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Anonymous
Buying a first house? 2016-07-04 02:37:40 Post No. 1358963
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Buying a first house? 2016-07-04 02:37:40 Post No. 1358963
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Hello /biz/
I am about 30 years old. I figure it's about time to move out of my mom's house (she is disabled - I pay half her mortgage, it's a long story)
There's a bunch of houses in the $100,000 to $150,000 range near me. I have saved $15,000 that I could use for a down payment. This will leave me several thousand left in my bank account.
Is this a good idea or should I rent an apartment? I never moved to an apartment because they are really expensive and seem like a waste of money.
Thanks /biz/
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do you plan to stay in the same place for over 5 years
do you plan to have kids soon
if no to both then rent
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>>1358976
>do you plan to stay in the same place for over 5 years
Yes. Forever. I don't travel, I have no friends or social life, I hate change.
>do you plan to have kids soon
lol no, I plan to keep my virginity intact, thank you very much
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>>1358963
Buy $150k house. Need $30k downpayment. Rent out 1 room to someone sane for $400pm (+ utilities). Pay mortgage as quickly as possible.
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If you cant afford to put down 20% on a house. You cant afford it.
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>>1358994
then owning beats renting
save for 30k down for 150k, hope you like yardwork
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>>1358994
bad excuse for being a faggot
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>>1358963
Are you me?
I'm 27, live with mom, have no life but a decent $70k/yr job, currently paying the mortgage because mom's on worker's comp for another few months.
Problem is I live and work in NY and everything is expensive as fuck. Don't particularly want a landlord but don't want to throw down a $80k down payment either.
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>>1358963
Man, the only houses in my area are 700-900k and I would have to pay a stupid mortgage, like nearly 5k and that's before any property taxes and living expenses.
LOL, fuck Toronto. Gonna rent and let them subsidize me.
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>>1358963
Only if you want to buy housing in inner big city Canada, like Toronto.
It's a stable market with strong domestic support that will never fail, invest now for a good long term payoff and a steady place to live in that you actually own.
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>>1359159
>Will never fail
Well, until people cannot afford to make their mortgage payments, and 70% of homes in Toronto can't afford another 2% increase in their loan rate...
Buying into the hype markets of Toronto and Vancouver is suicide now.
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