Current Events > Convince me why I should rent instead of save up to buy a condo/house

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Oakland510_
07/17/18 10:50:10 PM
#1:


I lived with my parents all my life but I want to live on my own and I want to live on my own ASAP. I am just making up numbers but it would probably take me 20 years of saving up to save up like $250k right now. Would I be wasting money to rent when I can live rent free now?

The answer to solve all problems is to get a better job so I can afford to rent and be able to put money in my savings account each paycheck but I don't know if I am just too lazy to go to school or I have actual learning disabilities.

Never did well K-12 and I dropped out of college after 4-5 years basically achieving nothing but now that I am older maybe that might change but I am not motivated to try to go back to school and do well
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MrK3V
07/17/18 10:50:54 PM
#2:


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MrK3V
07/17/18 10:51:30 PM
#3:


Also you don't save up 250k to buy the house up front
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A Novel Idea
07/17/18 10:52:11 PM
#4:


MrK3V posted...
Also you don't save up 250k to buy the house up front

TC, you should rent because you don't know this simple fact.
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"People don't matter to you. Human relationships don't matter to you."~StarryKnights
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50Blessings
07/17/18 10:52:42 PM
#5:


Why don't you just save up for a downpayment and get a mortgage?
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Oakland510_
07/17/18 10:52:48 PM
#6:


MrK3V posted...
Also you don't save up 250k to buy the house up front


In the Bay Area/Northern California, maybe. I don't know the exact numbers now
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MrK3V
07/17/18 10:53:28 PM
#7:


Oakland510_ posted...
MrK3V posted...
Also you don't save up 250k to buy the house up front


In the Bay Area/Northern California, maybe. I don't know the exact numbers now

Lmao
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Oakland510_
07/17/18 10:53:55 PM
#8:


A Novel Idea posted...
MrK3V posted...
Also you don't save up 250k to buy the house up front

TC, you should rent because you don't know this simple fact.


Like I said I just made up some numbers

50Blessings posted...
Why don't you just save up for a downpayment and get a mortgage?


How much I need to save up for a $500-$650k condo or small house?
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SauI_Goodman
07/17/18 10:54:45 PM
#9:


If you rent you have more freedom to up and leave. When you buy you are stuck with it until you can sell it.
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Currently playing: BioShock 2 (x360), Monster Hunter World (xbone), H1Z1 (ps4)
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A Novel Idea
07/17/18 10:55:03 PM
#10:


I'm sorry I was a dick TC, try this 4 year old calc:

https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html
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"God I really want you to keep posting."
"People don't matter to you. Human relationships don't matter to you."~StarryKnights
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DavidWong
07/17/18 10:55:56 PM
#11:


idk how it works in America but in Australia you need 5% deposit and then around 3% for other fees, then you can borrow the remainder
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NYmasajista
07/17/18 10:57:37 PM
#12:


The housing bubble will burst again sometime soon. How old were you during 2008-9 when millions of people were getting foreclosed out of 'their' houses?

I was living in the foreclosure capital, Las Vegas, at the time which has definitely skewed my view away from ever buying a house. Most of my coworkers now are younger than me so were in middle or high school at the time and therefore have pretty much no idea of what things are like then.

Wait for the next crash and if you still have a job look into buying a place then.
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#13
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Oakland510_
07/18/18 11:37:34 AM
#14:


Any more opinions
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Kineth
07/18/18 11:40:11 AM
#15:


Property tax, among other reasons.
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If you're not looking for any honest discussion, agreement, meeting halfway or middle ground, don't bother arguing with me. Selfish narcissists need not apply.
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MFBKBass5
07/18/18 11:40:56 AM
#16:


A Novel Idea posted...
MrK3V posted...
Also you don't save up 250k to buy the house up front

TC, you should rent because you don't know this simple fact.

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Oakland510_
07/18/18 8:28:39 PM
#17:


last bump everr
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