RENTING OR BUYING

Hopefully you guys know more than just crypto currency, anyways.

I’m 24 years old and am finally moving out of my parents home, I make $32.00 an hour and work full time. I have saved up around 25k and am debating on whether or not to just purchase a property instead of signing a year lease and basically throwing money away in a sense. Let’s say the rent is $2,000 /mo. X 12 months = 24k not including utilities and other shit, that’s a lot of money to go to waste annually. What should I do?

>also can I make money renting out my property and live in apartment as well?

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youtu.be/NZR_vMTLfIk
biggerpockets.com/renewsblog/2015/03/25/fha-financed-duplex-ideal-first-investment-property/
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Live with your parents and save more money, that’s my advice

If things are still good at home why don't you buy a place and rent it out for a year while you still live at home and able to save more money.

Might sound geeky living at home but when you hit 30 you'll be ahead of most people

This. Wait for the upcoming market collapse and guy BUY a new house the cheapest you'll ever get it in your life.

Stay with your parents. You are successful so fuck the muh mom basement memes. Save up your money be good to your folks for letting you live with them and put your extra money in Link. Boom millionaire in 2019.

yes get a long term mortgage (cheap debt), rent out the property, and use every spare penny each month to buy cryptocurrency

Stay with your parents one more year Take your 25k, put it into ven and then buy whatever mansion looks nice to you after you cash out

>buying
>this market

Are u ppl retarded? Serious question. Its so fucking obvious.

11 of 19 indicators state we shud be entering bear market. Most indicators state we are at late stage of cycle. Holy shit people are dumb/lazy

Don't kill your cash flow and ability to move for better opportunities. Buying a house is a lifestyle decision, don't adopt the boomer mentality.

Do what I do. Saved up for a deposit, bought an affordable property. Rent it out while living with my parents still and working.

Rental income + Money from your job will mean you pay down the property even faster and pay less interest in the long run.

If you live frugally, you can easily make yourself a success for the future.


t. 22 year old

Unless you live in a really hot market just keep saving money until you have more money. I chose to live with my parents until 26 and put a sizable down on my first condo. I paid it off at 29 and put a huge down on my house now.

I personally wouldn't buy, at least not right now.
The market is at ath, while the volume is drying up. A correction is coming.

Also, you don't really the to own the house anyway. The bank does, while you're stuck with all the bill and taxes, a complete ripoff.

So housing price is going to come down? Does this apply to the UK?

youtu.be/NZR_vMTLfIk

you guys are retards

you realize living with parents isn't "free" right? like your parents have to cover the costs associated with you living in their home. You're essentially burdening your aging parents so that you can save a little more money, it's pathetic.

Moved out at 18, roommated/lived with girlfriend, worked part time, went to college. 34 now, own my home, love my career, make good money, sizable crypto portfolio, have great relationship with my parents, couldn't be any better really. And on top of all that I'm a stable, functional adult who knows how to take care of himself and handle responsibility, and I enjoy being capable. I'd feel like a pathetic fucking loser if I was in my mid 20s and still relying on my mom and dad to pamper me, nothing is weaker, more disgusting, more pathetic, less attractive than being subservient to another person or reliant on them to provide you food and shelter. Independence is truly everything.

Rent, all the independence of your own place, not tied to the area. I never want to own a place desu.

This is a good video. I personally borrowed and bought a 2 bedroom unit for $65,000, but you have to consider what that money could have done invested in the stock market instead. An important caveat, however, is human behavior. Many people will not invest their extra cash, but will spend it. So a behavioral advantage to buying is that it locks people into a regime of forced savings, causing them to build equity that they may not otherwise build. But if you're prudent, you have to weight the investment of home equity against other possible investments, i.e. total market index funds.

>not tied to the area

that only applies if you really want to be nomadic and travel/relocate frequently in your life. I know so many guys who had this outlook, "I don't want to be tied to an area!" only to end up living there for 10-20 years anyway and would have been infinitely better off just buying a condo or house and building up equity instead of bleeding away rent money every month. One of my friends had that outlook, he stayed in the same town, same condo for 11 years paying rent the entire time - he could have owned it for the same price (or less) in the same duration but at the end of 11 years he owned nothing.

you know its possible to help out your parents at home but it only costing you a fraction if you actually tried to buy your own house? get off your weird high horse faggot, you want a pat on a back? sounds like wifey doesn't suck you like she use to.

>2k a month in rent
Where the fuck do you live. And no, buying is not smart unless you plan on being an airbnb slumlord. Thats the only good way to turn a liability like that into an income producing asset. Dont do the fucking lease it out meme like every other basic faggot out there. Renting a property out for 1k a month is 12k before expenses which add up quick. Think repairs, key fees, property tax, paying tax on your profit after expenses, etc. If you buy property and fully furnish it in a tourist city, like LA, NYC, etc you could be earning a minimum of 500$ a week from airbnb tenants. The only downside to airbnb is the cost to furnish the property. (Which can be written off on taxes because the property is being used an asset)

Buy Vechain. Wait a year. Don't be stupid. Once in a lifetime chance to go for it. Go bigly. You are young enough to rebound. Do it.

>Get a mortgage goy!
>Pay a landlord goy!

Desperate VEN holders in literally every thread.

