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Feel like a huge cuck if I buy a home right now, wat do?
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04-17-2021, 08:34 PM
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#1
- climberbrah
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- climberbrah
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Feel like a huge cuck if I buy a home right now, wat do?
Need a home for my growing family
make over 300k a year
all homes now are minimum 800k (for VERY modest ones). more realistic is the 900 to 1mm range for starters srs (still modest homes).
Covid made everything jump even higher, and I feel like a total cuck loser handing a boomer 1 million for his 2k sq foot home he bought for 95k in 1995.
Or, im handing 1 million to some chinese flipper who bought it for 600k 4 years ago.
I can afford it, but I'm morally opposed in incentivizing these people with capital gains.
What do?
make over 300k a year
all homes now are minimum 800k (for VERY modest ones). more realistic is the 900 to 1mm range for starters srs (still modest homes).
Covid made everything jump even higher, and I feel like a total cuck loser handing a boomer 1 million for his 2k sq foot home he bought for 95k in 1995.
Or, im handing 1 million to some chinese flipper who bought it for 600k 4 years ago.
I can afford it, but I'm morally opposed in incentivizing these people with capital gains.
What do?
04-17-2021, 08:41 PM
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#2
- climberbrah
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- climberbrah
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Originally Posted By S0Jack3d⏩
alos makes me feel like a cuckyou can just rent one of my properties, ill only charge you double my mortgage
is crypto maxxing the only way out of this cuckery?
04-17-2021, 08:43 PM
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#3
- Baylorballs
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- Baylorballs
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1. I don't believe OP makes 300k a year
2. Where do you live where 1 million gets you a decent starter home? NY or Cali?
3. You're always overpaying if you buy "retail" off the MLS. Get a fixer upper and put 70-100k into it, BAM... 200k+ of equity if your area is really that expensive for Top of the line, updated home.
2. Where do you live where 1 million gets you a decent starter home? NY or Cali?
3. You're always overpaying if you buy "retail" off the MLS. Get a fixer upper and put 70-100k into it, BAM... 200k+ of equity if your area is really that expensive for Top of the line, updated home.
Just trying hard to not be a fat sack-o-chit.
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04-17-2021, 08:47 PM
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#4
- climberbrah
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- climberbrah
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Originally Posted By Baylorballs⏩
1. my base is 175 and target bonus should be about 125 minimum this year (was 110 last year).1. I don't believe OP makes 300k a year
2. Where do you live where 1 million gets you a decent starter home? NY or Cali?
3. You're always overpaying if you buy "retail" off the MLS. Get a fixer upper and put 70-100k into it, BAM... 200k+ of equity if your area is really that expensive for Top of the line, updated home.
2. Where do you live where 1 million gets you a decent starter home? NY or Cali?
3. You're always overpaying if you buy "retail" off the MLS. Get a fixer upper and put 70-100k into it, BAM... 200k+ of equity if your area is really that expensive for Top of the line, updated home.
2. NY, a commutable suburb with non failing schools and over 50% american born residents is 800-1mm for a decent home MINIMUM
04-17-2021, 08:51 PM
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#5
Originally Posted By S0Jack3d⏩
Exactly this. Go buy a duplex. Live in one side and rent the other side to live "free"you can just rent one of my properties, ill only charge you double my mortgage
Then BRRR (Buy, Rehab, Rent, Refinance) a couple of fixer uppers.
After a few years go buy your dream home using cash
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04-17-2021, 08:54 PM
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#6
- MountainLion84
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- MountainLion84
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If you’re going to live in it long term why not OP?
04-17-2021, 08:55 PM
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#7
- climberbrah
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Originally Posted By iloveus⏩
living in a duplex is cuck life as wellExactly this. Go buy a duplex. Live in one side and rent the other side to live "free"
Then BRRR (Buy, Rehab, Rent, Refinance) a couple of fixer uppers.
After a few years go buy your dream home using cash
Then BRRR (Buy, Rehab, Rent, Refinance) a couple of fixer uppers.
