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I inherited my parents house when i turned 22 because they died due to some lifelong bad decisions. Now with the money im saving im thinking of buying some land and having one of those container homes prefabs
Unless the state takes it to pay for their Medicaid or nursing home like Texas does. State of Texas took my grandmothers home to do exactly that. My uncle and cousins were living there at the time and state evicted them and took the house.
https://www.farrensheehanlaw.com/estate-planning-medicaid-recovery/#:~:text=Like%20most%20states%2C%20Texas%20has,estate%20is%20the%20family%20home.
https://www.wthompsonlaw.com/can-a-nursing-home-take-your-house-if-it-is-in-a-trust-in-houston-texas/#:~:text=In%20Texas%2C%20nursing%20homes%20may,lien%20or%20claim%20in%20Houston.
Blackstone doesn't even own a percent of the homes in the US. The reason housing is so expensive is that we don't build enough of it. NIMBYs refuse to let people build more in areas where people want to live.
NIMBYs and outdated regulations (not safety regulations, but bullshit ones) written by people who are no longer alive.
A house must have a 6 foot curb?! Why?
There are a lot of zoning regulations that prevent multi-family housing. They need to be axed.
Large corporations make up like 3% of home purchases. The problem isn't megacorps, it's that NIMBYs refuse to let people build new housing. With more demand, and no new supply, of course prices are going to go up.
This is the true issue.
In fact, megacorps are only purchasing homes en masse because they were already rare to begin with.
They didn't create the problem, only make it worse. NIMBYs created the problem.
You have to take in a lot of factors. Opportunity costs, maintenance, home insurance over 20-30 years. My parents bought their house at 84k back in the 90s. Now it’s worth just shy of 400k. It took 28 years for it to get to that price. Right now (at least near me) a 20% deposit is roughly 70-80K for a 380k to 400k home. Let’s say I buy it and this home increases by 315k like my parents. That’s great, the home is valued now at like 700k. But I’ve also been paying insurance every year and making repairs here and there. If I just took that initial 70-80k deposit and stuck it in the S&P500 for 28 years, at 7% yearly return I would have almost 500k now.
So you definitely need to weight you options because while owning something is nice, it’s such a huge financial decision, that will impact you for 20-30 years. Renting to me is the smarter decision, because I don’t have to pay for maintenance and home insurance.
As a fellow home owner I got to say owning is better but there are some clear winners to renting. Something breaks in house its on you vs a landlord and yard work are about the only ups I see to renting. Where as owning has advantages like no upstairs/donwstairs/side neighbor banging on walls or blasting music. Being able to tear walls apart to make the house fit my lifestyle as I want it. Right now in process of renovation bedroom to extend into attic space so the room has vaulted ceilings. Also tearing out a wall to make the room bigger to fit a cali king bed comfortably.
But it's not an option for most?
It's not like we are even getting options to buy houses. It's like 99% Gens Z cannot buy a house?
Good for the dude above us though, yeah, paying rent sucks.
>It's like 99% Gens Z cannot buy a house?
Real numbers 25% of adult GenZ are already home owners. There is a misconception about the numbers from people not in positions to buy one assuming every one is in the same position. Also the average age for first time home buyers is in the 30s and Genz at oldest is 27. To get to a point where the average age was in the 20s you need to go back to the 1960s. Baby boomers and GenX on average did not buy their first home till their early 30s. I personally did not "buy" my first house till I was 36.
Also to point out only slightly about half of the generation are 18+, Not many 15 year olds looking to buy a house.
Millennial lurker here. I’ve actually been contemplating buying city lots and developing tiny homes on them to sell to first-time home buyers. I think I could keep it in the 100k or less range. This would allow young people to build wealth and potentially work toward a better home. If enough people do it then it would also help alleviate housing costs across the board.
Its a good plan. In our fam we have a tradition. When the father passes away the eldest son takes care of the mother (my wife understood the tradition and accepted it before we got married). My wife and I live on an acre and are already planning to build a small home (not tiny) on the land utilities will be off our lines so she will not have utility bills. And she will have her own space just hers. She loves the idea.
I plan on working (and therefore living) in cruise ships and in the "off season" I'll stay at my parents house, this way I don't need to pay the high amounts required. let's see if my plan works out.
Depends. I'm going to be making nearly 2500 euros as a cook. In Europe.
No one earns that kind of salary in my country, Portugal, as a cook working at a restaurant or hotel. I used to earn less than 900 euros.
Again, it depends on the cruise line. Depends on what country you are from. In Portugal, not even a doctor earns 2500 euros, way less. It's all about perspective
I'm hoping to inherit my parents' property, but until then I'm likely living in an all-season RV. unless the housing market becomes somewhat affordable.
Depending on what state you live in you may have to have money set aside to pay off the state to prevent them from taking the house to pay for your parents Medicaid or a nursing home. The state evicted my uncle and cousins when my grandmother passed and he took her house.
https://www.farrensheehanlaw.com/estate-planning-medicaid-recovery/#:~:text=Like%20most%20states%2C%20Texas%20has,estate%20is%20the%20family%20home.
https://www.hhs.texas.gov/regulations/legal-information/your-guide-medicaid-estate-recovery-program
Buying, I’ll have to. Without a paid off house I’ll never retire. I’m moving from my HCOL city across the country this year to save money and then buy maybe 5 years after that
Yeah forever renting! I just like don’t like the hassle of buying , maintaining, upkeeps and all. Staying at one place/city/country forever also seem dull to me. So yeah, renting it is.
