I'm a homowner did I make mistake anons?

Living in your parents basement whilst investing in rental properties with all your wages to escape wage cuckoldry in 5 years time is the best way to go.

Mortgages are ultra Jewish. Just look at what happened in 2008. Make no mistakes about it, you are not a homeowner. Miss a single payment and you will find out who really owns your house pretty quickly.

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>he thinks you can pay it off
I own my house. I still have to pay what averages out to $550 a month to rent it from the government and insure it. Add maintenance and upkeep and we're approaching average rent for my area. If you include utilities, like most rentals do, I'm paying more to own a building than I'd pay to rent a similar sized apartment.

what is your interest rate?
anything higher than 3.9 you got ripped off.

I'm not too worried about that since I'm not a poorfag so making payments isn't an issue, but the interest rate is fucking theivery I swear. I'm going to end up paying twice when I offered for it.

And some loans penelize paying off the oan early. thankfully the loan I have doesn't hae such penalities, but when I was in the title office signing my life away the tile agent brought it up like

>hey user you can make early payments without penalty.

like WTF?I didn't know that was even a thing, but with jews anything is possible

>not living in a beat up van down by the river.

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Not when ur going to inhert a fortune when ur folks kick the bucket.

though I mostly move so I could have a shop in the basement, there is a nice little workbench down there so it's a start. he only thing I had in my apartment was a faggy 3D printer. I want some power tools. can't have man's tools in an apartment though

Depends on a few things:
1. How big was the loan to cover the cost of buying the house.
2. How long will it take you to pay off the loan?
3. Are you all set to maintain the upkeep and maintenance of the house?
4. Is the surrounding area a good place to live and possibly raise a family, because now you have essentially planted yourself in an area and cannot easily pick up and leave?

I'm sure there are other questions I should be asking but these are the ones that I am most curious about right now.

This is what I'm doing. My parents are fucking millionaires. I'm getting an island in the Bahamas and a nice ranch in rural Tennessee. All I have to do is out live them, they are both very unhealthy. They have made it clear I am getting these things.

Based Jeffrey Dahmer did

>inheriting your parents house when they die
Tfw you don't get a house until you're 70 years old and your dad finally dies.

>fortune
kek, my parents are poorer than me, the only thing they have over me is the house they slaved over their whole life paying off and 25 acres of pine forest. the 25 acres of pine forest is pretty based, I miss being able to explore the woods whenever I wanted to when I was a kid. my childhood was mostly building forts in the woods and shooting paint guns at my friends.

but yeah, my parents never retired they still work to this day.

I hope you went rural-master race

I'd take a picture of the workbench, but the basement is spooky and i don't like being down there too long, I'm hoping to try and finish it to make it a bit more cheery.

>not waiting for the next housing bubble crash to buy
You got jewed user

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I tried there just wasn't anything in the country, like literally anything. I'm in the city, but its a small city of 15,000. It's a pretty quiet town, no niggers, the inspector I hired to look at the house before I bought it was pretty based and said the city I was renting an apartment in before I bought this house had a nigger problem.

Mortgage is indentured servitude you dun goofed

Based

Not if you can afford it. Prices for a wooden box are definitely inflated in most areas.

Renting is the ultimate Jew. You typically pay as much or more than a mortgage, and they nickel and dime the fuck out of you. I got charged a $300 fee when I moved out. The bill included shit like "laundry machine cleaning fee: $30, dryer cleaning fee: $30". When I asked wtf this shit was, they said there was still lint in the dryer trap, so they charged $30 to wipe it down. I had actually emptied the lint trap, but they charged me for not wiping it the fuck down... The washing machine fee was because there was soap in the hole that you put soap in. $30 to wipe off a tiny amount of soap, where soap is supposed to go.

Never fucking rent an apartment. The most redpilled thing millenials do is rent a house with their friends, splitting the cost of rent, then buying houses when they can afford it. You have to have friends for that to work though, never find roommates on the internet because they're pretty much always losers, drug addicts, niggers who won't end up paying, etc.

