Is buying a house insanity?

I'd like to move outta the city. Quaint town located 1hr near some of the best climbing and skiing in the the state. I'm trynna go cheap incase the housing market does crash but the cheapest is like 350k. Am I insane to buy my first home right now?

  1. 3 weeks ago
    Anonymous

    Yeah wait a few months and you’ll get one practically for free

    • 3 weeks ago
      Anonymous

      Is this a hunch or based in logic?

      • 3 weeks ago
        Anonymous

        its priced out cope, he will be telling you the exact same thing in 6 months. prices might be lower going forward but rates will be higher.

  2. 3 weeks ago
    Anonymous

    bump
    same boat as you 100%, cabin innawoods for under $350K...first time buyer
    maybe one of the smart people will give their thots, I'm curious as well.

  3. 3 weeks ago
    Anonymous

    Biden will give you a house for free in two months

    • 3 weeks ago
      Anonymous

      My current lease ends in Oct. How long does it take from making an offer to settlement?

      • 3 weeks ago
        Anonymous

        Depends on your bank. Usually 30-60 days. If you're in a high demand area it may be more like 90 days.

        • 3 weeks ago
          Anonymous

          Thanks bud. So I'm close to aligning my settlement with my lease ending.

  4. 3 weeks ago
    Anonymous

    [log in to view media]

    The market is fine. It is not a bubble. Buy a house it only keep going up.

    • 3 weeks ago
      Anonymous

      [log in to view media]

      My trend line does seem so absurd. Offering 345k

    • 3 weeks ago
      Anonymous

      >The market is fine. It is not a bubble
      lmao
      getting flashbacks to 2007, same idiots saying the same thing right up until the day lehman brothers went tits up

      • 3 weeks ago
        Anonymous

        What are you Chinese?

        It's a troll retards.

        depends on the location, finance, and if it's actually your dream home
        if you secure a cheap fixed mortgage then repayments on a $350k loan wont be much more than those on an expensive $300k or even $250k loan: this is something a lot of people don't realise
        you also simply need a place to live and if you've found your dream home then do you really want to delay buying it and developing it for two, three, maybe more, years for the sake of saving even $100k over thirty years by which time inflation will have made everything twice as expensive anyway?
        however, if youre buying just to buy and would move in a few years anyway I would say just rent - the market is too uncertain right now and you risk being seriously justed if you finance a $350k home only for it to drop by 20% next year, which is entirely possible maybe even likely

        Not my dream home but a dream location. Only a town of 1k people. Stuff seems scarce to buy. I think even if housing crashes rent will stay high and that's another reason I'd like out asap.

        What's considered a good rate nowadays. I'm getting like 5%.

        • 3 weeks ago
          Anonymous

          https://www.zillow.com/homedetails/1220-S-Mill-Ave-Tempe-AZ-85281/7585175_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

          • 3 weeks ago
            Anonymous

            1 million of 1,367sqft...
            >It is next to a College

          • 3 weeks ago
            Anonymous

            I mean they just renovated the shit outta that and they're trynna make a buck before shit hits the fan.the house I'm looking at is 1/3 that price. It's up maybe 30% from the trend line. They didn't even plot a trend line on this Tempe house cause it would like a dog coin.

        • 3 weeks ago
          Anonymous

          why dont you rent first? have you lived in a small rural town of 1k people?

        • 3 weeks ago
          Anonymous

          location is the main thing - you can build a house but you cant build a location
          im not even american but 5% isnt very good its average at best
          that said, fixed 5% is still fairly likely to work out cheap based on the assumption that rates will not go negative (and they cant go much lower unless they do) and they are likely to go up, which most people seem to think they will
          you can refinance later and you will probably want to eventually

          if it actually is your dream location and you can see yourself living there for 20+ years and you have a secure job then i would say just go for it
          the market will go up and down and it wont be the absolute optimal financial decision but there is an extent to which you shouldnt delay your life just for money and you will never time it perfectly
          $350k isnt a lot for a good home in a good area now anyway so im assuming you arent in a really overheated area

          • 3 weeks ago
            Anonymous

            why are you saying that buying at the absolute top of the market is in anyway a good idea

