Today, when I said "I don't want to buy a house. Renting an apartment is the better choice" at work, my coworker looked at me and "WHAAAAT?" then we were having a discussion about it.
She said that buying a house it's always a good choice because >it's a great asset to invest >it's nice for family Let's just discuss the 1st reason.
I know real estate industry is really popular, but is it REALLY a good investment? I'm seriously doubting it. Let's see purely from financial POV >down payment >long-term mortgage that will shackle you financially >property fucking tax >utility and maintenance cost >risk of getting robbed >risk of accidents / disasters that could destroy the house >risk of housing market not actually going up perpetually >it’s an illiquid asset
And then, the impact of living in a house to Quality of Life: >as an average joe, you probably could only buy in sub-urban, which means long commute time to work place. You’re gonna waste HOURS daily just to go to your wagie job >commuting requires car (huge financial burden) or public transport (shite for long commute) >everything is your responsiblity (maintenance and fixing stuff) >you’re trapped in that place for a long time, your mobility is restricted >can’t do shit if you accidently bought a house in an unpleasant neighborhood
Meanhile renting a 1 room studio apartment... >no financial burden except for paying a not so expensive monthly rent >close to no responsibility >flexible, can fuck off anytime to find another apartment in another location whenever I want/need to (close to work place, close to public transport hubs, close to place with tons of restaurants/entertainment, etc)
I love living frugally and I don't plan on getting married. Buying a house just sucks. It's nothing but a liability. Unless you're already rich and buy it just to rent it to others for passive income.
Am I in the wrong here? Please educate me Any Forums
Okay instead of paying rent to some cuck ur putting money into your own savings. a little interest. but that 1400 you spend each month goes partially to u.
Cameron Long
the cost of maintaining house is equal if not more than rent payment
Mason Myers
The financial value of a home purchase is the equity you are building by paying off and maintaining the asset. You can't "sell" your rented space at a later date, but you can sell your partially or fully paid off house or condo or mobile home or raw land.
"Owning" that class of asset also allows you to use it as leverage as well, which puts you in a position where you can take out a loan against yourself to pay for an emergency/ upgrade or improve your existing home (potentially increasing its value) or investing in another property or asset. In that scenario you create additional debt payments, however you are just paying yourself back.
Location and proximity to amenities is a personal decision, but more often than not, buying a home is the better financial option if you plan to be in a location for 5+ years.
Tyler Anderson
That time when the house will be paid off at least you'll have a roof over your head when you're in financial difficulties.
With renting, you're just one step away from ending up on the street when things get tight.
It depends if the market is currently in favor of renters or buyers. Right now most of the world is in a renters market, especially if you are renting cheap (old lease). In Europe there are shadow markets of subsidized housing for example, you would never break even on your investment by buying right now. If housing crashes again then I'd consider it. But going into debt for 25+ years over a shitty house isn't worth it imo.
Gabriel Hughes
are zoomzooms so retarded they actually think renting is better simply because its in the city and maintenance free?
>down payment you don't have to put down the 20%, its better if you did but the payment isn't going to be substantially different >long-term mortgage that will shackle you financially same thing if you invest in stocks or cryptos, its money you can't immediately use until you sell >property fucking tax yes this is probably the one downside to buyng a home >utility and maintenance cost some apartments have utilities included but most don't so thats not a talking point. some houses reuqire more work than others but this argument makes it sound like the house is constantly falling apart, so a bit of a farce there. >risk of getting robbed happens in apartments too, bud. >risk of accidents / disasters that could destroy the house happens in apartments tool, bud >risk of housing market not actually going up perpetually same thing with cryptos and stocks, bud. >it’s an illiquid asset same thing with cryptos and stocks, buh uhddy
clearly you don't understand real estate even from a "financial POV"
Michael Hall
your next topic is just as meaningless >as an average joe, you probably could only buy in sub-urban, which means long commute time to work place. You’re gonna waste HOURS daily just to go to your wagie job unless you moved out to the sticks, you only waste an hour at most going both ways. nice exaggeration there retard. >commuting requires car (huge financial burden) or public transport (shite for long commute) depends on your job, for me i do need a car because i'm not working at one single building >everything is your responsiblity (maintenance and fixing stuff) this is what scares zoomzooms and manchildren from buying a home, god forbid you have to perform.... manual labor! >you’re trapped in that place for a long time, your mobility is restricted like said. more often than not however, people like you rent and stay there for the same amount of time >can’t do shit if you accidently bought a house in an unpleasant neighborhood yes you can but once again same thing applies to apartments
seriously, your whole post and many like it before rant about the same issues that can still apply to apartments.
Josiah Moore
Meanhile renting a 1 room studio apartment... >no financial burden except for paying a not so expensive monthly rent that hasn't been true since 2010. rent has increased along side mortgage prices. in my area there are studios that go for $800+ and have been and will continue to increase. meanwhile my mortgage is $900 and won't ever up >close to no responsibility this is the main argument when these little "debates" come up, and it shows the true colors of whomever prefers to rent than to own a home. >flexible, can fuck off anytime to find another apartment in another location whenever I want/need to (close to work place, close to public transport hubs, close to place with tons of restaurants/entertainment, etc) sure you can, but you won't and most don't. you never mention security deposits, background/credit check fees, nor setting up utilities in your name if they aren't included in the rent. not to mention moving your shit from place to place which is why most people aren't constantly moving if they're living in the same area for 5+ years.
Ryan Bennett
You also can’t just get up and fuck off under most apartment leases. You still have to pay the entire lease term. So you’re really stuck in places for at least a year
Nolan Peterson
That's not a house! That's a cardboard box. When I order a TV the packaging looks like that.
(1) You're gonna get an arsehole landlord one day telling you to pack up your things and leave immediately because they sold the property and usually will not tell you til the "last minute".
(2) The more you move from one rental to another, you're gonna get sick of it, whether it'll be... the lease is over and you gotta go, rates have gone up unreasonably, etc.
(3) You can sell your house at retirement age and use the money to downsize to a retirement property, be comfortable and get access to carers, etc.
(4) You get to focus on you.
Elijah Ramirez
Housecoin only goes up ape in before you are priced out forever. Paying an extra $100k over asking is no big deal.
Ayden Collins
buy now or literally be priced out forever. houses will never truly crash.
Jaxson Rodriguez
>tfw renting a single person apartment is cheaper than outright buying one Why and how the fuck?
Jordan Hall
Unironically one of the most retarded takes I've seen on this forum.
Ethan Taylor
Absolute dumbest thing I've ever heard
Ethan Morales
Apartments suck. You have no land. You have some faggot below you, above you, and on either side of you. You have zero control over the noise that they make and you have to tiptoe around your own living space. Its an extremely beta way of living.
Being in the big city is dying out. Remote work and the rise of the metaverse will kill it off.
Cameron Rogers
The Jew fears the landowner.
Evan Cox
Yes, yes, live in the pod and become an eternal renter, throw away thousands of dollars a year while building no equity
Ryder Sullivan
>down payment >property fucking tax >utility and maintenance cost All of that would be compensated once you’ll decide to sell >mortgage user there’s huge difference between mortcucking and actually buying on cash The rest depends on location but ffs why would you choose something that not fully satisfying?