After a few years go buy your dream home using cash
brb shared wall with my loser neighbors so i can hear them having sex every night and arguing
brb most duplexes are in relatively cheaper/more run down areas of town
not the best option
yeah duplex would be so cool (only ~700k for this)
actually edit, that 700k for JUST one side of the duplex lol......
https://www.trulia.com/p/nj/cliffsid...10--2005868397
04-17-2021, 09:06 PM
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#8
- Destor
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- Destor
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House prices in the US have increased almost non stop since the 1960s. You say you’re worried about handing money over to these people for appreciation on their properties and yet history indicates you’d be in the same position in a handful of years
I doubt you make $300k+ and don’t already understand this
I doubt you make $300k+ and don’t already understand this
04-17-2021, 09:08 PM
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#9
- basedcap
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- basedcap
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I feel you brah
I'm a high earning 25 year old in the same position. I'm cool with renting for now as prices have decreased.
There has to be some kind of market correction in my area. The average salary is like 50k and the average house is over $1m. 90% of people my age are not even close to buying something. Either there is a market correction within the next 5 years or people wait to inherit their parent's house.
I'm a high earning 25 year old in the same position. I'm cool with renting for now as prices have decreased.
There has to be some kind of market correction in my area. The average salary is like 50k and the average house is over $1m. 90% of people my age are not even close to buying something. Either there is a market correction within the next 5 years or people wait to inherit their parent's house.
04-17-2021, 09:09 PM
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#10
- adamsz
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- adamsz
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I feel you bro
prices here in this city (just LMAO at portland) have gone up 12% since this time last year, and inventory is at the lowest point since RMLS started recording. Chit is completely ridiculous.
Bout to put in an offer on a house tomorrow, only reason I might have a chance at getting it because the location isn't prime. Feel like I'm getting cucked tho.
On the other hand I don't see prices going down anytime and the mortgage rates are only going to go up from here in the short term (up to like 3.125 from 2.65ish which was the historical all time low over the summer)
prices here in this city (just LMAO at portland) have gone up 12% since this time last year, and inventory is at the lowest point since RMLS started recording. Chit is completely ridiculous.
Bout to put in an offer on a house tomorrow, only reason I might have a chance at getting it because the location isn't prime. Feel like I'm getting cucked tho.
On the other hand I don't see prices going down anytime and the mortgage rates are only going to go up from here in the short term (up to like 3.125 from 2.65ish which was the historical all time low over the summer)
Awesome pics. Great size. Look thick. Solid. Tight. Keep us all posted on your continued progress with any new progress pics or vid clips. Show us what you got man. Wanna see how freakin' huge, solid, thick and tight you can get. Thanks for the motivation.
04-17-2021, 09:11 PM
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#11
04-17-2021, 09:15 PM
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#12
- adamsz
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Originally Posted By Destor⏩
LOL I'm fawkin Gandalf brah^^ Are you two the same people?
“I feel you breh”, two paragraphs following, posted within a minute of one another. Like wtf is that
“I feel you breh”, two paragraphs following, posted within a minute of one another. Like wtf is that
strong tho
Awesome pics. Great size. Look thick. Solid. Tight. Keep us all posted on your continued progress with any new progress pics or vid clips. Show us what you got man. Wanna see how freakin' huge, solid, thick and tight you can get. Thanks for the motivation.
04-17-2021, 09:18 PM
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#13
04-17-2021, 09:21 PM
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#14
- friesbruh
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- friesbruh
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Inb4 RamseyCells
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04-17-2021, 09:22 PM
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#15
Originally Posted By climberbrah⏩
Living in a duplex is cuck life but it's about long term.living in a duplex is cuck life as well
brb shared wall with my loser neighbors so i can hear them having sex every night and arguing
brb most duplexes are in relatively cheaper/more run down areas of town
not the best option
yeah duplex would be so cool (only ~700k for this)
actually edit, that 700k for JUST one side of the duplex lol......
https://www.trulia.com/p/nj/cliffsid...10--2005868397
brb shared wall with my loser neighbors so i can hear them having sex every night and arguing
brb most duplexes are in relatively cheaper/more run down areas of town
not the best option
yeah duplex would be so cool (only ~700k for this)
actually edit, that 700k for JUST one side of the duplex lol......
https://www.trulia.com/p/nj/cliffsid...10--2005868397
After a few years of renting out you will buy your dream house.
