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“Homeownership” is retarded unless you want to stay in house forever
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Date: April 29th, 2024 7:27 PM Author: Opaque Heady Love Of Her Life Just do pay shit loads of interest for 7 years, sell and then do it again at another house lmao (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619708) |
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Date: April 29th, 2024 7:28 PM Author: spruce persian youre building equity bro (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619712) |
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Date: April 29th, 2024 7:29 PM Author: Opaque Heady Love Of Her Life First 7 years are massively weighted towards interest payments. You build almost no equity unless house price only go up forever (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619714) |
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Date: April 29th, 2024 7:38 PM Author: Hairraiser alpha House prices do and will go up forever. Borrowing to buy a house is the single best thing most people can do to build wealth. Buy as much as you can, always. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619742) |
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Date: April 29th, 2024 7:59 PM Author: Supple Ungodly Garrison Pervert This is laughably wrong. House prices generally track inflation. Plenty of years where the house is flat and inflation is 2%. Homes are just sinks for taxes, insurance, maintenance, HOAs, worthless utilities, never ending bullshit, break ins, squatters, noisy neighbors, nosy neighbors, illegal neighbors. It’s just a neverending river of shit these single family homes. |
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Date: April 29th, 2024 8:02 PM Author: Hairraiser alpha Home prices double every 5-7 years (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619825) |
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Date: April 29th, 2024 8:07 PM Author: Supple Ungodly Garrison Pervert I have a friend who bought his house in 1992 for $250,000. Today he could sell for $1,000,000. BUT, the entire house has been gutted to the studs and completely redone at a cost of like $300k. Plus all the other crap they put into it. Conservatively, they have like $700k in it. So their appreciation after 32 years works out to less than $10k per year, and it’s a lot less after you factor for inflation and opportunity cost. Houses don’t appreciate. They just cost you a fortune. They literally empty your pockets. |
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Date: April 29th, 2024 8:09 PM Author: Hairraiser alpha Wrong. How could a gut renovation be less than half of the amount invested in the house after purchase? Obviously couldn't. How would you even know any of this? Do better with your shitty flame (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619842) |
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Date: April 29th, 2024 8:15 PM Author: Supple Ungodly Garrison Pervert 32 years is a long time. He told me they spent over $150k on an addition. Gut Reno came later at a cost of $300k. That’s $450k for the two big Renos plus $250k purchase which sums to $700k basis (and I think they did things like sprinklers, various upgrades, new Siding, new driveway, new windows, landscaping too). $1m - $700k = $300k After accounting for inflation it’s probably less than $200k. Over 32 years. It’s completely trivial appreciation. |
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Date: April 29th, 2024 8:10 PM Author: arousing metal karate athletic conference I own 3 properties. I wasn't a retard so I bought ones that didn't require any work.
Between all three, I've spent maybe $10k total over ~10+ years, at most. Just replaced some carpets, snaked a few drains, and replaces a few appliances.
You may not know this, but you're allowed to inspect a property before you buy it.
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Date: April 29th, 2024 8:11 PM Author: Supple Ungodly Garrison Pervert I find this impossible to believe. Every house is a nightmare and a ticking time bomb. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619850) |
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Date: April 29th, 2024 8:13 PM Author: arousing metal karate athletic conference I'm being pretty misleading. They're all apartments in a Tier 1 city. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619857) |
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Date: April 29th, 2024 9:17 PM Author: confused public bath Here is where you can be very wrong. My wife and I bought a place in 2018 for $498k at 3.5% interest. We put $200k down. We still owe $255000 on the mortgage, but we put the house on the market this weekend (it listed Thursday) for $975,000 and we got over 25 offers with the highest being $1,050,000.