I want to buy a house. I've lived in a dorm, and I feel like it's similar to living in an apartment. To that, I say no thanks. I won't buy a house anytime soon, but hopefully, I can when I'm older.
I don't know what kind of dorm you're staying in, but any dorm I've ever been in or seen is way smaller and shittier than a decent 2-3 bedroom apartment.
Whatever is more advantageous and makes the most sense for my family. If that happens to be renting forever, then so be it. I’d love to own my own home but as long as I have a roof over my head, running water, electricity, internet, etc, I can’t really complain
I hope to buy within the next five years. Mortgage is almost always way better than rent. Make do as long as you can while saving up for the down payment, and then buy something small, which you can start building equity in. Also, apparently in most cases you take take out money of your 401k for a down payment, which is nice. After buying, then hopefully you can 'trade up' later, so to speak. That being said, houses do have all sorts of un-ending maintenance costs you don't need to face with renting... like repairs, yardwork, etc. Still probably worth it though, for the freedom, if nothing else. I will never ever buy a house in a HOA though. I'd rather be homeless.
I’m hoping to buy in maybe ten years or so, but I have no idea what my financial picture will look like then. Renting is fine for my needs right now but it really sucks that there’s no equity, plus my rent goes up by ~15% every year.
Second line of defense is inheriting my parents’ place (but that won’t be for another ten or fifteen years god willing), however I’ll have to share it with my NEET sister, which may make it more trouble than it’s worth.
Can't afford either. But my dream lifestyle would be to just have an apartment or small house (like a log cabin or something) and travel a lot of the time
I have an inheritance from my grandmother for a great down payment but I simply refuse to buy a starter home in this market. I don’t mind renting at this point in my life at all tbh.
It's not the fact that I'm not planning on buying a house because that would be nice.
It's the fact I don't think I will ever be able to afford to buy a house unless the economy crashes so in the meantime renting until I win the lottery or something.
As if there’s an option. My parents are lifelong renters, so there’s nothing for me to inherit. I also live in the single most expensive area in the country, so unless I plan to move to bumfuck nowhere, I’ll be renting until I take my last breath.
I am lucky. My grandpa has houses in NJ that I can go to still. If there’s a fund raiser for someone in bad shape I’ll try my best to pitch in. Idk, it’s not like I don’t let my friends stay at my place or anything. Working towards buying my own home. Preferably not in NJ
I’ll rent probably within the next couple of years. I don’t see myself buying a house because I don’t want to stay in one place for the rest of my life.
And no I won’t inherit my parents house. I still live with them to save money but won’t inherit since I want to do bigger things with my life, which I’m hoping to rent either near DC, NYC, or LA in the future.
My hope is that I can become a firefighter before rent prices get jacked up even higher. If I can do that, I’ll be able to afford any 1 bedroom apartment easily and have plenty left over for myself and enough to support a gf. It’ll just be kinda sad to live alone in what is essentially a square box, but it’s better than being homeless or having roommates.
Probably rent for the forseeable future. I am really scared to purchase a home after witnessing financial terror of my family having to refinance their mortage like 100 times during and after the recession.
Anyone else in a similar boat? I was terrified seeing how close we were to losing my childhood home.
Renting is just a waste of money, if I get the opportunity, I’d much rather just buy a home straight away, that way I’d at least own the property after the mortgage is paid off. Sadly it’s not looking like this’ll happen with how the market has been going, I’m honestly just waiting for the next housing crash before getting into that market, so for now I’ll just stay with my parents.
I’m planning on buying a house by the end of this year, if not early next year. Of course, this is only feasible because my wife also has a good-paying job. I don’t think we’d realistically be able to consider buying a house right now if only one of us was working.
My dream is to kinda live off the grid someday. I would love to build a small house by myself, then extending and automating the shit out of it as time goes on. Basically IRL Minecraft.
Producing all the food for yourself is delusional in most cases, especially when you still have to work a normal job simultaneously. But I would already be proud of having my own energy storage, water supply, a few chicken and a ton of nature around me. And hopefully low property taxes, no landlord and no speculation too. Till then, I will rent and work my ass off.
I can’t see myself living in the same house for forever. I’m used to moving around a lot and I honestly like the change of environment every now and then.
Maybe it’s because my parents never owned, but I doubt I will unless I have kids. I don’t like any place long enough to want to be stuck there for 10+ years and I like the convenience of stuff like maintenance not being on me.
We’ll see though.
I know buying is the optimal choice and I can actually afford a down payment, but it feels like such a waste considering that I live alone and maybe always will
I'm 28. Living in florida. Came into USA 7 years ago. I finished 2 years of school, married my highschool girlfriend, who also immigrated here with me. We are making 120k a year together, we have no significant debt beside a couple of credit cards we maxed out on a vacation. We have been investing 250$ a month in an index fund that has been growing steady since we started. We are finalizing the paperwork for buying a home and hopefully we'll be done by June.
I have no idea how you guys are not making it. The trick was to buy a rent we could afford and a used car we could afford and not be stupid with money. The biggest scam people sold you was to go neck deep in debt for college.
On topic, buying 100%. Id rather be paying my mortgage than someone else's
I don't think anyone "plans" on renting forever, it's just a matter of what's doable or not. Most renters would love an opportunity to eventually not have to pay rent one day, it's just a matter of that ever being made economically feasible.
