Current Events > Dont buy a house

(+) Yeah! (+)

Gr8B8M8.

The only reason to not buy a house is if you move a lot.

ArtiRock posted...

The only reason to not buy a house is if you move a lot.

couldnt you just rent it out?

R1masher posted...

couldnt you just rent it out?

It's still a pain when you are moving about. IE, if you buy a house in Utah, and then you move to Texas, it's annoying to deal with tenants etc.

1337toothbrush posted...

Counterpoint: I bought a house and don't have to worry about rent or landlord bullshit, plus all the money I paid into the house stays with me instead of being sucked into the rent hole. Good luck saving up and buying your dream home with cash when you're paying rent higher than mortgage payments and regularly jack up the rent on top of that.

This lmao

I bought my condo townhouse 5 years ago and its still been the best financial decision of my life.

I paid 190k for it and its worth 350k now. Thats a better return than stonks (about 84% for my home while the S&P 500 was about 55% for a 5 year return) plus a mortgage is way more leverage for less interest than you can get buying stocks on margin.

BlazinBlue88 posted...

When the hell did you get married dude?

Like a month ago, did you throw out the invitation?

I bought a house in 2008 for $200k

It's now worth $375k

Guess I should've been paying rent (that goes up every year instead of my fixed mortgage payment) instead

Apodyopsist posted...

Like a month ago, did you throw out the invitation?

Nah this is all on you. I even checked NFA in case I missed a topic about it. Lol

Congratulations man.

TwigsthePnoDude posted...

I think thats awesome for you, but real estate doesn't always go like this.

I mean, yeah, if you're stupid and have absolutely no idea how to buy a home it can go pretty sideways. But you damn near have to make an effort to lose money on a house (buying/selling t the wrong time, neglect, not doing an inspection, taking on too much of a fixer-upper, desperation etc).
As long as you take care of it, a house is basically guaranteed to appreciate in value, bare minimum retain its value.

R1masher posted...

where can I get a 4% savings account?

Pretty much anywhere man. Chase, Discover. Tons of banks and financial institutions have 4%+ FDIC insured high interest savings accounts. Take advantage of the interest rates, it adds up. I think Chase is 5% atm.

1337toothbrush posted...

But if they happen to sell, you could get hit with a shitty-ass landlord out of nowhere.

If he happened to sell it would be because he no longer can keep up with hiring people for upkeep. Hes an old dude that rents out a handful of houses for cheap because he does it as a retirement plan. Dude even gifts his tenants $100 every Christmas just because hes that awesome. During covid he let us go 2 months without paying rent and we didnt even ask for it.

--Zero- posted...

If he happened to sell it would be because he no longer can keep up with hiring people for upkeep. Hes an old dude that rents out a handful of houses for cheap because he does it as a retirement plan. Dude even gifts his tenants $100 every Christmas just because hes that awesome. During covid he let us go 2 months without paying rent and we didnt even ask for it.

If only all landlords were like him.

If you can afford to buy a house, its better to do so because you are basically paying yourself. Buying an asset. Rather than paying someone else for something you dont get to keep

1337toothbrush posted...

Counterpoint: I bought a house and don't have to worry about rent or landlord bullshit, plus all the money I paid into the house stays with me instead of being sucked into the rent hole. Good luck saving up and buying your dream home with cash when you're paying rent higher than mortgage payments and regularly jack up the rent on top of that.

I bought a house with a mortgage a few years back. Ive since sold it and am saving to buy one for cash. I could already buy one but not one that I really want. Im currently able to save between 4 and 5 grand a month while maintaining a pretty sweet lifestyle, so it makes more sense to do that. Especially as you can get 8% interest savings accounts here fairly easily.

Dont buy a house in Florida. Hurricanes and flooding is your future.

There are some genuine reasons why buying a house isnt the right move for everyone but the rationale OP gives is crazy.

But I bought one and the mortgage is paid off as of a few years ago, do I need to get rid of my house?

MabusIncarnate posted...

But I bought one and the mortgage is paid off as of a few years ago, do I need to get rid of my house?

Rent a mobile home, sell the house, and let all the money ride on bitcoin

Blbmbr666 posted...

Yeah that's not actually an issue right now, most rent is cheaper than most mortgages due to the housing market fuckery.

Someone is lieing to you...

Glob posted...

I bought a house with a mortgage a few years back. Ive since sold it and am saving to buy one for cash. I could already buy one but not one that I really want. Im currently able to save between 4 and 5 grand a month while maintaining a pretty sweet lifestyle, so it makes more sense to do that. Especially as you can get 8% interest savings accounts here fairly easily.

Anytime I see stuff like this on GAMEFAQS of all places, I scratch my head and wonder why people lie about their income on this website of all places lol.

i got two houses for some reason

Will_VIIII posted...

Bad advice

Ill one up it to terrible device

Nukazie posted...

i got two houses for some reason

Only 2? I keep picking them up off the side of the road and have like 12 now

Calamity_Kaiju posted...

Anytime I see stuff like this on GAMEFAQS of all places, I scratch my head and wonder why people lie about their income on this website of all places lol.

No need to lie. I earn a decent wedge, get my living costs paid for me as part of my package and live in Vietnam where leisure costs are incredibly low.