After commissions, costs and paying off the mortgage, we will walk with $753,000. Which means, we profited $553,000 in less than 5.5 years: $100,000 a year. We're moving to SC and our newly built home is coming in right at $722,000. So, we'll have no mortgage. Now, obviously this isn't going to happen for everyone, but it did just happen for us. And that's why you buy houses. |
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Date: April 29th, 2024 9:49 PM Author: Silver Spot (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47620140) |
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Date: April 29th, 2024 10:26 PM Author: Appetizing Stag Film sweet (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47620229) |
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Date: April 30th, 2024 5:16 PM Author: confused public bath I think you meant SWeet (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47622398) |
Date: April 29th, 2024 7:30 PM Author: arousing metal karate athletic conference I rent out three of my former primary residences. Extremely good financial move (in my case at least). (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619715) |
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Date: April 29th, 2024 7:34 PM Author: Supple Ungodly Garrison Pervert Owning real property and participating in the game of Amerikkka is flat out highway robbery. Taxes + Interest + HOA + Insurance + cost of upkeep on my house is about $45k Insurance on the cars is now up to $3k (and I ostensibly own them) + another $1k in various fees for maintenance, registration, inspection That’s $4,000 gone each month just for the right to “own” property in America Utilities + food + transport costs like fuel, etc doesn’t come close to $4k Childcare comes close If I sold everything and just moved to Asia I could live on so much less |
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Date: April 29th, 2024 7:35 PM Author: arousing metal karate athletic conference What you're supposed to do is model all of these expenses in advance and only purchase a home you can comfortably afford. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619738) |
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Date: April 29th, 2024 7:39 PM Author: Supple Ungodly Garrison Pervert I can kind of pay my bills Insurance is a complete runaway freight train right now. 4 years ago insurance for 2 cars was like $1200/yr. Maybe as little as $1,000. Now 3x. My first homeowners policy was like $1800, now $6000. |
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Date: April 29th, 2024 7:36 PM Author: arousing metal karate athletic conference I have you beat on childcare. I'm at over $100k / year. (100% cannot afford it -- unlike my house) (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619740) |
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Date: April 29th, 2024 7:42 PM Author: Multi-colored Market It's true, you should never sellcuck. If you need a bigger house, just remodel the old one, or keep it and rent it out. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619752) |
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Date: April 29th, 2024 7:44 PM Author: Fragrant citrine parlour shitlib I’ve come to accept that there is no rational option in the US, everything is set up to ensure your Ruin, especially if you are a Loser. I wish I was born in France and could just live on the dole and waste away at some cafe. That would be 1000% better than trying to “maek it” in the US just so you don’t have to live in a neighborhood where you’ll be raped and killed by URMs. The US is honestly the dumbest place in the world and a terrible mistake. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619761) |
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Date: April 29th, 2024 7:46 PM Author: adventurous swollen heaven national security agency (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619769) |
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Date: April 29th, 2024 7:46 PM Author: Passionate Free-loading Gay Wizard Just raise a family in an apartment complex full of government mandated low income residents bro
Just have your lease not get renewed at the top of the market so you are forced to move bro
Just have your rent go up 10%+ per year bro
Just never be allowed to have pets bro
Just be forced to live with the shittiest appliances in existence and never able to renovate or change anything forever bro |
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Date: April 29th, 2024 8:01 PM Author: blue pea-brained locale old irish cottage this. homeownership is retarded, but not as retarded as renting forever. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619822) |
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Date: April 29th, 2024 8:26 PM Author: Awkward bespoke ape french chef (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619904) |
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Date: April 29th, 2024 8:07 PM Author: copper sick generalized bond here in Brussels, I can't wait to return to my homeland and buy a plat in rural PA and play my music as loud as I like without any neighbors around to complain (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619835) |
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Date: April 29th, 2024 8:12 PM Author: Supple Ungodly Garrison Pervert Ligonier Valley? (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619853) |
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Date: April 29th, 2024 8:14 PM Author: copper sick generalized bond yessir, 6 acres to build my falling water house near Linn Run State Park (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619864) |
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Date: April 29th, 2024 8:16 PM Author: Supple Ungodly Garrison Pervert Wow. 180. I’d like to live over there too. |
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Date: April 29th, 2024 8:18 PM Author: copper sick generalized bond let's make it happen- Frank Lloyd Wright inspired Americana (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619878) |
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Date: April 29th, 2024 8:19 PM Author: Supple Ungodly Garrison Pervert I’d just prefer a simple ranch style house with a basement and a wood burning stove and a flat spot outside for a garden. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619881) |
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Date: April 29th, 2024 8:20 PM Author: copper sick generalized bond ranch style house-- u should build in Arizona https://franklloydwright.org/taliesin-west/ |
