>>677716220
Supposed to be a maximum of 1/3 of your monthly income.

I pay a little over 2k/month for rent/utilities. My income is 80k. Don't think of it as a percentage of income. Spend more if:
>Do you spend most of your time in your apartment
>Is the location convenient to work
>Is the location convenient for social activities
>Is the location near grocery store/gas/other amenities
>etc, etc

It's give and take, you won't find everything on your list, but pick whats most important and go with that, then you'll be happy with your decision

>>677716220
as low as you reasonably can, but it all depends on where you are and what you need.

I'm fine with sharehousing and living in shitboxes so rent has always been low.

>>677716220
General rule of thumb is no more than a third of your income. You may have to live somewhere less decent until you make more money. Life sucks that way.

>>677716576
Don't listen to this faggot. Don't buy an apartment or condo unless you're ready to commit to a large purchase and youre absolutely positive youre staying where you currently live. This isn't realistic

Also, what the fuck? Real advice on /b/?

>>677716576

I'm 24 years old I have to move the fuck out already. Living with my parents sucks and we don't get along whatsoever I'm pretty much taking up space at this point

Plus property taxes would rape my wallet hard, live in nj

>>677716723

Ya I'm still deciding where to go, but I went to be somewhere surrounded by red countries, as in republican

The cheapest 1 be I've found is 700 and that's in low income sticks turf,

>>677716220
No more than 30%

You don't want to spend more than 1/3, otherwise you'll never retire.
1/4 is okish.
If you can afford to buy, it's better.
Otherwise, sell your car, buy a camper van or RV, and live in it.

>>677716576
nothing a poorfag wants to hear more than 'get yourself into extreme debt and lock yourself into a specific physical location when you're just starting your career'

Renting isn't the best option if you're only considering long term financial benefit. when you take into account things like physical mobility and flexibility to take jobs when you can it has a lot of benefits.

I'm 30 and recently bought. It's a good choice for me now, but I'd have been a fucking idiot to do it at 20.

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>>677716220
fact: 99.9% of 4chan users are too scared to browse mchan, and they have the status of reddit normies now because of that

hello, redditors

>>677717299

God damn fucking tablet

Oh well

>>677716220
based on a mortgage you are required to earn at least 3 times what the loan is. so 30%

>>677717438

Ya I am definitely not buying shit unless its too rent out

I'm not even sure I want to stay in this state, once I finish college I'm gonna have to consider my options hard

>>677717129
>>677717438
do the math faggot, if anon is paying $950 a month thats around 11k a year. Sure he gets locked into a house/mortgage but he can rent out a bed/room and make some extra money that way. Or you know, he could keep on throwing away 11k every year until he decides to buy his own place.

>>677717129

You can always rent if you decide to move. But yeah, who wants to be in debt for the next 10 to 30 years? Fucking sheeple that's who.

>>677716576
Buying is a bad idea for a single person, it makes no sense because there's too much long term commitment into something that will not actually grow unless someone else pays for it. You can rent, not have to deal with any maintenance issues, pay for what you need and invest a percentage of your income every month and be leaps and bounds ahead.
Tldr; buying is for a family of 5 not a single person

There is no fixed percentage. It depends on many things, like where you live, what your priorities are, how much you make, and so on.

I have often paid half of my income to rent, because I lived in expensive areas, and because I usually had few other expenses. It's less now, though.

Try not living in a fucking huge metropolis? What people pay to live in places like NY, Boston, San Fran, Anywhere in D.C., honestly it is fucking insane. Why the fuck anyone would pay 2k for a shitty no room apartment is beyond me. Move somewhere reasonable man, get the fuck out of the huge cities. That shit is good for your soul, mind, and blood pressure. Best thing I ever did is leave NY.

