Is it better to put down as much as possible for a house or as little as possible? How hard is it to refinance?

If you don't pay with 100% cash you're a faggot and should rope

You should only buy mortgages if you know how the equity game is played. Only buy in up and coming areas. GTFO after 3 years living in it to dodge the capital gains tax liability. Make sure your credit is solid to get as low of an interest rate as possible.

Oh, and make ABSOLUTE sure your house doesn't have maintenance issues (get an extremely good inspector before buying that can say point out when an ac unit is about to die), maintenance and yard menaces (trees mostly) will fuck you harder financially than anything ever. I know, I used to be in a mortgage myself.

>>60591826
Wouldn't that money be better off invested?

>>60591820 (OP)
Cute house but no yard & HOA fees? Pass.

Put down what makes sense to you. What rate can you get? Can you beat that in stocks or elsewhere? Can you afford the monthly payments?

I think it's always good to put as little down as possible assuming you can comfortably make payments, unless your rate is so high you are not going to be able to beat it putting your money to work elsewhere. But even then it's questionable as money locked in house equity is not accessible easily (without another, even higher rate loan).

Houses are expensive now, though. I wouldn't be surprised to see prices come down 30%+ from here.

>>60591883
>No yard
?

>>60591902
>literally a yard for ants
Bro I mean one your kids can run around on and you can build a swing set and actually do stuff. A deck doesn't count as yard, btw.

>>60591826
Calm down, Moshe

>>60591902
750k to live like this?

>americans pay a fortune for houses that are built like this

>>60591995
>europoors pay even more to live in a crammed moldy apartment with no A/C

>>60591958
Comfy? The basement isn't included in the square footage either
>HOA handles all landscaping, snow removal for driveway and front steps

>>60591995
You don't even live in a house.

>>60591995
No house is without issues. I have a home built 80 years ago with a stone foundation and old wood which is solid af but it has plenty of problems. Newer homes will last maybe 50-60 years before they start basically falling apart but you'll likely get 20-30 years out of them almost problem free if you had a good builder. My in-laws have an all stone home that is built like a tank but it's now about 35 years old and they have lots of issues popping up and everything is way more expensive to fix because replacing expensive materials is.. expensive.

>>60592011
>HOA
ngmi

>>60592028
HOAs keep property values up. Very popular in red states to keep city trash like yourself out

>>60592052
Unless it's an apartment or a gated community an HOA doesn't make any sense. This looks like some developer bought one property knocked it down and built 4 and now decided he gets to make passive income indefinitely off them. That's just getting robbed. There's not even any yard to maintain, no pool or gym or anything I can see. What are you paying HOA fees for? The pleasure of not getting a house on a full lot?

I can never pick a right answer so I just go with 10%. Doesn't seem like there is one desu, it sucks to have money stuck in a house and I'm more inclined to take on the higher payment.

>>60592067
>Unless it's an apartment or a gated community an HOA doesn't make any sense
Tell that to every house in Florida, Texas, and Tennessee

>>60592119
I live in one of those states and nobody pays HOA fees other than what I just said where I live. I don't understand the point of an HOA if you are doing all your own home maintenance and get no amenities.

>>60592126

It's the same reason Costco has a small basic fee. It keeps a certain bottom 20% out.

>>60592126
>I live in one of those states and nobody pays HOA
Stay out of our neighborhood then brownie kek

let's say i had 500k in cash/investments, non-retirement so it's fairly liquid if i wanna buy a house, but the house i wanna buy is more around 600-700k. Assuming i put down at least 20%, are the remainder of the investments (say $380-$340k) factored into my income? basically, with how interest rates are, i would have to make something retarded like $15k/mo to follow the 28% rule to qualify for the PITI payment, so it seems. would it be better to up the down payment to say 40 or 50%? I know refinancing is an option down the road, but if i want to buy today i'm still looking at a 6.5% rate no matter what, and who knows for how long i'll be dating that rate.

>>60592052
Im dubious on appreciation with HOA communities. it seems like you may actually lose money with HOA fees eating away your appreciation, location location location seems to be the master rule to follow

>>60592144

Most HOA communities charge like $25-50 they aren't the $200+ retard communities reddit likes to whine about.

>>60592148

the listings I look at have fees at $400-500/month. An HOA fee under $100 is unheard of in the markets i'm looking to buy

>>60592163

Where is that? I look at TN/SC/FL/TX and it's usually right around $50 and includes basic services, sometimes a pool and park.

>>60592167

Socal

>>60592180

Well CA is the worst housing market in the entire country after all

>>60592186

it's the price you pay to be far far away from swedish people

>>60591820 (OP)
Put as little down as possible. Say you have 300k saved for a home. Put 5% down, put the money in spyi and the mortgage is covered and you get both. Also pull the equity as frequently as possible when rates are favorable to invest it...not spend it.

>>60592484

how is investment income factored into what you can afford? how is the bank going to make sure you're not gonna take your 300k nest egg invested into the S&P earning 8%APY and dump it all into GME?

>>60592506
>dump it all into GME?
They can't and that's why (((they))) mostly care about how much you earn from a W2 job and how much you put down.
>bbb-but my $1milli dogebonkniggercoin
Would be kind of neat to secure a house with some other investment that they custody. Like those bitcoin defi loans.

