Would you buy a house right now?

TacomaJD · Oct 3, 2014

Stable job, mid twenties = time to purchase a home. Renting is 100% throwing money away.

Different folks view things differently, but I am another voter for a 30 year mortgage, then pay extra on principal each payment to pay it off quicker if that's what you wanna do. Anyone can lose their job, or something else financially devastating can happen. It's always good to have that wiggle room to be able pay a cheaper minimum payment to get by during tough times, instead of having to sell all your other **** to make ends meet just to pay an expensive ass house payment.

98TJ · Oct 3, 2014

Yep, renting long term is just buying a house for your landlord.

We didn't buy our first house until we were +30. Spent a lot of money on dirt bikes, booze, other substances, sports cars, trailer park rent, etc in our 20's. Had a shitload of fun, but should have got into a house much sooner.

BennyV · Oct 3, 2014

thanks for all the advice and knowledge. im really considering doing it, the main thing that will decide if i do it or not will be if the republicans win back the senate in Nov. not that thats a deciding factor it will just be easier to pull the trigger. if like minded folks run the country i think ill be good. just considering all aspects before jumping into somthing i dont 100% need at the moment. thanks again guys and keep it coming with advice and different point of views!!

Dwalk · Oct 3, 2014

Einstein's mother was hesitant about having a child because she didn't know what the world was coming to.....buy a house, if your responsible you will never have any problems no matter what idiot is in Washington.

TacomaJD · Oct 3, 2014

Dwalk said:
Einstein's mother was hesitant about having a child because she didn't know what the world was coming to.....buy a house, if your responsible you will never have any problems no matter what idiot is in Washington.

That is 100% the wisest thing I've heard in quite some time. I was sitting there thinking that it was a little overkill to worry about politics in respect to purchasing a home. Check around for mortgages, you are sure to find one with interest rates and terms that satisfy you. Ensure to the best of your ability that the interest rate will remain fixed, and go for it...you won't regret it! Although the interest rates could always change if the mortgage is sold to another lender. Not really sure on exact rules and regulations regarding altered interest rates if the mortgage is sold, though. Mine was sold less than a year after I bought my house, from People's Independent Bank (PIB) to Chase Home Finance, but nothing changed. Chase has efficient online bill pay and account monitoring, so I've been pretty happy with them ever since. Has all the options to pay extra on principal, laid out all simple and what not.

billstoy · Oct 5, 2014

I can only add is try to be happy with less of a house, use the extra payment money to fix it up or add a shop with cash . keep payment low as poss. and keep some flexablity. just in case of hard times. Buying is a good thing. things do suck right now. Just do the best you can. If things get bad it will affect everyone. The government will just take ownership of everything , We will all be renting from them. They still need workers and taxes!!

DirtMonkey · Oct 7, 2014

Dude, real estate is ALWAYS a good investment. Its hard to see it sometimes when your young and your mind goes from "I need a beer, to I need poon, to I need some pizza, to I need to wrench on my rig" but you will be soooo much better off, and will NOT regret it. Buy it, and don't let a chick convince you to let her move in until you have lived a good full bachelor lifestyle in YOUR house :dblthumb:

Oh, both posts above are very good advise as well! Dont over buy...but dont buy a 1 bed/1bath craphole that you cant rent or sell down the road either(UNLESS ITS NEXT TO A UNIVERSITY). and location is EVERYTHING.