[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 76 KB, 800x622, 087A91EE-CA07-45DF-8945-E722F5124D9A.jpg [View same] [iqdb] [saucenao] [google]
4067203 No.4067203 [Reply] [Original]

Is home ownership a meme?

I mean don’t get me wrong, (((rent))) is a total scam. But it seems like such a burden constantly maintaining a home. Everything is always broken and the cost is outrageous. It seems like if you rented low cost and invested the money you would have bought a house with, youd have a solid income stream to cover rent plus more.

>> No.4067249
File: 141 KB, 720x720, 1508938443205.jpg [View same] [iqdb] [saucenao] [google]
4067249

Homes can make or lose you money. Any asset can be productively or detrimentally managed. If youre looking to categorize home ownership you need to assess your own situation.

Personally I want a garage gym, a basement workshop, a (FUCKHUGE) garden and an environment to host social events/ be loud/ piss in my backyard sort of thing.

I like fixing things and DIY but if you dont home ownership may be a meme for you.

>> No.4067275

>>4067203
Or you could buy a cheaper house and pay a low mortgage and make even more money.

You'll have a tough time finding an apartment for less than $500 a month, but you can get a mortgage that cheap.

All you have to worry about is the down payment. Yeah you can invest that money, but then you have $500 a month going down the gutter while your $500 mortgage is going towards your house, eventually you won't have to pay that anymore.

>> No.4067322

>>4067275
True

But I rent a house currently and the plumbing totally fucked up. We called the landlord and he had to pay thousands to have the back yard torn up and re-plumbed. Didn't cost me one cent.

I know renting isn't a wise decision in the long run but it does have perks like not having to pay maintenance.

>> No.4067352

>Buy property in downtown any city
>make downtown the new hip funky place to be
>convince Californians to move there
>wait for real estate to skyrocket
>sell at 20x initial investment
>blow it all on Pokemon cards
Rinse, repeat

>> No.4067358

>>4067322
If your landlord isn't dumb he'd factor in emergency funds like this into your rent, so you're probably still paying for it.

>> No.4067391

Renting is the meme. Ownership is true freedom.

Just don't buy high. Market is too hot right now so I am currently renting and waiting for a big real estate sell off which I am expecting within the next two years.

>> No.4067411

>taking out a mortgage which is essentially a bank creating money from nothing and having to pay back that debt plus interest from converting your time and effort into a wage which the bank also created from nothing

Wagies leveraging themselves to fuck with debt for most of their lifetime is dumb

>> No.4067419

>buy land and build your own house from scratch on it
>still have to pay property tax
>try to live in some forest somewhere
>can't because it's illegal

Defend this. You literally have to pay tax no matter where you are on planet earth.

>> No.4067468

>>4067419
You can live in the ocean for free

>> No.4067537
File: 528 KB, 704x504, HODLjenny.png [View same] [iqdb] [saucenao] [google]
4067537

>>4067203
i would call it a meme

if i wanted to invest, i wouldnt look any directions other than crypto... at least i can sell that to any fucker at anytime with a few clicks... whereas you gotta maintain that bigass motherfucker and pay tax, pay utilities, paint, fucking fix shit, cut bastard grass...

i'd rather hold btc, just seems like a nobrainer... gainz on that next year...