>>677717299
Here's the bottom line, rent is expensive, living anywhere is. Would you rather spend 700 on a shit apartment or 1000 on a fantastic one. One of my guiding morals is when I'm spending a large amount of money on something I'm going to use daily (bed/apartment/vape pen/car) then I spend more. You have no idea how much of an effect your apartment or living space has on your happiness

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>>677716576
>get upside down on a mortgage
>live in 1 bedroom apartment for the rest of his life

If you're young, live cheap and buy property in full with cash when you can.

>>677718014

50% sounds WAY too high

Buying is for stable people who know they will be in the same spot, making the same money for 10+ years.

If you're 22 years old, buying would be a bad idea.

>>677717299
find cheap place to rent

save money

buy small house or land or build house

save money ( repeat repeat)

>>677718095
Oh cool, you vape.

there u go fags follow the system. go to college, get married have a house 2.5 kids and 5k in constant debt.... how about instead of a buying a house (liability) you take the money buy rental properties (assets) generate a cash flow and use that to buy your liability home

-anon BA Financial Engineer... nigas!

>>677718085

You think I like living in northern nj? Shit sucks I can't stand it at all. NYC is cool now and again but the driving alone kills it for me. I like western NJ and I'd prefer living in morris or sussex county but shit is expensive as fuck from what I can tell

>>677716220
your credit goes to shit if your rent (including utilities) exceeds 35%
but you should use the least amount of money you can for rent and put the difference into savings for a down payment on some where you will own

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>>677718488
>unironically using BA and Engineer in the same title

This is what's wrong with America

>>677716220
As little as you can justify.

I personally in 21 years of renting apartments have never spent less than 60% of my income on rent. It just works out that way, because I've never worked for an architecture firm that's paid any non-partner more than $15/hr. So realistically, we're all basically poor as fuck.

But you can't be an arckltexturator if you live in a squalid dump, or you'll never get any side work, which is the only way TO make any income.

Like all things, you have to spend money to make money. Currently I earn $0, and pay $750, in the cheapest apartment in this city.

>>677718488

OP here

While I do want to rent out property someday, the way you make it seem is far out of reality. Its not that simple to do at all

I go 25% rent and bills, 25% fuck off, and 50% savings.
It works out pretty well. I have the fun money but I also have a nest egg.

>>677717873
Right and when he needs an $6000 for Hvac, $12000 for a roof, $1800 for a water heater, $3000 a year for property taxes, 5% upkeep on the value of the house every year, utilities, the list goes on and on. It's more than just the mortgage you pleb

>>677718887
>I go 25% rent and bills, 25% fuck off, and 50% savings.
bullshit. what are the actual figures?

>>677718760

You'd be better off living in the woods and growing beans.

while my wife is in school and part time we are struggling to live in a nice area. I lived in Houston for 7 months and I was 2 miles away from shot in every direction and didn't feel safe.

Paying 575 more a month for a bigger nicer place but hell it's hard . we are broke for the last a week's of every month.

But she will graduate THIS may and shit will be much easier. I would gladly struggle not to live in shit.

>>677718684
My credit score is 886 and I don't even have a jerb nigga.

I have a Jewish last name though (thanks stepdad!), so maybe that accounts for it.

>>677718689
>BA cuz i can fag and i earned it bitch :)
BA vs BS do u know the difference or you just a dropout fag

Further, had to specify financial vs standard mechanical or electrical. for record the complications of financial calculations far exceed any equations used in other engineering.

>>677718881

the fuck it aint. anyone with determination can do it. in fact there are people that will let you take over their property and make annuity payments. with nothing down.


and if you realy want to play the game go for tax liens

>>677716677
Truth, 1/3rd. I just bought a house and make 44k/yr. My mortgage is 800/mo with mortgage insurance and home insurance

>>677719117

And then a recession hits, he loses his job, the housing bubble collapses, and he ends up sucking dicks in Oakland.

>>677719239
While this is true,

...this is most always true. So I continue to ignore it and live paycheck to paycheck funding your society. Sail on mighty ship of state!

>>677718085
>driving in NYC

i found your problem.

