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/biz/ - Business & Finance

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17290652 No.17290652 [Reply] [Original] [archived.moe]

All my friends who own houses had them paid for by their parents

>> No.17290662

Link will pay for both your houses anon.

>> No.17290689

stop bragging about how many friends you have.

>> No.17290704

>brother brags about how well he's doing because he owns a house
>got it at like 40% market value on top of being given a large sum for a deposit on a mortgage by the owner

>> No.17290718

Imagine being concerned about things you cant change

>> No.17290733

You could destroy them

>> No.17290736
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>> No.17290746

>"It's cool, Anon. In 25 years it'll all be mine. Mortgage paid off, my dream, Anon. I figure once the kids go off to college we can downsize, and do it again."

>> No.17290762

what are these "friends" and "parents" that you speak of?

>> No.17290837

>be me post 2008 crash
>see cheap houses in local town
>working only a couple years, no savings
>ask big family if we can pool money to buy to rent it out
>maybe in future one of us needs a house, may be useful. Its really cheap
>no anon, you can go for it if you want
>couple years later younger brother has kid
>house prices now returning to normal
>have to scrape money together for deposit
>brother has house, with parents financial help
>brother gets good job through gf parents to look after new senpai
>be me
>still saving for first deposit after some setbacks

>> No.17290846

Ohhh woe is fuckin' u innit?

>> No.17291022


All you need is 5% down, plus 2-3% for closing costs. Keep the payments under 25% of gross income if possible. Sometimes it's fine to stretch, especially if you'll get some above-average raises.

If you're in SF or NYC.. doesn't make sense to buy unless you're making over $200k/year. Invest the money instead.

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