got a duplex in my name that's rented out and once I get my job back I'm buying a nice 1 bedroom condo

Eh, I live for free in an apartment and have very little interest in purchasing a house. It's not that I'm particularly happy where I'm at, but buying a house is basically slavery nowadays where I live. If I knew I wanted to be where I'm at for another 20 years I'd do it, but I know for a fact that I don't want to be here. So I'd rather save on rent and GTFO sooner. Boomers in my city try to squeeze every penny out of the sale of their homes, so people often end up buying like 10-20% over what the true market value is and then it takes a few years for the market to catch up to what the actual value is.

When I move somewhere else though, I'll likely rent for a little while to figure out the market then buy.

some good home success stories ITT

I bought a house last summer (15-years @ 2.625%, wishing I would have gone 30-years instead, but maybe I can refinance this summer). The house was on the market for one day and had 11 offers, had to beat all those *******s in three rounds of bidding. Beautiful 2br/3ba house (pretty small but newly renovated and very nice, in Westport KCMO which is the nightlife/entertainment district and lots of development planned over the next 2-3 years) and I rent out a room to my buddy. He moves out this summer though, I'm not sure if I'll find another roommate or just go solo (still a good investment either way)

Bought in 2015 in a very stable midwest area (stable regarding house prices) and my house is valued up about 20% since then.

Nothing is better than renting rooms to bros when you're single.

Something to keep in mind. Your house goes up in value 15-20%, yay you make money when you sell


But the house you are buying next also likely went up 15-20% in value. Likely cancelling out any money made lol

New construction is probably the best bet these days.

Mortgage rates are insanely low

If you are going to be in an area for 2-3 years or more you would be insane to not buy right now assuming you can afford it

Here it costs roughly $500 more on average to rent the same house you could buy. Yes you will have to pay for upkeep, but you are gaining equity as well

Buying isn't always right for everyone but right now it's a no brainer for a lot of people

Our last house we bought in 2019 for 370k, put some money into remodeling and sold it for 530k like 14 months later lol

Yeah gains on a primary residence tend to be a zero-sum game unless you sell and move to an area with different economic conditions. Otherwise if the market skyrockets and you sell for a gain, you’re buying back into the same market where all the prices just skyrocketed

Similarly it can make sense to sell at a loss if the market is depressed, because you’ll be buying back into a depressed market. But a more ideal situation would be buying more property in the depressed market and hanging onto the loss until conditions swing in the other direction