What are you thinking about?

[titansNvolsR#1]

Since it's on the topic above: 

Would you recommend buying a condo if you live overseas but want somewhere to stay when you're in the US? Or are condos a waste of time and just buy a smaller house? Some of these condos I look at online are incredible. I understand that appreciation doesn't happen at the same rate of a house though and you don't own the land, just the condo. 

Would also be nice to have options for in-state tuition if my daughter decides that's the path she wants. 

[Tugboat]

42 minutes ago, candyman93 said:

Going to be interesting in 30-40 years if a show captures the era we’re in now similar to how mad men did the 60’s.

 

Just an all time great show.

It's cute that you think we've got that many years of advertising manipulation before the world ends.

 

 

 

Would you like a John Deere Tractor?  It won't cut your limb off.  But if you want to use it to produce crops in the climate apocalypse, it'll be fundamentally linked to the John Deere Network.

[Tugboat]

1 minute ago, titansNvolsR#1 said:

Since it's on the topic above: 

Would you recommend buying a condo if you live overseas but want somewhere to stay when you're in the US? Or are condos a waste of time and just buy a smaller house? Some of these condos I look at online are incredible. I understand that appreciation doesn't happen at the same rate of a house though and you don't own the land, just the condo. 

Would also be nice to have options for in-state tuition if my daughter decides that's the path she wants. 

What's the year of the building an Condo fees?

 

 

Otherwise you're living my best life.

[ramssuperbowl99]

Just now, titansNvolsR#1 said:

Since it's on the topic above: 

Would you recommend buying a condo if you live overseas but want somewhere to stay when you're in the US? Or are condos a waste of time and just buy a smaller house? Some of these condos I look at online are incredible. I understand that appreciation doesn't happen at the same rate of a house though and you don't own the land, just the condo. 

Would also be nice to have options for in-state tuition if my daughter decides that's the path she wants. 

I'm terrified of having to re-sell them, even with a property shortage. And I don't want to be a landlord, so for me it's a no-go. I think the overseas complication would compound that stress.

There are way easier, cheaper ways to get in-state tuition. You could get an apartment the year before and spend 181 days there, just scan at a gym and keep the badge logs.

[Tugboat]

4 minutes ago, ramssuperbowl99 said:

Have you sincerely explored buying a house?

Between principal, interest, taxes, insurance, and HOA fees (if applicable), I'd be looking at around $3k/month for an average mortgage. My rent is half that. Over a 30 year mortgage, if I invest $1500/month savings at 5%, I've got $1.2MM.

That doesn't include the increase in square footage that generally comes with the transition from renting to owning leading to higher bills, expenses from yard/extended property care, and maintenance, so I'm underestimating the housing costs. It also doesn't include investment gains from the downpayment or PMI, so either increase the monthly or take the better part of $100k out of the market on top of all that.

Renting is perpetually cheaper for some people because a house comes with a bunch of expensive **** that not everybody needs. Wanting to rent forever doesn't make someone a "company propaganda bot". It means they have a lifestyle where a house doesn't add significantly relative to the up front expense.

I got looped in to this, and yes...i understand what a house costs.  I'm really just looking at a condo and i don't want to live far from life.  But it's still insanely expensive for something decent.

 

But also...if i were just buying a "house" as a single family dwelling, i'd be very confident in my ability to flip a piece of **** into something i like.  I know what i'm doing.  But when it comes to condos, it becomes a whole ridiculous thing.  I'd rather be in a high rise condo. But they all have covenants that make it impossible to do what you want.

[ramssuperbowl99]

Just now, Tugboat said:

I got looped in to this, and yes...i understand what a house costs. I'm really just looking at a condo and i don't want to live far from life.  But it's still insanely expensive for something decent.

 

But also...if i were just buying a "house" as a single family dwelling, i'd be very confident in my ability to flip a piece of **** into something i like.  I know what i'm doing.  But when it comes to condos, it becomes a whole ridiculous thing.  I'd rather be in a high rise condo. But they all have covenants that make it impossible to do what you want.

The only thing up front more expensive than buying a house is buying a fixer upper house. There's a reason those houses are priced to sell - most people who buy a house don't want to be cash poor for the first 10 years they own it.

Understanding the pros and cons means you should be aware people who want to rent perpetually are not company bots, nor are they perpetually getting scammed because they walk away without home equity.

[Tugboat]

10 minutes ago, ramssuperbowl99 said:

The only thing up front more expensive than buying a house is buying a fixer upper house. There's a reason those houses are priced to sell - most people who buy a house don't want to be cash poor for the first 10 years they own it.

Understanding the pros and cons means you should be aware people who want to rent perpetually are not company bots, nor are they perpetually getting scammed because they walk away without home equity.

It's not about whether i like a property being owned buy one rich person or a person developing that into a property for rich people.

 

You're talking about "pros and cons of buying" though, when most people can't even fathom a down payment on a house.  That's supremely ****ed up.

[ramssuperbowl99]

1 minute ago, Tugboat said:

It's not about whether i like a property being owned buy one rich person or a person developing that into a property for rich people.

 

You're talking about "pros and cons of buying" though, when most people can't even fathom a down payment on a house.  That's supremely ****ed up.

