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21283737 No.21283737 [Reply] [Original]

Is the property investment thing just a meme? I'm 24 and I've saved up around £30k (+ emergency fund).

China virus has made me rethink a lot about my life and I don't really like my job (now WFH, new pajeet manager) and the idea of working for 25 years to pay that shit off for a house that could go down in value seems like a dumb move.

Am I better off throwing my savings into crypto and renting until I make it and can buy a house in cash? Or is this unrealistic?

>> No.21283854

>>21283737
lets say your rent for a nice place is $1200 a month and your mortgage would also be $1200 a month for 30 years

renting pros
>you get a nicer place for the same price in the first couple years
>no yardwork
cons
>$1200 down the drain every month with no return
>deposits you don't get back
>packed into a box
>5 years later your rent is $1400 and your mortgage would still be $1200
>15 years later your rent is $2500 a month and your mortgage would still be $1200

buying pros
>part of your monthly payment is going into an investment
>house prices generally rise unless there is a recession or your neighborhood turns to shit
>$1200 a month will seem like nothing in 10-20 years
>land
>yard
>yours to do what you want with
>more room
>quiet
buying cons
>money pit for a year or two

>> No.21284137

>>21283854
Keep in mind if he rents he can invest that £30k into an aggressive growth fund, which could be worth more than the house in 30 years.

Assuming your mortgage is a standard 20% down payment over 30 years, that down payment would be worth >100% of the price of the house if you instead invested it in a fund that provided a >10% annual return over 30 years.

>> No.21284145

>>21283737
> the idea of working for 25 years to pay that shit off for a house
why do people say this shit? you have two choices:
1. work for 25 years and have a house at the end of it, even if you paid more than it's worth. you pay property taxes indefinitely but that's only $1-5k/yr in most places in america.
2. work for 25 years and own nothing except a rent payment until the day you fucking die. and guess what -- you're still paying property taxes, maintenance, upkeep, etc. it's just rolled into your fucking rent payment YOU WILL BE PAYING UNTIL THE DAY YOU FUCKING DIE.

>> No.21284175

>>21283854
Yeah this has always been my thinking, but I'm so sick of my job man and I doubt it'll be easy to find a new one in this market. Truth be told I'm scared, it just feels like my parents are pushing me to buy a house as "that was just the done thing at our age"

Maybe I'll rent for a year or so just to get out of their house and build some maturity.

>> No.21284206

Really depends anon. I'll get this in before this turns into a rent/own spergfest. I bought a house about 9 months ago before all this Corona shit. $235.000 with only 3 percent down on a 30 year fixed mortgage. Luckily I work in the medical field and job is more or less recession/Corona proof.

My biggest piece of advice is spend a few more years stacking your pennies for a down payment. Anything you can do to put more equity into the house off the bat will help you to feel more secure. I fucked up and it will be about 3-4 years before I can even think about selling or refinancing to a 15 year mortgage. Whatever you do make you have at least %20 to put down. Dont be like me.

>> No.21284245

>>21283737
Do you think the property market will prevail?
I don't; and I'm a homeowner of 20 years and done well from it.
We live in a different time. ATM, my guess is you'd be better renting (at least for next few years to see where the land lies) and putting your dough into dynamite cryptos like LINK and ETH, plus get some physical precious metals. Reassess in 2 years. Buying now is dicey, IMO
are you a UK fag? That pic looks UK

>> No.21284312

>>21283854
>>21284206
>>21284245
keeping this on a saved file

>> No.21284344

>>21283737
I think there's a housing crash coming within 2 or 3 years

>> No.21284348

>>21284206
This and mortgage insurance is a fucking scam, but required if you aren't putting 20-30% down. HOWEVER!! Renting is throwing money into a pit of jews, and is ALWAYS a loss, always. Even if, and that's a big if, you invested that money and got a 10% return, which is never a guarantee, you would still own a house, which will be worth more when you sell, unless nogs move in.

>> No.21284351

>>21283737
It depends on your market really. If you live in an overpriced market like NYC or SF then renting makes more sense.

If you do want to buy a house, there is no reason to wait until you can buy one all cash. Mortgage debt is the best debt in the world. Imagine you could buy a stock or crypto with 5:1 leverage at an interest rate that is barely above inflation that can't ever be margin called. That's a mortgage.

>> No.21284380

Don’t listen to the rentcucks anon.

It’s a real simple choice. Do you want to pay your own mortgage or someone else’s?