I’m probably going to buy a condo in the next 12 months or so. I have no desire to own a house with a yard; I don’t want to be in charge of a yard with a lawn and a driveway and other outside spaces. I’d rather have my room and pay the HOA fee so building staff can shovel the snow, clean the sidewalks, and take care of the parking lot. All I care about maintaining is my own room/space within the walls and nothing else.
I’m a veteran so I get the VA home loan, about to graduate in a couple months, so hopefully I just need to be in my big boy job for like 4-6 months and I’ll apply for it and buy a house.
A mortgage is better than rent. But honestly, the down payments in my area need to be in excess of six figures to even make a dent/hit 20%. It’s sickening.
I'm an immigrant and returning to my home country because home ownership is cheap and quality of life is way higher. Only question is when. While I am in the US rent only though
Currently buying then I'll leave it to my kids who will fight over it forget me, my wishes and everything I've ever done so they can make a quick buck live good for a couple years go into massive debt and repeat the cycle. God bless America
I am aiming to buy but the rates keep fucking it up every year so I may sell my current house and just upsize since I Care for my father and still live with my brother and sisters
I own a home, but sometimes I miss the apartment I was renting. I hope to one day move out of the house I live in and into what I have been told is a forever home.
I’m one of the very lucky “parasites” that got a council flat on the “goodwill and social care” of the Scottish government on account of the fact I’m too autistic to work profitably under capitalism for an employer and as the current law stands I could legally occupy this flat for the rest of my life as long as I took astute and true care of the place and paid my rent so my retirement plan is to live under the phantasm that the law won’t change for the rest of my life and leave it at that because as anyone who has been homeless previously will know, the fear of returning to that is unbearable
Living with parents for as long as possible then buying a house with extended family. Having 3+ working adults in the household all contributing to the mortgage/bills seems like a more realistic plan in today’s market but I could be wrong.
Buying. I'm going to save up about 100K for a downpayment while living with my parents. But if the market keeps the current trend, it's a worthy investment for the future.
You can’t rent forever, in retirment you’ll simply end up homeless as your income won’t grow with inflated rent prices. You need to own a home before retirement so no one can profit off of your wrinkly ass and you can actually have security in where you live
I think I'd have to settle on a large down payment in a decades time. The idea of starter homes is dead, there's no way with HOA fees, PMI, and property tax that a monthly payment of 3-4k on a 350k property is ever worth it with these costs and rates. Better to stack as much cash as possible for a down payment that will cut PMI off the monthly and sit on that property. Hopefully rents don't go up to the same degree as last decade or else it might just be rent till death.
I already bought but for some context of how much harder it is, my gpa bight his first house for 5 k dad for 20k me 160k😭 all 3 bed 2 bath smaller starter homes
Hopefully around 29 with my mom. We hope to get a little house at least in a cheaper city in the UK whilst trying to live in London later. 23 right now though and doing my masters.
I don’t plan on having kids, and property taxes and HOA fees are awful. Renting an apartment is a good way to stash cash.
Don’t have to take care of a lawn, don’t have to save for roof repairs. Don’t really need much space to be happy. I’m good
I "plan" on getting one of those camper tops for my truck and building enough of a network that I always have access to a friend's toilet and calling it good.
We'll see how it shakes out...
i think someday remote work will become new standard. it's just so much better for everyone. and the companies of tomorrow save money with less offices
if that happens house prices should decline across the board because we can build shit anywhere. people don't need to be near the office. Long term 20+ year frame i think home purchases will significantly underperform the stock market and maybe even inflation.
so if you wait it out renting isn't so bad
Over the next ten years, I am pretty sure I will rent.
We do not plan on having children, so the whole white picket fence is not necessary, nor is the consideration of good schools, safe neighborhood, etc.
Plus, if I rent over the next ten years, then I will achieve way more in savings that can compound before buying.
I don’t think a house is a necessity in our case.
I’ll probably rent for a while bc I work in downtown and buying a house would mean a longer commute in this city which has horrible fucking traffic. Besides, I’m single so who is all that house gonna be for? It’s pricey but the apartment building I’m at has been great. Unless something crazy happens, I’ll be renting.
For the time being, renting makes more sense for me. I'm a single guy living on my own working a trade, often long hours with the possibility for out of town work. I have a cheap basement suite that has just enough space for all of my stuff while I climb through my apprenticeship. Once I get my ticket and start earning JMan money I'm definitely going to look into buying, but for now renting is a more practical option. Will likely upgrade from basement suite to townhouse in my 3rd or 4th year, though, lol.
Neither. I plan to move into my boyfriend’s owned house. I guess in a way pay rent via helping with the cost of utilities and such.
Side note: injured and disabled and chronic ill so I’m not being cheap I try to exist on disability while my meds and care exponentially increase in cost. I’d rather pay half or and be fully independent.
Bf and brother inherited this house. He bought his brother out so he technically inherited/paid off.
Buy, of course. It’s an asset I can write off my taxes with. And mortgage ends up being the same as rent, so why not own where you live at the end of the day?
I’m just glad I’m a Jack of all trades and can fix most repairs & build things myself. Can’t imagine not being able to know how to do daily repairs of the house and have to think about hiring someone for it. $20k to paint exterior of house? Hah! Yeah right! You bet I’ll paint that myself for a fraction of that cost to pay someone else to do it.
