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

[Jahmal]

What's the payout after 30 years of renting?

I make 150K a year and will get salary increases every year of my life. I dont worry about rent payments breh.

 

[Rekkapryde]

If your payment is low yes it makes sense.

I have to spend 600k to buy a house you Texas nikkas call basic. I have the problem you think you have

Yeah man, yall Cali Brehs paying a half a milli for a traphouse is not what's hot in the streets.

 

[Mowgli]

Yeah man, yall Cali Brehs paying a half a milli for a traphouse is not what's hot in the streets.

I dont know what to do

Sitting on money and don't know what to do

 

[MF_BREW]

That a long term investment and if you miss a payment on it from water bills to mortgage they will jack that payment up. My folks right now are paying a 60k mortgage and they missed a water bill so now that gotta pay 700.00+ a month just to get it back down to 400.00+. Also you are looking at up keep of the house.

 

[Art Barr]

That a long term investment and if you miss a payment on it from water bills to mortgage they will jack that payment up. My folks right now are paying a 60k mortgage and they missed a water bill so now that gotta pay 700.00+ a month just to get it back down to 400.00+. Also you are looking at up keep of the house.

That is a nineties predatory lender style mortgage they fukked the future gen's with.
When everyone who had a will to work and would strive got hosed.

Art Barr

 

[MF_BREW]

That is a nineties predatory lender style mortgage they fukked the future gen's with.
When everyone who had a will to work and would strive got hosed.

Art Barr

shyt you know it!

 

[Art Barr]

shyt you know it!

That double penalty shyt was a prime indicator.
I wish y'all good luck,.....


Art Barr

 

[MF_BREW]

That double penalty shyt was a prime indicator.
I wish y'all good luck,.....


Art Barr

Yeah, We gonna make tho. Plus the fukked up thing is there are home for sale but they got that pay foward deals which means the previous people who lived in the house do have to pay but the new buyers ( be it family or stranger ) got to pay for they'res and the impervious bill. Glad my folks didnt get that.

 

[JBoy]

house buying is a really unpredictable practice that frequently means you need pretty damn good luck, the job situation for most folks in today's America is so unpredictable that I think I would hold clear on young folks buying for a while

 

[Solano707]

That is a nineties predatory lender style mortgage they fukked the future gen's with.
When everyone who had a will to work and would strive got hosed.

Art Barr

Yeah, they have laws in place to protect families from those types of loans now.

 

[Action Mike]

Got black people in here really against ownership and renting.unbelievable.

 

[No Homo]

My mentality is to own.

...Have people rent from me.

Imagine if we all did that.

That should be the end goal and is a big root to alot of our problems as a people.

Ill continue to let yall rent instead of own and then complain about gentrification and us as a people not having shyt

 

[beenz]

Yeah man, yall Cali Brehs paying a half a milli for a traphouse is not what's hot in the streets.

500K won't even get you that in SF. that's only in LA.

 

[beenz]

Only time youre really getting tax breaks is if you dont make any money or you pay a ton in property taxes/interest.

Dudes are ignoring this thread is about a 20 YR OLD.

People mention mortgage is less than rent yet have yet to talk about having to be 100% responsible for maintaining and repair of your home.

Yall can listen to these goofs if you want but like i said if you are just looking at rent vs mortgage cost you definately are not ready to buy a home. You HAVE to Examine YOUR situation and all these goofies talking about THEIR SITUATION as if it is the Standard yall are going to be set up to lose.

I enjoy being a home owner but I damn sure wont talk like its a simple task. My mortgage is less than what i have paid in rent in the past yet owning a home has been much more expensive.

A person in their 20s has to factor in unforseen cost, their career because at the end of the day you may get a better opportunity elsewhere and having to worry about selling your property or rent it out is another beast in itself.

Like i said, listen to these goofies of you want

this is why you treat a house like a car. you should be allocating money each month for repairs. and then when you need to do a repair, you have the funds already available. same thing you should do for car maintenance. allocate money for it monthly regardless if you need it or not.

 

[Weaver31]

Yes buying is better than renting but a lot of people get mortgages that they shouldn't be getting/can't afford.

So dayum true!!!

And people don't realize that a lot of these mortgages are designed for TWO INCOMES....please listen y'all bruhs and bruhettes with the traditional mindsets where y'all feel that men should pay for everything...a lot of these homes have mortgages that are designed for TWO INCOMES.

Then if a couple breaks up...problems arise and supposed if u have a problem selling the home. U up a shyts creek then.