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

[Solano707]

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.

Obviously, you didn't read the second part with the conventional and fha loan.

the nikka asked about a 20 year old buying a home - he didn't say if it was military or not. I gave my 2 cents on how to do it. if you don't like it, then stfu. but if you insist on being a crying bytch and keep pulling the race card, then there really is no need for a discussion now is it?

 

[BlackBall]

Real life monopoly on the coli

 

[Apollo Creed]

Obviously, you didn't read the second part with the conventional and fha loan.

the nikka asked about a 20 year old buying a home - he didn't say if it was military or not. I gave my 2 cents on how to do it. if you don't like it, then stfu. but if you insist on being a crying bytch and keep pulling the race card, then there really is no need for a discussion now is it?

"pulling the race card"


I see what we are dealing with here

OP pay attention to who you get your advice from.

 

[Neuromancer]

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

Do you live in Cali?

 

[Field Marshall Bradley]

So if you sell your home at the same price you bought it for, then the principal that you paid down comes back to you. When you leave an apartment, there is zero equity. You get nothing back except your deposit.

Not if you stay in the house the entire duration of the mortgage..... you actually end up in the hole if you only get what you paid for it back

 

[BlackBall]

Not if you stay in the house the entire duration of the mortgage..... you actually end up in the hole if you only get what you paid for it back

This

 

[MJ Truth]

As long as you can afford it and sure that you'll be able to afford it in the future (meaning you plan on having stability) it's definitely a good idea. Ownership >>>>

 

[Apollo Creed]

Not if you stay in the house the entire duration of the mortgage..... you actually end up in the hole if you only get what you paid for it back

Cats talking ownership then in the same breath talking about how much they gonna get when they sell they house

On top of failing to tell OP you are pretty much only paying interest on the house during the first 10 or so years, so you still will owe the bank a grip when you sell assuming you dont have a ton of new equity (show me the avg 20 yr old that wasn't already rich who right now can afford to buy in a neighborhood that will see a 50-100k increase in equity in less than 10 yrs).

Like I said y'all keep taking advice from these bozos and end up screwed like your parents were in the 2000s.

 

[KplusK]

hell yeah bruh if you got it ownership is the best thing in the world
passing things down from generation to generation regardless of what it is is how its supposed to be specially as a black person

 

[BlackBall]

hell yeah bruh if you got it ownership is the best thing in the world
passing things down from generation to generation regardless of what it is is how its supposed to be specially as a black person

What u get passed down ?

 

[Zero]

Wow this baller goes home for lunch $$$$$$$

 

[unit321]

Not if you stay in the house the entire duration of the mortgage..... you actually end up in the hole if you only get what you paid for it back

That's true. Usually, after 20 to 30 years, your real estate has appreciated in value unless you bought a home near a nuclear meltdown site or Detroit.

 

[BrothaZay]

That's true. Usually, after 20 to 30 years, your real estate has appreciated in value unless you bought a home near a nuclear meltdown site or Detroit.

Wrong

 

[KplusK]

What u get passed down ?

my grandmother left me and my brother some land and a double wide down in south carolina that my pops is living in now and I'm planning buying a house or two to leave for my son and nieces and nephews and future generations that will always stay in my family and if any of them fall on hard times they will always have somewhere to live thats how my moms planned it also

 

[Kobes Two Jerseys]

Breh you paying rent to the bank then after you're done with that you got taxes to pay or you lose your shyt. It's a big scam fleecing nikkas

So better to just pay rent and own nothing at all? Why even buy a car? You finish paying it off and you still have to pay registration every year.