I am trying to make a decision. curious about your thoughts on my personal situation, and what you think in general. or your own stories if you have anything relevant…
I am trying to make a decision. curious about your thoughts on my personal situation, and what you think in general. or your own stories if you have anything relevant…
Rent a cheap, shitty place
Save the money until you can afford to buy your own home.
Ah, I don’t think I will ever be able to afford a house. My income isn’t likely to increase by much given my career (80k might be my max, 100k is possible in a decade or two or if I get a PhD). Houses average around 800k. Not to mention the risk of fire, in the region, it doesn’t seem like a sound investment for someone at my income.
So for me, my financial goals are about building up retirement fund and being able to afford a better life (my dreams are to pay for fluff/fold laundry because I have ADHD and constantly struggle keeping up, be able to afford to travel without dipping into emergency fund, have my car paid off, be able to afford car repairs without dipping into emergency fund 😭. just basic stability.) I don’t plan on having children, and honestly don’t particularly care about marriage and prefer a lifestyle of a robust community life.
So what good is a house for me? I have read all the financial advice recommending it but … that seems to apply more to people with families, or higher incomes where saving to buy a house requires less sacrifice from daily life. It doesn’t seem like a good use of my money. Scrimping for twenty years, only to still pay off a mortgage for thirty years, and then die.
Sounds like you’re just making excuses for your lack of willpower.
If you’re able to pay for rent, you’re able to afford paying back a loan.
Imagine building a retirement fund and then pissing it half of it away because you’re still renting lmao.
May not be true depending on where OP lives. There are a lot of rent vs buy calculators out there, and home prices are so expensive in some areas that it’s actually better financially to rent instead of own, and to invest the difference in payments. For example that’s the case where I live in San Francisco - investing the difference between rent payments and mortgage payments nets me more in the long run, even considering housing value appreciation.
Edit: this of course doesn’t apply to investment properties, where you get the value of the asset + appreciation, but also get rental payments.
yup SF bay area. buying a house is only a good idea if your parents are funding the down payment.
List of things you can do if houses are too expensive where you live:
Improve your life by moving to a shithole rural area where houses are cheap?
Better than living in a shithole urban area where the cheapest rent is 2/3rds of your income.
Lack of willpower? Lmao where is that even coming from? Sounds like you just wanted to bring up your talking point?
I work a full-time job and am doing very well for my field given my years of experience … it’s just not a high paying job, because I work for an environmental nonprofit and the work itself is important to me. Are you just saying that because my dream is to not do laundry? What is the point of having money if you can’t use it to save yourself hours of labor? And a couple hundred dollars a month on laundry would not make or break affording a house, anyway…
I can’t pay for a loan until I can afford a down payment. You need money for that.
You are clearly not a serious person, and I will lot be taking any of your advice seriously. You are not willing to seriously engage in the reality of my situation, and would prefer to live in a fantasy land where people are wealthy/poor due to “laziness” and not … exploitation. Because that is what is happening. I have a moral conscious and am being exploited by the nonprofit-industrial complex, being underpaid to do impactful work during a climate emergency.
“you are not a serious person”, says the guy thinking pissing away their money in rent because they are too lazy to do laundry is a good tradeoff lmao.
You’ll be funding someone else’s property all your life like a servant just to save 15 minutes of folding clothes every week.
Oh shit, must have forgot that $200/month could buy me a house. Damn. Also don’t see where I mentioned that as anything other than an aspirational splurge. Also … it takes me way longer than 15 min to do laundry, esp because I have ADHD and a hard time keeping track of timing loads, and folding usually takes up to an hour. But I realize you’re too fucking dumb to know what a disability is.
Not to mention… what is the point of owning a house I’ll be paying my mortgage off on until I die? I’m gonna bring the house to the grave?
You’re renting, you can literally grab a truck and move to a cheaper housing market with all your belongings overnight.
If you can pay rent, you can pay a mortgage.
At least the mortgage is benefiting you.
You can’t pay a mortgage until you have a down payment … and even with a down payment…
Do you know what house I could afford for that much in my area? A house in a trailer park where I would still be paying rent.
You’re acting all superior but you literally can’t handle basic math.
And you’re saying I could just move to another area … I don’t want to. As an trans person, I will simply not be leaving. It is very easy to access healthcare and services in my area. And my quality of life would tank even if I wasn’t trans … my job is tied to living where I do, most of my community is here… anywhere I could actually afford would not be a pleasant place to live. But yeah, if you want to own a home in bumfuck Idaho, sure. I won’t be, because I think enjoying my life is more important than a deed.
“my quality of life would tank”, yet here you are pissing away half your income in rent lmao. Bet you think living in the city is amazing, while chugging 4 bottles if antidepressants a day because the last time your body breathed clean air was 30 years ago and the only tree in your neighborhood is fenced off to prevent homeless people from getting some shade.
Negative IQ all the way down the line. Stay miserable.