The ship is sinking boys.

majority of landlords and rental companies are Jewish

why are you here? this place isn't for you

real estate is historically a pretty good fucking hodl

timing the market (especially the real estate market) is retarded

Been here for like ~12+ years, used to be a /b/ poster originally, now mostly Veeky Forums and Veeky Forums but this is my internet home and always will be.

biggerpockets.com/renewsblog/2015/03/25/fha-financed-duplex-ideal-first-investment-property/

>timing the market (especially the real estate market) is retarded
How so? Housing prices in my area have multiplied since the 90s with no significant corrections. The prices are completely absurd. Why not rent a cheap apartment for a few years when the market is fairly likely to crash at some point, instead of buying an expensive house that's gonna require almost as much money on upkeep and broker fees and is very likely to drastically decrease in value after you've bought it, instead of going up?

We have just recently hit pre 2008 price levels.

I'd rather pay $500 in rent to my parents that includes water, food, washing machine etc... than to spend around $2k just to live in a shitty apartment with everything needed.

Don't buy inflated assets

Seems pretty sound to me

Why the fuck is everyone on biz against buying a house? Mortgages are basically the same cost per month as rent is nowadays. I bought a house recently and actually pay less per month than I would if I was renting in this city. Do you lot have a problem with mortgages because of some jew memes? What's the alternative? Save up 350k+ to just buy a house outright? Do you realize how unrealistic that is if we rule out "making it" ridiculously big in crypto? Are you just going to get dicked by landlords instead and pay rent? I've got a 3.2% interest rate on my loan. The rates in our time are insane, and housing is on the upswing in nearly every city in the US. Buying a home is a great investment right now. Are you really going to miss out on that because of some shit-tier edgy /pol/ memes? It's time to stop blaming your own shortcomings on big-nosed boogeymen and start making some smart decisions.

I agree but the problem is that our time is finite, so you can't wait forever, and while real estate is definitely in a bubble and prices will inevitably drop, they're being propped up by foreign buyers/investors in most major metro areas around the world (Vancouver, Toronto, LA, NY, etc) that there's no telling how long this bubble will last. Every time I think it's about to pop I read about how Chinese investments in Canadian/US property are up 15% that year or some such. If it continues to be propped up for say 8 or 10 more years, that's a lot of lifetime we're sitting around waiting for it to pop before entering the market, time we can't get back, and time spent bleeding money into rental expenses.

yeah we are pretty much peaked on the 1st dead cat bounce right now. been watching prices start slipping locally over the past few months. Might swoop up something from somebody desperate, just so i can have a place now. but really i think i'll get something pretty nice for the same price if i wait a year or two. rental prices are horrible around here though.

It depends on your market, I bought a house 3 years ago and it's gone up in value $50,000 already. So I bought the dip, someone buying now might be buying the peak at ATH right before the market crashes and will be left holding bags. But then again if the market continues its bull run then you'll be okay. It worked out great for me but who knows what the fuck will happen in the future. If you do buy, just remember whether you live in it or rent it, you are responsible for dealing with repairs! That can get pretty fucking expensive.

Especially in the UK.. London's housing market is in a massive bubble and the government is looking to build 300,000 more homes. This will crash the market easily and you can pick up cheap houses then.

This. I bought a 3000 sq ft house on a 10000 sq ft property for $250,000. Perfect location for me and my family, an absolute dream house. I payed $100,000 upfront and my yearly interest rate (Europe) is 1.5%. Renting an equivalent home (garden, detached home, no direct neightbors, lots of rooms and space) would cost me at least $2000 a month. Maintenance costs are also reasonable because the house isn't a cheap piece of shit.
If I don't make it this thing will save my ass when I have to live off old-age pension.

When should I buy then?
Also how should I know if the prices have come down is there like a stock website I can see where there's an average price for housing?

True. I admit it would would suck deliberately waiting waiting a few years paying rent only to see the bubble still not popping. At that point you'd have made a nice profit to somewhat guard yourself from a crash if you had just bought ASAP.

Guess best move would be to delay entering the market if you have some other cheap alternative available. I'm personally living in my dorm as long as I feel like

The home buyer in this video makes completely retarded decisions though.

>not getting a fixed interest rate for the full term of the mortgage (they won't get lower than they are today)
>not putting 20% down in order to avoid mortgage insurance
>not buying in a rapidly developing city for maximum gains

Why the FUCK would you not fix your interest rate? In today's market, it's totally reasonable for the renter to actually be paying more per month for the house than the owner would be.

>leasing/renting throwing away money meme.

I'm not blaming you user, but you're missing the point of renting. The point is NOT to own it, therefore, you don't take responsibility. As a renter, something breaks? Call the landlord. As a home owner, all of that cost will come out of pocket.
What you are really purchasing is flexibility. New opportunity on the other side of the country? Just go for it. Home owners will be stuck in a limbo from months to years of trying to sell their house.

Now don't get me wrong, buying a house is a good thing, but renting is only wasting money if you're never willing to leave that house nor leave that town.

Take into account money goes down the drain when you buy as well.
>cost of buying, like 5% of the value of the house
>mortgage interest, a shitload of money at first
>maintenance and taxes
If those are cheaper than rent, go for it. Cost of buying is a big sum and since you only pay that once, how long you plan to live there is a huge factor. If you live there for more than 5 years, buying is almost always the best option.

You can do literally whatever and it will work out fine. I would just look into both options. You might find that the mortgage is cheaper. Or not. It depends on your location. Market it's pretty high right so be prepared to hodl if you buy.

This. Just buy them stuff with your NEETbux. Pay for their vacations and shit like that. That’s what I do tbqh. Gives me time to practice my crypto trading without having to worry about bills and shit.