/biz/ - Business & Finance

>>10841186
just go look at a mortgage calculator, you can put in approximate APR%, down payment, and total cost of house and it'll tell you how much total interest you'll pay and how much your monthly payments will be

housing prices are pretty much at ATH everywhere but who knows when the bubble will pop, maybe in 6 months, maybe in 6 years. Personally I'd buy if I were you especially if you're actually planning to live in the home, your mortgage payments with $80k down will be less than the cost of rent in a similar sized home

My house was around 470K. I put ~30k down.

My weekly payments are 500. So with utilities and mortgage, you should budget at least 2600 per month.

Also, I'm super glad I bought my house. Way better than renting.

>>10841186
suburbs cost too much, same for large cities.
you are better off buying a house in the countryside

>>10841210
Isnt there special deals for first time buyers?
And is there special almost 0 down very low interest rates going on?

I make about 60k a year..
But may move my parents in so they can contribute another 20k I'm sure..
Think this enough for a 400k house, maybe a 450 to 500?

>>10841254
Interesting..
So about 30k a year, including electricity, water..
How are your taxes?

And how big was your house? Get a beauty?

Oh and buying vs listing price..
What did you offer vs what was listed?

>>10841335
Yeah about that. My utilities are about ~300 a month depending on how much I run the AC.

Taxes are ~2500 a year. They're part of my mortgage payment.

House is about ~2200 sqft above grade. Basement, garage are both unfinished. Backyard was unfinished but I did that myself for pretty cheap. The area is good: close to schools, parks, work, etc. Backyard doesn't have a lot of privacy but can't get everything you want I guess. The house was 07 so since I bought it I've had to replace the fridge, and AC... hot water tank is likely next.

I believe the house was listed for around 500k. They were motivated to sell so I got around 30k off.

>>10841257
I don't know if I'd be buying a 400k house @ 60k salary. That seems like "house poor" lifestyle.

>>10841397
How much do you make in salary?
And are ya paying alone?
And how much savings did ya have?

>>10841429
My work salary is around ~150k. My side business is roughly ~50k. I have around 200k in savings right now. I pay alone... might change if my GF moves in with me but for the last three years it has been just me paying.

>>10841426
Well for some reason I remember hearing about virtually zero downpayment and very low loan rates, and tax breaks for first time home buyes.. so if I have 80k I can stretch that pretty hardcore.

Anyone know about this?

>>10841451
Ah. Much more than I have.

>>10841469
Go speak with a mortgage broker about your options. I personally would be very hesitant to buy a 400k house if I only made 60k. Trust me, you don't want to be house poor.

>>10841186
Real estate has been in a bubble for the past 80 years, 2008 wasn't even a correction in the grand scheme of things.
>1950 you could buy a house for the equivalent of $50,000
>Current year median home price is 218,000 MEDIAN. Anything that's within 100 miles of a city is going to be 2-3x more expensive.
The second housing market crash is going to happen in the next 10-15 years when all the boomers die off. All of these houses they bought for $5 and some pocket lint in the 60s and 70s will be vacant and prices will crash. The best part about this is that boomers will be able ruin the economy one more time form beyond the grave.

>>10841487
Yeah so don't buy a house now. Rent for 15 years for something that "might" happen.

You must live a real exciting life.

Imagine being on this forum and asking when you should be buying a house right at the top of the market when Bitcoin is 70% down and a couple of years to reward halving.

If you aren't just renting and slamming that capital into btc then what the fuck are you even doing here?

People are all the fucking same. Buying the top, selling the bottom, then reassuring themselves they made the right decision when they get into negative equity and start kissing their wounds "oh well it's for living in anyway at least I got my money in bricks and mortar not that bitcoin stuff, those guys made ten times the money but it could all come down any day now...any day..."

Absolute boomer

>>10841487
>>10841500
In fairness lads, I was trying to get opinions on the next housing market crash..

I imagine with how poor people even are today that less and less people can afford to buy a house.
I imagine the number has to be dropping dramatically, no?

>>10841186
>buying a wooden boomer box when 3d printed concrete houses are 5 years away, cost $10k to build and are literally fucking indestructible + made of recycled eco-friendly millennial-approved materials
Absolute top fucking kek.

>>10841513
Shut up retard. No one wants your shit coins.

>>10841257
Yeah Id knock off a couple hundered grand off that if younonly make 60k champ.

>>10841523
Lad.
This why I started the thread. I wanted to gather info like this.

>>10841523
Does the printer create land too?

>>10841186
Go somewhere middle America and buy lots of land if your job allows

Else just wait for the next downtrend in the housing. Market

Only land is valuable, houses are not

>>10841554
idiot /biz/ tards don't account for everything

>>10841534

Wow, look at those returns, even pricing the crash in I still made more money than the value of your entire shitty portfolio while risking a fraction of the capital.

Anyway enjoy ur crash you absolute down's syndrome. I'll be buying stocks when they are at a discount, again, at the bottom of the market, not the top.

Ah well, gonna make another shit load of money. Enjoy struggling with your boomer investments and retiring at 70. I'll be retired within 5 years, easy.

>>10841718
Lol sure thing bitcoin, good luck with unloading those heavy bags, solid year chart ya got there.
Loling at your life.

>>10841718
lmfao. i love this forum

I wouldn't go any higher than $300k and even that's pushing it. Also you have to factor in if something major breaks, would you be able to fix a big repair. If the market tanks in the next 10 years and your house is worth 1/2 of your loan, would that be a problem?

>>10841837
Appreciate it.

Anyone have any more thoughts on where the market as a whole is going and what time frame.

>>10841554
>millennials want my boomer burbs property, it's all about location location location - my pops told me so!
kkek

>>10841862
So I take it you can’t create land?

>>10841850
You should have your answer after about 30 mins of googling

>>10841901
There's cheap land everywhere
https://www.landcentury.com/under-1000-land-deals
>inb4 muh infrastructure
3d printed rain water collection, water filters/necessities amazon drone'd in, remote working, drone taxis, solar panels, 3d printed small AR-15 arsenal for home protection, etc.

>>10842092
mostly this

buy fucking land and stop falling for the house meme.

Automated cars are already ready to go and will be completly running in the next years which decreases the demand to live in the city

Flying drone services will even be more comfy, which are already a thing in dubai. Will be adopted in the next 5-10years

Cheap housing overall will be replaced by some 0815 3D printed versions.

No need to buy houses right now

>>10842092
So I have to live in buttfuck nowhere? Most people like to live in cities anon, especially those with money and intelligence.

>>10842092
lmfao. My 1.4 acres in the middle of the desert with no utilities near by.

>>10841487
No that's what the Mexicans and stuff are for. They keep coming in and breeding to take up the houses with FHA mortgages to keep the prices from dropping.

>>10842139
This guy gets it.

>>10842160
>>10842173
>t. proud wooden boomer box "owners"

>>10841740
me too :)

>>10842239
seriously? It’s a matter of fact that cities attract the wealthiest because of the amenities they possess. Close to universities, hospitals, schools, parks, beaches, world class cuisine, sporting installations, night life, etc etc etc.

And you think that moving into the middle of the desert will be preferable to those people? Some of us have friends and family anon. Good luck meeting your future partner in the middle of the desert though.

>>10842302
this
Good luck finding ladyboys among the cacti you retards.

>>10842302
>implying there won't be 3d printed cities and communes in these remote locations
>having this little foresight
kek what's it like being blind sided by tech year after year? you probably think bluetooth headphones are new.

>>10841735

Jesus christ dude, you literally could have bought ANY COIN in 2017 and made 100x what you made, with only a 1000 dollar investment. What the FUCK are you doing?

>>10842389
Why don’t you just say you want to be a cultist and live out your Waco dreams?

You can have that, just don’t be deluded into thinking the wealthy and intelligent will give up the amenities that cities possess for some random ass small town city in the middle of nowhere just because the only draw is cheap housing. We already have that in rural areas. Houses that cost less then 50k. Nobody fucking wants to live there regardless of the price. It doesn’t attract the upper class.