Is it red pilled or not?
I have roughly 40k saved and right now houses are very cheap and interest rates low.
I keep thinking it is time to stop share housing with degenerates and build a kingdom of my own.
BUT I am young and scared of being tied down. I dont want to wake up at 30 and realize all I did was work my 20s away to pay the mortgage jew while my peers all had a wild and reckless 20's travelling and not being stuck.
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Buy that house and get a gun. Be a man.
Owning a house is vastly superior to renting like a good cuckboy.
Then again, it depends on how fucked you housing situation is. Currently in Britain, young people have been jewed out of the housing ladder since the (((powers that be))) want the goys to be renting, not owning. Prices are through the roof, literally.
You need to read 'rich dad, poor dad'. It explains why buying a house wont make you rich.
Don't do it. I had 30k saved while renting. After the down payment, repairs, insurance, and upkeep I now live paycheck to paycheck.
the house is a good investment if you can afford it. Money you would otherwise be paying to a landlord is essentially going to you instead, because whenever you sell the house you have hopefully made a profit.
Just figure out what you want to do with yourself first. If you're just a shut in that doesn't plan on going anywhere besides to work and the grocery store, then yeah might as well, since in the end, you will want to have your own house.
If it's cheap, then it could be a good idea.
> I dont want to wake up at 30 and realize all I did was work my 20s away to pay the mortgage jew while my peers all had a wild and reckless 20's travelling and not being stuck
You can think in the future or be a hedonism "I could die tomorrow anyways" like most.
That's your choice.
that's what we call "living outside of your means"
OP obviously shouldn't put himself in a financial situation that ends up with him living paycheck to paycheck
you should have saved more than 30k or gotten a cheaper house fampai
I'm 26 and I bought a house last year. Mortgage payment less than what I was paying in rent and half of that goes into equity, so I can access that money again later. I also rented out the second bedroom to a buddy and his rent pays most of my mortgage anyway so I'm basically living free, except for minor repairs and landscaping costs.
The trick is don't buy the most expensive house you can afford. There's nothing wrong with a small starter home until your income goes up.
If you have any questions about the process let me know OP.
The main advantage of buying a house is the stability that it provides. When you're renting even in the best case scenario there's always a risk that the owner will choose not to continue renting to you when the lease is up. I've seen this countless times where owners and renters couldn't come to terms with a new contract and the renters were forced to find a new place. If you're not raising a family you probably don't need that level of stability.
The biggest disadvantage to owning is the potential money sink. At any point in time you water heater could bust or your furnace could go and all of a sudden you're a few thousand dollars in the hole and you have to take a day off work to supervise the repairs.
I'm a home owner, and I generally recommend for people just to rent when they ask me.
Yes, when you own you might gain equity (if the market holds)
However, the expenses are what kill you. All of the repairs, appliances, major expenditures such as the roof, trees falling, taxes, etc etc
Buying a home can certainly work out positive if some of the factors end up in your favor. But if you have 40k saved up, I would just say invest it and keep saving, find a nice home to rent from a quality landlord, let them worry about the property long term.
tying all of your saving up in a house could definitely leave you 'stuck'
Depends on situation. Over here it's more profitable than renting.
My house was reasonable, 3 bed 2 bath for 95k. It's just a piece of shit.
>All of the repairs, appliances, major expenditures such as the roof, trees falling, taxes, etc etc
Those problems can largely be avoided. Trimming trees, making sure the electrical, plumbing, and roof are up to date, all that needs to be taken into account. You can't just go in blind.
Right now I have some minor drainage problems because the city sewer line is out of date, and we have recently had major storms. But the city's going to fix it so it's not too bad but when I bought I made sure the plumbing was up to date so it wouldn't be a big problem f something happened.
>Is it red pilled or not?
Bluepilled unless you marry and fill it with children. The housing meme is a means to create an ever increasing amount of debt slaves and increase the amount of money (((they))) earn through inflating property prices and mortgages.
Singles with houses are the single most degenerate economic trend we witness in modern society.
Only if the building atleast 100 years old. Living in new degenerate buildings is on the same degeneracy level as sucking dick.
Tbh when interest rates go up in a couple of years the housing market is going to collapse worse than 2008 so if you are getting a long term mortgage now and expecting to still be paying low rates on it in the future you are going to end up homeless, more than likely. At least that is what is going to happen in the UK.
