Your definition/criteria for... The "right" time to buy a house is..?

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Young_Chitlin
Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
edited June 2016 in For The Grown & Sexy
https://youtu.be/6LOSWe_a560
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  • 5th Letter
    5th Letter Members, Moderators, Writer Posts: 37,068 Regulator
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    BoyPussy wrote: »
    When you can afford it

    /thread

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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    BoyPussy wrote: »
    When you can afford it

    /thread

    Pew pew pew
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  • 1800skypager
    1800skypager Members Posts: 671 ✭✭✭✭
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    For me? Never. I'm not looking for ROI on a home, and like automobiles, homes depreciate and require maintenance. I would rather pay rent to forego the liability of home ownership.
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    1800skypager wrote: »
    For me? Never. I'm not looking for ROI on a home, and like automobiles, homes depreciate and require maintenance. I would rather pay rent to forego the liability of home ownership.

    Even with the risk of rent increasing?
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    @sion @traestar @Paprika @TheBoyRo @2stepz_ahead
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  • 2stepz_ahead
    2stepz_ahead Guests, Members, Writer, Content Producer Posts: 32,324 ✭✭✭✭✭
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    are we talking about to live in, vacation home or investment home...
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  • Billy_Poncho
    Billy_Poncho Members Posts: 22,382 ✭✭✭✭✭
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    1800skypager wrote: »
    For me? Never. I'm not looking for ROI on a home, and like automobiles, homes depreciate and require maintenance. I would rather pay rent to forego the liability of home ownership.

    Feel like the rewards of ownership outweigh the responsibilities.
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    2stepz_ahead wrote: »
    are we talking about to live in, vacation home or investment home...

    Live in, and down the road (for me), a fix/flip
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  • its....JOHN B
    its....JOHN B Members Posts: 19,830 ✭✭✭✭✭
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    Election time might be a good time to buy a house
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  • Young_Chitlin
    Young_Chitlin Members Posts: 23,852 ✭✭✭✭✭
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    its....JOHN B wrote: »
    Election time might be a good time to buy a house

    Howso?
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  • its....JOHN B
    its....JOHN B Members Posts: 19,830 ✭✭✭✭✭
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    Young_Chitlin wrote: »
    its....JOHN B wrote: »
    Election time might be a good time to buy a house

    Howso?

    http://www.homes.com/real-estate/buying-a-home/ask-agent-will-2016-great-time-buy-home/
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  • 2stepz_ahead
    2stepz_ahead Guests, Members, Writer, Content Producer Posts: 32,324 ✭✭✭✭✭
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    Young_Chitlin wrote: »
    2stepz_ahead wrote: »
    are we talking about to live in, vacation home or investment home...

    Live in, and down the road (for me), a fix/flip

    it depends on if i have a family or not then.
    if im single imma buy a fixer upper..

    if i got kids i need something more turnkey.
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  • Neophyte Wolfgang
    Neophyte Wolfgang Members Posts: 4,169 ✭✭✭✭✭
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    Buying a house is not a good investment, that is why you will never be rich by 35
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  • manofmorehouse
    manofmorehouse Members Posts: 2,716 ✭✭✭✭✭
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    its....JOHN B wrote: »
    1800skypager wrote: »
    For me? Never. I'm not looking for ROI on a home, and like automobiles, homes depreciate and require maintenance. I would rather pay rent to forego the liability of home ownership.

    If that isn't the dumbest ? I ever read

    People assume that buying a house is great because it's ownership, you'll accrue equity, or u can flip it. People never factor in property tax, house maintenence, loss of property value, etc, depreciation of the neighborhood you're in, etc. With an apartment, if something breaks, u make a phone call to the landlord and that ? is taken care of within a couple days.

    With home ownership, that's your problem. U know how much it is to just get a plumber to come out?? Or if your septic tank ? up?? Or, ? forbid, u have a leak in your roof? If you're looking for ROI, it may be more beneficial to open a small business. As for when u know you're ready, I'd say when u can put down between 25-30% down
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  • Trillfate
    Trillfate Members Posts: 24,008 ✭✭✭✭✭
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    When the market dictates
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  • Plutarch
    Plutarch Members Posts: 3,239 ✭✭✭✭✭
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    I struggle with this issue. It's a huge decision, imo. I can honestly see the wisdom in both sides though. It guess it depends on the individual.
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  • Cinco
    Cinco Guests, Members, Writer, Content Producer Posts: 5,097 ✭✭✭✭✭
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    I Am Jay ? wrote: »
    Buying a house is not a good investment, that is why you will never be rich by 35
    Wrong
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  • zzombie
    zzombie Members Posts: 11,280 ✭✭✭✭✭
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    I made my first real money house flipping... there are too many factors that go into the decision to buy a house to give a proper answer to this question.

    Now with my way of thinking I don't consider mortgaging a house to be buying one
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  • Will Munny
    Will Munny Members Posts: 30,199 ✭✭✭✭✭
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    26 and already had a 100k saved up? What a trust fund baby.
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  • S2J
    S2J Members Posts: 28,458 ✭✭✭✭✭
    edited June 2016
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    Yea, im not about to sit in here and listen to these ghost stories about how owning a home all of a sudden ia not a good idea. Show me receipts. I have receipts

    4mpluib1kbi4.png

    Apirl, 2012. Pre construction price, 260k. Today, they still building new homes there. They are now STARTING at 375. Ida made a quick 100k in 3 years, or just live there and watch my equity build

    IF you live in a area where rent is expensive anyway, It NEVER makes sense to rent vs own
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  • Paprika
    Paprika Members Posts: 2,475 ✭✭✭✭✭
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    Area is a key point. Obviously your paper has to be in order but area and population are huge factors. As far as Whitby and Oshawa are to Toronto, houses are going for 600K+ compared to 375K 3 years ago.

    Buying a new house for a reasonable price now is pretty much impossible. Toronto and surrounding areas are quickly trying to match Vancouver median prices.

    Bowmanville and eventually Sarina are going to end up this way as well.
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  • traestar
    traestar Members Posts: 6,030 ✭✭✭✭✭
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    S2J wrote: »
    Yea, im not about to sit in here and listen to these ghost stories about how owning a home all of a sudden ia not a good idea. Show me receipts. I have receipts

    4mpluib1kbi4.png

    Apirl, 2012. Pre construction price, 260k. Today, they still building new homes there. They are now STARTING at 375. Ida made a quick 100k in 3 years, or just live there and watch my equity build

    IF you live in a area where rent is expensive anyway, It NEVER makes sense to rent vs own

    The definition of South Jersey
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