Want to know if it’s worth buying a house somewhere even though I don’t want to stay stuck there forever. Is it still worth buying? I do want to own a little home one day.

like
Posting as :
works at
You are currently posting as works at

3 years is the typical time frame where it makes economic sense to buy instead of rent.

like

If you can afford to buy, do it, you can always rent it or sell it or refi down the road. The housing shortage is real…if you buy you will always have an option.

likehelpful

That's why we bought a vacation house and then just rent a small place near work.

like

☝️I did this too for many years. I liked it because my life was unstable but I always had a place that felt like my home. I leave it heated year round, hope for the best when I’m not around. Neighbors check on it for me. Vacation house ended up my primary during Covid. In fact I kinda expanded it. Now I have 4 places as vacation homes 3 are under property management.

like

I have really struggled with being tied down by a house. As someone who is still in a stage when I want to explore and live in different places, it’s made planning much more difficult and feels a little suffocating.

like

Maybe.

Depends on your financial situation, your projected timeline of moving somewhere else, the future performance of the real estate market in your neighborhood, what you could do with the money otherwise, etc… very hard to make a universal decision with so little known information.

like

That maybe is still right. 5-10 years is plenty of time and you could sell after that or rent it out. But how do rents and prices appreciate in your area? If you don't buy now, may prices shoot up on you? Lots of factors to consider. RE is very local and behaves differently in different places.

Home ownership is one of the best wealth building investments you can make. It can be wise to rent for a year when you move to a new city and are still getting to know the local area, but after that, you should buy something if you can at all afford it. I talk to a lot of people who are stuck as lifetime renters at the mercy of landlords who raise rents and won’t do repairs. It’s tempting to spend your money on “traveling and having experiences” but being forced to live in a crappy rental is not the best experience. In general, wages do not keep pace with housing costs. In Central Florida home prices have gone up 20-40% in the last 5 years but rents have DOUBLED in the same span. You used to be able to rent a 3/2 house in a nice neighborhood for $1200 in Orlando, now a studio apartment rents for $1800. House hacking is a great option to have the best of both worlds if you handle the legal aspects properly.

like

I don’t think the house I want to buy now will go up much in value. It’s just all about the life you want to live.

Urban areas appreciate more than rural. See what the appreciation has been in the area you are interested in moving. Statistics are available. Inflation is still high. You will undoubtedly put money into any place you buy. Will you remodel or update appliances? Adding a fence or relandscaping? All this goes into your sunk cost. Figure add improvements - add commission to sell - and you’ll figure out the numbers. Have owned many houses. Got lucky a few times in high growth areas - but to weather ups and downs I’d suggest 8-10 yr horizon. Economy can turn on a dime and a hit market can last few months to a year - then it’s oversold.

*laughs in NW Detroit*

Related Posts

What are the best investment books or authors for beginners? What are the best podcasts, YouTube channels or bloggers to follow? What are your favorite stock trading platforms? And if you finally have six figures cash ready to invest, what's the best place to start? Which broker / financial advisor would you recommend? This is only for 3-5 years to ultimately buy a decent home for my family.

I'm clearly a dummy so any help is greatly appreciated.

like

What is the best way to invest in IPOs.

like

Gonna help my 16 year old sister get a Roth IRA and learn from my mistakes of not starting early... Should we park it in a target date fund or index fund (VTWAX or the like) ?

likeupliftingsmart

Best credit card for someone who goes out to bars and restaurants a lot and enjoys travel???

like

How do we buy corporate bond in India? Reliable platform as well plz

What do we think is going to happen with student loan deferral? Any recent new grads thinking they’re going to pay back any time soon? Some argue Biden is going to keep pushing interest pause til next election then forgive 10k as a strategy to help get re-elected? I only have 15k to pay and can pay it anytime, but no incentive to when that money can be earning more elsewhere in the meantime, thoughts on what is really going to happen?

like

Anyone here tryna go into impact investing?

like

Best website or realtor o company or way to find and buy a condo in NYC(Queens, Bronx or Manhattan), 2-3 bedroom.

like

Here’s a point of reference on meme stocks for people who thinks it’s too late to get in or who think it’s close to peaking. Tesla: 948M outstanding shares; market cap: $837B. GameStop: 69.75M; market cap: $5.36B.

likefunny

Has anyone used or heard about Flagstar Bank for mortgage? Seem to have a great program for JDs, wondering if anyone has any bad experiences or good experiences with them

like

Looking for an investment advisor who is 1) a fiduciary 2) has a CFA/CFP/CPA or some combination thereof. No exceptions. DC/Baltimore area.
TIA.

like

Quick question - my package includes some fixed component for housing. Say if I spend less than that at actuals, I cannot claim the full amount?

