I'm 23. Should I even bother about buying a house if I don't

>>1564792

What country are you planning on moving to?

OP, if you're comfortable in your living situation and are truly saving 90% of what you make, I wouldn't worry about it.

But if you want something more stable, buying a house isn't the worst thing, especially if it's in a metro area where you can sell it after building equity. If you change your mind about leaving the country, you'll have a place to stay, possibly debt free by the time you're ready to retire.

>>1564806
Considering Panama, as long as it doesn't get worse in the next 10 years. Really hard to predict right now. But I won't be staying in America. With automation and capitalism, it'll be the top 1% rich as fuck while the 99% jobless and on universal income living like animals.

>>1564792
At the savings rate you could be retired here in a few years.

Look into the boglehead philosophy(index funds)

I would stay away from the house, houses don't always appreciate. If you want real estate you can always allocate 20% of your portfolio to REITS(VNQ or
similar.).

Although if I was you I would probably make an exception under the following circumstance:
Buy the house well under market value and move some tenants in until you are ready to get off the road.

>>1564825
>really hard to predict

More like impossible. But who cares. Keep saving, live below your means, pick up a part time business/job(you'll be bored and want to do something eventually.).

Then if/when the shit hits the fan buy up all the assets for pennies on the dollar.

>>1564792
what do you make driving a truck

>>1565148
I make around $70K before taxes.

Does anybody have experience renting out spare bedrooms? What are the typical people you'd look for that are trustworthy? If I would buy a house, it would be around Virginia Beach probably. Should I rent out the bedrooms each to people in the military and keep a bedroom to myself, or just rent out the entire house to a family?

>>1565254
What is the eviction process like down there?


Renting by the room
Pros:

-Diversification, multiple revenue sources
-Potentionaly higher revenue, if you rent all rooms
-Option to keep a room for yourself

Cons

-Higher turnover
-Conflicts between roommates
-If you live there more likely to be bothered with small "landlord stuff"

>>1565303
Eviction laws here are,

For not paying rent, you must give them a 5 day notice of late rent before starting the eviction process. If the tenant does not pay the rent or move out within the five-day time period, then the landlord can proceed with the eviction

If you just simply don't get along with a tenant, you have to give them a 30 day notice, but the tenant has 21 days to file a defense in court. Don't see why a roommate would, but renting out to a family, they may have incentive to.

If a tenant does something that causes permanent damage or the like (think lease violations), you have to give them a 30 day notice on lease termination as well.

If a tenant breaks a law, such as drug possession (parties), they can be evicted without notice.

Only being home one or two weekends a month, I would probably rent out all bedrooms and just crash on the cough. But I'd want responsible people living there, not degenerate students. I was thinking of renting rooms out people in the Military. They likely wouldn't be home much either and there'd be little risk of damage.

>>1564792
Buy property as young as possible and just rent it against possible retirement/nestegg/contingency.

Just having a place to live if everything goes wrong will give you safety to do shit you couldn't otherwise do and it's obviously passive income too.

>>1565494
>But I'd want responsible people living there, not degenerate students
You want someone like me.

For years, I lived in this house by private rental and was the head tenant, I got a discount on my rent and took care of all the interviewing tenants etc for the landlord. This meant that I was in control of the house and got the housemates that I wanted to live. The landlord got to forget about the house and occasionally drop by to collect money from me, I had already collected it from the tenants.

So just get one reliable person who can see the self-interest in this deal and have them take care of the house for you. Obviously, if they leave rooms unoccupied for too long then you're losing money so that's the only thing you really need to watch, the rest is basically on them in exchange for giving them security and power in the house.

A middle-aged slacker who doesn't own property but isn't an idiot is a good choice, they can deal with the rest for you because it's way more important to them.

If you crash in the house now and then then you get to supervise it more closely but the landlord crashing on the couch sounds unpleasant so I'd keep a small room for yourself, something that would be too small to rent easily to anyone else, it's just a bed afterall.

>>1564792
I'm biased against real estate, but I'm canadian. Your market is a little more sane than ours.

You can always do a present cost analysis, but it sounds like the disagreement with your family isn't so much over finances as lifestyle. And from what little I know, you sound like the smarter one in that respect.