I am saying this sentence:

1 hour ago, Tugboat said:

I get not wanting to be tethered down or whatever, but you sound like a rental company propaganda bot when you say stuff like that. 

is stupid. The fact that the pros and cons of buying a house are complicated is an illustration of why.

[TVScout]

2 hours ago, Tugboat said:

Nobody is buying the "most expensive house they can find" lmao.

Except for almost everybody I know.

Where do you live?

[candyman93]

Homeboy used a blowtorch to steal drugs that were locked up 

 

 

[Tugboat]

8 hours ago, TVScout said:

Except for almost everybody I know.

Where do you live?

What kind of ultra wealthy lunatics do you know?

 

Nobody goes out on the market like, "imma buy the most expensive house i can find".  They just put bids in on multiple houses they can afford that meet their needs, and lose out on all of them to robobids and "investors".  Until they finally find one where they decide to just go in over their heads in order to actually...win the house.

 

 

People don't want to be "house poor".  They just end up that way, because housing costs an insane amount of money today.

[Tugboat]

9 hours ago, ramssuperbowl99 said:

I am saying this sentence:

is stupid. The fact that the pros and cons of buying a house are complicated is an illustration of why.

Sure, going into a "fixer upper" without the cash and knowhow to fix basic things is obviously a disaster of an idea.  Even "finished" houses have costs associated with ownership that pop up unexpectedly and have to be dealt with.

 

 

But the fact remains, the end goal is to ultimately get every aspect of your life on a "subscription fee" because that's more profitable.  You're making somebody else rich with that, and not just the banks...which also get more rich off of it.  Wanting to be a "renter" in perpetuity is buying in to that, full bore.  Pay money, own nothing.

 

It's the same reason companies across the board are looking to do this if they can, even with historically terrible "investments" like automobiles.  Where BMW were the poster child for this with their service that can enable/disable heated seats based on what subscription you have that month.  But it's the concept that the entire world is catastrophically hurtling toward.  You own nothing.  You do your work and subscribe to the company services.

[TVScout]

2 hours ago, Tugboat said:

What kind of ultra wealthy lunatics do you know?

A few but that is not the point.

2 hours ago, Tugboat said:

Nobody goes out on the market like, "imma buy the most expensive house i can find".

 That is not true because there are millions of luxury homes around the country.

https://www.curriproperties.com/blog/182/Top+Reasons+People+Want+To+Buy+Luxury+Homes+Today#:~:text=Therefore%2C many people choose to,requires for an extravagant lifestyle.

[Tugboat]

5 hours ago, TVScout said:

A few but that is not the point.

 That is not true because there are millions of luxury homes around the country.

https://www.curriproperties.com/blog/182/Top+Reasons+People+Want+To+Buy+Luxury+Homes+Today#:~:text=Therefore%2C many people choose to,requires for an extravagant lifestyle.

Okay, so you're talking about people generally...while referring to things that a few of your ultra wealthy friends do?

 

**** off.  Genuinely.

 

I'm not even going to dignify that link with a click.  Most people don't want "luxury homes", they simply want solid, reasonable homes that they can afford to pay the mortgage on every month.

 

Your idea that people are in debt because they all wanted to buy overly extravagant "luxury homes" is some sort bizarre convoluted projection.

[MWil23]

Okay, I’m going to give a bunch of different “scenarios” here that are legitimately perfectly hypothetical to illustrate my point on housing. Full disclosure I’m not endorsing any particular idea or method but merely illustrating that many of these methods are valid and lead to the same destination after roughly a 30 year period of time.

Lets say that I buy/build my “forever house” and lock into a 15 year mortgage at a 2.25 rate (I did) in December 2020. My last payment will be around the time I’m in my upper 40s with one kid in college and two more likely to go. While maxing out my employer match and my wife doing the same concurrently, we won’t have as much liquidity or availability to do side investments. However, we will have a lot of liquidity to pay for weddings and college expenses in cash with the mortgage payoff.

Let’s say @Tugboat buys a home and flips it because he’s very handy and continues to do the same thing for 15 years until he buys his forever home in cash. He’s basically going to be where I am during the same time while taking an alternate route.

Let’s say @ET80 decides to be more risky and consistently utilizes HELOC and cash out refinancing on his home essentially using it as a giant low interest rate credit card, while using the credit to purchase other houses, start a business, or something else that will get him long term success. After 30 years, he can sell his home, clear his debt, pocket the cash, and move where he wants.

Let’s say that @ramssuperbowl99 never buys a home but aggressively maxes out his Roth, employer match, and utilizes his HSA hacks. He has zero worries about fixing anything for 30 years or having to invest in things like tools or yard equipment. At 50-55, he’s flush with cash having played the long compound interest game, and can probably buy a home in cash if he wants, or continue to rent a reasonable place having set aside money to do so each month with the interest paying for those things instead of his principal investment.

There are even 2-3 more legitimate avenues that I can see people utilizing, such as my brother in law who fixes dumps up and then rents them (flip to rent) and will have a nice cache of quality rental properties to bring in monthly income for him, or he can give a house to each of his kids come adulthood.