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Does anyone have anything to celebrate today? 🎉
Hi guys,
Anyone from EY GDS KOCHI?
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Atlanta vs Savannah vs Tampa?
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Coach
I’d always recommend buying over renting. Regardless of the interest rate, you’ll build equity and have an asset that appreciates in the long run. Renting on the other hand, is just you building someone else’s equity. A little more fun with extra savings from renting isn’t ever worth it.
This is such a superficial analysis of the pros and cons of owning vs renting I don’t even know where to start
What happens to your building equity if the market flatlines or declines for the next 3-5 years? Not saying it will but it’s not out of the question.
What if you need to move in the next few years for unforeseen family or job related reasons?
What if you actually invest the difference in monthly cost? What if you decide to take into account the often massive difference in maintenance and upkeep?
There are PLENTY of situations where it makes more sense to rent
Mentor
Zero down payment is a trap and a very bad financial decision. It will make your financial situation way worse than it should be
If you can’t manage a down payment then rent
I have several zero or low down payment mortgages and they were the best financial decisions I’ve ever made….
Do you love the house? If so, I'd suggest buying instead of renting. You cannot do too much like traveling and stuff with an infant anyways.
from a pure investment point of view, renting is better than buying, historically the stock market outperforms housing, so rent + stocks is better than buy + mortgage + property tax + whatever, long term
people buy because of emotions, not based on math
I'd love to see this math on this.
As A Wholesale Lender , i can recommend you to buy. You can always refinance down the road. We are expecting another rate hike soon and inventory is going fasted based on my conversations with my realtor partners in the Phoenix/chandler/Gilbert area.
New 1% down program was just launched and we are seeing alot of new buyers hitting the market.
At the end of the day, the interest rate you get is nothing compared to paying 2k to 3k a month in rent.
I would certainly buy however I might come down a bit on the price some but that’s just me.
The main question is whether you want to be there for at least 5 years. If you buy your options to move for a better job or promotion (or any reason) will be limited, especially putting 0% down. You’ll be under water for a couple of years at least before you could sell and break even due to sellers costs.
How is your take home $9k. I make $160k and my take home is precisely $7200, no exemptions on my W2, and I get nothing back on taxes.
oh it’s different filing status, missed that, yeah filing status makes a big difference, not just the marginal tax rate on the 10k difference
Would this be the first time you buy a home? You would be surprised all the programs for first time homebuyers. Some pay off part of med school, other companies give money towards down payment to live near your work. Google first time home buyer grants in your area, you would be surprised.