Fuck the bank.

property taxes are still gonna sting, tho

t. user who is paying 29,000 USD per annum to the state of california even though the house is paid off...

Trip trippity trip trippity trip trip trippoo

Are you a fucking moron? Buy the old boring house and use it as a firm foundation from which to build yourself up. Then you can buy a nicer house later on and stay in a similar financial situation.

Jesus fuck me Christ you are stupid.

As long as it's in reasonable condition, get the house you can buy outright.

Keep in mind that in addition to the things you listed, you will also have insurance and maintenance costs. Maintenance costs can be higher than you might expect.

Also, you've already made the mistake of getting married, but since you have, don't make the further mistake of letting your wife quit work unless she's doing it to raise the kids, and doing a damn fine job of it.

Do you have kids? If not then there's no reason to buy a house. Just get an apartment or condo. Also, debt is never a good idea. Tread as lightly as possible. Travel light, my friend. Also, if you do decide to go for the small house and stay debt free then you can always put some money into renovation and make a great project out of it.

taxes are based on property values. the smaller house still pays way less than the bigger newer homes.

now a days its all about the lot not the house. which home is in a better area with a higher property value? you can always reno the old house or even tear down and build new on the lot if you want. the home on the left is a good starter home and if you buy in the right area you can always sell on the up turn when the market favors the seller.

see how angry you got me, i couldnt even type correctly

Get both. Live in the nice one, rent the old one.

Ouch. Mine is 2kUSD/year.

>California
>1200 a month
>anything

It's all about "caring how you look"

Go ahead and stress yourself out over that, but I'd be happier in the affordable home

Wtf i pay 1200 for a shitty studio apartment. Get the big house

I assume the money that would be used to buy the old house outright would be a down payment on the new house. That would dramatically increase the mortgage on the new house, assuming he could even still get the loan.

5yrs ago, we jumped out of an underwater cali house (owed more than it's worth by a wide margin). Fortunately, we had the means to buy a bigger house out of state for a song, totally cash. Another user mentioned the feeling of freedom of not having a mortgage...hory shet is they right! Prop tax and utilities are our only expense aside from maintenance. And we bought in a high value growth area and are now sitting on 68% on top in those 5yrs.
Go with the little place you can own, you will not be sorry

Deff the house on the left, that's my dream is just to own a small, nice looking house like that one and if I can get it paid off in no time and have no debt, that'd be swaggy. Fuck paying for a bigger house which you'll enjoy for like a month and then get bored with it and want to kill yourself knowing you have monthly payments for it.

taking care of a house whether it's new or old is no small task, but if your dead set on home ownership the choice is obvious. (house pictured on the left) remember appliances, plumbing, cooling, heating, electrical, etc. all very expensive and not to mention the upkeep especially if you live in a place where home owners association

>29,000 USD
>per annum
You expect us to believe you're in America?

i pay 16k a year on a 800k house in San Mateo.....where the fuck do you live

Hands down..the house on the left. Travel. Enjoy your life. Fuck a huge mortgage.

>op
kids are in the near future. And a condo would be too small for that. Seeing the nice big houses is tempting as fuck, but I guess owning upright would be the best choice. Even maintenance, insurance, and taxes should be way smaller than a 12 hundred monthly commitment.

but no pool or fancy dog park...

...

my nigga

I'm kind of surprised by the answers. I definitely get being debt-free. have lived that way my entire life. pay cash for everything. but here's the here's the thing I haven't seen anyone mention: Let's say you have $200,000 cash and you want to buy a house. You could pop that money down on an average house that you like but don't love. Or you could buy $300,000 house that you love.

If you drop that 200,000 into your house, that money is tied up. It's gone. It might take you 5 to 10 years to save $200,000 again. But if you get a mortgage at 4%, you could invest that 200,000 and make lot more than 4%. This is why paying cash for a house is not always the best idea even if you can.

a house like the one on the left is my dream house. no lie.

why not something in the middle? my house is $775 a month with taxes included in escrow. 850sqft in one of the safest and most desirable neighborhoods in my state, guaranteed to appreciate.

>Get both. Live in the nice one, rent the old one.
>I assume the money that would be used to buy the old house outright would be a down payment on the new house

THIS. it's one or the other. Give a big down-payment on the expensive house to avoid mortgage insurance, and to get approved easily. OR use it to pay off the smaller house.

where do you live and how nice is your house?

The pool is hard to give up. I'll grant you. But not having that debt over your head is a hell of a feeling. Trust me. I rent but I'm otherwise completely debt free. It's an incredible feeling that most people don't ever feel throughout their entire lives. Not to get too personal but I'd recommend putting off kids for a few years. It's just not a good idea. Also, we're due for another economic crash soon and when that happens the real estate market will crash with every other sector. I'd recommend holding off on buying a home until this happens.

OH SHIT NIGGER! YOU IN LAS VEGAS? THE HOUSE ON THE RIGHT IS NEAR ME IN SUMMERLIN

Get house on the left, work at same pace for 3 decades, and either retire in a nicer house or travel to the places you always wanted to.

Conversely, work the same pace in house on the left and spend money on bookers because of you're actually this dumb you probably don't have a girlfriend.

>The key to wealth is to live below your means.

Do you even need a big house right now? Why not get the house on the left now, save some more and then upgrade in a few years?

...

