Current Events > Is is weird to still be renting in your 30's

(+) Yeah! (+)

Shouldn't you own a house by then?

Depends entirely on your career path and lifestyle.

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Who cares?
Some people don't wanna rent, some people don't wanna buy.

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'shouldn't' implies someone's actually expecting you to do it
no one expects it, and no one cares
do whatever you want with your money

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Who the heck has 200k for a down payment to spare at 30?

Nah owning a house means youre a slave to corporate overlords with no real freedom to leave whenever you want

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No. Rent is so expensive that almost nobody in that age group can even afford a down payment on a mortgage. The cost of living is unfairly high for our generation. You cant save for a house when it costs $1500/month to rent.

No

Life is hard and you never get the things you should have by the time you should have them.

Be happy at any point to not be homeless and broken mentally and physically.

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TopKekBro posted...

Who the heck has 200k for a down payment to spare at 30?

Who the heck pays 200k for a down payment?

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Not really. My living situation has steadily improved. If I would have bought the first house I could it would be a shit-hole in the ghetto. My credit is getting better and I have some money put aside.

I'm not married and my kid is already out on her own. I own property such as a car and professional equipment. I'm also a small business owner so that keeps me busy.

Having friends that have rushed to buy a house, I'm glad I didn't leap without looking. Plus I don't want to pay more for a house than I need to just because the market stinks.

Adult reasons.

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Lol, no. Not everybody gets into a legit career path in their early 20s. If you dont find the right landing spot until youre 26-27 - which is nothing in the long term scheme of a career - then youre unlikely to be into a house by the time you hit 30.

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If the median income in the US is necessarily below 76k per individual, how can someone pony up for a down payment and afford something worth 4 times his entire annual pre tax income?

I'm married and 30, I like renting my place. When something bad happens, I text my landlord. When something breaks, I text my landlord. When I want to move, I text my landlord.

I am afraid of the stress that comes with home ownership and don't want to live somewhere for 20 years

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ThunderTrain posted...

Who the heck pays 200k for a down payment?

200k around here is a decent house

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Guerrilla Soldier posted...

'shouldn't' implies someone's actually expecting you to do it
no one expects it, and no one cares
do whatever you want with your money

Indeed

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ThunderTrain posted...

Who the heck pays 200k for a down payment?

Someone who doesnt want to pay more in mortgage than rent

I owned a house, made 125k selling it and will probably rent for the rest of my life

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Id rather rent than own. We have our own house and it's a pain in the ass. You're responsible for everything, where as when you rent everything is taken care of by the owner. Something breaks? Call maintenance.

Life was much simpler then

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I hate people who age shame or age gatekeep.

Some of us have kinda miserable lives and should be applauded just for surviving.

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Ive rented and owned and I VASTLY prefer renting.

Consistent bills every month and if something breaks its not my problem. I also have the freedom to come and go as I please.
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TopKekBro posted...

Someone who doesnt want to pay more in mortgage than rent

I put nowhere near that amount down for my house lol

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I just did a mortgage affordability calculator here. With a 100k salary and $150,000 down payment you qualify for a $550,000 home. That's basically the low point of 1 bedroom condos here.

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TC must be a boomer.

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Home ownership is one of those things you should accomplish in your early 30s. I'm 32 and own a condo.

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Real estate is a bit of a farce. I prefer renting and parking my wealth in better investments.

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ThunderTrain posted...

Who the heck pays 200k for a down payment?

In Canada that's how much you need for homes in the GTA area and Vancouver. Where I live they go for 800,000 to 2 million and these arnt mansions or anything just regular homes.

Got to move out of the area to afford a house.

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Like I can just reach into my pockets and whip out 200k whenever I need to.

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REMercsChamp posted...

I just did a mortgage affordability calculator here. With a 100k salary and $150,000 down payment you qualify for a $550,000 home. That's basically the low point of 1 bedroom condos here.

Exactly.

how can you earn 100k, which is probably 80k after takes and save 150k for a down payment by your 30s?

TopKekBro posted...

Exactly.

how can you earn 100k, which is probably 80k after takes and save 150k for a down payment by your 30s?

You can if you're successful enough but a large percentage of the population doesn't really achieve this.

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REMercsChamp posted...

You can if you're successful enough but a large percentage of the population doesn't really achieve this.

