Don’t Buy a House UNTIL You Do This!
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How much did you spend on that with all of your properties Graham? How many do you own now?
Graham just had to do a ton of repairs on them! 😂
I don’t care how much maintenance is, owning a house nothing compares
That is a very financially illiterate mindset. Though that’s exactly why most people should buy a house. They are too financially illiterate to invest properly otherwise.
THIRTY GRAND! 👹
Very wise
Yes that’s right minions just rent… You will own nothing and you will be happy.
Less than rent that’s for sure.
No, in most cities, renters would be better off, if they invested their saved mortgage money into an index would’ve been richer than the house owner. Only a few mega boom cities like Vancover (Canada I know) would have outperformed but only slightly
Not in my area it’s cheaper to rent you can get a nice 2 bedroom apartment for $1400 to $1700 but a 2 bedroom house costs over $300,000 payments are $2500 a month, property taxes are high. I have been looking to buy but it’s so expensive
Who the heck pays 20 grand for a roof? It only costs 20 bucks an hour to pick a guy up from infront of home depot and a couple grand in material
Depends on the size of the house
do people really not track the numbers and do the math?
I automatically track any/all my income and expenses and I don’t even consider myself anywhere near middle-class yet.
And… inflation. 😀 When you bought a home in the 80s for $100.000 and it’s worth $400.000 today it hasn’t gained anything today.
median home in 1989 was ~$119k compared to $410k today. $119,000 in 1989 is worth ~$310k today due to inflation so houses have definitely beat out inflation.
Property owner wants you to be an eternal renters i am soo shocked 😂
Great another one trying to sell us on renting a property from them instead of owning for ourselves. We see through all of your shenanigans. Lol
What happened to you bro? You’re spreading misinformation just for the shock and attention?
That speaks to the low quality of houses in usa, ive seen plenty of houses from 50-60 years ago in europe, chile and they all look great with barely any repairs…
No this is definitely not true. Old houses and apartments here in Europe have to go through very expensive repairs as well.
This is primarily true for investment properties but not primary residences. Most people I see who are purchasing investment properties right now are losing money immediately by not being able to rent them for their mortgage. however, a primary residence is still a good idea for your regular joe in the long run since at least your monthly payment is going toward an asset and interest is tax deductible. Plus, you can put your starbucks budget into your mortgage instead and save yourself $30k on interest over the life of your mortgage
Land lords pass the costs to their tenants and don’t always do the repairs when needed. Buying will always be cheaper in the long run than renting. If it wasn’t, you wouldn’t see people investing so much into buying properties to rent out.
Just paid off my mortgage a few months ago 12 years early. All my mortgage payments were about 150% of the “price” of house. Interest is the devil and that does not include hoa payments