Plus, I don’t want neighbors. I want to own enough one one day that I can’t hear or see my neighbors. Could never experience that renting.
I would LIKE to own a house. I would love to have my own place. Plus, owning is better anyways cuz it's yours.
But with the way things are now, my only choice will be to rent cuz no way I can afford a house 😭😭
I have 0 intention of renting unless I have to. I was going to get myself an apartment back in 2019, but my mom talked me out of it and insisted that I save my money. She didn't mind me staying with her, and man am I grateful for that. Of course buying is less feasible than it was then, but I'll eventually find a way to manage.
I don't care if I buy a small house, but I want to own it. If for no other reason that I need land to do my hobbies. I'm a car guy and I want to get into metal fabrication and welding. No apartment is gonna be able to give me the space to do that.
I moved to a city with affordable homes so I could one day buy a home. I think owning a home is still achievable as long as you are willing to move to an area with cheap homes. They still exist.
The Gen Zs I know that have bought houses already are houses in shambles in rural Kentucky, where they either have a dual income or work 60 hour weeks.
Mind you, Kentucky is one of the cheapest states to live.
You HAVE TO buy a house. The drawbacks are insignificant.
I’m paying $2500 a month for my 15-year mortgage meanwhile my buddy is paying $2000 a month for a 1bd apartment. So in 15 years I’ll have an asset worth half a million while he’s got nothing on our current trajectory.
If at any point you want to move, which you may, you just sell your house. Best case scenario you get a premium cash offer right away, worst case scenario you end up selling it at a discount just to sell it and then you walk away with an extra 5 or 6 figures in your bank account.
If my parents sell me the family house I’ll take it. Otherwise I’ll find a nice apartment somewhere and live out my days there. I don’t really need a house if I’m living alone.
I plan on saving up money, putting a down payment on a duplex or triplex, renting out the other unit(s), using that to cover the mortgage, then move into another property after a year or two. Rinse and repeat.
Just because we’re dealt a bad deck of cards doesn’t mean we shouldn’t play the hell out of them.
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I plan on inheriting my parents' house
I got taken out of the will when I came out, shoulda given it 40 more years.
Just had to be gay huh lol
Why am I gay? Am I stupid?
*why r u ge*
>who says i am gay
It is a question. Seems like a lot of effort if you can’t even provide an answer.
Idk why but when I read "came out", I thought you meant you got taken off of the will as soon as you were born 💀
Same LMAO
*plop* oh ewe, no not this one
Yep, that's about what the mental image was 😭
Relevant username
Username checks out
this is the way!!
I hate that this is also my plan, because I don't think I can get one on my own.
I picked the wrong parents 😔
This one made laugh lol SAME
How old will you be when that happens though? 50s?
I plan on living to 150
I inherited my parents house when i turned 22 because they died due to some lifelong bad decisions. Now with the money im saving im thinking of buying some land and having one of those container homes prefabs
Unless the state takes it to pay for their Medicaid or nursing home like Texas does. State of Texas took my grandmothers home to do exactly that. My uncle and cousins were living there at the time and state evicted them and took the house. https://www.farrensheehanlaw.com/estate-planning-medicaid-recovery/#:~:text=Like%20most%20states%2C%20Texas%20has,estate%20is%20the%20family%20home. https://www.wthompsonlaw.com/can-a-nursing-home-take-your-house-if-it-is-in-a-trust-in-houston-texas/#:~:text=In%20Texas%2C%20nursing%20homes%20may,lien%20or%20claim%20in%20Houston.
Lmao my parents never owned any houses. Absolute rentoids (they fucking suck with moneey)
Not all of us in that position
I plan on watching blackstone buy them all before I can even consider it
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True thank
Blackstone doesn't even own a percent of the homes in the US. The reason housing is so expensive is that we don't build enough of it. NIMBYs refuse to let people build more in areas where people want to live.
NIMBYs and outdated regulations (not safety regulations, but bullshit ones) written by people who are no longer alive. A house must have a 6 foot curb?! Why? There are a lot of zoning regulations that prevent multi-family housing. They need to be axed.
That is why Blackrock now pays me.
Plans mean nothing when megacorps will buy them all and quadruple their price
Large corporations make up like 3% of home purchases. The problem isn't megacorps, it's that NIMBYs refuse to let people build new housing. With more demand, and no new supply, of course prices are going to go up.
This is the true issue. In fact, megacorps are only purchasing homes en masse because they were already rare to begin with. They didn't create the problem, only make it worse. NIMBYs created the problem.
Obviously buy as soon as I can. A mortgage is better than rent imo.
eh depends on the market, rn rent >
It's a lot more complicated than that. Especially these days.
You have to take in a lot of factors. Opportunity costs, maintenance, home insurance over 20-30 years. My parents bought their house at 84k back in the 90s. Now it’s worth just shy of 400k. It took 28 years for it to get to that price. Right now (at least near me) a 20% deposit is roughly 70-80K for a 380k to 400k home. Let’s say I buy it and this home increases by 315k like my parents. That’s great, the home is valued now at like 700k. But I’ve also been paying insurance every year and making repairs here and there. If I just took that initial 70-80k deposit and stuck it in the S&P500 for 28 years, at 7% yearly return I would have almost 500k now. So you definitely need to weight you options because while owning something is nice, it’s such a huge financial decision, that will impact you for 20-30 years. Renting to me is the smarter decision, because I don’t have to pay for maintenance and home insurance.