>> No.21284391

>>21284137
read my post retard
i clearly stated that argument with the CONDITION that his rent and mortgage are both $1200/month
he will have MORE to put into an aggressive growth fund in the long run by buying a house because in 10 years his mortgage would still be $1200 and his rent would be $2000+
>>21284145
based
>>21284175
based, didn't realize you're still with your parents. I think it's a good idea to rent for a couple years when you move out until you get enough to put into buying a house. Do what this guy >>21284206 said and take a couple years of renting and set aside at least a few hundred each month to make your down payment.
>>21284245
>>21284312
>>21284344
this is also a huge concern
personally i think we're in another housing bubble like 2007 and the time to buy will be in about 3 years. average sale price of a home and average salaries are taking different trajectories again

>> No.21284427

>>21284351
So you don't see a housing crash?
Come on, millions unemployed, a generation doing nothing? People working from home, away from cities?
Housing crash is on the cards IMO

>> No.21284451

>>21284245
Yeah Britbong but not in Londonistan.

Yeah I might put half of my savings in ETH/LINK, whilst I rent and reassess.

I've got a Marcus account and the interest rate is shite, they've been cut every couple months now to 1.3%ish so it's v likely that the return on that value in crypto would be substantial - only thing is CGT?

>> No.21284502

>>21284344
We were saying the same thing 2 to 3 years ago anon. Just admit it isn't gonna happen and stop letting time get the best of you by waiting around like a cuck for something that may or may not happen

>> No.21284561

>>21283854

buying cons
>nigger moves next door and your bags dump by 50%

>> No.21284594

>>21284561
blacks moving in is a sell signal

>> No.21284617

>>21284451
CG on crypto and staking returns is 20%, after £12,300 threshold.
I have a lot in crypto, and my retirement plan is to move to Gibraltar (British Overseas Territory) and cash what I need out there. It's zero CG tax there, and you can go and declare residency, as a UK citizen. Only downside is you don't get to vote in the UK. Boo fucking hoo.

>> No.21284647

>>21284451

I am a bong, I started with £13,000 initial in crypto in 2017 and now its worth £510,720. I rent.

>> No.21284701

>>21284647
I'm similar to you. Have you scoped out Gibraltar? When Link goes 5-10x, I'll be in a position to be going.

>> No.21284757

>>21284647
I'll keep my owned place on here though. I fancy winter in spain and summer here

>> No.21284763

>>21284617
Even paying the 20% CGT on whatevers over £12,500 would still be a better than it sitting in a savings account losing spending power.

But if I end up like >>21284647 I may join you in Gibraltar.

>> No.21284768

>buy a house and rent it out

kek

>> No.21284846

>>21284701

Maybe, seems like Isle of Man is the true gigachad place to cash out though. Either way I will probably permanently leave UK anyway, fuck boat niggers, fuck anti-white cuckery, fuck roasties, fuck black lives matter, fuck paying taxes to pay for your own people to be humiliated and told they should be ashamed to exist, fuck elite nonces that control the media and with in the royal family, fuck every ugly shitty new build deanobox cuckshed estate

>> No.21284853

>>21284763
Absolutely depends on what you have. I don;t mean to try and lord it over you here, mate. I'm probably a lot older and am now aggressively chasing retirement...
You'll make it. Just don't be a trader. Those fuckers lose. Invest wisely. Best thing in crypto is LINK.
No contest.

>> No.21284866

>>21284391
Thanks anon, I think it's wiser to just accoom crypto and safer to just save more for 1-2 years.

>> No.21284962

>>21284427
I think a housing crash will be limited to expensive urban markets like NYC and SF which is part of why I don't recommend buying there. The only thing that would crash prices across would be interest rates suddenly going up, which is very unlikely to happen.

Most people don't realize how much of the United States is still covered in really affordable houses.

>> No.21284973

>>21284701
lol it already did

>> No.21285011

On a related note - UK lads - have you noticed a weird trend cropping up since rona? Normies raffling off their houses instead of selling them the usual way? I keep seeing fucking normies in the newspaper and on kikebook selling raffle tickets which are priced like £5 each and selling 100,000 tickets or something

>> No.21285080

>>21285011
Haven’t seen houses but I’ve seen a ridic amount of these raffle scams. Normies piling into them. Pretty based to be honest, if you’re willing to take someone’s word that an outcome is random, you deserve to lose your money.

>> No.21285102

>>21284962
This is a UK discussion, but the principles are the same, I suppose.
I think the housing crash will be a result not of interest rates, but of unemployment and inflation.
There's only so long money printing can go on before something gives.
I think there's a already a controlled demolition of the USD going on. China is shaping up to ditch the dollar. God knows how it'll end for you guys, and of course that affects us, too.
I think assets like good cryptos and PMs are the best way we can position ourselves

>> No.21285128

>>21284617
Hmrc hasn’t issued clear guidance on staking rewards yet. Also declaring residency in Gib doesn’t make you tax except in the UK lmao.