20%, shrimple as

>>60592144
The hoas are so expensive in boca Raton that you have houses that would be going for 2m in other areas going for 300k or 400k. The fees price out all mortgage buyers

>>60592706
Why if you can put down 0?

put as much as possible down
mortages are a scam, you want as small and short of one as possible

>>60591820 (OP)
20% down is standard. refinancing is trivial and routine.

>>60592738
Its a hedge against retard behavior

>>60591849
depends on your interest rate innit?

>>60591820 (OP)
hilarious to think that some top 20th percentile wageslaves worked their asses off to have a yard that's 50% asphalt and 50% fucked up shitty hills, with a house that's 50 feet away from their neighbor's house.

>>60592771
Who is getting an interest rate over 12% kiddo? Do you?

>>60592785
they have a driveway and yard so they can buy an EV and pay for lawn care and more importantly tell their coworkers about it.

>>60592804
i like like 30 mins away from that address. there are so many other places i would rather live (also with ~0 niggers or spics) than conshy.

>>60591820 (OP)
> 3.5 baths
what?

>>60591820 (OP)
There is no universally right answer to your question.

I bought my first house with 3% down as a 1st time buyer in 2005. It doubled in value in 3 years and I refinanced (easy as fuck if you have the value) with a cash out to put 5% on my 2nd house in 2008.

Then housing crash happened and...well nothing. My original house value fell from $435k to $190 (about what I paid for it) but I kept renting it out and paying my mortgage. My 2nd house went from $305 to like $200 but just kept paying the mortgage.

By 2013, original house was back around $250 and same with 2nd. By 2021, I refied both for 3% mortgages. Now house #1 is worth about $500 and I owe $106. House #2 is worth $650 and I owe <$100k.

I am selling house #1 and building a triplex on a vacant lot I own (bought for $21k in 2011) It will probably cost $750-800 and I plan to use most of the ~$400 from House #1 proceeds to keep the mortgage low enough to have positive cash flow on the triplex.

So - on first houses, high leverage was good, as I had better income and less cash. On the new one, less leverage is good bc I have more cash and want income.
>>60591835
the 3 year thing only matters if it is a rental. you need to live in a property 2 out of the previous three years to avoid the capital gains.
ex: I sell house #1 and I pay capital gains on the proceeds-costs; I sell house #2 and I owe no capital gains

>>60592815
Where do you live anon?

>>60592835
prestigious ROYERSFORD but im a rentoid

>>60592825
One bath for when you're only half dirty

>>60592840
Never been over there, how is it? I know a couple that just bought in Spring City

>>60592892
it's not too bad. fewer blacks and puerto ricans than spring city.

What are your guys thoughts on buying fixer uppers for the lot? i was thinking about the possibility of demolishing a shithole and building my dream home.

>>60592895
Yeah I have no idea why they bought there. They both make over 200k. Its in the woods and their kids go to private school I guess but still

>>60592758
>Life doesn't get much better than this

>>60592901
>both make over 200k
wtf do they do for work

>>60592919
Wife is a scrum master for meta or something wild and he's high up at Vanguard. She has her masters and he went to Columbia and is getting his. Seems exhausting honestly

I'm planning on buying a townhouse soon but not sure if I should pull the trigger.
>places have come down about ~10% from their covid highs
>city is less urban, not as overpriced as coastal cities so realtor tells me it wont crash too hard if at all
>plan to hold for 20 years at least so no real reason to worry about a blip here or there
>realtor talking about price moves in market is always talking about no more than 2% here or there - a "big move" in the market is like 4%.

>>60592898
just buy a lot. Demo is stupid expensive and in most places, requires so much permiting that you will waste a lot of time.

>>60592758
wrong

20% used to be standard 35 years ago.
First time buyers are usually 3-10%

2nd home buyers can do 5-10%, also, but usually have enough equity that it doesn't matter so put in a few more coin to get a better rate/avoid mortgage insurance

>>60592934
if you are buying a place to live for the long term, yes you should buy.

You are correct that the blips don't matter. You should gain a lot of equity over 20 years, but it could also get eaten up by real estate taxes and repairs (who knows??)

The main thing is, your mortgage will stay the same throughout, so like you rent now for $1600 and buy for $2000/month

Rent goes up 5% a year so in 5 years, you have no equity and are paying more than $2000/month, but your mortgage stays at $2000 (insurance and taxes may go up, but mortgage stays the same)

After 10 years, as a renter, you still have no equity, but are paying $2600/month rent

After 20 years, you are paying $4250/month in rent and have no equity. but by buying, you are probably only paying $2500/mo including insurance and taxes and have somewhere between $250,000 and $800,000 in equity.

>>60592898
Ive made a couple low balls to degenerate property that was basically the value of the land minus the cost for demo and nobody ever took one

Its probably easier to just get a lot cause paying a premium for a house you're just gonna teardown is stupid imo, maybe if you are loaded and don't care

>>60591820 (OP)
you cannot refinance if you have negative equity on your mortgage. so if you put under 5% down and your value drops because house prices are currently falling then you will owe more than what your house is worth AND youll have a 6%+ interest rate.

>>60592011
>Slips on the cheap hardwood and catches self against the wall, only to cave it in

>90% of people locked out of the market
>just get a mortgage bro

>>60592833
sounds shitty desu