HELP! what should I do? I can buy an old boring house all cash,

Even if you got a house like on the left, you'd still be doing better than 90% of Millennials. If vanity is your biggest concern, leave California, faggot.

Dude if you can buy a house debt free do that shit. Unless it's a complete shit hole that your just gonna have to pour money into. Pretty much anywhere that things gonna gain value and you can flip it into a better house in 5 years

Left, mostly paid all upfront, no debts (except monthly maintainance, [water, electricity, heat, taxes] )

You can always upgrade if you save your money right and can make your house look less boring.

If the right property will appreciate even a little bit in value then definitely right

In 30 years, your new house would look exactly like the old house and you would be out a half million dollars that you could have invested and scammed others into buying new houses.

>>735635476
Debt free as much as you can. Don't fall for the jewish interest trap

When the economy goes down or for example Wells Fargo fucks by saying 1200 a month but u havent seen it under 2200 you will wish you had the house on the left and with that said u could afford a boat and truck and even add on to the left house and or by some land and keep cows horses and blah fucking blah

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>>735635476
Buy 5 - 10 acres w/ woodlands around it and build a house on it

>>735635476
>$1200 mortgage

My rent is more then twice that

Don't be a fool

>>735635476
depends if you want kids or not

the jews want you to "buy now pay later" go debt free so you don't have to be reduced to eating instant noodles and macaroni because of your debt,

>>735635476
Don't let the wife just quit her job unless she is actually raising the kids. It doesn't work out and she will get lazy and complacent then cheat on you when she is bored during the day.

Left now and start investing the $1200/mo. then in 15-20 years you can pay cash for a house like right and rent out house on left. make compound interest work for you, not against you.

>>735635476
Cash, no bills.

That's called security.

go for the plain jane house. It might be boring but it's all paid off out front.

If it's boring you can always improve the look.

>>735635476
Its looking more like people should stop following the non existent american dream and go for something affordable and be debt free.

>>735635977
See dubs gets it

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>buy cheap house
>live X amount of years
>save $
>slowly update and fix house
>buy a bigger more badass house
>most murica of house
>complete with eagle statue
>rent out the old one
>bigger down payment on super house means lower monthly
>ez shit
/thread

>>735635476
>the only expenses on a house are utilities and taxes
You need another 10 years of living to undo that kind of stupid

>>735635476
house on the right is a McMansion piece of shit.

WOW! thanks everyone. Great responses.. I going to go with my gut feeling and go with little boring house on the left. And it those have 3 bedrooms. Not bad for raising kids.

and the big house isn't personal vanity. Is just that most our family goes for the big houses. Financially, is a real drag. But the areas are always nice and so are their yards. While I been living in a shitty apartment for yrs (reason for our savings)

>>735636012
Being able to afford other shit bc our government is a bunch of fucking niggers wearing white nigger skin is the new American dream

>>735635476
Debt free anon here. Sold massive house and bought smaller one cash. You cant imagine the weight that is lifted off your shoulders knowing that you have no mortgage and don't pay rent. You will never find that feeling of freedom anywhere else.

>>735635476
is this a troll post your are you just a fucking retard?

>>735635476
>>735635476
Funny, man. I am in a similar situation. You get tax breaks if you get a mortgage. Personally, imma go big and get a 3000 sqft house with a pool and have a house I enjoy. But that's me.

>>735636188
And fucking dubs and the dubs know

Duh. Fuck the bank.

>>735636210
property taxes are still gonna sting, tho

t. anon who is paying 29,000 USD per annum to the state of california even though the house is paid off...

>>735636333
Trip trippity trip trippity trip trip trippoo

>>735635476
Are you a fucking moron? Buy the old boring house and use it as a firm foundation from which to build yourself up. Then you can buy a nicer house later on and stay in a similar financial situation.

Jesus fuck me Christ you are stupid.

>>735635476
As long as it's in reasonable condition, get the house you can buy outright.

Keep in mind that in addition to the things you listed, you will also have insurance and maintenance costs. Maintenance costs can be higher than you might expect.

Also, you've already made the mistake of getting married, but since you have, don't make the further mistake of letting your wife quit work unless she's doing it to raise the kids, and doing a damn fine job of it.