        • 3 weeks ago
          Anonymous

          Have you even lived there before? Sounds like you're asking to buy the top in a place you'll find out you actually hate

        • 3 weeks ago
          YOUR COOL FRIEND

          [log in to view media]

          >Not my dream home.
          Don’t do it. I paid $390k for a house in February at 2.5% with 45 acres, fresh water springs, fish, facilities for animals, fiber internet, and an active local production economy so we will be insulated in the event of total collapse.
          You can find your dream home, don’t settle for something you won’t be happy with - because you could end up holding the bags after all. Most importantly, get something with land.
          >pic rel

          • 3 weeks ago
            Anonymous

            Can I move in ?

            • 3 weeks ago
              Anonymous

              yes, once civ collapses it will be yours for the taking.

            • 3 weeks ago
              YOUR COOL FRIEND

              [log in to view media]

              Aw geez dude - sorry we’re full.

              So, mind telling me what state you live in?

              I live in New England.

              • 3 weeks ago
                Anonymous

                How did you find such a large property for so little? I imagine this is up in Maine or something? Shit in PA would never sell for this even 5 or more years ago

            • 3 weeks ago
              YOUR COOL FRIEND

              [log in to view media]

              So, mind telling me what state you live in?

              My advice is to take your time to look (we looked for over a year), bid a little over asking on “the one” and then negotiate down once the offer is accepted. Also, hire a real estate attorney before you sign anything with a real estate agent. An agent won’t necessarily try to negotiate the best deal on your behalf.

              How did you find such a large property for so little? I imagine this is up in Maine or something? Shit in PA would never sell for this even 5 or more years ago

              It’s on the Vermont/NH border. So the beauty of Vermont, but the benefits of NH residency. There’s plenty going on around here and everyone we’ve met has been friendly.
              We got lucky, I guess. The house definitely needs repair and the animal facilities need a season or two of repair before they can be put to full use, but that’s going to be any house on the market rn.

              • 3 weeks ago
                Anonymous

                What do you do for income?

              • 3 weeks ago
                Anonymous

                He takes in cum.

              • 3 weeks ago
                YOUR COOL FRIEND

                [log in to view media]

                My wife and I combined make about $140k - so, not rich. I am self employed and work ~15 hours a week remotely and write LULZ music on my spare time when I’m not raising our kids.
                LOXISM

                COOL FRIEND GLOWS
                > https://youtu.be/RX_YwkbQsOI
                THE BODY POLITIC

                Don’t give in, anon. We are all going to make it. Keep focused on what you want.

              • 3 weeks ago
                Anonymous

                I'm just wondering if I need to switch careers. Currently I am a PT but my income has stagnated and I am always tied to an urban area for work. With inflation and Medicare cuts my healthcare career prospects look incredibly grim and I'm somewhat glib about serving the community of boomer fat fucks that put me in this situation yet demand free services.

                I'm looking for an out but don't know what direction to take, I could do travel work, go to school for a trade and go innawoods, idk.

              • 3 weeks ago
                Anonymous

                >Also, hire a real estate attorney before you sign anything with a real estate agent. An agent won’t necessarily try to negotiate the best deal on your behalf.
                OP this is really shitty advice. I can't believe how retarded half of this board is. OP, just get a good realtor to represent you (buyer's agent), don't go to the agent that has the house listed (they are the seller's agent). A real estate attorney is expensive as fuck ($200 - $300 per hour) and would only be needed if you were buying something in a really weird situation. This is like telling somebody to go to a neurosurgeon to consult to buy a pack of aspirin because they have a minor headache.

              • 3 weeks ago
                YOUR COOL FRIEND

                It was free for us because we are insured. Also, there’s no way to “get a good realtor” unless you know one personally in the area.

                I'm just wondering if I need to switch careers. Currently I am a PT but my income has stagnated and I am always tied to an urban area for work. With inflation and Medicare cuts my healthcare career prospects look incredibly grim and I'm somewhat glib about serving the community of boomer fat fucks that put me in this situation yet demand free services.

                I'm looking for an out but don't know what direction to take, I could do travel work, go to school for a trade and go innawoods, idk.

