Is buying a house in your 20s really a smart idea?

[Field Marshall Bradley]

at skipping rent. Cats just saying any damn thing to justify their side.

In cases where the landlord skimps on their obligations, you have to continue to pay rent, but you can put it in an escrow acct where the landlord can't access it until they make satisfactory repairs. After the escrow company has determined that repairs were made, they release the funds to the landlord.

Spoiler

"You can just skip rent!!"

Spoiler

Man I love the coli sometimes.

Man... Where do you stay that has you saying shyt like the bolded

 

[wickedsm]

Houses are so cheap in TX that its ridiculous not to buy. My rent is higher than the mortgage for some 3bdrm houses in a decent neighborhood there.

weve had this discussion on here before. what we pay in mortgage for over 3000 sq. 4/5 bedrooms 1/2 acre lot beautiful neighborhood , culdesac, hoa private park and community pool is less than what most of yall in other parts of the country pay for 1 bedroom rent. its less than what i paid for rent in ct almost 20 years ago after my divorce for a 2 bedroom.

 

[BaldingSoHard]

Man... Where do you stay that has you saying shyt like the bolded

Reality.

 

[Field Marshall Bradley]

Reality.

Not for most.....

 

[BaldingSoHard]

Not for most.....

You ever been a landlord?

"You can just skip rent." sounds like the wishful thinking of a child. No offense, but going into court and telling the judge that you unilaterally decided to skip rent would be laughable.

 

[Field Marshall Bradley]

You ever been a landlord?

"You can just skip rent." sounds like the wishful thinking of a child. No offense, but going into court and telling the judge that you unilaterally decided to skip rent would be laughable.

I've been renting out houses in my hood since I was 23... I'm on the other side of 35 now.... and @ the bolded....

 

[BaldingSoHard]

I've been renting out houses in my hood since I was 23... I'm on the other side of 35 now.... and @ the bolded....

Well I guess when facts aren't on your side, a little "dead at the bolded" is the best you can do.

 

[Field Marshall Bradley]

Well I guess when facts aren't on your side, a little "dead at the bolded" is the best you can do.

Its nothing to dispute.... You up and said that someone just can't stop paying their rent when people do it all the time, just like they stop paying there mortgage, car note, or etc...

Again, that's why I asked where you live... Maybe you deal with strictly well off clients/renters.... and if that is the case, your situation isn't applicable to the majority... not even close......

and why waste a rack or two going to court to sue for back rent and win the judgement easily, just to not even sniff the money..... a lot of cats are judgment proof when it comes to that......

 

[Mr Hate Coffee]

I bought a house when I was 26 in a nice neighborhood. They rezoned the schools a year later and my property value started going down. Then, mad folks started bouncing.

I sold it 2 years later cuz I had to move and lost $20k on that shyt. And. I think I got out early. I feel like the whole experience was overrated.

Buying a house is a crapshoot. Some people win, others lose bad.

 

[BaldingSoHard]

Its nothing to dispute.... You up and said that someone just can't stop paying their rent when people do it all the time, just like they stop paying there mortgage, car note, or etc...

Again, that's why I asked where you live... Maybe you deal with strictly well off clients/renters.... and if that is the case, your situation isn't applicable to the majority... not even close......

and why waste a rack or two going to court to sue for back rent and win the judgement easily, just to not even sniff the money..... a lot of cats are judgment proof when it comes to that......

We're talking about two different things.

I understood "skipping rent" to mean "I'm not paying this month but I still plan to be living here in 3 months".

Of course you can just up and walk away.

 

[Tupac in a Business Suit]

I think the person who says that blacks should forgo purchasing a home as an investment is somewhat correct.

First, if you are considering the purchase as an equitable investment in a majority black neighborhood outside of a major city in America you are sadly being misguided. Taken into effect the long term prospect of appreciation vs the amount of capital you will have to commit to a home for 400k as a fixer-upper in New York City for example, you would have to sell for at the very least 1.5 million dollars in the future once your loan matures.

That very same capital could be used to not only start businesses as another poster mentioned earlier but, employ the very people in your communities who may eventually become entrepreneurs themselves. The equity that a business would provide far exceeds that of a single family non-rental residential unit. Of course, to purchase a multi-family residential unit in any major city will far exceed 400k, therefore, it would be in the best interest for those to become business owners rather than homeowners to receive an equitable return on investment.

 

[Yagirlcheatinonus]

If you buy your house in your 20s you can have it paid off enjoy your retirement and pass the property on to your kids when you die.

Look at it like this if you die and the house isn't paid for you'll pass the debt on to your kids. Would you want to pass on the land or the debt?

 

[Freedman]

You prolly better off buying land and stacking money paying low rent low utilities somewhere

 

[Kuwka_Atcha_Ratcha]

People all the time my age talk about I really want a house not an apartment.

But a while bacc ago my mom broke down to my how shyt really works, and how easy it is for ya house to lose value, especially if you live in a city like Dallas where the demographics can change drastically in a few years depending on the area you live in

I dont think that shyt is all its cracked up to be

bought my first house when I was 20, nearly paid off, worked out great for me

 

[dontreadthis]

a lot of information being kicked out in here, this thread got me in here like

.