>Look to buy a house that is 300k.
>Have 100K as downpayment.
>On a 15 year loan at 5.9% I would be paying $369,346.96 of 180 payments.
>This after I pay 100k as a downpayment.
>Not even including shit like maintenance and upkeep that could happen over a 15 year period.

Call me a brainlet if I messed up in my calculations but how do people actually buy houses like this?

At this point its making sense to me to just put that 100K into BTC or SP500 and just rent long-term.

>>60562334 (OP)
u forgot to include property tax lmfao

>>60562334 (OP)
I agree houses are overpriced but do you know how Inflation works?

>>60562334 (OP)
And that’s only because you’re smart enough to do the 15 year and save yourself hundreds of thousands in interest. Most goy cattle opt for the 30

>>60562334 (OP)
After 15 years, how much is it worth vs how much you spent to buy it?

>>60562339
Fuck your right, that shit too.

How the fuck are people supposed to build wealth with payments like this!?

Is owning a house nowadays a meme!?

>>60562334 (OP)
Let's say you pay 450k with repairs, landlord tip you'd have to pay already subtracted.
Then you'd get 600k. If you did buy in 2000 and sold in 2015, you'd have been better off than going into the stock market.
Stocks have been going up since 2010, it's high time for a lost decade again.

And one important thing: You can not rent in a healthy neighborhood, so you will have to include having cancer or a stroke in that calculation.

>>60562345
>inflation
Which is why I commented on buying BTC or buying the SP500.

>>60562334 (OP)
I ll own something and you ll be sad!

>>60562366
Thats the question, will I by lucky to break even on the house after 15 years?

If I wanted to sell that house after 15 years will there be a normie who is willing to pay ATLEAST $469,346.96 on that house so I can break even.

>>60562390
Most likely, yeah, unless your neighborhood got taken over by browns.
My house went from $150k to $350k tax assessed value in ten years, with comps in my area selling around that price.

>>60562334 (OP)
Damn you, I want to pay 300k for a 300k house, move in and have a nice life with no repairs or extra expense for 10 years!

>>60562390
How much does rent increase in 15 years? if you pay $2,000 per month rent starting now, imagine how much money you're losing after 15 years.

>>60562371
>You can not rent in a healthy neighborhood

I mean, as a single, healthy guy, I don't mind living in an apartment.

The tricky part would be if I wanted to raise a family, a decent house in a good school district in my city has houses going for ATLEAST 400k.

>>60562411
>Most likely, yeah,
>likely

In my small city I would have to bet that the person who buys my house is coming from out of state, because the locals here sure won't be able to afford that price.

>>60562417
Fair point, but I wouldn't have to worry about fixing shit and dealing with hoa shit. Plus I have the benefits of shopping for cheaper rentals and mobility.

>>60562449
If you're renting, you're basically living under HOA rules. Fixing things and adding upgrades adds value to your home so you're not really losing money if you have something fixed.

>>60562334 (OP)
I write the entire interest off on my taxes, so I get to make roughly $300k tax free that I'm paying to the bank

also inflation. By the time I get done paying in 20 years, $300k will be poverty tier income and my payment of $1400 will be close to the hourly minimum wage.

>>60562368
>How the fuck are people supposed to build wealth with payments like this!?

>>60562560
Your wage growth will not keep pace with inflation anon

>>60562560
How do you do that?
Do you buy your house under an LLC?

>>60562334 (OP)
Interest is super high right now but generally speaking you would outperform the interest payments if you have 3% mortgage rate its a form of leverage

>>60562579
when I was a kid my gf's parents had a mortgage payment of $200 per month and made $20 per hour each. They had to work 5 hours per month each to pay their mortgage.

just a thought.

I currently make about $150/hour and have to work something less than 10 hours per month to pay my mortgage.

>>60562583
what do you mean?

mortgage interest is tax deductible. So are insurance and taxes and home repairs

basically anything you spend on a house aside from the actual principle is deductible, right?

>>60562334 (OP)
I'm thinking the same thing.
Average houses in my area are 700k.
I rent a 2bedroom apartment for 1700/mo, rent controlled capped at 2%/year.
There's just no way financially that it makes sense to buy. It only makes sense for a quality of life improvement but there's a huge cost for it.

>>60562368
>How the fuck are people supposed to build wealth with payments like this!?
>Is owning a house nowadays a meme!?
home"owners" will own nothing and be happy
BTC maxis will simply own

>>60562636
I did not know that, I will have to look more into this....

>>60562653
Shit thats grim.

At this point just dumping money into CDs and the stock market seems to make more sense.

Home-owning seems like a 2-person endeavor at the very least these days

I don’t actually pay my mortgages. My tenants do. Yes each house costs like $300k with another $300k in interest over the life of the loan. That is a lot of money I’m handing over to lenders. But as long as each house profits $500 per month or more, idgaf. I’ve already made it.

>>60562668
Ironically the people in my life that shill buying a house the most are women.

>Oh anon how are you ever going to attract a girl if you don't own your own home

I have to remind them that you don't actually "own" your home, the bank does until you pay them off.

>>60562695
women have a strong urge to trap a guy in one place to raise their kids. Home ownership is virtually guaranteeing you won't run off at the first sign of trouble because it costs too much to leave. It also signals you can afford to support a woman and some kids all by yourself.

