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Forum » Singlecels - Buying A House
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Thread: Singlecels - Buying A House

post 1698096743 02-19-2024, 07:30 PM
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Singlecels - Buying A House

What made you pull the trigger to buy a house if you're single? Did you have 20% (or more) down? Did you give up on the idea of renting near the city or something? How old were you?

I'm 28, after a bonus coming soon I'll have around $120k liquid. This is enough for a nice house 30-35 minutes away from the action. It would cover 20% down, moving costs, closing costs, emergency fund, probably some extra furnishing. A significant part of me is saying to pull the trigger on something like this, but wanting advice of wiser miscers.
post 1698096883 02-19-2024, 07:34 PM
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I was 26 when I built my first house.

I did it because I thought it was a better use of my money and skills compared to renting, not because I wanted to be able to poop in the yard.

That was just a bonus.
post 1698096983 02-19-2024, 07:37 PM
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It's too late op. Too late.
post 1698097273 02-19-2024, 07:45 PM
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Bought my house at 25, I was renting at the time and that was $750, my mortgage (bought in a dip) was going to be $1100/mo, so was well worth it; house originally sold for $300K+ and I only paid $169k for it.

So nice having a place you own, I can do whatever I want with it and don't have to worry about a landlord or shared walls with a neighbor; maintenance can be annoying, but if you have money set aside for emergencies it's not too bad.
Short cuts to success are often paved with lies.
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Why Teens shouldn't cut/Lack of progress thread- http://forum.obnoxiousbrutes.com/showthread.php?t=169272763&p=1397509823#post1397509823
post 1698099323 02-19-2024, 08:42 PM
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Originally Posted By 401Delta⏩
I was 26 when I built my first house.

I did it because I thought it was a better use of my money and skills compared to renting, not because I wanted to be able to poop in the yard.

That was just a bonus.
Did you feel like there was a ton of savings potential via the building route? Any regrets on that?
Originally Posted By HateLiberals⏩
It's too late op. Too late.
Yeah tbh. Might just keep being a rentcel till I can buy a house in full with cash tbh.
Originally Posted By gbullock32⏩
Bought my house at 25, I was renting at the time and that was $750, my mortgage (bought in a dip) was going to be $1100/mo, so was well worth it; house originally sold for $300K+ and I only paid $169k for it.

So nice having a place you own, I can do whatever I want with it and don't have to worry about a landlord or shared walls with a neighbor; maintenance can be annoying, but if you have money set aside for emergencies it's not too bad.
Any recollection of how much you had down, and what amount you had left over after?
post 1698099993 02-19-2024, 09:00 PM
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Originally Posted By gbullock32⏩
So nice having a place you own, I can do whatever I want with it.
post 1698100943 02-19-2024, 09:26 PM
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Originally Posted By Visel⏩
Did you feel like there was a ton of savings potential via the building route? Any regrets on that?
Building your own house requires a lot of work unless you already know and have good subs lined up.

No regrets, but if I were to do it over again I would've bought land instead of a city/subdivision lots to build on.

I hated living in a neighborhood near a bunch of other kunts, and a few of my homes were in subdivisions with a HOA, which have even bigger kunts.

I live on acreage now where I really can poop outside if I want to.
post 1698101233 02-19-2024, 09:33 PM
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Basically I got a good house in a good area for free

The year is 1999

Australia is emerging from the Asian financial crisis

The Howard government is handing out $14,000 in cash to anyone that builds a new home (first home owners grant)

Banks are accepting the $14k as down payments

Land is being sold for as little as $90k in suburbs close to the city

Prices are rising and r32 puts down his $14k as surety against the land, and in the time it takes for the land developers to release the blocks for building, values have increased 50% or more - which equity r32 uses to secure a construction loan

Once done r32 lives in the house a few months then leases out on a long term lease at a profit and pisses off to live in the CBD

TLDR: r32 got a free house
post 1698101313 02-19-2024, 09:36 PM
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Originally Posted By Visel⏩
Did you feel like there was a ton of savings potential via the building route? Any regrets on that?



Yeah tbh. Might just keep being a rentcel till I can buy a house in full with cash tbh.