                I’m sure you can get a PT job remotely calling into people, no?

              • 3 weeks ago
                Anonymous

                >It was free for us because we are insured
                You have real estate attorney insurance?

              • 3 weeks ago
                YOUR COOL FRIEND

                Believe it or not, there is general legal representation insurance that you can get through corporate jobs for almost nothing and it covers a wide range of things, including purchasing a home, wills, defense, etc.

              • 3 weeks ago
                Anonymous

                did you do your search on zillow?
                i work remotely and want to innawoods as well but have a hard time finding places for sale

              • 3 weeks ago
                YOUR COOL FRIEND

                Look everywhere. There are specialty sites that aren’t Zillow that focus on old homes, homes with land, etc. Zillow is fine though.

              • 3 weeks ago
                Anonymous

                >There are specialty sites that aren’t Zillow that focus on old homes, homes with land
                care to name them?

              • 3 weeks ago
                YOUR COOL FRIEND

                Just use google my man.

              • 3 weeks ago
                Anonymous

                You can and that's what I do. I make about 95k plus mileage. The thing is, it's all medicare based. My income will probably never improve because of govt red tape and hospital greed. It's worse in a rural setting because I'd make less but have to drive more and gas is a bit cheaper right now. I'm just so deluded. Making 90k feels like absolute shit when some fuck who didn't go to college and works at a used car lot is making 250k.

              • 3 weeks ago
                Anonymous

                >remotely calling
                Oh you mean like webex calls? That was reimbursable for about 6 months during peak pandemic but no longer. I'd need to charge cash

          • 3 weeks ago
            Anonymous

            So, mind telling me what state you live in?

    • 3 weeks ago
      Anonymous

      What are you Chinese?

  5. 3 weeks ago
    Anonymous

    depends on the location, finance, and if it's actually your dream home
    if you secure a cheap fixed mortgage then repayments on a $350k loan wont be much more than those on an expensive $300k or even $250k loan: this is something a lot of people don't realise
    you also simply need a place to live and if you've found your dream home then do you really want to delay buying it and developing it for two, three, maybe more, years for the sake of saving even $100k over thirty years by which time inflation will have made everything twice as expensive anyway?
    however, if youre buying just to buy and would move in a few years anyway I would say just rent - the market is too uncertain right now and you risk being seriously justed if you finance a $350k home only for it to drop by 20% next year, which is entirely possible maybe even likely

    • 3 weeks ago
      Anonymous

      >if you secure a cheap fixed mortgage
      What is this gobbledychud? Mortgage rates are fixed by the fed. There is no securing a good rate right now. 6% on 300k is absurd no matter what your property taxes are

  6. 3 weeks ago
    Anonymous

    i will never get a mortgage.

    • 3 weeks ago
      Anonymous

      Thanks for paying my mortgage kid.

  7. 3 weeks ago
    Anonymous

    Wait and see for a few months.

  8. 3 weeks ago
    Anonymous

    >when do I buy a home
    When you need one and can afford one. Houses have always increased in value in the long run. Like 10 years long. Its that simple.

    Can you imagine yourself living there for 10 years? You can't lose money.

    • 3 weeks ago
      Anonymous

      This is a dumb brainlet take.

      The average American loses money on their home. Not every fucking market is San Francisco or NYC.

      Homes 'increasing in value' under inflation and when you account for property taxes and maintenance you come out behind.

      The only benefit of those people buying homes is that it forces them to dump money into a hard asset, many people would theoretically save more renting, but they would just blow that saved money on dumb shit instead of actually saving/investing it.

      • 3 weeks ago
        Anonymous

        >property taxes
        Forgot how cucked mutts are.

      • 3 weeks ago
        Anonymous

        It's really a wash. You'd have to calculate rent and theoretical interest payments over the same course of time. If anything, housing can be a hedge against inflation the same way putting your savings into a self funded retirement account could be. But you know what neither the housing market nor the stock market are going to do in the ne t 30 years. You also can't really close out a retirement account the same way you could sell a home and avoid capital gains

  9. 3 weeks ago
    Anonymous

    youre on biz and you havent been paying attention. the market is hemorrhaging. wait if you decide to buy.

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