Just don't let short term fear ruin your dreams
You have to suffer for your goals
When you want something you're going to do everything for it.
It's just something to think about.
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04-17-2021, 10:01 PM
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#16
The way I figure it, renting is essentially throwing away $12k-20k a year (versus adding to home equity), though with no maintenance/upkeep/land costs, and a monthly rate that increases over time (non-fixed).
Mortgaging is adding to your home equity, with maintenance/upkeep/land costs, a fixed rate that looks more appealing as years go by due to inflation, and an appreciating asset.
Now when you compare the two, obviously the second seems more appealing, right? However OP's income of $300k+ might make the "throwing away $12k-20k a year" from renting feel like an inconvenience, as opposed to a terrible pain.
Mortgaging is adding to your home equity, with maintenance/upkeep/land costs, a fixed rate that looks more appealing as years go by due to inflation, and an appreciating asset.
Now when you compare the two, obviously the second seems more appealing, right? However OP's income of $300k+ might make the "throwing away $12k-20k a year" from renting feel like an inconvenience, as opposed to a terrible pain.
04-17-2021, 11:16 PM
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#17
- woofermazing
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- woofermazing
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I mean, it's possible that the market crashes and you can scoop up something for nothing.
The feds have exploded the money supply though. Over a third of all dollars in existence were printed last year. It's more likely that inflation pushes prices up even higher.
You're gonna want to have hard assets, and renters are about to get raped.
The feds have exploded the money supply though. Over a third of all dollars in existence were printed last year. It's more likely that inflation pushes prices up even higher.
You're gonna want to have hard assets, and renters are about to get raped.
04-17-2021, 11:21 PM
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#18
- AlwaysFocus
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I thought I over paid in 2016. Currently up 300k, maybe more. But im not a guy who flips houses. I just live in em or rent em out to rentcels so the mortgage is covered.
Ill just keep buying high or low. I got another 30-40 years before Ill sell any.
Ill just keep buying high or low. I got another 30-40 years before Ill sell any.
04-18-2021, 09:46 AM
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#19
- elterrible987
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- elterrible987
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If you think the market will crash then rent
04-18-2021, 09:56 AM
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#20
- WinningBrah
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If it's your primary residence then suck it up *******.
>makes $300k and doesn't realize only paying 3% interest on a primary residence will make up for stagnating prices
Alternatively move to a less cucked market. I'm closing on a place that's appreciated less than 2% per year since 2004 and 2010 (past sales)
>makes $300k and doesn't realize only paying 3% interest on a primary residence will make up for stagnating prices
Alternatively move to a less cucked market. I'm closing on a place that's appreciated less than 2% per year since 2004 and 2010 (past sales)
04-18-2021, 10:04 AM
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#21
- MiscInformed
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Originally Posted By climberbrah⏩
Buy some land and build on it instead.Need a home for my growing family
make over 300k a year
all homes now are minimum 800k (for VERY modest ones). more realistic is the 900 to 1mm range for starters srs (still modest homes).
Covid made everything jump even higher, and I feel like a total cuck loser handing a boomer 1 million for his 2k sq foot home he bought for 95k in 1995.
Or, im handing 1 million to some chinese flipper who bought it for 600k 4 years ago.
I can afford it, but I'm morally opposed in incentivizing these people with capital gains.
What do?
make over 300k a year
all homes now are minimum 800k (for VERY modest ones). more realistic is the 900 to 1mm range for starters srs (still modest homes).