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Date: April 29th, 2024 8:24 PM Author: Supple Ungodly Garrison Pervert I don’t want some artsy fartsy house. I want a house with a porch and a rocker and my shotgun by my side. Maybe a glass of iced tea. No dogs. No cats. Just me and the world. |
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Date: April 29th, 2024 8:25 PM Author: copper sick generalized bond if u can dream it, it can happen-- only in America (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619900) |
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Date: April 29th, 2024 8:28 PM Author: Supple Ungodly Garrison Pervert My dream is to just go back in time and be an offshore roughneck or whatever. Live in a van. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619912) |
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Date: April 29th, 2024 8:29 PM Author: copper sick generalized bond hey, Jack Kerouac (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619914) |
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Date: April 30th, 2024 3:13 PM Author: Electric cerise scourge upon the earth corn cake your dream is for your children to never have been born? you seem like a really really great guy. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47621931) |
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Date: April 29th, 2024 8:18 PM Author: soul-stirring cobalt office telephone Ok but will buying a house get me in house in the first place? Have sent out hundreds of apps (I’m a litigator) but no bites so far. Houses around here run about 1.5-2 million to start but it could be a good investment to finally get out of big law. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619879) |
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Date: April 29th, 2024 8:20 PM Author: Exhilarant Point if you bought a million dollar home 5 years ago it would be $1.5m today (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619886) |
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Date: April 29th, 2024 8:25 PM Author: Supple Ungodly Garrison Pervert Houses around here have crashed 20-30% in the last year. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619902) |
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Date: April 29th, 2024 9:04 PM Author: Bonkers site wow Houston, TX, must be a real shithole then (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619997) |
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Date: April 29th, 2024 8:47 PM Author: Canary electric furnace If you put 1 million in wingstop stock you’d have 4 million today (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619940) |
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Date: April 29th, 2024 8:33 PM Author: Fragrant citrine parlour shitlib I bought in very late 2021 at what was near peak of the market. 3.25% rate. I already have 100k in added “equity” according to estimates. If I didn’t buy this house I would still be renting in NYC for like 4000k per month. I don’t know if there was ever a good option for me. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47619919) |
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Date: April 29th, 2024 9:48 PM Author: clear hilarious wrinkle property People railing against home ownership are fucking idiots who:
(i) Are too dumb to ever account for the fact that a home is not just an investment, its consumption. So in your calculations, you have to back out what you would have paid for rent
(ii) Don't realize that a home is an amazing tool against inflation, which is why myself and many others have benefited BIGLY.
I put in about $50,000 on my house in 2019, I've saved about $70,000 in rent over those years vs my mortgage, and if I sold my house I'd net $320,000.
So all in I basically made like a 7,000% return in 5 years?
The math is obviously different with current prices and interest rates (renting vs buying is more attractive for sure), but there's still a lot of risk in renting... |
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Date: April 29th, 2024 9:52 PM Author: Opaque Heady Love Of Her Life (Prole who bought house with 50k down payment) (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47620155) |
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Date: April 29th, 2024 9:55 PM Author: clear hilarious wrinkle property Rates were 3% why put more down? (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47620160) |
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Date: April 29th, 2024 10:32 PM Author: Maniacal Cuckold Depressive The house isn't the problem. It's the wife who wants you to work super hard so she can pay other men to do little projects at your house in perpetuity. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47620250) |
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Date: April 30th, 2024 1:22 PM Author: Peach factory reset button pisswyrm Pro tip: in that case, you're the problem (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47621548) |
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Date: April 30th, 2024 1:45 PM Author: Maniacal Cuckold Depressive "we need to pay $8,000 to convert a small part of our unfinished basement into a costco pantry." (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47621654) |
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Date: April 30th, 2024 3:28 PM Author: Electric cerise scourge upon the earth corn cake I paid $6000 this week to have landscaping and plumbing work done. all of it except for taking out a tree I probably could have done myself if I had more time and energy and wasn't a retard. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47622009) |
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Date: April 29th, 2024 10:40 PM Author: Gay Round Eye Field These retards also don’t look at taxes. You get an exemption for $500K in capital gains, which equates to $1MM of earned income. You should move anytime you can do this obviously (subject to being able to purchase a decent home for an acceptable price). (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47620296) |
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Date: April 29th, 2024 10:55 PM Author: histrionic locus My interest rate is under 3%. Money for free. (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47620330) |
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Date: April 30th, 2024 10:42 AM Author: Beady-eyed Indian Lodge Nibblets "owning a house only makes sense if you want to live in that house" (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47621078) |
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Date: April 30th, 2024 1:23 PM Author: Peach factory reset button pisswyrm Absolutely devastating for housemos (http://www.autoadmit.com/thread.php?thread_id=5522879&forum_id=2Reputation#47621553) |