i Regret buying a house

Facebook
11 Xinping

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11 Xinping
Jul 29, 2020 345 Comments

i recently bought a house because of low interest rates and money lying around for down payment and completely regret it.

i know home owners shouldnt be saying this since is discourages other people from buying and helping their property apprectiate, but its the truth.

reasons why i regret

- dont plan to get married in the next 5 years
- the risks of making a huge loss because of leverage gives me sleepless nights at times. i know they say property always goes up, but the reverse can be disastrous
- bought 3 bedroom house and wont be fully utilizing it for a few years
- costs are way higher than youd expect. my property tax, hoa and interest itself is 75% of what id have paid in rent
- so much money going down the drain which is hard to budget for - property tax, interest, insurance
- kept around money for down payment for years
- cant move to another city for work in the next 5 years

my sincere advice to anyone looking to buy, please consider these aspects. despite what bs other home owners say on here tu

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  • Flagged by the community.

  • Facebook / Eng
    🛵💨BeepBeep

    Go to company page Facebook Eng

     🛵💨BeepBeep
    GET MARRIED!

    your next post should be: “where do I find someone to marry?”
    Jul 29, 2020 8
  • Indeed
    doodni

    Go to company page Indeed

    doodni
    Where did you buy?
    Jul 29, 2020 4
  • Intuit
    iron-bird

    Go to company page Intuit

    iron-bird
    This is exactly why my partner and I’ve held off on purchasing a home. We don’t like that fact that we’ll never truly own our home considering crazy property taxes and not enough tax credits. This doesn’t even factor in the insurance, interest, repairs and maintenance costs into mind. We would consider something with an in law unit that can offset some costs but it just seems like such a big financial risk for Bay Area. We’d rather invest our savings in another way.
    Jul 29, 2020 0
  • Rent it out and live wherever else you please? I agree, buying a house being single may not make the most sense toy everyone.
    Later in life, when you have a family of your own, you’ll appreciate the advantages of settling down in a permanent place.
    Jul 29, 2020 1
    • VMware
      ratracerat

      Go to company page VMware

      ratracerat
      Renting is another pain. I rent my condo but every now and then tenant would come up with stupid reasons to extort money or cause mental pain. For example my tenant fell in the bathroom and was trying to sue me. Of course he was trying to capitalize on it and it didn’t go anywhere but it still was a hassle to deal with unnecessarily.
      Aug 2, 2020