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

[BrothaZay]

Nope, that's what sub-divisions are for and living in an upscale neighborhood. But regardless of where you buy your home, you need to assess the potential value you can bring to it. Best plan is buy a nice fixer-upper, but not a run down shack.

How many 20 year olds can afford to buy a house in an upscale neighborhood?

 

[ottorocket]

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.

 

[Solano707]

How many 20 year olds can afford to buy a house in an upscale neighborhood?

Ask a 21 year old military vet, they're everywhere. Serve like 2 years (i think it's two), and you can use your VA home loan that's guaranteed, no money down. I think the max you can loan on VA loan is 475k, i may be wrong though.

My first loan is a VA loan

Second loan is conventional. You can also get an FHA loan as well, you only have to put down like 5 or 10%, which is not alot at all depending where you live.

 

[Diondon]

I only deal in sweat equity

So you would need to own property first

 

[BrothaZay]

Ask a 21 year old military vet, they're everywhere. Serve like 2 years (i think it's two), and you can use your VA home loan that's guaranteed, no money down. I think the max you can loan on VA loan is 475k, i may be wrong though.

My first loan is a VA loan

Second loan is conventional. You can also get an FHA loan as well, you only have to put down like 5 or 10%, which is not alot at all depending where you live.

everywhere?

I forget this is thecoli...

 

[scarlxrd]

If you can afford it, why not?
What does paying rent amount to at the end of the day?
You don't own shyt

 

[Apollo Creed]

yeah, I'll remember that when I go home for lunch breh

I bought my house at 25 and I`m working from the house in my drawls as I post this response and I`m not even going to be 30 yrs old yet for a few years.


Like I said brehs, do what makes sense for your situation. This Military American Dream cat going to have y'all all types of messed up in the game.

 

[Solano707]

I bought my house at 25 and I`m working from the house in my drawls as I post this response and I`m not even going to be 30 yrs old yet for a few years.


Like I said brehs, do what makes sense for your situation. This Military American Dream cat going to have y'all all types of messed up in the game.

military ain't for everyone breh

 

[BaldingSoHard]

avg person aint owning their house at the end of the day.

If you are black and trying to play the "my house is an investment" game you will lose every time. If something is not generating income then it is not an investment imo. Buying property to sell/rent/use commercial is a different game than buying a house that is your primary residence.

Yes. Because everyone knows black people's homes appreciate differently than white people's homes.

Spend too much time on the coli, brehs.

 

[Apollo Creed]

Yes. Because everyone knows black people's homes appreciate differently than white people's homes.

Spend too much time on the coli, brehs.

The nation’s housing recovery is leaving blacks behind

They do.

Be an idiot brehs and ignore American History.

 

[WaveCapsByOscorp™]

well, it doesn't have to be a bad decision unless you fukk something up along the way. It if all goes according to some plan, it's a great decision.

 

[BaldingSoHard]

The nation’s housing recovery is leaving blacks behind

They do.

Be an idiot brehs and ignore American History.

shyt! I was just about to sell my house for $125k profit.

It's a good thing you posted this article, breh I was about to lose bigtime.

 

[Apollo Creed]

military ain't for everyone breh

It aint, which is why I have enough sense to tell people only do something if it makes sense to their situation. You out here talking VA loans and buying two homes in different states for a total of 500k when OP is asking about 20 yr olds buying or renting a primary place of residence.

You completely ignoring all logic to turn this into another Coli Brag thread.

 

[Apollo Creed]

shyt! I was just about to sell my house for $125k profit.

It's a good thing you posted this article, breh I was about to lose bigtime.

Coli.com y'all

 

[BaldingSoHard]

Coli.com y'all

I know, right?