Thanks for watching! Yes, it's the problem of chasing instant gratification. You can't do that with a home because the gratification happens in the long term.
Owning a house is difficult in the beginning, and gets easier. Renting is easy in the short term, but gets difficult over time. When you buy a house, you have the pain of the down payment, then the mortgage and repairs. Over time though, as wages rise, the house becomes less expensive because the mortgage payment is fixed. Unless you don’t have a fixed interest rate. Eventually you pay it off and just have repairs and property tax. The rent will rise non stop.
I do not see a home as limiting. I have a townhouse in Denver and I Airbnb it out. I live in Thailand on the money I make with Airbnb. My rent in Thailand is $207.00/month. I win.
I bought my home 14 years ago and became "house poor" for a few years because we had 2 young kids and were Poor to start with. At this point, rents have gone up 200% but my mortgage is half what rent is. Plus, I can sell my house anytime now and get the 150k home equity I've built. I bought at the right time though... Homes are overpriced in general right now so if you want a home that is for sale at 500k and you feel it should only be worth 420k, Offer 420k! If you can't get it , that's fine. Just stop overbidding on homes that you can't afford. Don't pay 500k because you feel like you have to pay it.
Thanks for taking to watch the video and for leaving a comment. It sounds like you struggled early on but now you are more stable. That is true for any real estate when held for the long term. Agreed! Not unless it is your dream home and would live there for the rest of your life, bidding up a price for a temporary home doesn't make sense.
If you can pay off a home all at once and have low or no HOA fees and property taxes, then owning a home makes sense.
Yup! If one is flexible enough to pick a property in the right neighborhood with no HOA then it makes sense.
Great video about younger people and their unrealistic expectations of owning a property.
Thanks for watching! Yes, it's the problem of chasing instant gratification. You can't do that with a home because the gratification happens in the long term.
I guess the WEF’s “you will own nothing and be happy” is really coming to fruition
Thanks for watching and the feedback! Hopefully not, I love owning.
Owning a house is difficult in the beginning, and gets easier. Renting is easy in the short term, but gets difficult over time.
When you buy a house, you have the pain of the down payment, then the mortgage and repairs. Over time though, as wages rise, the house becomes less expensive because the mortgage payment is fixed. Unless you don’t have a fixed interest rate. Eventually you pay it off and just have repairs and property tax.
The rent will rise non stop.
Well said Frank! Thanks for watching as well. It's unfortunate that most people can't see past 1 year into the future.
Buying a house may still be worth it these days, you just have to weigh the pros and cons. Great vid!
Thanks for watching. Yes! The point is of one did it for the right reasons, then owning makes perfect sense.
As a landlord I love that people want to rent only…
RIght?? Keep that occupancy as high as possible. Thanks for watching!
I do not see a home as limiting. I have a townhouse in Denver and I Airbnb it out. I live in Thailand on the money I make with Airbnb. My rent in Thailand is $207.00/month. I win.
Nice! You were able to make the most of it. Thanks for sharing your story and for watching 👍
Great video!!
Thanks for taking the time to watch!
When the landlord charged us $500 to pour drano down the sink, we decided it was probably better to buy a home.
Thanks for watching and for sharing your experience. Yeah, I forgot to mention the unreasonable requests of some landlords. Lol
Well put, and great reaction video.
Thanks for taking the time to watch!
I bought my home 14 years ago and became "house poor" for a few years because we had 2 young kids and were Poor to start with. At this point, rents have gone up 200% but my mortgage is half what rent is. Plus, I can sell my house anytime now and get the 150k home equity I've built. I bought at the right time though... Homes are overpriced in general right now so if you want a home that is for sale at 500k and you feel it should only be worth 420k, Offer 420k! If you can't get it , that's fine. Just stop overbidding on homes that you can't afford. Don't pay 500k because you feel like you have to pay it.
Thanks for taking to watch the video and for leaving a comment. It sounds like you struggled early on but now you are more stable. That is true for any real estate when held for the long term. Agreed! Not unless it is your dream home and would live there for the rest of your life, bidding up a price for a temporary home doesn't make sense.
The point of owning a home is being able to sell it 5 years later and profit 6 figures.
Sure, and it all depends on the market cycle. Thanks for watching!
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Thanks for the honest feedback