Any recollection of how much you had down, and what amount you had left over after?
I put 20% down, had maybe $25k left, spent $8k on furniture and all of what I wanted in the house, and I always keep $6k (at least) for emergencies. Water heater went out a few years back, that was about $800 total, my dog threw a toy and managed to break my front window, that was $600, pipe had a pinhole leak and ruined a wall and that was $400.... so things pop up when you don't expect it. I have a homeowners insurance so most of it was covered; I have ARW (American Residential Warranty) but look around and see who is best for you, there are many companies that will cover various things. Also keep in mind the general work, mowing the yard, spraying for bugs/weeds, painting as it fades, ect all adds up. Utilities too, power, gas, trash, all of it.
Short cuts to success are often paved with lies.
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5/10/16: Finally back to lifting, light but improving.

Why Teens shouldn't cut/Lack of progress thread- http://forum.obnoxiousbrutes.com/showthread.php?t=169272763&p=1397509823#post1397509823
post 1698101453 02-19-2024, 09:41 PM
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Covid era 2020. Interest rates at all time lows. It was now or never. I moved to a state with no income tax and the house had a detached studio apartment with a tenant already in it that came fully furnished (I own everything that came in the apartment). Put down 10% but within 1 year the house appreciated so much that I had the house appraised and now have 60% equity in the house and immediately got out of PMI, that was all luck. But with the rental income it cost me $1k month plus utilities to own the home. Plus all the saved money from no state income tax seemed like a no brainer. I’m 3 blocks off the intracoastal and 1 mile from the downtown city I live in. Everything seemed too perfect and it worked out flawlessly so far.

Edit: I also now have someone who is renting one of the rooms of the main house so I now pay about $600/month to own my house per month and that’s including utlities. In the summer it’s more like $900. Property taxes and insurance rates have gone up since I moved in so my mortgage payment has gone from 2.3k up to 2.65k/month.
post 1698101523 02-19-2024, 09:45 PM
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Originally Posted By Visel⏩
Yeah tbh. Might just keep being a rentcel till I can buy a house in full with cash tbh.
If the house you want today costs 600k, by the time you save up the cash to buy it outright the house may cost significantly more*


*Depending on your market region of course.


Your question isn't really about money though, is it? It's about "If you're single should you buy a house"? You wondering if a house is too much for one person? It might be, depending on you. I personally like lots of space...
post 1698101633 02-19-2024, 09:52 PM
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Bought way too late because when I was young I listened to personal finance advice that was far too conservative. Things like “only buy a house if it’s 2-3 times your income, preferably closer to 2x”. Things like “only buy a house if you know your absolutely certain you are going to live there for 7 years, ideally 10+”

From the same morons who tell you to not invest in the stock market unless you are absolutely certain you won’t use the money in at least 10 years. Otherwise use a savings account that doesn’t even beat inflation and taxes

Don’t listen to financial advice that’s too conservative

But I still wound up just fine. Just lost a lot in opportunity cost
Best lifts:
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post 1698101823 02-19-2024, 09:59 PM
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Rent some rooms to people and live free
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post 1698102683 02-19-2024, 10:37 PM
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I don't get lonely living alone in my 3bd 2bth house..In fact the lifestyle is addicting having that much freedom..Best times of my life srs

Might wanna wait till rates go down tho OP

But if I was in your situation I would buy right now then refinance later...I will not go back to renting ever
Journal: https://forum.obnoxiousbrutes.com/showthread.php?t=139898123&page=240
post 1698102883 02-19-2024, 10:48 PM
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I would have to live with my parents for a few years to afford. I would need a massive cash buffer to afford it responsibly.
post 1698102903 02-19-2024, 10:49 PM
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Originally Posted By WasThaBestMan⏩
Kind of right, but due to every other safety clause in life- the lowest common denominator (trash IQ people) need to be accounted for. If we gave everyone the freedom to do as they please there would be garbage citizens making a mess so I think overall this idea is the best unless you know how to regulate it better. I believe property tax goes towards the town budget for repairs, etc.. but of course, thats all bullchit, too.
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