How important is saving up for a house to you right now?

$tacy · May 27, 2017

Thank god I don't live in ny, cali or dc. I can get a 5 bedroom 3.5 bath in a nice ads suburb 15 minutes away from the city for under 200k. Buying a home is in my 5 year plan right now.

kvsm23vs24 · May 27, 2017

Wow. Where do you live?

ziostilon · May 27, 2017

LOBCITY said:
how much traveling do new homeowners do? They settle have kids and the way the economy is going barely can afford to take they families to a movie and dinner after.

If you can step out the country and LIVE life before you get locked down with all these responsibilitys Do it.

Money is best used to experience life.

That's the big choice isn't it.

How much longer are you going to delay getting that piece of real estate.

Something like traveling the world takes a good chunk out of your bank account

Where that amount could go towards your down payment and your mortgage.

It's a personal decision. What's more important to you. To get that "money can't buy" experience when you're traveling. Or get into the real estate market earlier in life

avthegod · May 27, 2017

IG88 said:
Bought a house in 2001, in a bad neighborhood in Chicago. Price was 120k. 3% down (or a pair of DS Red October Air Yeezy's). I owe about 87k (never took a loan) right now. And now, the neighborhood is rapidly gentrifying. Considered a "hot" area now. My only worry is proper taxes now. Might eventually force me to sell when they get too high. But, I'll make a decent profit when I do sell. A decent apartment will cost you 1k a month. I'm paying 1,100k a month. With a second floor and basement apartment bringing extra $$$. The first year as owner was tough, but you learn and it gets easier. No regrets. So far, the best investment I've made in life.

what area in the chi?

seen some rough houses go for stupid money in chicago, been contemplating if its a good move though.

same as philly

houses like 10k but the shortys are wild out here.

might be a good idea to buy and stock them for the future.

dmbrhs · May 27, 2017

Saving up for the next recession. Then I'll buy.

Sir San Diego · May 27, 2017

Probably moving to AZ in August with this in mind. San Diego ain't happening for buying what I want.

Chopper · May 27, 2017

With these rates, I'm not saving **** for a crib.

I'd rather keep other investments.

avthegod · May 27, 2017

Chopper said:
With these rates, I'm not saving **** for a crib.

I'd rather keep other investments.

as long as you keep the cash flow coming in, and the investments growing nothing wrong with renting.

ahat · May 27, 2017

***** stupid expensive up here.

Stacked up some and copped a "cheaper" condo that i rent out. Sitting on that rental income. A 2nd one was in the works but **** happened and it didnt work out.

flacobey · May 28, 2017

I'm 25 and currently trying to save to purchase a condo in DC. When I do purchase a home I plan for it to be in a city or close to job centers. I think the next 20-30 years, home prices in urban areas will outpace those in far out suburbs or suburbia.

I'll probably try to pull the trigger once I have at least 20% of the homes value in liquid assets. If there's one thing 2008 taught me its that I should be able to weather a decrease in my home's value, or a job loss, over a short period of time. But I am a risk adverse person so im sure a lot of people won't agree with that perspective

1c3m4m · May 28, 2017

25, apartment in midtown NY, would love to have a house but its too damn expensive here

brandon3000 · May 28, 2017

After paying $40,000 in rent from 2010 - 2016 here in Atlanta, I'm finally closing on my first home.

3%/30 year mortgage

I honestly wish I would've done this in 2010 when I first moved here.

Will likely sell the home or rent it out in 5-7 years and start eyeing another one....

Some of my friends pay $1200-$1600 on rent... just seems wasteful.

It's important to build equity when you're young. You'll thank yourself.

throwback1718 · May 28, 2017

NYC is unbelievable. Both the rent and the costs of houses. It's a lose lose unless you have hella paper in your bank

shorty doo wop · May 28, 2017

Brandon3000 said:
After paying $40,000 in rent from 2010 - 2016 here in Atlanta, I'm finally closing on my first home.

3%/30 year mortgage

I honestly wish I would've done this in 2010 when I first moved here.

Will likely sell the home or rent it out in 5-7 years and start eyeing another one....

Some of my friends pay $1200-$1600 on rent... just seems wasteful.

It's important to build equity when you're young. You'll thank yourself.

question, don't you need to finish the mortgage before you sell?

quise2024 · May 28, 2017

Willchamberlain said:
Thank god I don't live in ny, cali or dc. I can get a 5 bedroom 3.5 bath in a nice ads suburb 15 minutes away from the city for under 200k. Buying a home is in my 5 year plan right now.

kvsm23vs24 said:

Wow. Where do you live?

Click to expand...

That Atlanta market. If i was back home we'd have a "luxury" type of home.