Or read the millionaire next door which explains how buying a house and staying in it after it is paid off will help make you rich
>100 year old houses
Ugh, no. In america they were built with shitty building materials and with shitty designs. They're all falling apart. It'd be better to tear them down and build them properly with modern materials and designs meant to last. Obviously I don't mean to buy shitty suburb housing.
Fixed rate mortgage means your interest rate doesn't go up unless you refinance (you don't have to). You might be thinking of adjustable rate mortgages but nobody's that stupid after 2008.
yeah dude it's an investment and shit just keep the house in good shape and you can sell it for even more later instead throwing thousands of dollars down the drain by renting
Yes but the constant maintenance (even in the form of your own labor) ends up being the "money saved" from not renting.
Its not a positive or a negative, just ultimately a wash. There is nothing wrong with owning, its just not necessarily a good movie from purely a financial standpoint.
If one of my friends had 40k saved and asked me what to do with it, the last thing i would recommend would be 'buy a house' unless they really needed one for a specific reason.
Home boy sounds like he is young, and wants to stay mobile, no reason for him to get tied up in home ownership right now.
That is why you dont get an adjustable rate loan...
Buy a boat OP, you get a place to live that you can move around at will.
the housing market only benefit the banks
Just put an offer for a house for 100k, 3 bedroom house with a fenced yard and a garage. House is worth 150k easily. Put in a full cash offer, and luckily i have all the cash unlike OP cuckboy who will most likely borrow money and still be fancy rent.
better save some more money OP if your goal is to not be a cuck.
I bought a home outright when I was in my 20s, and it was ok, but it's not the promised land that renters think it is.
There are lot of advantages to renting that you don't realize until you're tied down with home ownership
Basically, op, you're smart to be considering all angles of this
>tfw a house in my parents neighbourhood is going for 1.6 million and 18 years ago it was only 186k
How little money do you make for that to be an issue?
Buy a home that costs 30K. If that's a mobile home so be it. Or be a debt slave the next 15 to 30 years. You don't need a mansion
In Germany there are houses that hundreds of years old that are beautiful and incredibly sturdy, that's probably what he meant
Fact: homes haven't gained value over inflation in the past 100 years.
You pay double to triple the purchase price of the home over a 30 year loan. Congrats, you paid $600K to get $300K in equity (adjusted for inflation).
Buying a home means you pay maintenance, taxes, and insurance on top of the mortgage.
Your down payment can't be used to invest in index funds (11% avg yearly return).
Houses are bullshit, pushed by the people selling them.
Is this the Toronto metropolitan area? Because holy shit those property prices are insane
Yeah probably. And thinking about it OP is australian so he's doublefucked on housing. I don't know where he got the idea that houses are cheap.
>Bluepilled unless you marry and fill it with children
>unless you marry and fill it with children
How can you be red pilled and not have children?
tfw my parents bought their house for $100K 30 years ago and sold it for $4 million
congrats on buildign up a warchest.
you'd be dumb not to buy.
t. oldfag
Depends on the price of the house and how much you typically spend relative to your paycheck. I will say this, when I moved from a 1br shit apartment to a 3br house, my total monthly payment for housing only went up by about $150/month. Definitely affordable and a decent chunk of that monthly payment is going towards equity in the house. Of course, in some areas it is obviously better to rent. Also, forget the nonsense people will tell you about being reckless in your 20's. Once you hit 30 you won't feel old, you'll feel exactly the same as you did the day before. As someone who knows many people who spent their 20's partying and throwing their money into a pit, I can guarantee you will regret not building a good financial foundation earlier in life. You won't remember much of the reckless partying but you will remember the debt and the extra hours you have to put in at work to make up for lost time.
>but nobody's that stupid after 2008
There are people here in the UK that have taken out interest-only mortgages and don't realise they have to pay back the capital at the end. They think it's just free money. Some of these loans are now reaching the end of their term. There are plenty of stupid people around unfortunately.
Wait for the economy to crash in 2017
All of those things you are paying for while you rent, its just built up into your monthly payment so you don't really see it. If you are half-decent at financial planning none of that shit will be a problem.
Good fucking book
Pleb tier. Once you know how to budget there's nothing more it can teach you. Read The Intelligent Investor by Benjamin Graham.
Which companies? I want to short their stock.
OP here
There are nice, 3 bedroom houses in good areas are going in my city for 200k. My other option is to buy an apartment for even less.
I just see it as instead of sinking money in to Mr. Chong's investment, I could instead get my money back later when/if I sell. Or just keep buying properties in to the future and rent them out myself.
