I live in a big small city 150k+ people and 250k doesn’t get you in a good neighborhood it gets you in a bad neighborhood all of the time. 375k-600k is good neighborhood prices
Renting for 30 years is just 30 years of cash blown up. With a Mortgage you own an almost certainly massively inflated house since you bought it. The monthly payment is less than most 2-bedroom rentals in my area lmao. You also need to move away from this idea of a "starter home". That's horseshit spread by people who sell and rent houses. Your first house should be your last house. You forgot when you talk about taxes and everything. You also OWN your house. Instead of paying someone else's mortgage and interest.
Yeah renting isn’t any better. Best case scenario imo is saving up to put a big down payment on a home or a decent priced condo or townhome or alternative housing options. I was just saying the interest you pay with a mortgage is insane
Here in the uk we have a cost of living crisis it’s so hard to get onto the property ladder nowadays. The average moving out age has gone to 32. It’s rough out here
If you are paying rent, you are paying somebody else’s mortgage, their property taxes, their insurance, etc. Plus, it never ends because you never “pay off” rent, and you never get any of it back because you don’t own an asset which can be sold. A mortgage is ridiculous, but paying rent is worse. If I paid rent on my current house from now til the day I died, I could expect to pay out something like 1.3 MILLION in lifetime rent. Once I’ve paid off my mortgage and sell my house, I will be out something like 150k all said and done. It does suck but there aren’t a lot of better options.
If you’re not gonna plan on giving extra payments towards your principle every year than yeah it’s gonna suck. But I knew this couple who would give an extra payment which would all go towards principle amd they finished in 17 years!!
That’s not how it works unfortunately. We are the ones who have the power on prices if we cut the demand they’ll have no choice but to cut the prices but if we keep spending what we don’t have they’ll keep rising the prices
Don’t feel embarrassed about messing up the year. Personally, ever since 2020, my sense of time has become warped. I still think it’s 2022.
I live in a big small city 150k+ people and 250k doesn’t get you in a good neighborhood it gets you in a bad neighborhood all of the time. 375k-600k is good neighborhood prices
Wow that’s ridiculous
Renting for 30 years is just 30 years of cash blown up. With a Mortgage you own an almost certainly massively inflated house since you bought it. The monthly payment is less than most 2-bedroom rentals in my area lmao. You also need to move away from this idea of a "starter home". That's horseshit spread by people who sell and rent houses. Your first house should be your last house. You forgot when you talk about taxes and everything. You also OWN your house. Instead of paying someone else's mortgage and interest.
Yeah renting isn’t any better. Best case scenario imo is saving up to put a big down payment on a home or a decent priced condo or townhome or alternative housing options. I was just saying the interest you pay with a mortgage is insane
Here in the uk we have a cost of living crisis it’s so hard to get onto the property ladder nowadays. The average moving out age has gone to 32. It’s rough out here
Wow that’s sad, we’re going through the same thing here in the US
If you are paying rent, you are paying somebody else’s mortgage, their property taxes, their insurance, etc. Plus, it never ends because you never “pay off” rent, and you never get any of it back because you don’t own an asset which can be sold.
A mortgage is ridiculous, but paying rent is worse. If I paid rent on my current house from now til the day I died, I could expect to pay out something like 1.3 MILLION in lifetime rent. Once I’ve paid off my mortgage and sell my house, I will be out something like 150k all said and done.
It does suck but there aren’t a lot of better options.
Yeah rent is worse than a mortgage but there are better options financially than financing a 350k house such as a buying mobile home or tiny home etc
Better than rent though because you’re building equity instead of payments not giving any ROI.
It is
If you’re not gonna plan on giving extra payments towards your principle every year than yeah it’s gonna suck. But I knew this couple who would give an extra payment which would all go towards principle amd they finished in 17 years!!
15 year is the way to go
Get into a trade now and open a Roth IRA max out every year (7000) max and you’ll be a millionaire by the time you’re 40
It’s good advice although I don’t think it would make me a millionaire by 40
First comment? lol
But yeah mortgages suck. So does rent. All of it 😂
Facts lol
Hopefully the prices of everything drop when trump gets in office
Haha no 😂
Just like last time, right??? oh right. Nope.
This comment is proof that people keep thinking the ultra wealthy will save them, every time
That’s not how it works unfortunately. We are the ones who have the power on prices if we cut the demand they’ll have no choice but to cut the prices but if we keep spending what we don’t have they’ll keep rising the prices
@@hoosiernative9668 that’s real
350 in Cali gets u a luxurious cardboard box.
Wow they really price folks out there