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Old 05-07-2013, 08:18 AM   #11 (permalink)
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Originally Posted by Pump_Action_Prophet View Post
I'd buy a house as long the price is right. I'm into the buy low/sell high kinda mentality.

A house is a great investment.
As long as its an investment made with investment money that you are not going to be in a need to sell situation. Unfortunately as most people make mortgage payments being in a situation where you have to move and pay a mortgage + rent (or another mortgage) is not a good one.

If you are confident in your stability and in a position where you do not think you would need to or want to move for some time then a house is a good idea. As you note building equity has a value.

HOWEVER - its with the caveat that you are not going to be hunting for jobs outside of the area or asked to relocate. Houses are not a liquid assett - they seldom sell at value quickly. If you are going to be in the position of trying to make a mortgage and rent payment because you moved to get your next job then you are going to be negotiating from a weak position and unlikely to get full value.
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Old 05-07-2013, 08:49 AM   #12 (permalink)
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A home is a great investment if you're stable. Like others have said, if you can see yourself not moving for at least 5 years, buy a home. Remember, apartments are luxury. The luxury is you can pack up your stuff and leave with a 30 day notice most of the time and not have to worry about that overhead anymore.

I personally bought a home last year and it was a great investment. I went from paying $750 a month for a 1 bedroom 800 sq foot apartment to paying $685 a month for a 3 bedroom 2 bath 1400 sq foot home with a garage.
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Old 05-07-2013, 10:15 AM   #13 (permalink)
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Join Date: May 2011
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Originally Posted by docholiday View Post
A home is a great investment if you're stable. Like others have said, if you can see yourself not moving for at least 5 years, buy a home. Remember, apartments are luxury. The luxury is you can pack up your stuff and leave with a 30 day notice most of the time and not have to worry about that overhead anymore.

I personally bought a home last year and it was a great investment. I went from paying $750 a month for a 1 bedroom 800 sq foot apartment to paying $685 a month for a 3 bedroom 2 bath 1400 sq foot home with a garage.
That is how it seems here, apartments are expensive and so is renting a house. Still doing the homework but still double and triple checking everything.
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Old 05-07-2013, 10:17 AM   #14 (permalink)
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I would be paying about $1300 a month for a cheap house around here. Maybe I'm living in the wrong place

I was looking into buying a house, but decided to stick with renting for now. $675 a month and I never have to pay for heat. The $675 a month isn't building towards paying off anything, but it's saving me money each month to build up some $$.
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Old 05-08-2013, 09:46 AM   #15 (permalink)
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thats the main thing around here houses are around 60,000-200,000 but in the middle is usually some fairly decent deals.
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Old 05-08-2013, 09:49 AM   #16 (permalink)
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I wish I could get into a house for that sort of money.
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Old 05-08-2013, 10:24 AM   #17 (permalink)
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Are you not in Kansas moon? Your location seems to say you might...
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Old 05-08-2013, 06:09 PM   #18 (permalink)
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Nope, Oz/Aussie/Australia/Straya!. To be more exact Sydney, one of the most expensive housing markets in the world. Housing/Living costs are a little extreme after the cheapness of Memphis.
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Old 05-09-2013, 12:29 AM   #19 (permalink)
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I just bought a house in Wamego, KS a year ago. I love it. But good or bad, it's your problem if anything goes wrong. If your handy you can build some serious equity with just a little elbow grease.
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