Buying is always better than renting. Even if it does lose value, you still get something back and it improves your purchasing power.
Is buying a house in your 20s really a smart idea?
- Thread starter BrothaZay
- Start date
How? Your property value doesn't even have anything to do with you, and everything to do with your surroundings.
You could keep the nicest houses in the world, if they open up section 8 homes on ya street, ya shyt go down regardless.
Don't listen to this guy
I own two right now
Home in washington state, (currently renting out), I bought at $245K, I owe $228K and it is worth $305k
Second home, in Georgia, I own (which i'm living in now), I bought at $245K, I owe $220k and it is worth $275k
I can quickly off load one if I need the bread quick, or refi and get pull out cash. These things you never want to do, but if you have to, it's always there.
so you have 2 homes you live in
how many 20 yr olds can afford to buy 2 250k homes in two different states TO LIVE IN and what is the purpose?
be an idiot breh.The convo is not about renting out properties.
You're paying interest, not rent. You don't know what you are talking about.
I cashed in on the real-estate housing bubble in the 2000s.
I lived in the property for more than three years so I didn't have to pay tax on it. Of course, i ended up buying another home at the peak of the housing bubble in the 2000s so now, my current property is valued at less than what I paid for it. 
But, the amount I pay in monthly mortgage is much less than what i would be paying for in rent. Probably less than half.
Of course you have to pay annual property tax even after you pay off the house. If you look at the amount of money that goes in escrow to pay home insurance and property tax, that is small compared to your annual mortgage expenses. So if you are done paying your mortgage, your monthly expenses drop by a huge amount.
Diondon
Thanks to the lawyers uh, I marbled the foyer
Are you familiar with the concept of equity?
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.
so you have 2 homes you live in
how many 20 yr olds can afford to buy 2 250k homes in two different states TO LIVE IN and what is the purpose?
The convo is not about renting out properties.
The purpose is build wealth.
I did it joining the military. Tell you, there is so many brehs in the service eating just like myself. But people don't want to listen.
What 20 yr old can afford to live in an upscale Neighborhood? Especially a Generation literally underwater in Student Loan Debt.
lol y'all keep taking advice from these
cats if you want. They giving advice from the perspective of a generation who had a very different situation than the avg 20 yr old of today.
I only deal in sweat equity
"build wealth"
Keep chasing the "American Dream" brehs
The nation’s housing recovery is leaving blacks behind
I have no intention of ever buying a house. I'm going the condo or co-op route.
so you have 2 homes you live in
how many 20 yr olds can afford to buy 2 250k homes in two different states TO LIVE IN and what is the purpose?
The convo is not about renting out properties.
yeah, I'll remember that when I go home for lunch breh
Condo's are nice too, easy to rent out and if your a bachelor
very low maintenance.Wow this baller goes home for lunch $$$$$$$yeah, I'll remember that when I go home for lunch breh
Condo's are nice too, easy to rent out and if your a bachelor
Exactly I'm a "city guy" born & raised. I'm not getting out there to cut grass, and shovel snow
