It's crazy how "Home Ownership" is pushed so much in the media

[UpAndComing]

Like it's something automatic you do just to keep up with the Joneses. Like it's some right of passage that everyone on earth should partake in


The talk always starts with "Generational Wealth". But they are looking at the end result instead of the here and now. The problem is a lot of people rush to buy a home when they are not financially stable to do so, in an effort to appear like they "made it" to their friends and family

A home can financially handicap you if you are not ready. Having to pay for a mortgage that by the end of it you are paying 20% to 30% more for a home's value because most are too broke to pay more than the minimum payments. And let's not forget the unforseen big home repairs that would be needed over the years

And I say this as someone who sees the value of homeownership and wants to own a home in the future

 

[The Prince of All Saiyans]

Was never a card in the deck

 

[ORDER_66]

If you rich sure...

 

[BBG]

The alternative, giving the next nikka 1/3 of your paycheck every month with ZERO return on investment, isn't any better.


I split the difference and got an affordable condo in a beautiful suburb that I could put back on the market and have sold before the end of summer if I so wanted (absolutely not, I'm paying significantly LESS on my mortgage than I would rent every month). Save until you can put money down, and stop renting. Not saying this is what you're doing, but encouraging people to continue renting indefinitely is terrible advice.

 

[bourgeoisie tall freak]

that's why the qualification is to make 3x the monthly payment. if you qualify for the house income wise, then it should not be easy to fail but alas.... people gonna people

 

[Mike Nasty]

And let's not forget the unforseen big home repairs that would be needed over the years

This. You need to have at least $10K on hand, ready to solve a problem. No one ever told me this and I was very lucky "the incident" happened when I was well on my feet.

 

[BBG]

This. You need to have at least $10K on hand, ready to solve a problem. No one ever told me this and I was very lucky "the incident" happened when I was well on my feet.

You ain't got homeowners insurance nikka?

 

[CouldntBeMeTho]

Having a home should be a right


Trade that shyt for the 2nd ammendment Any damn day

 

[Mike Nasty]

You ain't got homeowners insurance nikka?

Ah yes the magical Insurance companies that are just handing out checks without raising rates

 

[maxamusa]

breh I know people who inherited homes. imagine working and you don't have to worry about rent/mortage. talk about easy mode.

 

[North of Death]

Homeownership bro > passport bro

 

[UpNext]

It's because you're always gonna need a roof over head. The end goal should always be a paid off house so if you don't live in Cook County or Jersey or something you're only paying $200 a month in housing because your house is paid off.

 

[Still Benefited]

In the near future underground bunker studios, tiny cubicle apartments and 3d printed homes will be the wave. So if your paying a mortage on a house thats worth 200K,it will be practically unsellable

 

[maxamusa]

It's because you're always gonna need a roof over head. The end goal should always be a paid off house so if you don't live in Cook County or Jersey or something you're only paying $200 a month in housing because your house is paid off.

breh literally the mission is to pass the crib on to the first born. its that simple at this point

 

[AllHolosEve]

-You can say the same thing about a car. I'm trying to own a house to pass down.