Garage/Home Ownership Thread

Last house I was looking at would've been perfect. Like 13000 sq. ft., offered $520k, about $40k over asking and we just got a rejection letter. :(

I think I am competing again business owners looking for a house with this much space. And if I get a crappy house, I am competing against investors. So I am kinda forced to look at nicer houses that don't meet my criteria to stay within my budget.

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No American dream. No quiet suburb street to park my car.

Too bad I couldn't have been born in the 60s. Damn boomers buying houses for $5k...

Don't mind me, just wrenching in my garage.

Just been acting like a super salty millenial lately.

I should probably start drunk posting pictures.

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Ignore the trucks. Yuck

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Dreams of working in my garage with my assistant.

Hanging out with friends and wrenching together.

:(

>cuckifornia
There's your problem, lady!

Ignore the house as well, it's an utterly tasteless McMansion.

Not sure if OP is actually looking for a house or just picturing himself looking for a house if he weren't a NEET loser.

this pic made me cringe so hard

I feel you OP, for what it's worth I'm in a similar position. The housing market out here in Colorado is stupid as shit. I just want a nice big garage, and a house that's in decent shape. I'm genuinely considering the idea of buying some land in the mountains and building a giant garage with a little apartment on top of it, and just living in there.

I know this car. LeMons build right?

>ready to buy house after saving up for a while
>want something less than $100k that is basically a garage with a house attached
>find a few good examples
>credit score 750
>financial history clean as a whistle
>apply for home loans so I can really start shopping
>get denied because of "limited credit history"
>realize I was an idiot for building up my credit by just buying gas and groceries on the same card for years

meanwhile

>brother somehow gets a loan for a $180k house he can barely afford
>his credit is trashed from years of missed payments on shit and various title/payday loans
>if he gets sick and misses so much as a week of work he'll default on like 3 different loans he has
>literally begged me to loan him $500 for a bank snapshot so he could get the house
>told him no, dad loaned it to him and never got the money back

I hate the American dogshit "credit" system that favors financially illiterate retards over responsible people.

Meanwhile...

>parents just moved into an upper middle class suburb in Texas
>neighbors are living lives financed out to a ridiculous degree
>everyone has the same cookie-cutter $350k home and the same Pony car/SUV combo
>can't afford the insurance deductible to fix their fences and roofs when Texas shitstorms blow through
>all but a few people in the entire suburb are one life event from declaring bankruptcy and losing everything they "own"
>nobody mows their fucking lawns
>neighbors outdoor cats destroy everyone's gardens and spread fleas
>pajeets shitting up the neighborhood
>mexican construction workers steal shit from random cars/houses during their lunch breaks
>dumbass chads peel out and burn rubber at every stop sign in their mom's SUV
>paying $300/mo to an HOA that doesn't enforce their own rules
>apathetic police force that does nothing

America.

The system is set up to encourage behavior like your brother's and discourage behavior like yours. They want and need nigger-tier debtslaves.

Upper class trailer park.

Maybe try buying a house with a fair bit of land, and then build yourself a garage. Thats what my cousins have done on their "farm". They just built their own big shed/garage to keep things, as well as cars in.

Market is in a bubble, it will crash soon. House prices are nuts where I am. Parents home went up 50% over a few years.

Houses prices are 15x the average wage where i am, 400k gets you an average house.

I know that feel. Have a 2 car garage at my place but it's filled with a relatives garbage, including 2 cars he refuses to sell.

AGAIN? Haven't Americans learned your lesson the first time?

No. Sub prime lending is lucrative, but most people forget why retards have low credit scores leading to high risk

I am waiting for all the boomers to start dying. Market will get flooded. Prices will plummet

Why are houses so fucking expensive? Why price everybody out? Is it purely an investment?

>Plz be gentle, never researched this before

>I know that feel. Have a 2 car garage at my place but it's filled with a relatives garbage, including 2 cars he refuses to sell.

Lol why are you keeping someone else's shit in your garage? Dump it outside and tell him to get it

buy the lot cash and finance the build.

>I want something extremely specific in a place with high population and expensive real estate
>why is this so hard to find

It's just supply and demand. Houses are super cheap in places like Texas. You can get a nice 4,000 SF home with an acre of property for less than $300,000.

Go to commiefornia and you'll spend $1.2 million for an average 1800SF home.

>americans crying about 400k houses
>to own a shitheap fibro house 10km from Sydney you'll need $1 million because of chink investors

Build the wall.

Come to Canada, same shit here. Especialy in Vancouver, all the chinklets are buying up real estate and driving prices for shitbox 800SF condos into the millions of dollars.

Ontario is bad too, if you want anything within 45 minutes of Toronto you're looking at half a million dollars, minimum. And that's for some mass-produced shitbox home in a high-density subdivision with neighbours six inches from your kitchen window.

>look elsewhere for work
>jobs are far and few between
>90% of the work is in Toronto area
>forced to live there
>forced to be a slave to high real estate prices
>forced to keep feeding the system and living a life of relative poverty despite making $70K/year

Fuck this gay earth.