I just cant get a solid answer though. Even in this thread there is many different opinions. What else could I invest in to make myself money? I dont know where to start
Property taxes suck near me. They cost 7500 a year where I grew up. That comes out to $225000 over 30 years. You can grab a house for $200k there. Upkeep interest on the loan is easy another 200k in that span. So your in 700k in a house that would probably be worth dick because it will be torn down because it will be almost 100 years old.
this. i'll likely never own my own house. Fuck renting though, I'm happier helping out my parents at home
All housing should be collectively owned.
>What else could I invest in to make myself money?
You could wait for the next stock market collapse and buy in when it crashes. Right now is a bad time to buy because it's in a bubble.
Your other option is start a small business, but that's very risky.
Consider this: will you need 3 bedrooms in the next 7 years? Or are you single and not planning to have children that soon? Why not get a 2BR1BA for $120k and live in that until you need more, then rent it out when you move?
That's some crazy shit
Fuck me if this isn't the comfiest thread on Sup Forums in a long time. And people think it's full of nothing but degenerates. LOOK AT ALL THIS USEFUL INFORMATION!!!!!!
It really depends on how much money you have. Also keep in mind the stock market gets better returns than real estate. My parents house has doubled in value in 22 years. Had they invested that money instead, it would be 5.43 times instead of 2 (assuming 8% yearly improvement) so you have to live somewhere, but see howthe total differences stack up before you decide.
Well YES, but a LOT of Sup Forumssters have guzzled the childfree koolaid as if it were water so I wanted to explain it all thoroughly.
First off, don't think of a house as an "investment" unless your plan is to either fix it up and sell it or rent it out from day one. A house is just a way to fill a need; i.e. its a place to live. The way to determine if you should buy a house or not is to look at all your options and pick whichever is cheapest while still maintaining the lifestyle you want. There is nothing wrong with renting if it meets your needs and is cheaper than buying. It is not throwing money in a hole anymore than buying food is throwing money in the toilet. Here are a few reasons I purchased a home recently:
1. I hated dealing with landlords who raise rents every year and don't like to actually maintain the apartment.
2. I needed a yard for my dog and I was feeling cramped in a 1br apartment.
3. I like being able to make my own changes to my living space.
4. It was actually cheaper in the long run to buy a house rather than to keep renting.
5. I definitely plan to fix this house up and rent it out once I move.
But, I do NOT consider my house an investment at this stage, it is definitely a money sink if you think of it in those terms. From a purely financial standpoint, I'd be better off moving into a dumpster 1br apartment and investing all my money in index funds.
And that is what you should invest extra money in btw, index funds. Go to vanguard.com.
Owning is expensive, yeah you arent paying rent, but you have to pay for any repairs that have to happen, taxes, mortgage, etc. Use the money you have to generate more money, not throw it into a huge liability. inb4 houses are an asset, they're not, they cost you money and you dont really own it until you pay off the mortgage.
Do NOT buy a home!
It's a SCAM!
A home is NOT an asset, it's a liability!
Please, listen to the words of an experienced person.
You don't want to own your own home, only for INVESTING purposes only.
Take the advice:
Just buy a manufactured home
Are houses really that cheap in the US? For even 200k here you would get a shack from the 1940s with a busted up foundation, and it would be an old meth lab and degenerates would keep showing up at your house thinking their dealer still lives there and isn't in prison.
To add to this,
the best housing situation I've been in was right before I bought my home. I had my money invested in such a way that I received a passive income large enough to pay my rent (and even a little bit left over). I had all the flexibility of a renter, without having to scrape up rent every month.
Needing a place to live is also a liability. Everyone needs to live somewhere. You can either pay money to a landlord, who then uses that money to pay the mortgage, taxes, maintenance, etc. plus keeps a small profit on the top, or you can buy your own house and pay all those people directly. Not all people should buy a house, and not all people should rent. It's a lifestyle choice like any other with pros and cons. Calling it a scam is just incredibly naive.
>. Even in this thread there is many different opinions.
That is literally Sup Forums's raison d'etre.
>investment
Houses are good for one thing and one thing alone.
Namely falling apart.
The best way to win this is to buy something on the verge of falling apart and fix it up with your own sweat and tears, but forget having a life with that kind of approach.
In general buying an apartment would be best, honestly.
Then put the rest of the money into various other things and accrue enough cash to buy more apartments to rent out.
In the Midwest & the south yeah their cheap on either coasts it's $500k for a nice one
Im not calling it a scam, Im saying you shouldn't go into it thinking of it as an investment or that it'll be cheap.
