This man speaks the truth. Do buy a home. Your mortgage will seem expensive at first, but in 10 years you will wonder how you could afford to live anywhere else!
This is exactly why I don't have a home yet. Sure I qualify for $410k home, but the payment would be double what I pay for rent. So like he pointed out, shave $100k off of that, and puts the payment at 140% of what I pay for rent, but I can't find a home in that price range. So I will keep renting for a while longer.
So my daughter's rent in 2016 was $1,600 for a 2 bedroom 2 bath apartment. She bought a 4 bedroom 2 bathroom house with a mortgage of $1,100. 8 years later her mortgage is $1,300 since the property value, insurance and taxes went up. That old apartment now rents for $2,500. Guess who is saving money on rent?
This man speaks the truth. Do buy a home. Your mortgage will seem expensive at first, but in 10 years you will wonder how you could afford to live anywhere else!
They say the right time to buy a house whenever you can afford to do so.
Cut 75-100 grand off is good advice and I’ve had to follow the same rule while house searching
This is exactly why I don't have a home yet. Sure I qualify for $410k home, but the payment would be double what I pay for rent.
So like he pointed out, shave $100k off of that, and puts the payment at 140% of what I pay for rent, but I can't find a home in that price range.
So I will keep renting for a while longer.
Then there's the problem that a 800sqf 2bedroom apartment is 900k...
Sorry.... I have a family ... and I want my own things .... I dont want to borrow someone's house my entire life
Don't even worry about buying a home, just rent and spend the extra savings on things that matter
What savings? My mortgage is $900, rent for a 3bd house is over 1800 in my area.
@@psychemike sure give your 3% mortgage rate to somebody thats looking to rent
@@blipblop92 why would I do that? I’m saving money by not renting?
@@psychemike right now renting is much cheaper than buying
So my daughter's rent in 2016 was $1,600 for a 2 bedroom 2 bath apartment. She bought a 4 bedroom 2 bathroom house with a mortgage of $1,100. 8 years later her mortgage is $1,300 since the property value, insurance and taxes went up. That old apartment now rents for $2,500. Guess who is saving money on rent?
I'm going to buy a tiny home. I live in LA and want to stay here. So I'll just own less stuff.