>>735635476
Do you have kids? If not then there's no reason to buy a house. Just get an apartment or condo. Also, debt is never a good idea. Tread as lightly as possible. Travel light, my friend. Also, if you do decide to go for the small house and stay debt free then you can always put some money into renovation and make a great project out of it.

>>735636435

taxes are based on property values. the smaller house still pays way less than the bigger newer homes.

>>735635476
now a days its all about the lot not the house. which home is in a better area with a higher property value? you can always reno the old house or even tear down and build new on the lot if you want. the home on the left is a good starter home and if you buy in the right area you can always sell on the up turn when the market favors the seller.

>>735636258
see how angry you got me, i couldnt even type correctly

>>735635476
Get both. Live in the nice one, rent the old one.

>>735636435
Ouch. Mine is 2kUSD/year.

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>>735635602
>California
>1200 a month
>anything

>>735635476
It's all about "caring how you look"

Go ahead and stress yourself out over that, but I'd be happier in the affordable home

>>735635476
Wtf i pay 1200 for a shitty studio apartment. Get the big house

>>735636776
I assume the money that would be used to buy the old house outright would be a down payment on the new house. That would dramatically increase the mortgage on the new house, assuming he could even still get the loan.

5yrs ago, we jumped out of an underwater cali house (owed more than it's worth by a wide margin). Fortunately, we had the means to buy a bigger house out of state for a song, totally cash. Another anon mentioned the feeling of freedom of not having a mortgage...hory shet is they right! Prop tax and utilities are our only expense aside from maintenance. And we bought in a high value growth area and are now sitting on 68% on top in those 5yrs.
Go with the little place you can own, you will not be sorry

Deff the house on the left, that's my dream is just to own a small, nice looking house like that one and if I can get it paid off in no time and have no debt, that'd be swaggy. Fuck paying for a bigger house which you'll enjoy for like a month and then get bored with it and want to kill yourself knowing you have monthly payments for it.

taking care of a house whether it's new or old is no small task, but if your dead set on home ownership the choice is obvious. (house pictured on the left) remember appliances, plumbing, cooling, heating, electrical, etc. all very expensive and not to mention the upkeep especially if you live in a place where home owners association

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>>735636435
>29,000 USD
>per annum
You expect us to believe you're in America?

>>735636435
i pay 16k a year on a 800k house in San Mateo.....where the fuck do you live

>>735635476
Hands down..the house on the left. Travel. Enjoy your life. Fuck a huge mortgage.

>>735636530
>op
kids are in the near future. And a condo would be too small for that. Seeing the nice big houses is tempting as fuck, but I guess owning upright would be the best choice. Even maintenance, insurance, and taxes should be way smaller than a 12 hundred monthly commitment.

but no pool or fancy dog park...

>>735637072
my nigga

I'm kind of surprised by the answers. I definitely get being debt-free. have lived that way my entire life. pay cash for everything. but here's the here's the thing I haven't seen anyone mention: Let's say you have $200,000 cash and you want to buy a house. You could pop that money down on an average house that you like but don't love. Or you could buy $300,000 house that you love.

If you drop that 200,000 into your house, that money is tied up. It's gone. It might take you 5 to 10 years to save $200,000 again. But if you get a mortgage at 4%, you could invest that 200,000 and make lot more than 4%. This is why paying cash for a house is not always the best idea even if you can.

>>735635476

a house like the one on the left is my dream house. no lie.

>>735635476
why not something in the middle? my house is $775 a month with taxes included in escrow. 850sqft in one of the safest and most desirable neighborhoods in my state, guaranteed to appreciate.

>>735636776
>Get both. Live in the nice one, rent the old one.
>>735636961
>I assume the money that would be used to buy the old house outright would be a down payment on the new house

THIS. it's one or the other. Give a big down-payment on the expensive house to avoid mortgage insurance, and to get approved easily. OR use it to pay off the smaller house.

>>735635780
where do you live and how nice is your house?

>>735637097
The pool is hard to give up. I'll grant you. But not having that debt over your head is a hell of a feeling. Trust me. I rent but I'm otherwise completely debt free. It's an incredible feeling that most people don't ever feel throughout their entire lives. Not to get too personal but I'd recommend putting off kids for a few years. It's just not a good idea. Also, we're due for another economic crash soon and when that happens the real estate market will crash with every other sector. I'd recommend holding off on buying a home until this happens.