I think I'd rather have a condo or even townhouse.
I can't stand yard work.
Unless you can make a real comparison between renting and owning with specific situations and calculate the NPV and run a breakeven analysis, it's nonsense to say whether renting or owning is better.
exactly
Exactly
>heated walk/driveway = never shoveling snow
>astroturf lawn = never doing yard work
I have a three bedroom small house on a tiny lot for 130K. Deeded lake access, new roof, Bone dry foundation.
This. Everyone's situation is different.
>>heated walk/driveway = never shoveling snow
That is such an incredible waste of energy I can't even look at you. Just stop.
Why is everyone posting in this thread as if any of this matters? You're going to be fighting for your life soon, and you are worried about owning a house? How will you "own" your house when people will be roaming past your street every day trying to break in or set your place on fire, and the people who used to be paid to protect you from such things will be too busy fighting in the civil war to help anyone, and the nearest torn up grocery store will have been empty for two months, and you've run out of cans of ravioli and never had a real father who would teach you how to hunt and preserve deer or cook venison?
No one will believe I have millions of dollars, but I do, and I have no intention of buying a house. Instead I moved into my mother's basement earlier this year because I know an inescapable defeat when I see it, and I'm simply waiting to die. I want to be able to say goodbye to her and help her exit gracefully when it's time. There's no point in indulging in a normie delusion like "DUDE HOUSE LMAO" when you know the nukes are going to fly any day now, or if you're LUCKY that won't happen and instead everything goes according to the Jews' plans, your neighborhood will be ruined with force-injected shitskins Western Europe style within 4 years whose kids will attack, rape, and murder any kids you might make the cruel mistake of bringing into a ZOG planet like this
>Right now houses are very cheap
FUCK YOU
tfw own two houses but still support HIllary
t. glorious liberal elite
It's a sellers market currently. Hold out until home prices crash.
So how's the new season of The Walking Dead so far?
Yeah don't you Kangaroos have a leaf type bobble happening? It's the great globalization bobbles when all of a sudden the 1% all over the world are gobbling up land in any country that will sell to them. Shiat, our economy is pretty much driven by the bobble now, fuck that shit. I'll just move into some vacant investment home bought by some offshore chink or poo and it will be like a banana republic when they come back and find it's been turned into a crack whore den. Fuck this gay earth.
Mortgage piece is reasonable. But I get dicked over on property taxes and insurance. There is the maintenance piece too.
My income is decent but since I'm not married or have children da gumbmint takes taxes out for Jamal and Tyrone.
>Calls it a scam verbatim
>Guys I never called it a scam!!!
Another consideration: everybody one day will want to own a home. Every middle age person I talk to wishes they had started paying off a home sooner.
I keep hearing from everyone "now is the time to buy" because everything is really cheap and interest rates on loans are low. As an example, if my mother were to sell her house now she would get LESS than what she paid for it 10 years ago, despite having poured 60k into improvements. I dont know if it is like this everywhere, I'm just giving you guys an indication of what things are like where I live.
Therefore, I feel like I may be missing out on a rare opportunity window. My life is already full of regrets, I dont want this to be anothet missed opportunity that could really help set me up in life. So theres that added pressure as well.
Why dont you buy a house here?
With that you can buy a big house or a 3bedroom apartment in a nice place
>I dont want to wake up at 30 and realize all I did was work my 20s away to pay the mortgage jew
You are either paying your own mortgage jew, or your landlords mortgage jew. Either way, the mortgage jew gets it.
Wait, you are talking to two different people.
I was the one that called it a scam, he didn't.
Look at the ID tags.
In my opinion, it IS a scam.
It's only worth it if you are INVESTING in homes; i.e, buying and selling, renting to others....etc.
I prefer this one.
Just make sure the payments are well within your means.
Like many have said don't buy at the limit of your ability to afford.
What about condos or townhomes? More condensed and seems more ideal for a single person, maybe a couple and one kid.
Houses are only an investment if you can flip them in the short term, because the housing market is going to crash hard in the coming decades.