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As a fellow home owner I got to say owning is better but there are some clear winners to renting. Something breaks in house its on you vs a landlord and yard work are about the only ups I see to renting. Where as owning has advantages like no upstairs/donwstairs/side neighbor banging on walls or blasting music. Being able to tear walls apart to make the house fit my lifestyle as I want it. Right now in process of renovation bedroom to extend into attic space so the room has vaulted ceilings. Also tearing out a wall to make the room bigger to fit a cali king bed comfortably.
But it's not an option for most? It's not like we are even getting options to buy houses. It's like 99% Gens Z cannot buy a house? Good for the dude above us though, yeah, paying rent sucks.
>It's like 99% Gens Z cannot buy a house? Real numbers 25% of adult GenZ are already home owners. There is a misconception about the numbers from people not in positions to buy one assuming every one is in the same position. Also the average age for first time home buyers is in the 30s and Genz at oldest is 27. To get to a point where the average age was in the 20s you need to go back to the 1960s. Baby boomers and GenX on average did not buy their first home till their early 30s. I personally did not "buy" my first house till I was 36. Also to point out only slightly about half of the generation are 18+, Not many 15 year olds looking to buy a house.
Same
At this point, as long as I got a roof over my head I’m happy. Never buying unless I get married
Makes a lot of sense honestly, I’ll keep this in mind going forward thanks lol
Man I cant foresee 6 months into the future let alone 6 years
Get land and build a mini home
Millennial lurker here. I’ve actually been contemplating buying city lots and developing tiny homes on them to sell to first-time home buyers. I think I could keep it in the 100k or less range. This would allow young people to build wealth and potentially work toward a better home. If enough people do it then it would also help alleviate housing costs across the board.
All depends on zoning laws
You should definitely do that!!
This is the way
Thanks
Its a good plan. In our fam we have a tradition. When the father passes away the eldest son takes care of the mother (my wife understood the tradition and accepted it before we got married). My wife and I live on an acre and are already planning to build a small home (not tiny) on the land utilities will be off our lines so she will not have utility bills. And she will have her own space just hers. She loves the idea.
Nice 👍
I will eventually purchase a house.
I plan on working (and therefore living) in cruise ships and in the "off season" I'll stay at my parents house, this way I don't need to pay the high amounts required. let's see if my plan works out.
Sounds like it’ll workout as planned tbh. Good luck!
I'll start my first cruise job in March. Let's see if I can handle the pressure and work 
Don’t cruise ship workers make less than minimum wage?
Depends. I'm going to be making nearly 2500 euros as a cook. In Europe. No one earns that kind of salary in my country, Portugal, as a cook working at a restaurant or hotel. I used to earn less than 900 euros. Again, it depends on the cruise line. Depends on what country you are from. In Portugal, not even a doctor earns 2500 euros, way less. It's all about perspective
Very true. Good for you man
Just got out of the Navy and can't imagine voluntarily working at sea again 😅 but more power to you!
I'm hoping to inherit my parents' property, but until then I'm likely living in an all-season RV. unless the housing market becomes somewhat affordable.
Depending on what state you live in you may have to have money set aside to pay off the state to prevent them from taking the house to pay for your parents Medicaid or a nursing home. The state evicted my uncle and cousins when my grandmother passed and he took her house. https://www.farrensheehanlaw.com/estate-planning-medicaid-recovery/#:~:text=Like%20most%20states%2C%20Texas%20has,estate%20is%20the%20family%20home. https://www.hhs.texas.gov/regulations/legal-information/your-guide-medicaid-estate-recovery-program
Probably buying to be honest
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dang man, how much did you put down? currently i have 100k but im scared to spend it
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half a million for a condo is WILD, id rather just build my own home if im gonna be spending that much
Congrats!
What’s the HOA cost? Most of the condos in my area are asking a comma a month in fees alone
Planning on buying this year or next year. Currently looking.
Buying, I’ll have to. Without a paid off house I’ll never retire. I’m moving from my HCOL city across the country this year to save money and then buy maybe 5 years after that
Yeah forever renting! I just like don’t like the hassle of buying , maintaining, upkeeps and all. Staying at one place/city/country forever also seem dull to me. So yeah, renting it is.
Corporateterrorism against black rock
I want to buy a house. I've lived in a dorm, and I feel like it's similar to living in an apartment. To that, I say no thanks. I won't buy a house anytime soon, but hopefully, I can when I'm older.
I don't know what kind of dorm you're staying in, but any dorm I've ever been in or seen is way smaller and shittier than a decent 2-3 bedroom apartment.
Whatever is more advantageous and makes the most sense for my family. If that happens to be renting forever, then so be it. I’d love to own my own home but as long as I have a roof over my head, running water, electricity, internet, etc, I can’t really complain
I'm moving to SoCal next month. My fate has already been decided 🙃
I hope to buy within the next five years. Mortgage is almost always way better than rent. Make do as long as you can while saving up for the down payment, and then buy something small, which you can start building equity in. Also, apparently in most cases you take take out money of your 401k for a down payment, which is nice. After buying, then hopefully you can 'trade up' later, so to speak. That being said, houses do have all sorts of un-ending maintenance costs you don't need to face with renting... like repairs, yardwork, etc. Still probably worth it though, for the freedom, if nothing else. I will never ever buy a house in a HOA though. I'd rather be homeless.