Post Photo
like

Hi fishes

My package is 25.5 LPA fixed. Can someone suggest which tax regime would be better for me. As of now I do not have a home loan to claim tax benefit.
Also what could be the in hand salary in my case.
PF deduction : 153000

like

Does anyone have any good mortgage broker recommendations that will help find a way to not pay PMI?

like

I am considering putting down an offer for a TH in a community that has Mello Roos. It gets added to the property tax. I am looking at paying an additional 5-6k for that.

Online videos say it’s all good because the money gets invested in building the community .

any potential downsides? In terms of future sales and demand ? What am I missing?

like

For any real estate investors

22 years old and currently focused on using my left over income to invest and pay off my debt. I am set to pay off my college loans by next year and, when I do, I want to look into investing into real estate. Does anyone have any suggestions on how to get into/learn more about real estate investing? Or how I can have enough knowledge on the topic to be able to invest wisely when the time comes?

Any books? youtubers? etc. How did you all learn about it?

like

BakerTilly people, what application do you use to prepare your financial statements? Do you use word/excel?

likefunny

Any recommendations on where to invest 10k? I have about 15k in stocks but I don’t think I’ve done a great job picking stocks. Also for people making 150k+ how do you budget your money monthly?

like

Is it a good idea to invest in your UK pension fund over the max your employer will contribute/match? This may potentially lower income tax but then one can't really access the pension pot till retirement. Or is it better to invest post-tax income into a stocks and shares ISA to avoid capital gains tax? TIA!

like

Curious to know what other avenues people have taken in our industry to make more money. Currently getting OT which is nice since most places don’t offer that benefit but still doesn’t feel like it’s worth the long nights when the paycheck comes in.

like

More Posts

I am new to United Silver and I purchase economy tickets. Is the best strategy to check in exactly 24 hours ahead and switch my seat to an open economy plus seat?

like

an someone please suggest me good keywords that needs to be there in resume for a person like me having 4+yeras of experience in Procure to pay and RTR profile. Plus talking about other factors I have done my full time MBA and looking for job in finance profile.

Also Any reference will be highly appreciated.
YOE-4 yrs

like

What kind of scores do folks target for the AWA section of GMAT? My writing is way below average (like a 2/6 on a good day), so just wondering how much time I should spend on AWA compared to other sections

like

Can any one give me referral in NielsenIQ ?
For Machine learning or Data Science
Yoe:3
PL: pune, bangalore

like

One of my top talents just put in his two weeks notice and I had nothing to offer him to stay. I told upper management this was going to happen! I’ve spent months asking for a promotion for him, trying to push his career forward and got no traction. I know i did my best. He knows i tried. I still believe i work at a good place but i feel like we’re losing focus. I feel my boss is leaving soon. It’s a mess.

like

This has probably been asked many times in this bowl - what’s the best hotel rewards program? I have the Chase Sapphire Preferred card and I’m a Southwest RR member. I travel maybe 25-30% of the time

I like my clients more than my team/leadership

like

First post, not sure if this is the best bowl to use but here goes. I’m wondering if anyone can share a bit about their experience working at MongoDB. I have seen they are hiring for many roles and am curious to hear about their experience. In particular, I would like to hear about software engineer roles. Currently I work on database engine C++ code and have seen some roles that indicate continuing down this stream would be possible with my skillset.

like

Spotify has a couple of really interesting remote first-positions open. What’s their salary range at Director level in EU?

like

Any good grief counseling in Chicago or remote? My dad has late stage cancer and is dying. Need help to process this.

like

Hi

I have a current CTC of 6.6 and Mastercard is offering 8.9 (including variable ) . I also have an offer from infosys of 10 ( including variable). Which one should I pick considering work life balance and
appraisal.My entire doubt is that will they bring me on market rate after appraisals as currently they are not offering very good hike.

