/biz/ - Business & Finance

[Anonymous No.58057174]

>Lease ends in 2 months
>have wife and baby girl
>have the option to rent again for another year and give Shekelberg another $20k of my salary while I save up and wait to afford a home in my ideal neighborhood location
>or
>go for a "starter home"
>It's not the ideal, it's not where I want it to be, but I would own a home

What would you do?

[Anonymous No.58057198]

>>58057174
Get on the property ladder sooner rather than later, at least it'd be mostly yours

[Anonymous No.58057221]

>>58057174
Maybe buy one of those Amazon homes on a cheap plot of land to save up on; then turn it into an Airbnb when you get a real McMansion.

[Anonymous No.58057233]

>>58057174
I'd learn French, leave my wife and kids and move to the south of France!

[Anonymous No.58057263]

>>58057174
Wait one more year. Buy in Q1 2025 in a recession. Thank me later.

[Anonymous No.58057336]

>>58057174
>wanting to own a home
>had a kid first

[Anonymous No.58057342]

>>58057263
Realtor I spoke to says he only expects them to keep going up due to inventory shortage.

[Anonymous No.58057389]

all "starter" homes near me are 400k+... how are you guys coping with this shit?

[Anonymous No.58057403]

Depends on how much cash you have available and the starter homes in your area.

If you can get your mortgage to be lower than your rent then go for it, however you need to take in consideration you'll have less disposable cash for investing since you'll have shit like property taxes, high maintenance fees and other shit that breaks down in your house

[Anonymous No.58057417]

>>58057342
hopefully trump will actually follow through with his promises and have a massive deportation campaign but there is a 90% chance he will completely cuck on it.

[Anonymous No.58057433]

>>58057389
By getting in before or in 2020 when interest rates were rock bottom.

>tfw mortgage for a 4br, 2ba is lower than a 2br, 1ba apartment

[Anonymous No.58057504]

>>58057174
Renting isn't that big of a deal, why psyche yourself out about it. As much as property fags like to boast it is an eternal bubble, I don't think it will remain that way.

If your child is a baby anyways, she doesn't need as much room right now. Wait until she is older to find the right location and house to raise a child in.

>>58057342
I guess it depends on the area, but he's a realtor what else would he say. Realtors have to induce fomo. Do realtors have any ability to forecast macroeconomics changes? Probably not many of them.

[Anonymous No.58057600]

>>58057504
>I guess it depends on the area, but he's a realtor what else would he say. Realtors have to induce fomo. Do realtors have any ability to forecast macroeconomics changes? Probably not many of them.
Well if inventory is actually a problem I don't expect to suddenly see a bunch of new homes built in just a year.

[Anonymous No.58057604]

>>58057504
realtors are some of the most useless people on the planet, they should be mocked and ridiculed often.

[Anonymous No.58057618]

>thinking owning a home is better than renting
actual financial noobs. its worse/the same as putting the money in the bond market unless you are a landlord, retards. shit will not just automatically get cheaper and easier, you will just be further leveraged and paying the jew banks their 7 percent. dumbasses. fucking sit down and do the math on owning and paying for maintenance vs renting and putting that money into a market. i own 3 properties and would at this point rather have it all in cash/stocks/bonds. you nerds missed out on the equity bump and shit will not happen again until next crisis. stop blaming your problems on owners

[Anonymous No.58057619]

>>58057198
FPBP

[Anonymous No.58057715]

>>58057342
Wow a person making money from the very thing say it only goes up???

>>58057174
>Own
Yeah youd own debt

[Anonymous No.58057728]

>>58057342
>Realtor I spoke to says line go up
Also, they in specific are desperate now that their fee structure just got BTFO.

[Anonymous No.58058642]

>>58057389
You're gonna have to find a place that needs the type of fixing you're comfortable with doing yourself
Most people are fucking lazy and will pay a 5-6 figure premium to not do that

[Anonymous No.58058666]

He fell for the have a wife and kids meme kek. How old are you, daddy? Enjoy your life as a slave

[Anonymous No.58058693]

>>58057174
You’re worrying about giving shekelberg 20k in rent but don’t have a problem with giving shekelberg 5k in property tax, 5k in maintenance, 10k in mortgage interest?