>tfw rent a room in the house of a horse ranch
>tfw the owner rents out every square inch of the massive property since there are multiple large warehouse structures
>tons of classic cars stored for the winter in one of them
>some nutty audi guys rent out a garage next to the horse stables
>she converted a large chicken coop into several two car garages and i rented one of them
>tfw living the dream

if i get picked up by tesla i hope i can find something as nice in the bay area for under $1500 a month, room share of course

I think the problem is los angeles looks like a high income city with now limited real-estate. You literally have to build on the side of a hill now.

trulia.com/property/3269511772--N-Bonnie-Beach-Pl-CITY-TERRACE-CA

You are not living the dream. Too bad you are renting and not building any equity. You are going to become a wage slave for the rest of your life if you don't buy some real estate.

Also, houses with decent lots are being bought and converted too apartments to create even more wage slaves.

LA doesn't even let you build on hills anymore. They have a shit ton of requirements now. Can't hurt the ecosystem. Land has to be stable. Can't remove more than 20% of the dirt, can build on a grade of more than 10 degrees. Blah blah blah.

>You are going to become a wage slave for the rest of your life if you don't buy some real estate.

I hate to break it to you, but that's going to happen if you buy a house too.

You really think that at 65 you'll be able to retire on the $100k you make selling your old house and buying a new, smaller house? Or even re-mortgage partway through and actually make anything happen at all, ever, with the $50k that you refinanced?

Honestly, rent, LLC or incorporate, get a commercial loan and some warehouse space and you'll be far better off than you would be buying a house.

Life is bleak. :(

I do need to start some business that is automotive related though. I could write everything off. Snap on tools, business expense.

Brand new car to drive around between jobs, advertising/work vehicle, business expense.

Take a business partner out to a fancy dinner. Meal and entertainment business expense.

Fuck, like just like at Hoonigan or DC. I was reading the history on Ken Block. He started DC shoes from his garage. Then he cofounded Hoonigan. Now he drives around race cars all day long. All business expenses to lower your income.

You sound retarded. The problem is you, not the system.

Do you have a high enough income to cover the monthly payments? Look up ratios onlieb or ask the mortgage broker. Is you income in a stable form such as in w2 salary? That is important too.

What about down payment? Do you have 20% down plus other cash reserves?

The only lines if credit I have every had are 4 credit cards, the oldest opened at 18. I have always paid in full, never paying interest or fees.

When I was 26, and two years out of college I purchased my house for 650k with 20% down. I had no trouble getting financing at all. Moved straight from my mom's basement to a house that is worth almost 1M now.

>building equity
>spend $300k on a house
>20 year note (most people do 30)
>you actually spent $417k (roughly)
>inflation is 3% a year usually
>sell it for $375k 20 years later
>actually lost almost $30k
>not counting insurance loss
>repair cost
>upkeep cost
>taxes
Houses are a scam as much as anything else. In fact, renting a cheaper place and investing the extra money will return you more in the long run.
>he fell for the never ending mortgage scam

You have NO IDEA what a business expense or writing things off is. I own a shop, it's not at all what you think. You DEPRECIATE assets, but there is a limit. Running an auto shop has MASSIVE overhead. You do realize that you can't just "write off" everything like some magic ticket. Also your "work" vehicle can either get the mileage rate or set rate BASED ON WHEN IT WAS ACTUALLY USED FOR WORK. And when you start cheating the system saying you drive 30k miles a year for "business", enjoy your audit.

you don't buy a house because it's a smart move im pretty sure. you do it because it's something everyone is taught to aspire to. a wife, kids, and a house.

Only two years out of college and you managed to save $130k? Even assuming you lived at home and didn't have to pay any rent, I'm smelling bullshit. It sounds to me like Daddy payed a good chunk of your house down payment and probably your college education as well.

He is full of shit. He probably got a $200k house with a special first time buyers 5% down that he borrowed from mom.

Wow, I feel special for once

My wife and I have 40% equity in a 2600sq-ft custom built house, 3 car garage, several acres of beautifully landscaped land...

Planning on adding a detached garage on the side.

Know how hard it was to find? Really damn hard. I live in SC. Most people do not take care of anything they own. The people who owned this house before us were meticulous.

Don't settle for less than what you want. It took us 8 months of looking to find this place

>Los Angeles

Problem detected.

What you described is just not realistic based on what part of the country you are living in.

I live in Orange County and the housing market is worse here than up there. I got lucky because I bought my house many years ago in what used to be an unincorporated community further inland.

I would honestly just suggest you do what my co-workers do and look for a house in Riverside or San Bernardino.

I know commute will be a pain, but what else is there to do?

I paid ~$250k for a three-bedroom house and now houses all around my town are going on sale for upwards of $800k.

Yes my parents paid for college as they should. My post was about being able to get a loan but as for my savings, I started saving in highschool, working through college and being very frugal. I didn't have to pay for much because I lived at home, but my parents didn't give me down payment.

My then girlfriend now wife did the same as me, she had a side business flipping luxury goods and also held jobs.

When I got out of school I got a fairly lucrative job in the tech field. The thing I noticed is that people are good at wasting money on dumb things like cable TV and what not.