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Forum » What's with the misc obsession with home ownership ?
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Thread: What's with the misc obsession with home ownership ?

post 1518316731 09-03-2017, 02:21 PM
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#31
  1. CityJaeger
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I'm 27 and have about 20K in savings and I'm not even thinking about buying a home yet.

What is every guy in here obsessed with having their homes paid away before 35 ?

I could not careless as for now, I don't want to spend the next 20 years slaving away for the bank (Until you have paid your loan, the house belong to your bank).

I'am not a marriedcoper and have no kids so why should I buy a big home with garage when I could just rent a two bedroom appartement at a moderate rent and save the rest until my life perspectives change and pay 80% of the cost of my future house upfront ?
post 1518316821 09-03-2017, 02:22 PM
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#32
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Who was rent
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post 1518317131 09-03-2017, 02:26 PM
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16 years to go boyo and the house is mine huehuehuehuhe
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post 1518317171 09-03-2017, 02:26 PM
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#34
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Who was getting old?
post 1518317441 09-03-2017, 02:29 PM
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#35
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lmao @ have "home paid for" but still gotta pay for upkeep and yearly $10k prop taxes.... would rather spend $1k a month and rent and save the rest.
Keep rep trading out of your sig line miss
post 1518317461 09-03-2017, 02:29 PM
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#36
  1. Fuqdatass
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But who was equity and not giving away rent money every month?
I don’t want a large farva, I want a goddamn liter of cola

Send In The Clowns
post 1518317481 09-03-2017, 02:29 PM
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#37
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Because they've been socially conditioned to do so
post 1518317531 09-03-2017, 02:29 PM
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#38
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inb4 3 page thread from 30+ year old miscers mocking mid 20's misers for paying their high rent apparently oblivious to their infinite mobility.
Originally Posted By thorpowers⏩
Because they've been socially conditioned to do so
don't forget to repaint the white picket fence while your wife picks up Skylar from baseball practice boyo.
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post 1518317561 09-03-2017, 02:30 PM
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#39
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Originally Posted By Fuqdatass⏩
But who was equity and not giving away rent money every month?
you can pay $300k for a house, and yearly $10k prop taxes + upkeep forever

or $1k a month comparable rent forever and save the difference

renting is way cheaper and easier.
Keep rep trading out of your sig line miss
post 1518318011 09-03-2017, 02:35 PM
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#40
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My career is still work in progress so why should go buy and risk a negative equity by reselling when moving out to another country ?

Buying house should for established men with families with lots in savings not youngsters barely beginning as an independent adult.
post 1518318481 09-03-2017, 02:41 PM
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#41
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Originally Posted By BrahPlease⏩
you can pay $300k for a house, and yearly $10k prop taxes + upkeep forever

or $1k a month comparable rent forever and save the difference

renting is way cheaper and easier.
This

property tax > interest on mortgage > upkeep

**** like replacing the roof, water heater, appliances, plumber

gets expensive real fast
post 1518318621 09-03-2017, 02:44 PM
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#42
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Originally Posted By BrahPlease⏩
you can pay $300k for a house, and yearly $10k prop taxes + upkeep forever

or $1k a month comparable rent forever and save the difference

renting is way cheaper and easier.
I can turn around and sell my house tomorrow and have six figures in the bank though. So I'm good with not renting.
I don’t want a large farva, I want a goddamn liter of cola

Send In The Clowns
post 1518318691 09-03-2017, 02:45 PM
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#43
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You're always paying for someone's home ownership. Your rent money is paying the owner's mortgage. If you rent, it's a rational approach to pay the least amount possible so you can save as many $$$$ as you can and put down a gigantus deposit on your own place. This would give you a healthy chunk of ownership from the get-go, giving you access to better borrowing conditions and equity to leverage should other opportunities arise. The ideal would be to buy outright. As Felix Dennis said in his book 'How to Get Rich', the secret to wealth boils down to ownership.

This can be a suitable approach for the UK (where property is typically a good investment ... not always, as it's about location, property in question, timing and ultimately price paid / amount borrowed). May not be a suitable approach for elsewhere.

This is not financial advice, buyer beware
post 1518318861 09-03-2017, 02:46 PM
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#44
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Looks like we have some George Clooney, jet setting, young bachelors on our hands.

In my area the rent is almost as much as my mortgage. I already live in one of the most desirable job markets in the country and I dont have to plans on moving far.

If anything I keep building equity and have a nice house and a huge yard. I bought 3 years ago and I could make 80k on it if I sold right now.

Treat it as an investment and buy smart and it will work out great.

Or I could live in a ****ty $1000 a month apartment with no privacy and keep throwing money into thin air.
post 1518318871 09-03-2017, 02:47 PM
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#45
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Cheap city=buy
Expensive city=rent
post 1518319121 09-03-2017, 02:51 PM
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#46
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lol at getting a house @ 35. brb paying it off until im 65. no thanks jeff.
post 1518319261 09-03-2017, 02:52 PM
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#47
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owning a house = profit

i bought my first house in 2012....sold it last year and make 450k profit....

own >>>>> rent
post 1518319321 09-03-2017, 02:52 PM
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#48
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Originally Posted By CityJaeger⏩
I'm 27 and have about 20K in savings and I'm not even thinking about buying a home yet.