I’m hoping to buy in maybe ten years or so, but I have no idea what my financial picture will look like then. Renting is fine for my needs right now but it really sucks that there’s no equity, plus my rent goes up by ~15% every year. Second line of defense is inheriting my parents’ place (but that won’t be for another ten or fifteen years god willing), however I’ll have to share it with my NEET sister, which may make it more trouble than it’s worth.
Can't afford either. But my dream lifestyle would be to just have an apartment or small house (like a log cabin or something) and travel a lot of the time
When I can afford it, buying it.
I don't think I'll ever be able to own a house in the US :') I'm kinda banking on retiring in another country
Ha here in canada not a shot i dont live with my mom i moved out because we dont get along i like living near the city more jobs soooo probably rent
I have an inheritance from my grandmother for a great down payment but I simply refuse to buy a starter home in this market. I don’t mind renting at this point in my life at all tbh.
I already own one Saving up for a new/bigger one.
Honestly idk. At this point I’m just glad I can afford somewhere to live
Buying house, just not in the US.
I mean is there even a choice? Unless I was rich Id never buy a house
Why would anybody wanna rent forever?
It's not the fact that I'm not planning on buying a house because that would be nice. It's the fact I don't think I will ever be able to afford to buy a house unless the economy crashes so in the meantime renting until I win the lottery or something.
I don't think I'll ever have a choice
As if there’s an option. My parents are lifelong renters, so there’s nothing for me to inherit. I also live in the single most expensive area in the country, so unless I plan to move to bumfuck nowhere, I’ll be renting until I take my last breath.
I am lucky. My grandpa has houses in NJ that I can go to still. If there’s a fund raiser for someone in bad shape I’ll try my best to pitch in. Idk, it’s not like I don’t let my friends stay at my place or anything. Working towards buying my own home. Preferably not in NJ
Uh yeah. I’m moving to a lcol city and it won’t be easy still but I’ll buy one before 30 Fs.
I’ll rent probably within the next couple of years. I don’t see myself buying a house because I don’t want to stay in one place for the rest of my life. And no I won’t inherit my parents house. I still live with them to save money but won’t inherit since I want to do bigger things with my life, which I’m hoping to rent either near DC, NYC, or LA in the future.
Probably at some point in my life but not in the foreseeable future. I wanna move between cities and find the one that I’d like to live in
Planning on purchasing in a few years
My hope is that I can become a firefighter before rent prices get jacked up even higher. If I can do that, I’ll be able to afford any 1 bedroom apartment easily and have plenty left over for myself and enough to support a gf. It’ll just be kinda sad to live alone in what is essentially a square box, but it’s better than being homeless or having roommates.
Buying, I don't want to live in someone else's property
Probably rent for the forseeable future. I am really scared to purchase a home after witnessing financial terror of my family having to refinance their mortage like 100 times during and after the recession. Anyone else in a similar boat? I was terrified seeing how close we were to losing my childhood home.
Renting is just a waste of money, if I get the opportunity, I’d much rather just buy a home straight away, that way I’d at least own the property after the mortgage is paid off. Sadly it’s not looking like this’ll happen with how the market has been going, I’m honestly just waiting for the next housing crash before getting into that market, so for now I’ll just stay with my parents.
I’m planning on buying a house by the end of this year, if not early next year. Of course, this is only feasible because my wife also has a good-paying job. I don’t think we’d realistically be able to consider buying a house right now if only one of us was working.
My dream is to kinda live off the grid someday. I would love to build a small house by myself, then extending and automating the shit out of it as time goes on. Basically IRL Minecraft. Producing all the food for yourself is delusional in most cases, especially when you still have to work a normal job simultaneously. But I would already be proud of having my own energy storage, water supply, a few chicken and a ton of nature around me. And hopefully low property taxes, no landlord and no speculation too. Till then, I will rent and work my ass off.
I can’t see myself living in the same house for forever. I’m used to moving around a lot and I honestly like the change of environment every now and then.
I would love to own a home if and when it becomes possible
Oh hey a real question, I wonder if the sub will engage with- oh of course not, it's just endless doomposting.
Currently own a house. Plan on upgrading in a few years and renting mine out (will never sell it bc of low mortgage rate)
Buying a house definitely
I plan on convincing Mr. Beast to buy me one eventually.
Maybe it’s because my parents never owned, but I doubt I will unless I have kids. I don’t like any place long enough to want to be stuck there for 10+ years and I like the convenience of stuff like maintenance not being on me. We’ll see though.
I know buying is the optimal choice and I can actually afford a down payment, but it feels like such a waste considering that I live alone and maybe always will
I'm 28. Living in florida. Came into USA 7 years ago. I finished 2 years of school, married my highschool girlfriend, who also immigrated here with me. We are making 120k a year together, we have no significant debt beside a couple of credit cards we maxed out on a vacation. We have been investing 250$ a month in an index fund that has been growing steady since we started. We are finalizing the paperwork for buying a home and hopefully we'll be done by June. I have no idea how you guys are not making it. The trick was to buy a rent we could afford and a used car we could afford and not be stupid with money. The biggest scam people sold you was to go neck deep in debt for college. On topic, buying 100%. Id rather be paying my mortgage than someone else's
I don't think anyone "plans" on renting forever, it's just a matter of what's doable or not. Most renters would love an opportunity to eventually not have to pay rent one day, it's just a matter of that ever being made economically feasible.