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>>735635476
OH SHIT NIGGER! YOU IN LAS VEGAS? THE HOUSE ON THE RIGHT IS NEAR ME IN SUMMERLIN

>>735635476
Get house on the left, work at same pace for 3 decades, and either retire in a nicer house or travel to the places you always wanted to.

Conversely, work the same pace in house on the left and spend money on bookers because of you're actually this dumb you probably don't have a girlfriend.

>The key to wealth is to live below your means.

>>735635476
Do you even need a big house right now? Why not get the house on the left now, save some more and then upgrade in a few years?

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>>735637485

>>735637254
The decision to buy a house should be the combination of a personal and a business decision.
In my experience, home ownership is costly regardless of which path you take. But the more expensive house will end up costing you more in interest, property taxes, insurance, utilities, and maintenance. When you combine that with the typical fact that most folks can't invest for shit (or lack discipline to do so with their nice shiny mortgage house) it turns out to be a false economy and folks tend to get over-leveraged rather quickly, furthering the debt cycle deeper.

>>735635476

>I don't want to look like a poorfag

Which is why you will always be a poorfag.

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>>735637728

Don't take on debt unless you have to. Also, hold off on debt until you're read to have kids.

>>735637728
keep your total housing costs to maximum 30% of your income. should be ok as long as you aren't an idiot.

borrowing money is for cucks.

i own my home. best thing in the world.

Pools can be really high maintenance, along with everything else that comes with a larger house. I guess we are assuming that the 12000/month is just the mortgage, how much are the property taxes? insurance? the increase of heating/cooling? Shit adds up hella fast and can easily destroy a budget.

>>735635780

New York, San Francisco?

>>735637977
fuck, 1200/month

Fam even on minimum wage you could afford the house on the right. I'd kill for a house like that around those prices in nj, i make 60k a year and all i see are 400k houses that arent half that size.

>>735635476
>>735635476

What matters is the equity in the property and the value of it Vs what it will likely be later on. A house is a complicated purchase, not just something you buy.

>>735637407

Hahaha, nice. You got it. How is the area??

>>735636435
>t. anon who is paying 29,000 USD per annum to the state of california even though the house is paid off...
top kek, my property tax is $900/year on a $60,000 house.

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>>735638050
>nj

When I was house hunting (28yrs old) I really wanted a new build, multi story house, 3 car garage in a mostly white neighborhood (i an black). So wifey and I drove around all these recent build suburbs that were going for $350k ish. Know what we saw? Every other house had a blue collar vehicle out front. Electricians, plumbers, cable guys, obvious construction trucks. (This was at night, so no one was working, the trucks belonged to the owners) one could take this two ways.

1: hey, even blue collar workers with an average income of $50k could afford this, why can't I?

2: oh fuck. All these people are trying really hard for that American dream look of having money and if ANYTHING happens like an accident or getting fired, these people are going to lose everything because they over committed.


We settled on a brick house, 2 car, 1,700 sq/ft house for $205k. It's been 4 years. We drive near those houses a lot due to commuting and we saw a lot of for sale signs. Like. A fucking lot. Checked zillow and most of them are in short sale or foreclosure. People can't afford the maximum amount forever. Your kid gets sick? You just lost your house. You caught your wife cheating? You lost your house. You get a DUI? Goodbye house.

Stop trying to look like you have money, buy way less than you can afford in a white neighborhood and you will have savings, can fix your car when it breaks, afford to go on vacation, etc.

>>735635621
I agree with this guy

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>>735637728

>>735635476
House on left, dawg. Save that $. Accumulation of cash/investments at an early age yields to an early retirement.

>>735638121
you couldn't pay me to live anywhere that had houses that cheap.

>>735637254
wut

>>735638100
its nice, hot as fuck. great people. far enough away from the shitty parts but close enough to have fun. safe. great parks. Red rock is 15 min away

I've owned big houses and small houses. Realistically, you really use the kitchen, the bedroom, and maybe the office. The other rooms suck up heat energy and maintenance. If you don't plan on filling the space with kids, stay out of debt. My advice only. I fuckin' hated being in debt, some are more OK with it.

>>735635476
>do it the American way
buy the small house outright, use it as capitol towards the big house, rent the small one to make the mortgage payments on the big one

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>>735637954
Listen to this guy.

>>735636120
This.