The decision to buy a house should be the combination of a personal and a business decision.
In my experience, home ownership is costly regardless of which path you take. But the more expensive house will end up costing you more in interest, property taxes, insurance, utilities, and maintenance. When you combine that with the typical fact that most folks can't invest for shit (or lack discipline to do so with their nice shiny mortgage house) it turns out to be a false economy and folks tend to get over-leveraged rather quickly, furthering the debt cycle deeper.

>I don't want to look like a poorfag

Which is why you will always be a poorfag.

...

Don't take on debt unless you have to. Also, hold off on debt until you're read to have kids.

keep your total housing costs to maximum 30% of your income. should be ok as long as you aren't an idiot.

borrowing money is for cucks.

i own my home. best thing in the world.

Pools can be really high maintenance, along with everything else that comes with a larger house. I guess we are assuming that the 12000/month is just the mortgage, how much are the property taxes? insurance? the increase of heating/cooling? Shit adds up hella fast and can easily destroy a budget.

New York, San Francisco?

fuck, 1200/month

Fam even on minimum wage you could afford the house on the right. I'd kill for a house like that around those prices in nj, i make 60k a year and all i see are 400k houses that arent half that size.

What matters is the equity in the property and the value of it Vs what it will likely be later on. A house is a complicated purchase, not just something you buy.

Hahaha, nice. You got it. How is the area??

>t. user who is paying 29,000 USD per annum to the state of california even though the house is paid off...
top kek, my property tax is $900/year on a $60,000 house.

>nj

When I was house hunting (28yrs old) I really wanted a new build, multi story house, 3 car garage in a mostly white neighborhood (i an black). So wifey and I drove around all these recent build suburbs that were going for $350k ish. Know what we saw? Every other house had a blue collar vehicle out front. Electricians, plumbers, cable guys, obvious construction trucks. (This was at night, so no one was working, the trucks belonged to the owners) one could take this two ways.

1: hey, even blue collar workers with an average income of $50k could afford this, why can't I?

2: oh fuck. All these people are trying really hard for that American dream look of having money and if ANYTHING happens like an accident or getting fired, these people are going to lose everything because they over committed.


We settled on a brick house, 2 car, 1,700 sq/ft house for $205k. It's been 4 years. We drive near those houses a lot due to commuting and we saw a lot of for sale signs. Like. A fucking lot. Checked zillow and most of them are in short sale or foreclosure. People can't afford the maximum amount forever. Your kid gets sick? You just lost your house. You caught your wife cheating? You lost your house. You get a DUI? Goodbye house.

Stop trying to look like you have money, buy way less than you can afford in a white neighborhood and you will have savings, can fix your car when it breaks, afford to go on vacation, etc.

I agree with this guy

...

House on left, dawg. Save that $. Accumulation of cash/investments at an early age yields to an early retirement.

you couldn't pay me to live anywhere that had houses that cheap.

wut

its nice, hot as fuck. great people. far enough away from the shitty parts but close enough to have fun. safe. great parks. Red rock is 15 min away

I've owned big houses and small houses. Realistically, you really use the kitchen, the bedroom, and maybe the office. The other rooms suck up heat energy and maintenance. If you don't plan on filling the space with kids, stay out of debt. My advice only. I fuckin' hated being in debt, some are more OK with it.

>do it the American way
buy the small house outright, use it as capitol towards the big house, rent the small one to make the mortgage payments on the big one

Listen to this guy.

This.

he's talking about keep assets liquid

>buys little place
>bunch of nig nogs and "poor" people buy in that area
>bunch of criminals use the houses for any number of illegal activities
what a nice neighbourhood, OP totally did the smart thing by choosing to say no to the bankers.

Las Vegas my friend. Those casinos need accountants, IT people, lawyers, chefs, cleaning staff, and everything in between. And the houses are pretty cheap taking into account that it's a pretty big city.

>Realistically, you really use the kitchen, the bedroom, and maybe the office.

Unless you entertain a lot. But if you do that, you probably have enough money that you don't worry about decisions like OP's.

left, because even if you manage to pay the $1200/mo, you still have to factor in maintenance when something fucks up.

that assumes a lot. it assumes that the house will appreciate and enough to cover whatever costs the cheap house will require to fix as well.

a bad investment is a bad investment whether you pay cash or not.

I pay $800 a month to live in a converted garage. It's very nice for what it is, but still. Just buy the house outright. If later you decide to upgrade you can sell it and make a down payment on something better.

This is the advice a professional Financial advisor would give in general terms. In other words if theyre writing an article about it, they want to generalize and say most people can't invest well, so therefore tie your cash up in a house; it's safer that way. I get that. But if you really think you can invest and beat say 8%, then it's better to invest your cash and get a mortgage. This is the situation I'm in right now. (I'm not OP by the way.) I have roughly 160,000 with another 45,000 in a 401k. I could work another year and pay cash for a decent house, or get a mortgage and buy an awesome one. Tough call, especially since I think there will be a crash coming.

found the Jew

unless you can bank on that job for 30 yeas I would go left

SHHHHHHH! i dont need any faggots from NJ moving here.

Hey NJ fag, its over 100 here, filled with spics and nigs...go away

man, love hearing that. I'm actually moving from out of state, and don't know the area that well. Only been there on vacation. What are the crappy areas?

ya why should he question the house's initial low value? only an idiot would do that! houses are usually really cheap because they're in desirable ares with great neighbors and rising property values! /s

>crappy areas
North vegas. and anywhere near the Air force base