Yeah if youre making 800k a year yes.

but if youre making 100k?

REMercsChamp posted...

I just did a mortgage affordability calculator here. With a 100k salary and $150,000 down payment you qualify for a $550,000 home. That's basically the low point of 1 bedroom condos here.

Then don't live in a place with such a high cost of living. You can find some really nice houses for less than that.

COVxy posted...

Depends entirely on your career path and lifestyle.

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you'e either paying rent to a landord or to the government

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Fha loans are 3.5 percent down payment

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Renting until marriage.

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i'm still renting and im closer to 40. don't really care either way. renting has its benefits.

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Conflict posted...

I feel like so many people on here would be happier if they weren't at all concerned about how their life 'should' be going at a certain age

People who really don't think about that seem to fall into NEETdom.

Nope.

I live somewhere with few other jobs available in my field. Buying a house would make it a pain in the ass to advance my career.

Esrac posted...

Then don't live in a place with such a high cost of living. You can find some really nice houses for less than that.

Yeah cool man I'll just pack my life up and move out into the middle of nowhere and get that giant house I've always wanted for $100,000. Thanks bro!

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The classic boomer argument is Would you rather pay $1,500 a month to someone else or $1,500 to something thats yours?

1. It becomes yours in 30 years so youre basically almost dead by the time that happens.

2. Is it really YOURS? It is city land subject to city law, city taxes and home insurance inspections. Sounds like a more ambiguous landlord to me.
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EffectAndCause posted...

The classic boomer argument is Would you rather pay $1,500 a month to someone else or $1,500 to something thats yours?

1. It becomes yours in 30 years so youre basically almost dead by the time that happens.

2. Is it really YOURS? It is city land subject to city law, city taxes and home insurance inspections. Sounds like a more ambiguous landlord to me.

>30 years
>Almost dead

Yeah, if you buy your house at 50 you have a point. You want to be paying rent into your retirement years and be subject to some landlord?

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REMercsChamp posted...

>30 years
>Almost dead

Yeah, if you buy your house at 50 you have a point. You want to be paying rent into your retirement years and be subject to some landlord?

yeah what happens when you make 20 years of payments and then move somewhere else. made all those payments for nothing. can't take your house with you.

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REMercsChamp posted...

You want to be paying rent into your retirement years and be subject to some landlord?

Why not? If the place, price and landlord are decent, who cares if I own it for the remaining 20 years of my life I MIGHT have left? Im not taking my house into the afterlife.
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REMercsChamp posted...

Yeah cool man I'll just pack my life up and move out into the middle of nowhere and get that giant house I've always wanted for $100,000. Thanks bro!

Don't be dumb.

Your current location isn't so essential to your life that you couldn't move. I was just looking at houses for sale in texas and you find a brick house with 4 bedrooms, 2.5 bathroom 2600+ soft, backyard with a pool, 3 car garage, etc for $345,000 in Katy, Tx. Katy, Tx being roughly 30 miles from Houston.

That is hardly the middle of nowhere and you'll get a much better quality of living than a one bedroom condo for $550,000.

SauI_Goodman posted...

yeah what happens when you make 20 years of payments and then move somewhere else. made all those payments for nothing. can't take your house with you.

Are you joking? If you made payments you now have equity that you can get back when you sell it. If you were renting you just pissed the money down the toilet and have nothing to show for it.

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Esrac posted...

Don't be dumb.

Your current location isn't so essential to your life that you couldn't move. I was just looking at houses for sale in texas and you find a brick house with 4 bedrooms, 2.5 bathroom 2600+ soft, backyard with a pool, 3 car garage, etc for $345,000 in Katy, Tx. Katy, Tx being roughly 30 miles from Houston.

That is hardly the middle of nowhere and you'll get a much better quality of living than a one bedroom condo for $550,000.

I live in Canada. It's not the same as the states. You either live in a ridiculously expensive urban area (there's 3 of them) or you live in the middle of fucking nowhere.

My city has 10% of the population of Canada in it. My province has 50% of the population.

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EffectAndCause posted...

Why not? If the place, price and landlord are decent, who cares if I own it for the remaining 20 years of my life I MIGHT have left? Im not taking my house into the afterlife.

That makes some sense only if you never expect to leave anything to your children.