>>735638273
he's talking about keep assets liquid

>>735636966
>buys little place
>bunch of nig nogs and "poor" people buy in that area
>bunch of criminals use the houses for any number of illegal activities
what a nice neighbourhood, OP totally did the smart thing by choosing to say no to the bankers.

>>735638050

Las Vegas my friend. Those casinos need accountants, IT people, lawyers, chefs, cleaning staff, and everything in between. And the houses are pretty cheap taking into account that it's a pretty big city.

>>735638317
>Realistically, you really use the kitchen, the bedroom, and maybe the office.

Unless you entertain a lot. But if you do that, you probably have enough money that you don't worry about decisions like OP's.

>>735635476
left, because even if you manage to pay the $1200/mo, you still have to factor in maintenance when something fucks up.

>>735638331
that assumes a lot. it assumes that the house will appreciate and enough to cover whatever costs the cheap house will require to fix as well.

a bad investment is a bad investment whether you pay cash or not.

>>735635476
I pay $800 a month to live in a converted garage. It's very nice for what it is, but still. Just buy the house outright. If later you decide to upgrade you can sell it and make a down payment on something better.

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>>735637728
This is the advice a professional Financial advisor would give in general terms. In other words if theyre writing an article about it, they want to generalize and say most people can't invest well, so therefore tie your cash up in a house; it's safer that way. I get that. But if you really think you can invest and beat say 8%, then it's better to invest your cash and get a mortgage. This is the situation I'm in right now. (I'm not OP by the way.) I have roughly 160,000 with another 45,000 in a 401k. I could work another year and pay cash for a decent house, or get a mortgage and buy an awesome one. Tough call, especially since I think there will be a crash coming.

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>>735638433
found the Jew

>>735635476
unless you can bank on that job for 30 yeas I would go left

>>735638502
SHHHHHHH! i dont need any faggots from NJ moving here.

Hey NJ fag, its over 100 here, filled with spics and nigs...go away

>>735638285

man, love hearing that. I'm actually moving from out of state, and don't know the area that well. Only been there on vacation. What are the crappy areas?

>>735638629
ya why should he question the house's initial low value? only an idiot would do that! houses are usually really cheap because they're in desirable ares with great neighbors and rising property values! /s

>>735638861
>crappy areas
North vegas. and anywhere near the Air force base

>>735638901
what if i'm the nigger though?

>>735638965
noted...thanks

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>>735638555

>>735635621
flip it cuz it'll be worth more in 5 years

>assumes other house prices stay stagnant

>>735639061
Oh and anywhere "just off the strip" has a 50/50 shot at being a shit hole

>>735636166
Still better than a mortgage on top of all the other shit too.
And you know this.

so these are your only options huh

>>735638567
no, it assumes op will continue to work and save money, since he has no house payment

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>>735639244

>>735635476
Buy out and renovate. Much better deal, plus better certainty

>>735639046
sucks for you. better luck next life.

>>735635476
Left, any day. House debt is the main reason for desperation, stress and difficult life choices. Houses are a gamble, and the number one quality of Life achievement is a house fully paid that is fully detached. No neighbour issues and hidden fees.

>>735638582
I have no doubts someone dedicated to task can beat 8%. The problem is OP is a first time homo (op always faggot, see what I did there?) so there is little experience base upon which to build and model financial expectations and budget. It also neglects the effects of rising equity, as well as the ability to leverage the investment as collateral at some latter point.

For me, I only carry debt on investment properties (rentals) because they buy themselves, using them to leverage yet more purchases of rentals (I have three now). In some ways this is a trap, because it raises interesting tax situations where it is difficult to extract money from that structure other than cash flow.

Even in your situation, I'd go the route of buy affordable with zero debt and improve yourself to what you want, or flip the fucker onto the next step.

Lastly, you know you can pull out 250K tax free profit (after purchase, sales, and improvement expenses) in a flip, right?

>>735639307
buy a house and watch how fast all that money you save disappears back into it.

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>>735636120
>>buy a bigger more badass house
>>most murica of house
>>complete with eagle statue

>>735639644
i own a couple currently, and have my eyes on a 3rd. The rental is a rental, doesnt have to be fancy.

>>735639675
The eagle has to scream, tho.
And launch fireworks.
And land on the moon.