Covid made everything jump even higher, and I feel like a total cuck loser handing a boomer 1 million for his 2k sq foot home he bought for 95k in 1995.
Or, im handing 1 million to some chinese flipper who bought it for 600k 4 years ago.
I can afford it, but I'm morally opposed in incentivizing these people with capital gains.
What do?
Interest rates right now are ridiculously low. I wish I'd had those kind of rates when I bought houses in the past. It's hard to pass up rates like these, so people are rushing to buy, adding more pressure to home prices.
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04-18-2021, 10:08 AM
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#22
- WinningBrah
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Originally Posted By MiscInformed⏩
This guy gets it. If you're a flipper prices might be too high but people are right to be rushing into homes before interest rates go up (they will)Buy some land and build on it instead.
Interest rates right now are ridiculously low. I wish I'd had those kind of rates when I bought houses in the past. It's hard to pass up rates like these, so people are rushing to buy, adding more pressure to home prices.
Interest rates right now are ridiculously low. I wish I'd had those kind of rates when I bought houses in the past. It's hard to pass up rates like these, so people are rushing to buy, adding more pressure to home prices.
04-18-2021, 10:14 AM
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#23
- WinningBrah
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Originally Posted By Anachron⏩
Lol just RIP thenOP is a beavercel. They don't get to lock in for 30 years, only 5 at the most ( well, maybe 10, but that's rare and not worth the higher interest ).
04-18-2021, 10:17 AM
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#24
- northernlights7
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As opposed to what? Waiting a year or so until the market crashes to save some money on total cost of the house not including interest rates while giving some landlord rental money you'll never get a dime back on? Might as well get a great intest rate locked in when you still can with no early repayment pentalities. If the home seller doesn't cuck you based on inflated prices now in base selling price, some bank/mortgage lender will cuck you via chittier interest rates if you wait for the housing market collapse hoping for a better base price.
04-18-2021, 10:18 AM
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#25
- dopamine72
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lol @ having all the requirements necessary to buy a real house and still complaining about it. Interest rates are the lowest they have ever been in the entire history of this country. If you don't capitalize on this right now you are legit retarded and I feel bad for your family.
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04-18-2021, 10:19 AM
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#26
Originally Posted By WinningBrah⏩
All of this. Holy chit... common sense not even once.If it's your primary residence then suck it up *******.
>makes $300k and doesn't realize only paying 3% interest on a primary residence will make up for stagnating prices
Alternatively move to a less cucked market. I'm closing on a place that's appreciated less than 2% per year since 2004 and 2010 (past sales)
>makes $300k and doesn't realize only paying 3% interest on a primary residence will make up for stagnating prices
Alternatively move to a less cucked market. I'm closing on a place that's appreciated less than 2% per year since 2004 and 2010 (past sales)
We are putting in an offer on a house tomorrow that is definitely at it the pricing peak for the time being, but it will be a mortgage that we feel comfortable with (most important thing to consider when buying a LTR, fukk the underlying).
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04-18-2021, 10:19 AM
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#27
- UtahHiker
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Originally Posted By climberbrah⏩
this costing almost 700k is such an abomination lmaobrb bought a 3 bed 3 bath new construction house in Utah with a huge yard in the countryside for 400k... prices in my hood have already gone up to 470-480k since i bought last fall.
seems like you are in a tought spot where COL just makes home prices absurd. I'm moving to Boston in 3-4 years and really dread the prices I'll be walking into...
04-18-2021, 10:35 AM
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#28
- Immichaelski
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- Immichaelski
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One bedroom apt here are up to 1000 a month. I work two jobs just to pay bills
04-18-2021, 10:56 AM
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#29
- JayDigital
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Bought a $600k house six months ago, now "estimated" for $680k... feelsgoodmane
Buy a house when you need it, that also fits your personal needs and professional situation. Disregard external factors, though hard to do at times.
Buy a house when you need it, that also fits your personal needs and professional situation. Disregard external factors, though hard to do at times.
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