This. I'm saving up until the crash and then I'm gonna buy a fucking $250k house for $100k like a champion dollarsman. Smell my ass, OP.

I have a nice pile of sheckles saved up and im just waiting for wallstreet to crash the economy again to buy a bunch of prime land on the cheap from dumb boomers.

Do you shit in the river or what?

Owning a house is way better than renting. Your net worth is only hurt by interest payments, since the rest of what you're spending is equity in an asset. If you live in an apartment for 7 years and then move, you get jack. Hell, you'll probably have to pay to fix some stuff up. But if you live in a house for 7 years, and sell, you'll get thousands of dollars.

Also look into rental property. It's practically free money by leveraging your credit.

If you're buying the property to live in, you don't need to worry about the cycle since it will go up and down no matter what. You hodl your own house, since you're not in it for the money. If you're buying real-estate as an investment then it also doesn't matter, since you're supposed to be constantly buying properties to expand your net. Don't forget that you'll be paying more in interest when the market is down, since banks are presumably getting JUST'd daily.

>Don't forget that you'll be paying more in interest when the market is down, since banks are presumably getting JUST'd daily.
Not necessarily, after this last crash in 2008 interest rates were near 0.

I'm in my early 20's, engineering job making 70k a year, I have an appointment tomorrow with a Jew to apply for a mortgage to buy an apartment to rent out to someone. I want to continue living at home and pay it off within 1-2 years and then have an $100k and collect an extra grand every month from rent front my renter. Opinions? Suggestions?

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Owning a home is fine. Owning debt is not. With a mortgage the bank owns the house on your behalf until the debt is paid.

This, buying a house in any city you are going to get Jewd

>for free
yeah I can't wait to take on all that boomer debt sign me up

Depends.
In 1999, I bought a nice historic home in a smallish CA city near a big metro area for $97,000. During the recession, I liquidated some investments and snapped up three more rental properties, two multi-unit, all foreclosed and a STEAL, in my own neighborhood and another historic area with waterviews nearby.

Ten years later I am sitting pretty on a ton of nice CA real estate. It's all appreciated hugely even not counting any bubble issues or high speculation. Just for what is selling reliably and quickly around here, I could unload the extra three properties for over $1 million total. Easy.

I might keep 'em though, because they'll be paid off by the time I retire and the rent generated will support me in fine style--even apart from my retirement account and other investments. I pulled all this off because I was born and grew up around here and I know what I'm doing in this neck of the woods.

If you can perform similarly, buy a home for a good price and interest rate in an up-and-coming area, and know therefore that it's a good investment and you'll get nice appreciation over the years, do it. Otherwise, don't. Learn about real estate and become savvy before you dive in, unless you live in a super cheap, easy to buy and sell area where you won't be taking a risk.

IF you have the means, consider paying cash, instead of getting a loan. Buy outright. But ONLY do this if you know that the deal's SO good, a fantastic price and area etc., and you know for a fact that if you got a loan with a great interest rate, the profits from what you could do with all that cash investment-wise over the span of the loan you would've had (20 years, 30, whatever) would not exceed the savings in interest payments from having a home loan.

Land is more valuable.

Gotta collect those interest shekels, goy!

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I'm on plan c, but I'm obviously not a common case. Renting is still fucking retarded.

Make sure to pay the debt fast before the jew jews you. OWNING a house is the best long term investment you can make in this world.

Based basementbros

Paying double the houses value in interest is peak Jew.

No the dont
They just have a lean against it

unless your parents are total cucks they'll catch on to that plan by the time you turn 40, and they'll sell the house, rent a condo in florida and you'll be homeless.

>Grandma had a huge mansion.
>Sold it for a flat in final years.
>Second husband fled with all the money after she died.
RIP inheritance.

>homes have been a source of generational wealth for thousands of years
>Boomers get reverse mortgages or sell thier homes en mass so they can live at a retirement home in Florida
>jewihs bankers inherit all that generational wealth, kids get nothing
Boomercide when?