[Anonymous No.58058695]

>he's devoting his life to the endless perpetuation of a completely pointless cycle
Fuckin kek

[Anonymous No.58058730]

>>58058642
A lot of those homes are being sucked up by flippers and investment groups who have the deep pockets to compete with a beginner home owner. I am in the process of flipping my late grandmother's home and I get at least 5-8 unsolicited calls or post cards asking to buy the place because I've yet to repaint it.

[Anonymous No.58058856]

>>58057174
Buy or next year you will find yourself priced out of the starter home, you can always flip it or rent it out later

[Anonymous No.58058859]

>>58058666
Begone Satan. I WILL be fruitful. I love my family.

[Anonymous No.58058921]

>>58058730
Yeah I bought a very undervalued house too and I'm getting similar offers.
The ones that state a firm cash offer are all hilariously lowball though (30-40% under appraisal)
It was rough shopping for a house, and its only going to get rougher now that the gloves are off and fed-backed investment companies are allowed to compete with the plebs
Find a place you like in an area that you like and try to snipe some house that was not cared for by an elderly homeowner for the last few years.
It will suck for a few years, but you don't want to keep getting price gouged by the rent life
Rather live in a 2000sqft box by myself than pay the same (or more) in rent for less space, less privacy, and sharing walls with people I'll never meet

[Anonymous No.58058964]

>>58058859
Based

[Anonymous No.58059021]

You need to live in a home for two years before you can sell it for no capgains and roll your equity into a new house. So if you do buy a house, make sure you can handle living there for two full years.

Honestly it depends on quite a lot of things, not just what you included in your post.

[Anonymous No.58059029]

$20k down? LoL. There are people paying in full for starter homes

[Anonymous No.58059067]

>>58059029
That wasn't what my OP said at all. The starter home I was recommended was a bit below $400k for 0 down. But $20k was just my ball parking how much rent I would pay for another year.

[Anonymous No.58059089]

>>58059067
>below $400k for 0 down

I doubt they'll have a hard finding prospective owners who'll pay in full. Unless of course you know the seller

[Anonymous No.58059120]

>>58058859
Super based

[Anonymous No.58059172]

>>58057233
>learn arabic

[Anonymous No.58059213]

I would do some coke and play chess online. And you know what? That's exactly what I'm going to do.

[Anonymous No.58059219]

>>58059029
I paid $0 down and got a 3% interest rate. House is now worth $160k more than it was when I bought it back in 2020

[Anonymous No.58059280]

>>58059219
So before/during covid

[Anonymous No.58060718]

>>58057174
starter home anon
you can rent it in a few years.
though the market is rough, so get a real shitty starter....

[Anonymous No.58060852]

>>58057174
https://dexscreener.com/solana/jaj94ye1awstrkmv1pymkrgfqsrtpnzcgf8pydrwdchq

[Anonymous No.58060903]

>>58057174
Use this calculator: https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html

We don’t know your situation as intimately as you so you’ll need to configure the sliders to match your situation. Just remember: owning a house requires fees like property taxes, major capital repairs, HOA, etc. — as such, ensure you know about ALL potential costs you could incur if you choose not to rent. If it makes more sense financially and you’re okay with losing the short-term flexibility of being able to move (without losing money), then buy a house.

>starter house?

That’s just a term that means nothing. It hints that you’ll later buy another, bigger house. However, what matters in all scenarios is that you comfortably afford your house and you’re prioritizing for the most important things in your life. No need to think of a home you can afford as a “starter” home if it doesn’t meet your needs.

