A friend was telling me that my rent is getting kind of high even though I have no trouble paying it(1200 USD a month). I am 35 and I have never lived in a house my whole life. I grew up in apartments and even now I live in a apartment. He said my rent is getting close to being that of basically a mortgage payment. The one thing I am concerned about is that I am a very minimal guy. If I got a house, there would definitely be empty rooms. I also don't like all the weird extra shit that comes with having a home like roof problems, GUTTERS, and fucking HVAC issues or boilers / oil issues. I am also single with no family. If I had a girlfriend or wife then yeah I would think more on getting a house. But I am single. It seems insanely pointless for me to get a house but maybe I am the full retard pissing money away on rent apparently. I am not even a very handy guy so any fixing up the house would need, I would probably have to pay out the ass to have done.
Whats your opinion? When is it a good idea to get a house if you can afford it?
If you can afford it, do it. There are programs for first time home buyers that cover the downpayment for you also. If you live in the same place for years you will build up equity, so you're making passive income. You can do other passive income methods during the time to really set something nice up for you and any future people who will be in your life. I think you should do it. You might spend a bit more a year on property taxes but it really isn't a big deal. Fixing stuff is easier than you think. If you don't want a detatched style house you can always get a condo or townhome, but these will come with HOA fees, which aren't too much either.
>>33302031I think I am most interested in condo's. Mostly because I don't really care for yard work and snow removal and roof shit which I think the HOA takes care of or whatever right? Condos are you basically own the inside but not the outside? I guess I have to think more on it. I don't even know what equity really is.
>>33302083Yes, you're right. Equity is when your property's value goes up and that extra money that has been accrued is yours to take after selling the property, basically. You'll be making money for not doing anything but keeping your place nice.
>>33301899 (OP)You could ask ChatGPT to calculate how much you would have after 10 years if you bought a house vs if you rented and invested all your other money in index funds instead. I actually came out ahead with renting.
>>33302117I am mostly uncomfortable by how fucked up some houses are. I live in a older part of the USA(Northeast coast). It seems like all the houses around here are old as fuck with fucked up issues.
>>33302148Before you can even be able to take the mortgage loan from the bank they require you to have a home inspector inspect the property for anything wrong with it. You won't have to worry about buying a shitty house, just spending 500 bucks on an inspection that doesn't pass and needing to find a new place. They give you a whole ass packet of everything they check and what they say
With your situation it sounds like a horrible idea
>>33301899 (OP)Women who know what is good will look for a guy with a house. Most repair, a cave man can do. Obtaining one can provide rental income when you go back to apartments.
>>33301899 (OP)It's 1200/months.
I remember when my home town had a building with luxury condos that were 1200CAD/month and a basic 3½ was about 400CAD.
Now 1200CAD is the bare minimum for a 1½ and a fucking student room without toilet is over 400 CAD.
Because Trudeau let in too many fucking people amd the Chinese moguls are beatimg us at capitalism.
>>33301899 (OP)Every dollar paid in rent is lost, every* dollar paid in mortgage becomes yours, don't pay someone else's mortgage. Sounds like you prefer apartments, buy an apartment