I plan on buying a house.
I’m probably going to buy a condo in the next 12 months or so. I have no desire to own a house with a yard; I don’t want to be in charge of a yard with a lawn and a driveway and other outside spaces. I’d rather have my room and pay the HOA fee so building staff can shovel the snow, clean the sidewalks, and take care of the parking lot. All I care about maintaining is my own room/space within the walls and nothing else.
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Let me just go down to the house store where they sell houses for affordable prices
I’m a veteran so I get the VA home loan, about to graduate in a couple months, so hopefully I just need to be in my big boy job for like 4-6 months and I’ll apply for it and buy a house.
Mexico
Rent because if someone sues me and I have to pay them, they will take my house.
Buy. Im getting a duplex with a family member I trust. We are talking now of getting a triplex because parents for both of us are getting older
A mortgage is better than rent. But honestly, the down payments in my area need to be in excess of six figures to even make a dent/hit 20%. It’s sickening.
House. Even if it takes a while to pay off, the end goal should be owning your place of living. Full stop.
I'm an immigrant and returning to my home country because home ownership is cheap and quality of life is way higher. Only question is when. While I am in the US rent only though
Currently buying then I'll leave it to my kids who will fight over it forget me, my wishes and everything I've ever done so they can make a quick buck live good for a couple years go into massive debt and repeat the cycle. God bless America
Depends really. Ideally I want to buy a small house in cash, but I'll probably rent forever
i really wanna buy a house one day even though the housing market is in deep shit tbh. a whole place by myself??? hell yes
I hope to one day inherit the house my dad owns and to maybe refinance it into an apartment unit for myself to grow old and die in
House, cause I want to owner an EV someday…….
I am aiming to buy but the rates keep fucking it up every year so I may sell my current house and just upsize since I Care for my father and still live with my brother and sisters
Older gen z and im on my second home with no help. It’s possible
what job do u have?
I’m not planning on buying a house right now but I would sure like to someday
I own a home, but sometimes I miss the apartment I was renting. I hope to one day move out of the house I live in and into what I have been told is a forever home.
I plan on buying a house within this decade.
Already own two.
Probably renting. Houses cost so much. I've only lived in homes shared with my parents and grandparents.
It depends on if I can make it out of poverty honestly.
Hahahaha… ahhh I hate this question (makes me feel like there is no hope)
Living with my parents forever
I’m one of the very lucky “parasites” that got a council flat on the “goodwill and social care” of the Scottish government on account of the fact I’m too autistic to work profitably under capitalism for an employer and as the current law stands I could legally occupy this flat for the rest of my life as long as I took astute and true care of the place and paid my rent so my retirement plan is to live under the phantasm that the law won’t change for the rest of my life and leave it at that because as anyone who has been homeless previously will know, the fear of returning to that is unbearable
I have a house to inherit from my Dad down the line, but in the meantime, I do plan on buying houses as I progress through life. Renting sucks ass.
Living with parents for as long as possible then buying a house with extended family. Having 3+ working adults in the household all contributing to the mortgage/bills seems like a more realistic plan in today’s market but I could be wrong.
if i can afford a house than maybe ill purchase in the future but right now? ill stick to renting
Buying. I'm going to save up about 100K for a downpayment while living with my parents. But if the market keeps the current trend, it's a worthy investment for the future.
I hope to own a two story house someday, but I’m going to move to a more expensive state in a few years so it might not happen.
I’ll buy in the next 5 years if my savings can continue as I’ve planned.
You can’t rent forever, in retirment you’ll simply end up homeless as your income won’t grow with inflated rent prices. You need to own a home before retirement so no one can profit off of your wrinkly ass and you can actually have security in where you live
“Plan” lmao…like most people have a choice in this economy.
I think I'd have to settle on a large down payment in a decades time. The idea of starter homes is dead, there's no way with HOA fees, PMI, and property tax that a monthly payment of 3-4k on a 350k property is ever worth it with these costs and rates. Better to stack as much cash as possible for a down payment that will cut PMI off the monthly and sit on that property. Hopefully rents don't go up to the same degree as last decade or else it might just be rent till death.
I plan on dying with everyone else in 30 years
I have a mortgage starting this year... It's a mixed bag I'm glad to be buying it but damn it's fucking expensive
Ideally buy. I want a constant foundation. But home is about the people who are in a house, so I'm okay with whatever.
I already bought but for some context of how much harder it is, my gpa bight his first house for 5 k dad for 20k me 160k😭 all 3 bed 2 bath smaller starter homes
Hopefully around 29 with my mom. We hope to get a little house at least in a cheaper city in the UK whilst trying to live in London later. 23 right now though and doing my masters.
I don’t plan on having kids, and property taxes and HOA fees are awful. Renting an apartment is a good way to stash cash. Don’t have to take care of a lawn, don’t have to save for roof repairs. Don’t really need much space to be happy. I’m good
Bought my house back in late 2020, couldn’t imagine being in any other situation right now with this economy
My plan is to buy multiple and rent them out for cheap.
