people who think theyre getting rich off of the property investment they live in, are the plebliest of the plebs.

we get it, you can't afford a home yet

-no man wants to pay rent
-people make bank by renting out their homes to lower class people who pay off their mortgage
-something to resell with an increasing market value
-can do what you want

Renting is like 900 for a 2 bedroom apartment no garage. My mortgage all utilities comes out to 1150. brb 4 bedroom house, rent 2 rooms out to 2 cool guys @ 450 a pop. 250 bucks a month I pay.
Bachelor pad for days.

i can afford mulitple homes actually...?

but when it came down to the decision of either a mortgage downpayment or another investment....i decided to buy bitcoin when it was less than $50 a pop...

...and guess who never has to work again?

enjoy your 1% housing gains per year tho bubba (lol)

Is that what you do? basically a realtor? I sell insurance rn.

https://www.businessinsider.com/actu...a-house-2011-5

I'll stick to my VTSAX

but you live in an apartment

...

cope af

-0.575% return? ouch man

of course? owning a home is vastly overrated for a single dude.

i invested my money elsewhere and its paid off in droves.

Lol, OP is trying to justify his home purchase.

Sometimes. Chinese don't seem to mind since real estate is how they launder money. They'll plunk down $1M for some craphole and then rent it out or even let it sit empty. Otherwise, it's mostly people who bought before prices really started to go crazy, so they are doing ok. I mean, just in the last 5-6 years prices have doubled. Peppering my angus for an incoming correction any day now.

When I made this thread, I was speaking more of a "finances aside" because the piece of mind when owning a home. Even if you have a mortgage, no the bank doesn't really own your home, but you have a loan with the house as collateral. It's yours, as long as you abide by rather simple rules that you most likely will have even if you don't have a mortgage. FHA loans do have more stipulations but still better than renting. Financially speaking, long term gains are in the favor of the home owner.

Some of you are talking about how your rent is less than what your mortgage would be. Well, you have a smokin' deal going, and it's like that everywhere. Also even if you are breaking even, you get none of that back. In most cases, owning is financially better. I really do not understand why someone would rent a house that cheap. Most of the country it isn't like that.

A lot of you bring up maintenance. It's not that bad, as long as you keep up on it. You let problems fester you're in a world of hurt. Also when something does need work, it's an opportunity to upgrade it and increase the value and sellability of your home. Play your cards right and you'll get your money back. It's all about the long run, and consider the same house with the going rate on rent, the owner will be money ahead. Roof doesn't just go out, unless it's a hail storm or something like that, and insurance will cover that. HVAC (my house has 3 separate HVAC systems) may get old and need to be replaced, but things like roofs and HVAC units are big items when you are selling your home.

Back to the good deals on rent. Some friends of mine have a nice big house with in ground pool, clubhouse, nice property in a nice area they are paying only $1200 a month rent, was $1100 last year. Well bad news for them is that their landlord decided he's moving out of state and has decided to sell the property so he won't renew their lease. He is giving them an opportunity to buy the house at a really good price, but even then, they have figured the mortgage will be more than what they are now paying in rent, but they will be hard pressed to find anything like that in the same price range.

renting is only worth it if you are saving money on the side and look to buy your own in the near future.

lol at buying a house and living there for like 5 years. then have to move and sell and realize you were just renting an overpriced price pos because all you did was pay the bank interest plus your down payment.

jokes on you

Location: Bronx, New York

lol I feel the opposite. If you don't live under slumlords you don't have to worry about anything as a tenant other than paying rent. You can also pack up and leave at your convenience to adapt to changes in career and lifestyle. You buy somewhere where your neighbors are ****heads, the school district is no good, there's more crime than expected, it doesn't turn out to suit your lifestyle, the house has hidden problems... it's a lot harder to make changes without taking a big hit.

The financial decision depends on where you live tho I guess. I'd easily pay 300-400 extra just on the mortgage alone on an equivalent unit, then there are condo fees, taxes, electricity and any repairs I'd need to make.

insurance
property tax
upkeep
etc.
etc.

I think this is cope because you can't afford a house in a nice area.

So your telling me if you could afford a house in the nicest neighborhoods in your city you'd be like nah I'd rather rent?

My property tax is $1800 per year (srs). If I were to rent the house I live in I'd be paying $1600-1800 per month. My escrow, which covers mortgage, property tax, HOA and home-owners insurance is only $900.00 per month.

I could literally move out right now and rent my house for double what my monthly note is.




Maybe in Cali and NYC its better to rent. But in 95% of America its better to own.

If you bought your house 5 years ago in 2013, you would more than get your money back and then some. If you had rented you wouldn't get anything back. However, we don't know what is going to happen 5 years from now. No, homeownership isn't a short term thing. Lets say you do have to sell for less than what you paid for it because the market is down. You can then buy another home for the deflated value. Long term, you will gain. I remember during the recession a lot of people who owed more on their homes than what they could sell it for and were stuck in it or had to short sale it or foreclose. I'd say that don't buy unless you know you'll be there 10 years at least.

nah...I dont really care if miscers own or rent.

I've owned a house for a decade. It's not been worth it.

That includes everything. Its called a mortgage as they handle everything for you and calculate it all. 3.25 @ 30 years. No PMI = VA loan. So 950 is mortgage/tax/insurance. Then internet, water, electric, gas. comes out to like 200 bucks. (I also have R65 insulation in my house) so its air tight and super efficient. Spent more in a condo than I do in a house 4x its size in utilities.

1150 is my monthly expense. -900 from room mates. 250 out of my pocket. Way cheaper than renting a 1/2bedroom apartment alone and im happy. Upkeep is fun, stay on your crap and you really dont have to worry about things breaking down really. Plan to have this paid off in 5 more years. 30 year in 7 years.

Best thing about owning a home, is you can personalize it however you want with no one to tell you no. I wanted a mancave. I finally have one. Even added a pull up bar in middle of garage pic on top lol. Why not?

Whatever makes u happy

Homo pad for life.

Nice house brah. Once you get it paid off then you will be pocketing more money than some kid that lives in his mom's basement for free. That's how wealth is really built. My house has a full finished basement that has everything there so I could make a full functioning kitchen and bedroom and could rent out. Haven't decided if I want to do that. If I meet the right people I might, but as of now, waiting.

brah new houses are built like chit

everyone tryin cut corners to buy that shiny new beamer

My parents bought a new home and it's a giant POS. You can literally rub the ultra thin paint off the interior walls by touching it with your finger lol.

TFW when you own in one of the most competitive neighborhoods anywhere. Takes the sting out of paying for that new roof, I guess. I'll sell it for $1M srs. Buy me out and I'm moving into that Asian kid's trailer.

https://www.redfin.com/blog/2017/12/...omebuyers.html