Do you get frustrated at the thought of paying your landlords mortgage. Have you ever wondered whether buying a house is right for you and how to do it safely? Watch this video to learn the pros and cons of renting vs buying.
nice video except it is called a housing MARKET. meaning the home is only worth what someone will pay for it or the sum of it's materials/land. If you buy for 175, it is worth 175 not 190 otherwise someone would offer 190..
Ummm its way smarter to take your downpayment and buy a cash flowing rental unit. The house you live in is not an asset unless it's a duplex or something where the renter is covering the mortgage.
If you think you own a house or property just stop paying the taxes on it and you'll see who owns it!
My parents bought a brand new house in the year 2000. 17 years later, their house and neighborhood hasn't gone up in value at all. My friend bought a condo, in different neighborhood, increased $15,0000+ in one year. Be careful everyone.
Please do the watching public and DO NOT offer financial advice. You offer a very very, very narrow, view and very limited explanation of a the bigger picture of RE investing. I guess you get what you pay for.
If you check the census.gov, the last 30 years median household price has gone up 1.3% a year. While you’re paying how much of an interest? 2nd Rent is higher than mortgage?! I don’t think you’re comparing the same size houses. 3rd ask any multi millionaire or billionaire, did a house ever make money?!
ALL real estate agents will ONLY tell you its ALWAYS a good time to buy a house because the collect commission and take on no risks. YOU handle all risks of timing the market wrong.
Either you guys are being Screwed over in America or this Video is grossly misleading, I pay around 60% of the amount my Landlord pays, he basically carries around 40% of the Mortgage by himself and this excludes service amounts.
The rent/mortgage difference has more to do with the property taxes. With tax deduction on mortgage interest and property taxes it is worth buying – especially where the property taxes are 10,000.
This advice is so specific, irrelevant, and awful. Basically only watch if you want to be a landlord.
No one buys anything! Everything is rented in the U.S. You will always pay rent to the county or perish you live in, and that doesn't even include the ugly side of HOA's you will always pay rent to.
poor guy. as a "home owner" im gonna dump on you some more. this "flipping" fantasy makes sense theoretically, but when u have kids, paycuts, recessions, school costs, vacations, trips to home depot, tax increases, new garbage tax, new sewer tax, etc,etc…are u feelin the pressure? i feel like im drowning. dont fall into the trap! RENT! or continue living in yer parents house where its safe. theres always hot pockets, magically replenished in the freezer.
When you buy a house, its not 'your' asset, its the BANK's asset. You're welcome.
0:57 hold your horses! If rent is higher than mortgage that means you could earn money by mortgaging a house and renting it out?! That's obviously nonsense.
ROFL…this video is cancer, rent is higher than mortgage? seriously ? while buying house you would have paid 5% + tax.. and in 6 months EMI interest will be 30% to 50% ….
No asset at the end of period when renting. Sad!
Rent is better than buying house
These are magical numbers now that the banks are manipulating the market. 1999 house $90K, same house in 2007 $320K magic or manipulation of the market. Everyone was in on it top to bottom.
Take off your rose colored glasses bruh. Owning rarely if ever cheaper than renting. I've owned and rented and I can say renting is far better on net. If you consider all the maintenance costs and surprise expenses. And for you example of house hacking and buying from distressed owners you make it sound finger snap easy. Many people bargain with "distressed" owners so to pretend like you're the only one offering to buy is just silly. House hacking is legally complicating and tough to manage on a long-term basis.
Overall If someone is flushed in cash then real estate is a great investment option. But If they're means are limited, online businesses are a far better option with better returns.
Buying a home is not the American Dream. Buying a home is the American Nightmare. The cost of homeownership is very high. Mortgage Interest, maintenance, updates, taxes, being tied down to one location. Also when you sell, commissions and closing cost are 20-30K plus. If you are not going to live in a home for 7-10+ years, don't buy. I have owned several homes and I've always lost.