I will be joining HR team

Any contract specialists with experience with rebates looking for a fully remote job paying up to 150k base salary. Please reach out.

like

Hey all, I’m considering a position with KPMG’s Deal Advisory / M&A service line as an M. What are your thoughts on 1) work life balance, 2) business outlook, and 3) culture? The salary is very competitive.

like

My friend and I were hoping to do a quick getaway to warmer weather this weekend (we live in Maine, so we're already freezing)! Our usual getaway is a quick trip to Florida but that's obviously not happening this week. Any suggestions for an awesome warmer place on a budget?

like

Hi Fishes,
1 doubt. We usually get a call before the interview scheduling, for discussing our experience, skill sets, etc., At that time itself, most of the recruiters ask for our cctc & ectc. Then they schedule the interview and further rounds.
So my qn is, can we change the ECTC during HR disc. from what we mentioned in the initial call (before the interview)

like

Any recommendations for women’s watches? Looking to spend $800-$1000

Hi all got selected in Infosys, any idea what will be my take home if i get CTC of 16 lpa... The HR told my VP will be 15% so excluding vp it's going to be 13.6.. so now what wil be my take home... Any guesses.. TIA...

MBA admit here and have to put down a deposit soon, having serious cold feet right now due to the covid situation and potentially having to start virtually. Would love any perspective on how it's been particularly socially and what your schools' outlook on the fall is

like

Is planview a good company to work for ? Want to know about the wlb, hike and technical growth opportunities.

Additional Posts in The Real Estate Bowl

I am considering putting down an offer for a TH in a community that has Mello Roos. It gets added to the property tax. I am looking at paying an additional 5-6k for that.

Online videos say it’s all good because the money gets invested in building the community .

any potential downsides? In terms of future sales and demand ? What am I missing?

like

I am moving to Charlotte, NC for a new job. I currently live in Portland, OR and have a single family home here. With my income, and current mortgage, I can afford a 350k house I’m Charlotte with about 10% down. What are the pros and cons of buying a new place in Charlotte and then sell my house in Portland?

like

Commercial real estate question. When a residential property will likely zone commercial in the coming years, do we, the owner, wait for a buyer/developer to contact us?

like

Anyone punched out of state 4-10 unit apt building? How did you find the listing?

like

Under contract to buy my first home - house hacking a triplex. Property has been leased by the same three tenants for the last 5+ yrs, rents haven’t been raised since they moved in. Market rents have risen 70-100% in the same timeframe. All seem like ideal tenants (retired and take great care of the units) but I’d like advice on how to approach the rent increase conversation. Rents don’t make/break my mortgage payment but I’m leaving a lot on the table if I don’t increase significantly.

like

Interested in development. Any recommendations on how to get started? Are there any organizations that will fund any part of a development project?

like

Is a sloped floor of 1/2” over 10’ noticeable? I have to make room for conduit and cannot trench in my current place

likesmart

Does anyone have experience managing an out of state property yourself? Are there any tips/services you use?

like

Just bought a new primary residence that needs work. Current home has ~$100k equity after buying in 2019 with <$20k down (appreciated around 20% in the last 3 years, in a major metro area). Would you:

1) Lock in the appreciation & sell now. Use some for renovations/other investments.

2) Keep for another 2-3 years & rent out for a small cash flow (<100/month if self-managing), get a HELOC if needed. Note it would not pass my investment criteria if buying today.

3) other approach?

like

I share my first property with a family member which is my primary home. If I buy a second property (and keep the first property) and live there, does that second property now qualify as my primary home?

like

I'm under contract for a new build in progress that won't be done until much later this year. I fully expect interest rates will be higher than what I originally estimated. I may or may not try to lock in a good rate early, but I'm planning on renting it out and this throws a bit if a wrench in my margins. I can take it financially, but wondering, If I absolutely needed to get out of buying it, what recourse do I have? Or could I go ahead, and refinance later (who knows rates at that time...)?

like

For people who recently refinanced, bought or is in the process of buying a new home, what APR did you get?

like

Looking to buy in the DMV suburbs (northern VA). Is this the wrong time for such a move? Beyond down payment, got about 6mo emergency fund and must tap into it for moving&house expenses like furniture

like

Has anyone used Loan Cabin to refinance? They seem to have the best rates.

like

If u have a house under my name if i move it to an llc what happens? Do i refinance to prevent a due on sale clause?

like

Do you thank your tenants for paying the rent? A quick thank you text?

like

Any one knows what’s the easiest way to order a radon test for new construction?

like

Now that the rents are going higher and housing is not affordable. With wfh option is it good idea to love to ranch with house?

Anyone here invested or opted as primary living place outside of cities?

Cheers

like

Looking to move out of California, and considering buying a townhome in Atlanta for ~$650k. Any thoughts on the Atlanta real estate market?

like

Any Property Management recs in Seattle area? :(

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal