/biz/ - Business & Finance

whats a nice suicide pack
i'm a poorfag and kinda fall out rn, but I believe this is legit
checked XSN shilling on twi, who uses it?
seems like this token is rising and people use their new staking

>>26567139
considering its in a giant bubble with everything else and other things have better roi i dont see the point unless u want to settle down.

yes it is, but rent for a few years first

>>26567139
If you are young and not married then an appartment is the way to go. Houses are for families..

Let me ask my grandparents who are in their 90s who live in the same house they bought in 1960s, they say it’s worth it.


The median rental for a house in their area is $1000/week. They paid $12,000 for the house in the 1960s.

They’re pensioners who worked as factory workers, whose area had factories shut down and close, for richfags started developing in the area, now they’re surrounded by rich people now who made the area skyrocket.

The house is estimated to be worth a little over $3 million. $12k in 1960s to $3M in 2020 not bad?

They haven’t paid a mortgage/rent 40+ years, 40+ Years of not having to pay any large outstanding fee to have a house over ones head. Not a bad deal desu.

Their annual council rates are also discounted because they’re old and pensioners. There is no property tax on your primary residence here, just council rates. For them their council rates are about $7000. Discounted to $3300 or so due to their age.

No, wait for the crash (Buy the dip).
It's a massive bubble that will pop, wages aren't increasing, inflation, etc.
In the UK first time buyers earning average wage can't buy a house to live alone as it's simply unobtainable unless you have some good inheritance.
This will all come to a head one day, buying property now without the intention to rent it out is like buying the top.

>>26567371
Should mention the council rates or $7k (or $3.3k discounted for pensioners of their age) is annual total cost (1 year) remember now I said the weekly cost of rent for a house like theirs in their area is $1000 per WEEK. So council rates of ownership are literally non-factor.

>>26567139
Depends on your situation
Don't forget annual property tax

>>26567371
Good post. Biz don't like this kind of thinking though.
I just made 40k after selling a house i lived in for last 3 years.
So thats free rent and 40k bonus... no brainer.

>>26567139
Life is work.

>>26567139
buying a house is just renting from the state

>>26567371
>No property tax
>But this other fee that's actually worse than property tax
Lol

>>26567139
Don't try to make money off property anymore. That's a boomer meme. Buying a house used to be easy money, you get an old place, do it up, wait a couple of years then sell it again. Doesn't work like that anymore. If you're going to rent it out make sure the rent covers the mortgage repayments - generally rent is something like
>bought house for 300k
>rent pw is 300 (1200 per month)
>repayment is ??? - depends greatly on your interest rate
Interest rates are what will fuck with you. If you're a first time buyer you need to be very careful. Generally lenders won't allow you to rent the place out for a good interest rate but they don't exactly check up on you either. Having your own house is fine in terms of cost if you're living there because you just factor that into the budget, but if you're renting it out and living somewhere else that can be very stressful. Having a whole house is good for the space it gives you, you can separate your hobbies into different rooms and shit, its cozy and the responsibility of looking after it is all yours which is pretty cool.

The big plus is that you kind of get some of the money back when you sell it 10ish years down the road. With renting you get nothing in return, but it can save you some headaches.

>>26567585
$7,000 annual council tax on a $3,000,000+ To maintain ownership Is nothing when it costs $52,000 annually to rent the house.

If my grandparents rented their house instead of bought it, they would have been eventually forced to move out of the area.

Buying>renting on horizons over 15 or so years, so if you know you want to settle down in an area and can afford the mortgage financially there is no reason not to do so, unless you're willing to rent very cheaply and aggresively invest your money.
It all come down to where you are in life though, buying a property before age 30 is rarely a good idea.

>>26567670
I disagree.
Getting a cheap house ASAP is the smart move.
My mortgage is 50% the cost of rent in my area.
And as said, i just sold the house 3 years later for 40k more than I bought it.
I wish I bought the house when I was 21 as I'd have saved 80k in rent over 10 years and sold the house at a much larger proffit... probably 130k proffit.
Thats 210k I could have if I bought earlier.

If I inherit a house from my parents, is it worth keeping it long term? Or should I sell it quickly?

>>26567935
Is it in a city prime area? Keep it and rent it out and hold for life.

Is it in the middle of shit with barely any demand? Might aswell just sell it and invest elsewhere, will probably take awhile to sell though.

>>26567577
this, but you also have to do the maintenance yourself
also, checked

>>26567139
I think it's a pretty individual choice based on some different factors. It sounds like you don't like doing things like fixing things or working in your yard. You can mitigate that somewhat by buying a house with a smaller yard that's in good condition. If you live in an area with an overinflated market you might want to wait to buy. If buying is cheaper than rent, you might want to buy. Etc.
For me, it was a no brainer I live in the midwest and I'm basically picrel. I enjoy doing yardwork and fixing things. I bought a cheap and cosmetically disgusting house that was mechanically solid on a half acre lot. Cleaned it out on the day of closing enough to be habitable and then slowly rehabbed it while I was living in it. There's always something little to fix or do but I don't mind doing stuff like that. You might not, and that's ok too.

>>26567375
This

>>26567371
>$12k in 1960s to $3M in 2020 not bad?
Yes bad, that's worse than SP500 buy and hold lmao, that would've been 4.5 million right now (with div reinvestment obviously)

>>26568894
But they had a house to live in for 60+ years

>>26568894
>>26568923
And last I checked you can’t live in your index fund

>>26568923
Sure but you were talking about it as if it were an investment. Not losing against the SPX is about the minimum baseline for calling something a good investment.

>>26567139
its more expensive to rent since its money wasted and you dont own anything

I just gave my ex wife the first house I bought. It was a shitty old "fixer upper" and barely had any equity in it and it is so run down that only a house flipper would buy it. I definitely learned a lot from that first purchase. My plan now is to live with Mom for a year or two and save up money then get a condo to live in for a few years and then turn that condo into a rental property when I eventually buy a home to live in.

>>26568954
You can rent or pay your mortgage while getting better returns from your lump sum elsewhere.
Have to admit I used 1960 as starting date, if they actually bought the house in '68 or something then the house got better returns. Cutoff point seems to be '64.
>https://dqydj.com/sp-500-return-calculator/

>>26567139
If rent wasn’t so extortionate then buying a house wouldn’t be worth it.

>>26567371
Nice, how do I go back in the 60s?since I'm not a fucking boomer in a boomer market

>>26567139
Houses are not assets, it's a shit investment unless you plan on getting into renting real estate, and in that case you need millions to start with for it to be worth all the trouble. I would long shitcoins before I buy a house.

>>26567139
>no one fixes it for you

It's almost like learning to fix it yourself gives you a sense of satisfaction

>>26569148
>Houses are not assets
Literally untrue

>>26568976
>>26569017
Having a house, freezing your interest rate for up to 30 years, and not paying rent which increases rather than getting locked in are all part of the return on investment you retard.
You don't compare the rate of appreciation for a house to investing in the stock marker. You compare the cost of rent payments (none of which buys you anything beyond time spent in someone else's building) to the cost of a mortgage.
Also unlike with a house you don't get insurance for your stock market investments and nobody can guarantee you any specific amount of profit from it.
>>26567375
>buying property now without the intention to rent it out is like buying the top
It's not anywhere close to the top in the US anyway when you look at the impact interest rate and inflation has on what people pay for a mortgage taken out today vs. what they would pay over the lifetime of a mortgage taken our in almost any other prior year in recent history.
The fixed interest rates being where they are at historical all time lows make houses that seem more expensive based on price require less money and/or less time to pay off in reality. With a high interest rate like 10% you would pay for the same $200K house more than 3 times after a 30 year fixed mortgage is complete (assuming you waited the until 30 years to pay it off) for over $600K in real price compared to 2 or 3 percent where you would instead pay between an extra 60K to $100K for $260K to $300K in real price.
>>26567139
>plumbing, roofing, yardwork, fencing, foundation shit, and no one fixes it for you
Yard work isn't a real expense. That's just owning a lawnmower and pushing it over your front and back lawns during the warmer seasons every few weeks.
The rest like roofing is something that comes up once or twice before you die (don't fall for the scam mailers after every hail storm telling you your roof could be damaged) and even with redoing the entire roof that's ~$3K for basic asphalt on a typical 2 bedroom house.