What is every guy in here obsessed with having their homes paid away before 35 ?

I could not careless as for now, I don't want to spend the next 20 years slaving away for the bank (Until you have paid your loan, the house belong to your bank).

I'am not a marriedcoper and have no kids so why should I buy a big home with garage when I could just rent a two bedroom appartement at a moderate rent and save the rest until my life perspectives change and pay 80% of the cost of my future house upfront ?
Automated income + low living expenses = Financial Independence = Early Retirement

It can take you 10-15 years to pay off a mortgage if you buy within your means.

You don't have to buy a house, you can buy a condo if you'd like.
post 1518319381 09-03-2017, 02:53 PM
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#49
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Originally Posted By BrahPlease⏩
you can pay $300k for a house, and yearly $10k prop taxes + upkeep forever

or $1k a month comparable rent forever and save the difference

renting is way cheaper and easier.
300k for a house? LOL ...
post 1518319461 09-03-2017, 02:54 PM
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#50
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Lmao try and get a 50k deposit on for a 1 bed flat in some chit part of London.
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post 1518319991 09-03-2017, 03:02 PM
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#51
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People who rent are mentally ill and need electroconvulsive therapy. Blows my mind how people literally cannot see that purchasing a house is an investment whilst renting is like setting your money on fire every month.

Euthanasia or sterilization should be standard for people who rent.
fist yourself
post 1518320051 09-03-2017, 03:02 PM
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#52
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You're either living with housemates or loud neighbors stomping around while you're trying to sleep
Or you're paying double renting a house

When I pay my house off soon I'll have zero concern about losing my job or whatever since my effective rent will be 200 a month

Plus the thing has appreciated 100k in 4 years

But yeah, if you enjoy getting cucked by landlords raising rent, walking around in your living space whenever they want and stealing your deposits, you go right ahead

That all being said, people buying right now at the top are dumb af.
Make Europe Germany Again
post 1518320151 09-03-2017, 03:04 PM
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#53
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Who was buy house cash, fix it up, stay in it and then eventually sell it out or rent?
post 1518320381 09-03-2017, 03:07 PM
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#54
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But who was property value appreciation?
READ THIS: You know how your Visa gift cards usually end up with $0.63 left on them, so then you carry them around for months before you eventually just throw them away? Well, Tarck's here to tell you that most charities have a PayPal link on their website where you can quickly donate that balance (even if you don't have a PayPal account). It only takes a moment and it beats literally throwing money away. Thanks for your time; we now return to your regularly scheduled cuckold and FA threads.
post 1518320411 09-03-2017, 03:08 PM
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#55
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Originally Posted By BrahPlease⏩
you can pay $300k for a house, and yearly $10k prop taxes + upkeep forever

or $1k a month comparable rent forever and save the difference

renting is way cheaper and easier.
Where on earth are you paying $10,000/year in property taxes???

Also, who was equity? Who was appreciation?

Just lol
post 1518320511 09-03-2017, 03:10 PM
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#56
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Originally Posted By BustaCapp⏩
People who rent are mentally ill and need electroconvulsive therapy. Blows my mind how people literally cannot see that purchasing a house is an investment whilst renting is like setting your money on fire every month.

Euthanasia or sterilization should be standard for people who rent.
You are setting your money on fire every month paying property tax you guys are not subtracting out costs in your "profits". You are breaking even at best
post 1518320941 09-03-2017, 03:16 PM
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#57
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Originally Posted By refsum⏩
You are setting your money on fire every month paying property tax you guys are not subtracting out costs in your "profits". You are breaking even at best
council tax is cheap in england.
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post 1518321061 09-03-2017, 03:17 PM
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#58
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Originally Posted By refsum⏩
You are setting your money on fire every month paying property tax you guys are not subtracting out costs in your "profits". You are breaking even at best
In Arizona, the average property taxes are $2600 on a $200,000 house. That's $216/month in property tax, and comparable rent would probably be $1400ish assuming it's a 3/2. That's a big difference. Even with other repairs, insurance, etc. I don't see where you'd be breaking even. You'd be ahead in most cases.
post 1518321281 09-03-2017, 03:20 PM
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#59
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Originally Posted By refsum⏩
You are setting your money on fire every month paying property tax you guys are not subtracting out costs in your "profits". You are breaking even at best
Lmao. I bet you'd like that to be true so it could justify you giving away money renting every month but it's just not true. Cope more.
I don’t want a large farva, I want a goddamn liter of cola

Send In The Clowns
post 1518321391 09-03-2017, 03:21 PM
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#60
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Originally Posted By CityJaeger⏩
Until you have paid your loan, the house belong to your bank
Thats just an excuse, nothing is absolute. You could have a house paid off anywhere and the County decides they need tear down houses in your vicinity for a greater good (like a highway).

Your situation is different since you actually save money. The average rentcel spends $1000 a month on a 1 bedroom and can't fathom owning anything bigger than their small ass apartment because they can barely afford where they are right now, or they blow all their savings every weekend. Hence rentcels use the 30 Year argument because they act like 15/20 year mortgages don't exist or paying principle isn't an option. So a $200k house makes the average millennial renter piss their pants, plus the housing market sucks right now. Housing prices will settle eventually, rent prices will always rise (or will get torn down and replaced with even more expensive apartments).
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