>>735639412
I clicked this thread in hopes of getting ideas, learning something, and getting other people's take on it, because I'm in a very similar situation as OP. And I wasn't disappointed. I screencapped your post.

I'm dealing with mortgage companies and banks right now trying to get prequalified. And I have zero credit: I don't have good credit or bad credit, I have no credit because I buy everything cash. You would think that that means good credit because I pay for everything upfront. But that's not what it means. Now I have to prove to them that I pay everything on time and they're holding up a bunch of hoops that they want me to jump through and I don't know if I'm down for it, so I'm thinking it's easier all the way around if I just pay cash. Good tips man, thanks.

>>735635476
>I don't want to look like a poorfag, but I'm also too lazy to keep working at my current pace for the next 3 decades.
Which do you care more about, appearances or your mental health? Add in the fact that if you're working yourself to death, your wife will probably cheat on you with a nigger because you're not spending enough time with her. So in the end, you'll end up losing your nice house anyway, along with half of any other stuff you have and a good chunk of your salary, after your wife divorces you for a nigger.

>>735640364
that post doesn't provide that much information to the average home buyer. it sounds like you need to take some time to develop s credit history. this idea that paying everything cash is better is pure nonsense. put your basic monthly expenses like gas and groceries that you know you can always pay on a credit card and pay it off at the end of the month. you will build credit while avoiding interest. as an adult a good credit score is extremely valuable. it can make the difference between coming out of a difficult situation ok and financial ruin. buying a house is a complicated purchase and there are a lot of variables that need to be taken into account. you're an idiot if you think 4chan is any sort of source to learn this process.

>>735640364
I hear you. It's like you have to prove you have money before you can borrow it. But this is part of the trap, too...if you have money (or ability to acquire currency) you can also get too leveraged, and the bank might end up with your house.

So, get a credit card and ensure you pay the damn thing off every month. That will build your credit rating. A car with a very low APR is also good for that purpose, and if the shit hits the fan, you still have a house.

https://youtu.be/qZL0-b64uPo
Watch this /b/ros

>>735638236
But why?

>>735640910
>get a credit card and ensure you pay the damn thing off every month
this doesnt help the credit rating

>>735641612
because they usually are filled with undesirables or are in part of the country that would make me want to kill myself.

>>735640899
No of course /b/ is not the place to learn about homebuying but there are some smart people here who have some good ideas. I do need to develop a credit score but that takes a couple years from what I'm told. And I really don't want to wait for a couple years so I have some decisions I need to make.

>>735640910
Alright. Advice taken. Thanks again

>>735641955
btw i just bought my first house six months ago. i learned that shit the hard way. i already had a decent credit score though. it was emotionally exhausting.

>>735635476

in 20 years the option on the left will cost $1000000

>>735641754
uh yeah it does. your total credit limit, carried balance, late payments, and average length of time you've had the lines of credit open all affect your credit score. i have two credit cards that i got at 16 and 18. i'm 33 years old now and those are the only lines of credit i've ever had. my credit score is over 800.

>>735641776
i'm that guy with the house, i live in small town iowa. i wouldnt want to live anywhere else.

>>735641776
Not if you get a foreclosed home because retards like yourself like to live outside your means.

>>735642333
then you haven't been anywhere else long enough.

seriously, do you not see how deluded you are to believe that small town IOWA is the best place to live?

>>735642510
it's the best place for me. get mad fag.

Buy house on left. Fix it up to code, catch up on landlord laws and shit and lease the fucker.
Live in a nice apartment till lease is up, by that time it'll have appreciated some, plus, you will make profits.

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>OP here

MAJORITY RULES. Old boring house WINS.

without a monthly rent or mortgage; I should be able to afford plenty of upgrades on the house. Add a nice tall fence in the front. Work on the landscaping. Build a nice deck in the back yard to BBQ. Installs wood floors in the living room. Maybe the cheap wood they sell at Home depot, but it looks fancy and I can do all the work myself. New paint all around. Modern light fixtures. I will cut the tree down and install a Huge Iron Eagle perched on the moon with red, white, and blue lights pointing from the bottom up.

It's going to be small, but cozy as fuck.

>>735635476
Buy the house on the left with a mortgage. Taxes

>>735642687
maybe. owning rental properties isn't a cakewalk and not just any property makes a good rental investment.

