Is it a good financial decision to buy a house?

Is it a good financial decision to buy a house?

>100k net worth
>20k in crypto that came from $400 bitcoin purchase in 2013
>16k in cash, no debt, the rest in stocks 30k in retirement accounts
>only make 37k a year

I can't decide if I should wait a year if this is really the year of the alts I anticipate being in a very different financial situation a year from now, but I'm scared of such a big purchase while I have 20k in crypto. Am I being retarded not buying a house right now? I'd be buying a ~$110k property hopefully renting one room out. My rent currently is $400 (metropolitan area in flyover country).

land is forever, boi

how expensive is the house ?

Why not rent? $400 is nothing user?

Don't fuck with that girl, you'll piss Sergey off

And I kill whoever pisses Sergey off

Only if you can buy a house in cash. At $37k/year you won't get much of a mortgage anyway.

Depending on where you live, I would wait another two years. The money you will make with crypto is going to be much more. Rent for now

Make the purchase and don’t regret it one bit...sounds like you’re on good do get tax benefits too

t. Long time homeowner

if you wait a bit..the housing market is about to tank again so u can scoop some shit up cheap...if not rent til you know where you are staying, or buy property for income.

Wait until Monday when the home bubble collapses everything's value. You'll be able to snag a house for 40k

>only make 37K a year
Lmfao dude. If I were you, get a better job and buy property only if it's the best investment you can make (high cap rate & margin of safety) and rent it out.

Never buy more real estate than you need for yourself. I'm a millionaire and I live in a 600 sqft apartment. Unfortunately anything smaller will have me living with niggers. I do have a small complex with 8 units I rent out, but I wouldn't live there.

You will lose on property taxes.

Buy up houses cheap during the boomer genocide.

I'm a former homeowner, hated it, will never buy again. Didn't fit my temperament. Here's what I would think about in your shoes:
1. Interest rates are low as shit, so if you're sure you want a house, and will need a mortgage, it's a good time
2. You're ok with "sweat equity" - an ETF doesn't ever need a new AC unit, a stock doesn't need it's lawn mowed and hedges trimmed, etc.
3. You're ok with paying ever-rising property taxes, HOA fees, etc.
4. You can handle the stress of a roommate living inside your investment (huge difference from sharing an apartment)

I sold after two years and went back to renting and keeping my hoard in index funds, much less hassle.

Don't buy a house at all, it's not an asset, just a pain in the ass.

Grant Cardone anyone?

In the west we have a giant Fucking asset bubble right now - property, equity, bonds - everything.

If you mortgage up now prepare to be in negative equity soon.

This is what I'm thinking. It's a risk but I think it's got a reasonable chance of working out.

yea a mortgage and all the associated expenses of buying would undoubtedly be more which makes me question buying.

I'll probably either look for ~70k in up and coming slightly dangerous areas that are gentrifying or ~110k for established areas. Alternatively i've thought about paying cash for a small one bedroom condo for somewhere around 50k or less but I wouldn't want to be left with so little money.

deep down I know this is the responsible choice I'm just terrified of the commitment and being in debt.

I know my nigga

What magical tax benefits are these? Unless you’re old enough to get a homestead allowance. Plus don’t forget about paying property tax.

shes pretty ugly

Have fun squeezing more than 4-5% out of an ETF though. With a few busy weekends and some effort I bought some run down property for 800K which returns me 150K a year after expenses. Although our family business is in construction, so I had no problem with tiling, drywall, plumbing, etc..

Bought a house 3 years ago. Up $100k in value already. About to sell and make way more than I've made in crypto. Not sure what the hell this guy is talking about with tax benefits though, I'm getting raped by property taxes. Went up $1k last year and it looks like this year will be worse.

The real question is what shitcoin should I buy with my real estate gains. Not a big fan of ERC20 tokens although I made exceptions for BAT and XLM, I'm thinking maybe VTC while it's cheap again, I dunno

Thanks mommy and daddy :)

I am 26 worth about 400k own two properties. I bought a condo for 77k on an FHA loan and it's 3% down. I make 780$ a month from rent. *Not supposed to rent on FHA loan* then I just bought a condo from my parents divorce worth 200k selling it and buying 3 units with it. I love properties, they get it xpensive but I know more millionaires from property than I do bitcoin

Also my.mining rig

It's the best investment you can make. Sure wth crypto it could explode and you'll be a millionaire but once you own a house you can never never truly be poor. Especially if you're renting out a room.

that's the dream isn't. If I catch a 10x plus my goal would be to mortgage at least a 4 plex, live in one and rent out the rest. That dream is partially why I don't want to buy now.

I know I would get fucked buying a real fixer upper because I have no experience. I have no problem looking up videos and doing some work but I absolutely know I don't have the knowledge to scoop up something that has repairs I could do myself or get done cheap enough to make a solid return, but maybe (I doubt it) it's not as difficult to learn as I think it is.

yes, but I think at the amount alts are likely to go up will at the very least match the rise in property values so waiting a year will at worst be a wash.

Wait for the dip

Recession hitting soon

I wouldn't go into VTC. A coin with only one function which is to act as a currency is not going to be successful. There are too many like it that are already more successful. BTC, BCH, LTC are already mainstream. Then we have the newer technologically superior ones like XRB, XLM, IOTA, etc. There's no market left for VTC to capture. "ASIC resistance" is not enough to make it successful.

but that will also coincide with a drop in stocks and I'll have to sell low. I already have more cash than is advisable and stopped buying stocks as of a few months ago in anticipation of the correction, but a drastic drop will mean I have less cash to scoop up cheap property.

Ehatiff its a bulltrap