>> No.21285137

>>21284973
I meant from here

>> No.21285172

>>21285137
don't hold your breath. LINK is 2020s 2017 ETH. The run came, now rotate your profits stupid

>> No.21285179

>>21285128
Yes it does. It doesn't make you exempt from gains realised in tax years you lived here in UK, but if you reside in Gibraltar, you will be exempt from gains realised in tax events made since you resided there. Look it up.

>> No.21285209

>>21285172
The difference is Link has utility value, something no other crypto has or has had

>> No.21285213

UK person here.

I'm still living with my parents, by choice (and we are a great family reguardless) I've managed to save over 150k GBP.

Alot of this has been from stock growth, the truth is, wealth generation can only happen when you have capital to begin with.

If you dump your money into a property now, you'll have to claw that cash back, its spent time. The hardest part to being any type of wealth is getting on the ladder to begin with.

If you are forced out of your home by parents, then yes, purchasing a house will beat renting. See what you can do with your parents.

Personally, my plan is to get to 300k, then get a 10% deposit and play the rest of my funds to generate income higher than the mortgage interest rate and go down that route. Don't plan on paying it over 25 years though, more like 5-8 via stock gains. All depends on the policy really.

>> No.21285215

>>21285102
Sure I want as little of my wealth in USD right now. But when you take on a mortgage, you are literally shorting the underlying currency anyway.

UK market is definitely different anyway since you guys are working with so much less land.

>> No.21285238

>>21284962
the housing market won't crash in these areas. Maybe in the City of San Francisco or in Manhattan and the denser areas of Brooklyn, but the overall metro areas will be fine.

People still want to live near the world capital (NYC), and the Bay Area has probably the best weather in all of America (though I like SoCal more), along with beautiful scenery. It'll continue to always be desirable.

>> No.21285314

>>21285209
awwww, baby's first crypto bull run. Enjoy the bags that forgot to grow

>> No.21285388

Renting is better if your redpilled on women and live in a HCOL area. I pay way less renting with my bro in a nice area, two blocks from the beach than if i were to buy an overpriced cuckbox (Los Angeles). Also if you hate your job like me , its better knowing I'm free to bounce at anytime to anyplace. I sleep like a baby with all my cash and crypto stack. If I lived in a LCOL area id buy of course.

>> No.21285394

>>21285314
I hate to be the one to break this, but I started buying BTC in 2014.
I'm sure you'll have some smart reply, though..

>> No.21285444

>>21285394
right right, and LINK is a 5-10x from here. how heavy are your name coin bags? fuckin spook

>> No.21285507

>>21285179
No, it doesn’t. You should look it up lmao.

>> No.21285516

I'd be so much further ahead if I bought my first house 10 years earlier instead of renting.

>> No.21285538

>>21285444
How much do you think you'd need to retire? Factor in paying off any mortgage and other debt. Then work out how many years you intend to live, and multiply that by your desired income. Then factor in inflation. Then factor in Capital Gains Tax, then come back to me.
Almost forgot, factor in your stupid Lamborghini.

>> No.21285591
File: 500 KB, 720x540, 1573438121673.png [View same] [iqdb] [saucenao] [google]
21285591

>>21285394
>but I started buying BTC in 2014.
what are you still doing here then? how aren't you a billionaire by now? you have to back to plebbit you little faggot, no one will believe your bullshit here or upvote the turds you spew out of your filthy mouth.

>> No.21285671

Would you guys strictly recommend houses? I have been looking at townhomes and they seem pretty appealing as well. I am a burger and I have seen some pretty nice corner townhomes.
I basically make like $1500 a month now working part time at a job I enjoy, though I also am making quite a bit month with crypto.com earn. I am pretty much a whale you could say in crypto currently though. How much do you think I could negotiate with a bank in order to put down?

>> No.21285675

Guys why shouldn't I just buy with cash and not give a fuck what my credit score is?

>> No.21285677

>>21285591
Because BTC was $600 in 2014, you rude little man.
Stop hijacking a decent thread with your teenage cartoons.

>> No.21285757

>>21285675
No one is saying you can't. Idk where you live and your stack. That's a ton of upfront cost and no leverage.

>> No.21285774

>>21284344
>>21284391
Housing prices are changing, but not a crisis. A rebalancing. City prices will come down to reality and suburban and rural will become the premium real estate.

>> No.21285858

>>21285774
You might be right there. I really don't know.
I do know I wouldn't be buying a first property right now, that's all.

