TOP 67 Comments
- Intel phdsbnThe primary question to buying a house: do you have kids. If not, there’s no reason to own.
- I'm sorry, but I have to disagree. I've owned three homes and moved three times for jobs and am position very well financially.
If you're willing to foot the bill for moving you only have to stay in the house for 5 years for buying to make sense, if a company is paying relocation (which they usually would once you get into a certain pay range) then even if you're only staying somewhere for a year or two it makes sense to buy.
- Yes, that's what I've done with each one. Although I have colleagues who have kept the first one as a rental property, they just don't have as much equity to put down on the next house.
If a company is paying for relocation, they pay the realtor fees which saves you a ton of money, usually 6% of the value of your property.Mar 31 1
- New goodforuVistaprint, you have it all wrong. I'm pretty sure if you sold and bought that much you left a LOT of money on the table compared to investing your down payment in stocks.
I agree with the above comment. Given the current market unless you have a need for a lot of stability (kids typically), don't put yourself in a home with buying. Renting is almost always betterApr 1 1
- SAP tortoisehhWhy not? Go for it. Don’t listen to the naysayers on this board. It is a great investment.
- Oscar 🐨koalaPopular opinion on Blind is usually rent and invest. I am on the opposite side. I believe in owning a property. If you don’t plan on moving away, then buying it is a good life time investment. If your base is 150k then you are looking at around what 7k a month after tax? And how much are you planning to loan?
I assume you do 20 years and 400k loan, then you are going to be paying at least 3k monthly, leaving you just 3.5k or so monthly from your base pay. But don’t forget if you plan on renovate that can easily be 100,000 for some people.
Some of these numbers are mine - I have a 350k loan.
- Netskope steveWozmoreDebt to income ratio is something which landers take into consideration before giving loan to you... its basically (per month installment / your pretax income).. most banks will want to keep this below 0.4 personally i would recommend it to be 0.25 or less, given the percentage of taxes we pay at such income levels....
- Tesla bICb68If you have 550k in cash - go for it.
I’d consider buying a condo.
It’s the best for the first time buyers.
- Sure, it's an over-simplification. Everyone should actually run the numbers in whatever market they're in. I've never run the numbers in the bay area, but in most cases that I have rent payments are significantly higher than a mortgage on a similar home. Maybe rent is cheap but buying is high in the bay due to speculation? If that's the case then maybe renting makes more sense.
You've also got to compare apples to apples. Many people will compare renting a one bedroom apartment to buying a 3 bedroom single family home. Those are two totally different things that cost vastly different amounts of money.Apr 8 0