Same home mentioned above would be about 4-600k up here in MT (depending on the amount of land its on)

imrobindahood · May 28, 2017

TO OP

Its possible to do both really. I can vouch for it. If you own the right real estate it can lead to major income to travel as much as you want.
Sacrifices will have to be made to get to that point though

brandon3000 · May 28, 2017

Shorty Doo Wop said:
Brandon3000 said:

After paying $40,000 in rent from 2010 - 2016 here in Atlanta, I'm finally closing on my first home.

3%/30 year mortgage

I honestly wish I would've done this in 2010 when I first moved here.

Will likely sell the home or rent it out in 5-7 years and start eyeing another one....

Some of my friends pay $1200-$1600 on rent... just seems wasteful.

It's important to build equity when you're young. You'll thank yourself.

Click to expand...

question, don't you need to finish the mortgage before you sell?

No, while many of the first few years most of what you pay goes to interest, as long as you're in that home you're investing in it and building equity that you can choose to keep and maintain or sell for money to put towards your next home.

for those of you considering buying vs. renting check out this video. Depending on where you live, it may or may not be beneficial to buy....

dhart48 · May 28, 2017

It's not that important AT ALL, I have so many varying degrees of different people in different circumstances when it comes to this topic though

On one side I have a mother in law who acts like her mortgage is the worse thing to happen to her, she used to complain all the time but now does Airbnb for 2 of her rooms to compensate.

On the other side I have my parents, who have always had a knack for getting in before it gets crazy. they bought a home in san jose, ca (93 I believe) and maybe like 4-5 years ago that house burned down and insurance basically built them a new house. Due to health reasons, they sold that house for a ridiculous amount of money and bought a house north in Brentwood for nothing as it's the same circumstances as when they originally bought the San jose, I mean the neighborhood is still being built, but you know it's gonna develop. It's paid in full and my parents basically said it's mine when they pass, an obvious reason as to why this isn't even on my mind.

Then I have my brother in law and his wife, who literally traveled the world before they had a kid and still live in a tiny 1 bedroom apt, and are happy living in West Hollywood, with no ambitions to ever buy it seems. I should put it out there that her fam owns a farm out of state so they'll most likely inherit that, so, like me they not really trippin.

My wife has a coworker who we hang out with who bought a house about a year ago with her husband and help from their parents, they seem happy, but at the same time it's like they're trapped. We recently went to a bbq for a mutual friend and the subject of how My wife and I are going to paris/london for our 5 year came up, and when the convo stopped and people were eating and carrying on about other stuff, I heard the coworker whisper to her husband "we should travel too, out of the country" and he seemed stressed and basically suggested portland or some other close by destination for a weekend.

Then I have my boy I've known for over 20 years, he and his wife live with her parents and are trying to save for a house. It seems to be a goal, and there's nothing wrong with that.

Me personally, even if I didn't have a house I'd inherit(which I view as a looming headache more than anything) I'd only buy a home or save up if I could travel annually, otherwise I wouldn't do it.

703 hwy · May 28, 2017

Buying a home in a decent area will soon only be for the upper middle class. Srs

703 hwy · May 28, 2017

FlacoBey said:
I'm 25 and currently trying to save to purchase a condo in DC. When I do purchase a home I plan for it to be in a city or close to job centers. I think the next 20-30 years, home prices in urban areas will outpace those in far out suburbs or suburbia.

That's already happened b. Ppl wanna live in the entertainment, no one is trying to live 20+ miles from the city anymore.

combo gd · May 28, 2017

http://thevanual.com/

All Ready · May 28, 2017

703 Hwy said:
That's already happened b. Ppl wanna live in the entertainment, no one is trying to live 20+ miles from the city anymore.

I equally like both

I want a condo downtown and a spot just outside the city

right now I stay by beautiful lakes and parks, it's really relaxing and peaceful

HEATHEN · May 28, 2017

Process of buying a home right now but having second thoughts. That's another topic but I don't know if it's imperative to ever own a home.

A couple generations live in the home, you die, your family bickers and fight over who gets ownership. Also homes age, most homes built before the 90s don't really appeal to me and the ones that do are expensive AF.

It's really whatever. Doing it for the kids I suppose.

HEATHEN · May 28, 2017

Brolic Scholar said:
Probably moving to AZ in August.

Don't do it.

Srs.

kingkoopa · Jun 4, 2017

Im stacking good.

Im renting high end apartnents for under a stack.

With no family I just dont see the point.

Search

How important is saving up for a house to you right now?

$tacy

formerly willchamberlain

kvsm23vs24

ziostilon

avthegod

dmbrhs

Sir San Diego

formerly brolic scholar

Chopper

avthegod

ahat

flacobey

1c3m4m

brandon3000

throwback1718

shorty doo wop

quise2024

imrobindahood

brandon3000

dhart48

703 hwy

703 hwy

combo gd

All Ready

HEATHEN

HEATHEN

kingkoopa

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