Is buying a home an asset or a liability?

Both.

equity is a depreciating asset and the mortgage is a liability. long term, the equity will be dwarfed by the costs so that's why some say it's a liability plain and simple.

If you buy it straight away without needing a mortgage then I would say it's an asset.
Especially in major cities where the house prices are constantly increasing.

True. Living with your parents and having a cuck provide you money and build equity for you is the way to go.

Like every other good.

>tfw new into realty
>just want a house to raise chickens

Will my 5k down work for a 70k property or do I need to save more?

also redpill me on mortgages, is a 15 year fixed rate the only acceptable mortgage?

>Someone spent a LOT of money to build something this pointless and appalling
Gee, I can't fucking imagine why there are so many problems in the world that never get solved.

>Someone spent a LOT of money to build something this pointless and appalling
Obvious CGI is obvious. Is this your first day on the internet? Well, as long as it gives you something to bitch about, right?

It's a shit design anyway.
>Hurr durr let's obstruct the view with big slabs of concrete

fpbp

If you can save and invest your money in a way that gives you more returns and over the long-run more wealth then renting is better.

I am 30.
If I buy a home now and live in it, compared to renting a similar home, I will have "saved money" in 25-30 years.
So buying a home now, in my prime, will lead to me losing money until I am an old man, and then I will begin gaining money.

Thus unless I plan to have children and leave them the home, its not worth it.

t. financially illiterate

The government can size your property for unpaid taxes and for eminent domain(read: pay you peanuts and give it to a business). Various "authorities" can place liens on your property for unpaid bills.

You can do 3% down conventional mortgage with various means of paying for mortgage insurance. You do need to have good credit, 750+. FHA allows 3.5%, but charges mortgage insurance for the life of the loan.

I would take a 30 year over 15 year and pay extra each month. Easier to make a 30 year payment if times are tough.

explain then

USDA mortgage - 0% down, lower mortgage insurance.

To me it means liability, but I'm a bachelor. Repairs, the market, the fact that you don't truly own it for some 30 odd years... But if I have a family I don't want to live in an apartment.

Is buying a home a meme now? Serious question.

Average home in my area will cost about $1,400 a month with tax and everything. I pay about $980 for a one bedroom apartment which is a little high but 10 minutes to work with traffic.

I work about 45-50 hours a week and I live by myself for now. I clean on the weekend. No yard work. No maintenance. I save about $800 month easily.

I still feel like I'm missing out. Am I stupid for not buying a home or smart? I'm waiting for the next recession to dump all my savings into an index fund once stock prices have tanked.

I have tried to poke holes in my own plan but it just doesn't make sense to buy a home unless it's cash. Everyone tells me, "You need to buy a house!"

>housecucks

Whether you buy or rent, you're still paying money to someone for doing nothing, just so you can wake up and shit every day. What looooooooooosers. Just buy a tarp and camp outside of town. Free. Profit = $1000 a month, or a 12k a year after-tax raise.

You just have to firgure oht the local market for homes and do the math. Your plan is a good one if the market is going to tank soon but i know people who sold their house to rent years to do this and their former property went up in value quite a bit since than. Its better to be paying to increase your equity in your house than to be doimg thatfor someone else.

Why buy a house? Why not an apartment? Also
>I'm waiting for the next recession to dump all my savings into an index fund once stock prices have tanked
You are missing out on the gains

I-is that a real house? How much money would I need to buy something like that.

Yes

if the prices in your area are going up and you dont see any new home construction

buying in this era of low rates would be something to consider, demand is only going to rise.
just be aware interest rates will also rise so dont get caught out like millions of other low wage/maxed credit smucks will.