[Anonymous No.58060932]

>>58058695
So are you, the cycle of contributing absolutely nothing but cynicism and misery to others on this board. Therefore, kindly, kill yourself! :)

[Anonymous No.58061801]

>>58057417
Will never happen, Amerimutts don't have what it takes to round up 40 million people and send them back. You do not have the balls. You aren't even ready for what that would look like. It's typical Amerimutt hot air. All bark and no bite.

[Anonymous No.58061844]

>>58057174
buy at least an acre of farmable land and buy one of those Swedish made manufactured homes

[Anonymous No.58061867]

>>58057174
i'm in the same boat. just keep saving and DCA your money into index funds or high interesting bearings CDs until you can outright buy a home in cash.

[Anonymous No.58061878]

>>58057174
Get the starter home, anon. It could be a decade before house prices come down again. If you are ready to buy just go for it. Burning 20k a year to save 20k on a house price is retarded.

[Anonymous No.58061900]

>>58057198
Someone post the chart of mortgage versus renting

[Anonymous No.58061922]

>>58059219
You can't sell it

[Anonymous No.58061967]

>>58057174
>have wife and baby girl
pic of your naked wife or gtfo

in all seriousness you already fucked up from the start, who int their right mind has a kid BEFORE settling down and owning a home? it's like buying vinu high and panic selling low, you're absolutely fucked anon.

[Anonymous No.58062131]

>>58057618
Not everyone wants to pay another man to live in their house. Having your own home is worth more than min/max financials.

[Anonymous No.58062150]

>>58058693
Yes because at least you build equity in your home. Rentfags just face ever increasing rent cost and own nothing.

[Anonymous No.58062182]

>>58057174
Rent the cheapest place in a nice area away from niggers
Dump money into crypto
Buy a house later on

[Anonymous No.58062187]

>>58057174
you're not going to have any equity in your home for the first 7-15 years on a 30 year mortgage depending on how fast the market goes up. But personally I'd get into a home anyways if you plan on staying there for a decade or more. Might as well have something when the time comes to upgrade.

[Anonymous No.58062257]

>>58058730
Dont flip grandmas house keep it in the family and rent it.

[Anonymous No.58062278]

>>58057174
>Realtor (probably female) who has no incentive for you to buy now whatsoever, and who is likely retarded, says x about economy and i listen
lol, LMAO even.
nigger you're already fucked

[Anonymous No.58062787]

>>58061967
>in all seriousness you already fucked up from the start, who int their right mind has a kid BEFORE settling down and owning a home?
99% of human existence.

>lets wait until every single thing is 100% perfect
This is not reality, it's an incredibly rare circumstance to have that luxury. Most men in the past knocked the wife up first, then bought the home out of a need.
But even then, there's a good chance the majority of us won't be able to own a home. I'm not gonna not start a family and enjoy all the love that brings just because times are tough. All I can do is try my best, and I am. Virgin misanthropes like you wouldn't understand. Its why I have a wife that was willing to have my children and you don't.

[Anonymous No.58062908]

>>58058859
Giga based

[Anonymous No.58062931]

>>58057174

Get AGRS, wait to NVIDIA announcements, and theres your missing money

[Anonymous No.58062941]

>>58057342
wow, a realtor told you price go up forever?

[Anonymous No.58062959]

>>58062931

AGRS sucks anon

[Anonymous No.58062972]

>>58062959

The papers, the code, the team, all in Tau looks legit

[Anonymous No.58062973]

>>58061878
>>58062131
>>58062150
>t. guy who just bought the top at 7% interest

[Anonymous No.58062977]

>>58062972

And you look like a looser, anon, go to sleep plz

[Anonymous No.58062984]

>>58062931

You remember me I have that sht, ty

[Anonymous No.58063068]

>>58062787
there's condoms and other methods to prevent that from happening you absolute retard
have fun raising your kid

[Anonymous No.58063072]

>>58062787
from 1-10, rate your wife and I’ll decide if being a virgin is worse than your life

[Anonymous No.58063671]

>>58057174
Just take the starter home, it's better. Your wife should try to make it beautiful with you.