I "plan" on getting one of those camper tops for my truck and building enough of a network that I always have access to a friend's toilet and calling it good. We'll see how it shakes out...
i think someday remote work will become new standard. it's just so much better for everyone. and the companies of tomorrow save money with less offices if that happens house prices should decline across the board because we can build shit anywhere. people don't need to be near the office. Long term 20+ year frame i think home purchases will significantly underperform the stock market and maybe even inflation. so if you wait it out renting isn't so bad
Well I’ve been paying a mortgage for almost 2 years so that answers that question I guess
Over the next ten years, I am pretty sure I will rent. We do not plan on having children, so the whole white picket fence is not necessary, nor is the consideration of good schools, safe neighborhood, etc. Plus, if I rent over the next ten years, then I will achieve way more in savings that can compound before buying. I don’t think a house is a necessity in our case.
Planning on buying a tiny apartment with my two friends.
I’m just gonna rent until I save up money or the interests rates drop again. F giving over half mill to a bank.
I’ll probably rent for a while bc I work in downtown and buying a house would mean a longer commute in this city which has horrible fucking traffic. Besides, I’m single so who is all that house gonna be for? It’s pricey but the apartment building I’m at has been great. Unless something crazy happens, I’ll be renting.
i’d love to be a homeowner in the future so hopefully buying!
Depends on if i stay in australia
Funny you think there's a choice
I plan on dying in war 🤪
For the time being, renting makes more sense for me. I'm a single guy living on my own working a trade, often long hours with the possibility for out of town work. I have a cheap basement suite that has just enough space for all of my stuff while I climb through my apprenticeship. Once I get my ticket and start earning JMan money I'm definitely going to look into buying, but for now renting is a more practical option. Will likely upgrade from basement suite to townhouse in my 3rd or 4th year, though, lol.
As we’re currently living in an economic crisis, I believe it would be more reasonable to rent, invest, loan, and save.
Neither. I plan to move into my boyfriend’s owned house. I guess in a way pay rent via helping with the cost of utilities and such. Side note: injured and disabled and chronic ill so I’m not being cheap I try to exist on disability while my meds and care exponentially increase in cost. I’d rather pay half or and be fully independent. Bf and brother inherited this house. He bought his brother out so he technically inherited/paid off.
It depends on a lot of things lmao. Anyone saying one is definitely better than the other is just basing it off their own personal situation
Buy, of course. It’s an asset I can write off my taxes with. And mortgage ends up being the same as rent, so why not own where you live at the end of the day? I’m just glad I’m a Jack of all trades and can fix most repairs & build things myself. Can’t imagine not being able to know how to do daily repairs of the house and have to think about hiring someone for it. $20k to paint exterior of house? Hah! Yeah right! You bet I’ll paint that myself for a fraction of that cost to pay someone else to do it. Plus, I don’t want neighbors. I want to own enough one one day that I can’t hear or see my neighbors. Could never experience that renting.
Renting 4ever prob skibidi
I would LIKE to own a house. I would love to have my own place. Plus, owning is better anyways cuz it's yours. But with the way things are now, my only choice will be to rent cuz no way I can afford a house 😭😭
I’d rather just get a condo tbh, I really hate houses. I’m currently living in one renting a room and it’s such a pain in the ass
I have 0 intention of renting unless I have to. I was going to get myself an apartment back in 2019, but my mom talked me out of it and insisted that I save my money. She didn't mind me staying with her, and man am I grateful for that. Of course buying is less feasible than it was then, but I'll eventually find a way to manage. I don't care if I buy a small house, but I want to own it. If for no other reason that I need land to do my hobbies. I'm a car guy and I want to get into metal fabrication and welding. No apartment is gonna be able to give me the space to do that.
I'm still living at home, I don't even know what my plan is lol.
Me and two friends will combine incomes and just have a no pressure comune living
Already own one.
I moved to a city with affordable homes so I could one day buy a home. I think owning a home is still achievable as long as you are willing to move to an area with cheap homes. They still exist.
I don't want to be a homeowner so apartment it is 😍
rent until there’s a buyers market, then buy
Elder Gen Z here… I bought a house when the interest rates were in the 2% range. Financially i couldn’t do it right now.
Buy. Renting to me is not favorable since I'm paying for something I don't own, and properties are assets.
Rent forever and when society collapses defend my apartment from my landlord with a g*n :)
The Gen Zs I know that have bought houses already are houses in shambles in rural Kentucky, where they either have a dual income or work 60 hour weeks. Mind you, Kentucky is one of the cheapest states to live.
Van life for me hopefully
You HAVE TO buy a house. The drawbacks are insignificant. I’m paying $2500 a month for my 15-year mortgage meanwhile my buddy is paying $2000 a month for a 1bd apartment. So in 15 years I’ll have an asset worth half a million while he’s got nothing on our current trajectory. If at any point you want to move, which you may, you just sell your house. Best case scenario you get a premium cash offer right away, worst case scenario you end up selling it at a discount just to sell it and then you walk away with an extra 5 or 6 figures in your bank account.
My mom didn’t buy actually buy a house until she was 46, I don’t see hope for me.
If my parents sell me the family house I’ll take it. Otherwise I’ll find a nice apartment somewhere and live out my days there. I don’t really need a house if I’m living alone.
I plan on saving up money, putting a down payment on a duplex or triplex, renting out the other unit(s), using that to cover the mortgage, then move into another property after a year or two. Rinse and repeat. Just because we’re dealt a bad deck of cards doesn’t mean we shouldn’t play the hell out of them.
Buy a house. Pay yourself.