>> No.21285940

>>21283854
>>21284175
Mortgage isn't the only cost you pay when buying.
There's also property taxes, maintenance costs, and the "cost of capital" (basically opportunity cost).
The general rule is that if your yearly rent is < 5% of the cost of the house you'd buy, you're better off renting and investing the extra capital

>> No.21285986

>>21285591
Are you fucking retarded? I've been buying btc since 2012 and believe me 8 figures is the poorest man in the rich house. Billionaire? fuck off you ignorant zoomer faggot,

>> No.21286034

>>21283854
LOL at how wrong this.

>> No.21286037

>>21285940
I'm not a gambler, but I like a little bit of risk. I'm prepared to bet that Link will smash any gain realised by investing in property, over the next few years. By 3 years, you'll be embarrassed reading this.
It really is going to change things.

>> No.21286114

I hope the california market corrects

>> No.21286132

>>21286037
I think you're responding to the wrong guy anon

>> No.21286138

https://www.youtube.com/watch?v=Uwl3-jBNEd4&list=PLdTkMliMLdbk8Rt4RBdKtny4bp63cBqNr&index=10

>> No.21286277

>>21285671
Nothing wrong with townhouses just make sure the HOA isn't ridiculous. They actually tend to have lower maintenance costs then detached homes too, and are normally cheaper obviously.

>> No.21286318

>>21285940
>There's also property taxes, maintenance costs, and the "cost of capital" (basically your opportunity cost).
oh you mean like the costs built into your rent? brainlet

>> No.21286432

What about waiting until interest rates go negative to buy a house? Seems like it will happen soon

>> No.21286558

>>21286318
Fully depends on the area OP is planning to buy in. Rent cost is mostly supply/demand based, so it's not always as straightforward as you suggest.

As I said IF yearly rent is <5% of the house cost, it makes sense to keep renting, and vice versa. It fully depends on OPs individual circumstances.

>> No.21286628

>>21283737
>the idea of working for 25 years to pay that shit off
You know if you get a 20 or 30 year mortgage, there's nothing to stop you paying it off in 3 or 4 years? That is if you actually work a lot and earn money. Why such a pathetic outlook on life?

>> No.21286732

>>21285213
>If you dump your money into a property now, you'll have to claw that cash back
Put 20% down on a property, rent it out, mortgage interest is a tax deduction, property tax/maintenance/everything is a tax deduction, live with your parents, continue putting money into your savings/investments, and at least you own a house at today prices

>> No.21287176

>>21284206
thanks medcool

>> No.21287208

>>21283737
You’re 24. For fuck’s sake don’t buy a house. Wait till you’re 30 something to do this. Houses require a healthy influx of cash (maintenance). Plus if you end up getting married (god help you), your future wife will not satisfied with your ‘starter home’ anyways. So you’ll dip back in (to debt) anyways. Stockpile your cash now in quality equity investments (NOT BITCOIN).

>> No.21287290

>>21283737
i know we're way down in the thread, but im wondering if anyone can answer this
>29
>45k to put down (if theoretically i wanted to)
>613 credit score (not because of debt just avoided credit lines)
>make 16/hr
>would want to buy a 100-120k house

Would a mortgage lender loan to me if I put down nearly 50% despite my credit score (NOT based on poor financial decisions) despite my poverty wage? If I get a house it would be a little fuckaround shack i just don't want to pay rent and be able to rent it out when i go live in thailand to fuck hooker later on

>> No.21287411

>>21284561
My last neighbor got deported for running a chop shop and sending the money to Hezbollah terrorists in Yemen. He was actually better than my current neighbor that's a raging alcoholic that's always screaming at every single person he sees.

>> No.21287989

>>21287290
You could easily increase you credit score within months if you just apply for a credit card. It's easy and if you're not a brainket or consoomer you won't go broke.

>apply for card with $5000 limit or less
>make sure it has 55 day interest free period and no annual fee
>use card once a week, when you fill up your car with fuel or do a big grocery shop
>pay off card the next day or even the same day that you used it

Most banking apps make it incredibly easy to do this. Your credit score should jump to over 700 and you won't be spending an extra penny. This will look better on your mortgage application. You can even get rid of the credit card after if you like, but honestly it sounds like you're smart enough with money to keep one and never use it for anything ridiculous.

>> No.21288623

>>21283737
Being a landlord is a terrible gig. You won't like it because it sucks. Tenants are a real drag after a few years and a few turnovers.

Spend your money on land outside of large metropolitan areas.

>> No.21288665

>>21287290
anywhere houses sell for $120k will be easy as fuck to get a loan. no one there will have better credit or more money.

put less down and spend $5-20k on the house after you buy it. interests rates are as good as they'll ever be and a 30-year loan is a bargain.