We're already reaching the point where nobody can realistically afford to buy a home anymore, and it's only going to get worse as millennials continue to settle for shit paying jobs and automation puts more and more people out of work. All these people saddling themselves with $500k+ mortgages for modest houses are in for a rude awakening if they plan on flipping it ten years from now.
if you don't own your own home or any kind of property you could potentially live in, you are literally a cuckold
>muh freedom, muh flexibility
you are literally being cucked by jews and thanking them for the privilege
just think about what kind of people rent vs own. poor, gay millenial betas rent, rich, chad alphas own. that's literally the definition, you OWN,
but the truth is cucks will always be cucks, go ahead and rent, more REIT dividends for me
It's best to bite the bullet, pay it off as quick as you comfortably can, and then have that as YOUR asset to defend and do with as you please, owned solely by YOU. The variables behind land values can be some fuckery and depend year-to-year, but that is part of the overall risk of property ownership I am guessing. I do feel like I'm getting fucked with $1k rent and could be paying less on a mortgage for a much better pad.
This is like buying a car vs buying a truck
>If you dont care about resell buy a car / manafactured house
>If you care about resell buy a non manafactured house / truck
Of course biggest difference is you will always lose money with a vehicle, with a house it can go either way
They are cheap in areas that are not close to major cities/states
I bought a house last year in California for 220k. It's a 4 bed, 2 bath 1840 sqft in a small town in northern forested Cali. I bought the house next to a retirement area and the retirement area one block away aremore valuable. In the year I've lived here 4 houses on my block sold for 20-50k more than my house, even though my house is bigger and on a bigger lot.
Every year tha min wage goes up, property value goes up. Every time there's inflation, value is inflated. California has guaranteed min wage increase for the next 5 years which means for the next 5 years a house in my price bracket will only go up in value barring significant damage and wear and tear.
I thought it was the right time to invest in a house for these circumstances.
>thinking about buying your first home
Am I the only one older than 18 on this board, if you don't have 2 or 3 houses by 25 you are wasting your life
>guaranteed replies
I am surprised you were able to do that well in any part of california, good show faggot
Significantly (and I mean SIGNIFICANTLY) less stupid.
Look. The bottomline is that buying up more space than you need is both a waste of money and an active contributor to increased prices (thus destructive to your nation) and debt slavery (thus destructive to yourself).
I'll also go ahead and agree that the liberal trend towards cuckshe-- tiny houses is a good thing from this perspective though a lot of times they end up squatting on huge ass property in the process which once again does horrific things in the long run.
don't buy big house. your kids will leave after 18 to collage so it will stay empty anyways...
its just 4 walls don't waste too much money on it.
>buying up more space than you need
Please frtiz tell me how much space I need?
Does it include a space for raping my daughters?
In the South and the Midwest, yes.
>TFW you can buy a 3/2.5 with a pool and a giant ass garage and 2 living rooms for under 400K
Did I mention that you can see the intercoastal of Tampa Bay from the front balcony?
This used to be m Granadma's house.
Feels good to be Floridian
>Does it include a space for raping my daughters?
Ideally you'll want some space to host paying guests as well.
Some chairs, maybe a TV with footage, a small fridge with coke and red bull to stock up on calories while they wait their turn.
do not buy now. Market crash after election time is the best time to buy. We're on a bubble right now. When it crashes you will get so much more for your money.
A house is only an "investment" if, after you begin renting it from the bank, you rent it out for a positive cash flow, more money than the mortgage, taxes, maintenance costs
Buying a house and living in it making no income off of it and hoping to sell it for more than it cost is called "speculation"
Most houses end up costing you double what your mortgage is for, add in maintenance and taxes, almost no one really makes a profit on a house
Renting is not "throwing your money away" your are paying for shelter and storage of your belongings
A change in jobs, career, if renting it's easy to pick and move to where the jobs are, if owning (bank rental) the process is much more difficult, more so when you are in a downturned area
When you rent, maintenance is the problem of the owner, taxes, everything, you pay to sleep their
"Owning", as long as you have a mortgage, you pay all costs but the bank really owns your home until you pay it off, you are renting from the bank but carry all the risk and liability
Even when you fully own a home you don't really, you still have to pay rent to the county in the form of property taxes, assessments, mill levys, try not paying and see what happens, county, city will make you get permits to do anything to your property, try doing an addition without permission
Getting you to buy a house, helps to create a stabilized community, you buy a lot of stuff and are a pig they can bleed for tax revenue
Fuck it ...travel. you are only young once, money comes and goes....
What is like having land (like parking lot for RV car or land to dock a boat) but not actual house?
>money comes and goes
Only if you spend it. A wisely-invested dollar can return many more dollars over the span of a few decades. Even on a solid middle class income in the U.S., a family that practices good financial habits can retire comfortably in their 40's and still leave a significant inheritance for their children.