>>60562334 (OP)
>>60562695
make more money or buy less house? why do you think they should just back you with 200K. and even when you pay off the note you dont get the land. you can do whatever you want legally to it but quit paying the property taxes and you're gone

>>60562339
its part of the mortgage for you unknowing /biz/raelis

>>60562710
>make more money or buy less house?

Nigger, the median house hold income in my city is ~83k.

My base salary as a single nigga is just shy of 150k.

My boomer dad who is a manager at fortune 500 company tells me that I surpassed his boomer employees on the payscale and I'm 31.

Meanwhile property costs on LITERALLY EVERYTHING and interest rates have sky-rocketed since covid due to all the transplants moving to this city.

>its part of the mortgage for you unknowing /biz/raelis

I just checked the mortgage calculator I used, your right. Thanks for the correction.

>>60562700
Yeah, I figured as much, ironically the realtor I toured houses with hinted the fact that he got married after he told his now wife he has a house now kek.

Though with women I get the feeling that buying a house is more emotional than anything, which is why I think female home-ownership surpassed male-ownership when interest rates reach six percent a few years ago top kek.

>>60562694
Do you find this strategy risky?

What if a tenant leaves or trashes your place?

>>60562368
Anon… satan wills it, you will own nothing and be happy. It’s inevitable, eventually millions in America alone will be forced out of their homes by failure to pay tax or some bullshit commie law. Airbnb will cease even real estate whales owning 200+ houses in major cities. The dollar being absolutely backed by nothing for a couple years now will absolutely implode upon itself. All your money is as real as bitcoin since they artificially generate your wealth using digits on a screen. The economy is toast bro… by a lien like a shitty… shitty… human bean and get their house DIRT cheap. Either way you will lose it anyways in the next 10 years.

>>60562368
Yes anon they took the last best vehicle for future financial security and jewed the fuck out of it. And none of the existing homeowners cared because they're boomers and thought
>fuck you got mine

>>60562334 (OP)
>puts more than 3% down
>does not extend the pay period to 30 years

0/2

>buy house
>pay even more than closing price through interest
>rent
>pay someone else's mortgage along with the interest but never have an asset to show for it
I don't believe there are people who don't understand this. You're just pretending to be retarded.

>>60562368
>>60562334 (OP)
Owning a house is a cost-effective expense. It's a NICE way to ENJOY $2 million $5 million $10 million, whatever.

It's not a great way to build wealth unless you get super lucky. It's helpful if you're super retarded and couldn't save money unless you were threatened with living out on the street so you make mortgage payments.

>>60562695
>please mr landlord extend my lease i dont want to have to pack up and move
>you're raising my rent HOW MUCH? i can't afford that!
>hey i got a job offer in another town and need to move, can i end my lease early? i can't? but then i can't move
>yes i hung those photos on the wall... what do you mean it's coming out of my security deposit? thats insane!
>cleaning fees?! i left the place spotless! i need that security deposit for my moving costs!

>>60562334 (OP)
Most calculators come out slightly ahead if you rent and invest in S&P instead of buying.

If you rent and buy BTC it will absolutely blow buying out of the water.

Dummy

>>60562390
gross

>>60562694
>I don’t actually pay my mortgages. My tenants do.

and we get what would be their tax deductions

being a landlord is fucking great

lower those rates powell, pump my bags

It's a safe play - at the rate they print money pretty much every asset is going to appreciate faster than %6. Could you get better returns with BTC or ETFs? Yes likely.

If you're handy, maybe you could do what I did. I bought a SFH with an unfinished basement for 200k. 4 years later it's worth 350k (before these renos). I'm turning the basement into an apartment that'll rent for $1400/month which will pay the mortgage/property taxes/insurance. Upstairs rent will go into my pocket when I move.

yeah interest sucks, but what are you gonna do about it besides buy points. what I can't stand are the faggots who bought at historically unprecedented rates in like 2013 and now think they're financial geniuses because they did literally nothing except be born earlier purely by chance. They got lucky but think the 300% appreciation on their house was just their own hard work and shrewdness.

Anyways I just bought a 3 bed 2 bath for 300k. Monthly payment is like $2500, a bit steep at my monthly net income. But I rented out two of the bedrooms and when I eventually move for work, I'll either rent out the master bedroom or rent the entire house. I'll probably be taking a loss but I'm still building equity and holding out for rates to go down so I can refinance.
Also considering parking a trailer in front and renting that out too, but I don't know if I want the kind of person who can only afford a trailer living so close to my house.

>$100k
I never understood how people have these insane down payments saved up. Where the fuck were you living before that you could save this much?

>>60562368
>How the fuck are people supposed to build wealth with payments like this!?
$100k downpayment
other $500k in stocks, bitcoin, etc.

>>60562334 (OP)
At 5.9 it's shit cause the cap rate is often around that.
But if you're a yuro at the moment you can get it for 2 percent and you do get somewhat leveraged 8% yield.

>>60562339
No, property tax and insurance are built into the amortization payments.

>>60562375
>>60562390
My dick wants the sex all of a sudden. Why?

>>60562334 (OP)
I would say you are correct except the house would be worth like 1.5 million after 15 years because number go up.

>>60562375
>>60562390
>>60562434
>>60562449
>>60562686
>>60562695
>>60562727
>>60562780
>>60562827
I love women so much it's unreal