>>735635476
Nothing beats the smell of a new home. Plus any house built pre 70s is likely to have all kinds of cancerous shit in it. Also consider that repairs will need to be done earlier on an older home than a new house.

>>735642818
so it's a giant money sink. you are going to blow your income and time on improvements that you wouldn't need to do with a reasonably priced property.

>>735635736
whats this about in your pic?

>>735640120
The fireworks land on the moon, or the house lands on the moon? Because if the house, you're gonna have to pay a like billion dollars a month in moon rent, that's no good.

Before Loving v. Virginia, there had been several cases on the subject of interracial sexual relations. Within the state of Virginia, on Oct. 3, 1878, in Kinney v. The Commonwealth, the Supreme Court of Virginia ruled that the marriage legalized in Washington, D.C. between Andrew Kinney, a black man, and Mahala Miller, a white woman, was “invalid” in Virginia.[23] In the national case of Pace v. Alabama (1883), the Supreme Court of the United States ruled that the conviction of an Alabama couple for interracial sex, affirmed on appeal by the Alabama Supreme Court, did not violate the Fourteenth Amendment. Interracial marital sex was deemed a felony, whereas extramarital sex ("adultery or fornication") was only a misdemeanor. On appeal, the United States Supreme Court ruled that the criminalization of interracial sex was not a violation of the equal protection clause because whites and non-whites were punished in equal measure for the offense of engaging in interracial sex. The court did not need to affirm the constitutionality of the ban on interracial marriage that was also part of Alabama's anti-miscegenation law, since the plaintiff, Mr. Pace, had chosen not to appeal that section of the law. After Pace v. Alabama, the constitutionality of anti-miscegenation laws banning marriage and sex between whites and non-whites remained unchallenged until the 1920s

>>735639380
>implying there's a next life
don't be mean by giving anons false hope.
it's very rude.

>>735643053
You have jo idea of the condition of the property, many are not money pits. Make sure to get at least two inspections done so youre aware of what the costs will be.

>>735635476
are you living near a bunch of niggers if you get the house on the left?

>>735643053
>so it's a giant money sink

I see it as more of a project. And it doesn't have to be done all at once. On the other hand, when the banks want their money at the end of the month they don't fuck around. they don't care if your are in between jobs or got sick.

We lost our family home back in 2008, and it's a horrible feeling when the banks have you by the balls.

>>735635476
As long as the neighborhood is ok where the house on the left is located? 100% go for the house on the left. There is nothing wrong with boring or basic. Since you won't be a slave for 30 years for choosing that house, spend money fixing up that house on the left, make it NOT boring and basic. Godspeed, OP!! :)

>>735643794
why not find something in the middle. those two properties seem to be two extremes. surely there is a middle ground?

>>735642281
>in 20 years the option on the left will cost $1000000

care to elaborate?

>>735643973
>surely there is a middle ground?

actually there is, but I like the idea of owning a place free and clear. Also, the new properties are super sweet, but they cost a pretty penny even with a big down payment. The third option is to use that down payment on a decent house (the middle ground if you will). And get a low monthly payment on a 10 year loan (not sure if they do 7 yr fix mortgages).

>>735641754
Absolutely wrong

>>735640650
Great use of the word nigger twice

>>735645104
i bought my house for $155,000 and i put down ~$40,000. monthly payment is stupid affordable. i could afford it on minimum wage if i had to.

>>735636120
/thread

>>735635476
Left

>>735635476
id go with the left

i hate vegas tract housing, they put in the cheapest shit.

>>735644244
massive inflation from a failing economy caused by a falling empire

>>735635476

Live modestly until you can afford to be a baller.

Owning your house doesn't make you a poorfag, it makes you smart.

>>735642951
>any house built pre 70s is likely to have all kinds of cancerous shit in it

do home inspections catch this sort of things? I know asbestos can be hell.

>>735647543
Horseshit.

>>735635476
Never go into debt if you don't have to. Buy the cash house.

>>735647664
hardly. it's impossible to keep out rodents/insects, so you're going to have carcasses and feces in the walls/attic, argueably more dangerous than asbestos

>>735649146
lol as someone who ones a house made in 1940 i say bullshit. your home inspector will find any if it's there. you know that saying, "they don't make em like they used too?" it's true. newly manufactured houses these days are made to be disposable. come to my house and try to find a piece of particle board. everything is solid hardwood.