>>677719408
Fuck it can't be all bad both my gardener and the homeless guy on my bike route have their BAs. No need to understand math.

In a vacuum buying is generally the better deal but it's not always realistic. You have to be relatively stationary / stable in your career. Also some areas prices are out of control, and of course thier is the credit issue.

If you are not ready to buy rent as cheap as you can. You are not renting a status symbol. Don't rent fancy granite countertops and stainless steel appliances. Just keep it as cheap as you can and save. Go small space/ studio and sock away money so when the buying time is right you are ready and work on your credit in the mean time.

I know tons of people who are pushing into their late 30s and have spent enough on rent to own the condo they live in, but have nothing to show for it. Don't be them.
Rent cheap and save.

T. Investment advisor that used to work in the god awful mortgage industry.

>>677719117
And that is why I will never own.

>>677719373
>My credit score is 886
>implying credit scores are the end all and be all of credit
it doesn't matter what your score is
if your debt-income ratio gets higher ~60% it becomes almost impossible to get a line of credit
and the credit you can get has such a high interest rate that it will be almost impossible to put money towards the capital

>>677716723
My income is 70K and I'm moving into an apartment that's 17k/month. How old are you? Am I gonna make it anon

Anon 1/3rd should go to your housing

>>677717481
Mchan is just full of cp. that's all it is

>>677716220
>>677716677
>>677717363
>>677718173

At the very most, only ~1/3, 30% should go to BUYING a house.

Rent should be FAR less, otherwise you are buying a house for someone who can already afford it.

>>677719408
That should ought to be enough to make your aspie senses tingle all the way down to your booger-encrusted hankercheif.

Congratulations, you're the biggest dork in the room.

>>677719117
Because you need a new roof every year.

>>677718095
>I spent lots of money on consumables and investments that lose value

how is that savings plan going anon?

>>677720563
And with that, we just lost everyone to Mchan.

>>677719958
yep some people just dont know how to apply. maybe gicve that homeless guy a job delivering your paper, bet he could use it

and my gardener (landscape guy pulls 100k A YEAR) me i pull around 100 an hour when i work. semi retired at 30 and now just fuck off programming (money in the bank making money even right now i made money niga) and enjoying my days.

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>>677719408
>Mathematically modeling financial rules made arbitrarily by humans.

>Mathematically modeling the natural world to design and build devices to advance mankind.

There is a difference

>>677720323

You should have paid attention in math class. You'll be in trouble by the end of this month.

>>677720087
Heh.
Good thing I won't be needing a line of credit then.

>>677719786
You mortgaged a trailer?

Isn't that an auto loan?

>>677719958
ps you are an idiot you know

>both my gardener and the homeless guy on my bike route have their BAs

so that why ones a gardner and ones homeless

>No need to understand math.
gtfo

>>677719899

As opposed to taking the train/bus? That shit is borderline cruel and unusual punishment

Of course there is always that chance you meet some hot bitch but its not even worth dealing with that shitshow they call public transportation

>>677717299
Move to Camden or become a piney fagget

>>677719267
>>677720609
51k a year with a 1675 rent bill , I figure if I can get a place that is 150 to 200 dollars cheaper and own it that would be golden.

but we have had to wait because repairs scare the shit out of me. just ruin you when something doesn't cut on, in sugar land you better believe the taxes are almost 5k. I don't even know where I'd get that money.

>>677720563
That's why they're scared to go.

>>677720807
Good. Shit site

>>677720609
The realism factor you have is astonishing. It's not possible to live in a any economically prosperous area for less than 25% of your income.

>>677719786
Niggah Where do you live that is 800 a month morgatge?!?!

>>677721506
>economically prosperous
>wage isn't equivalent to housing
k

>>677720926
Yo might be surprised to talk to homeless people and discover how many of them were not always homeless, but just played the game and lost and fell so far they couldn't get back to it & fell into the spiral they'll never get back out of. Plenty of ex businessmen from the 80s under those bridges.

>>677721275
fuck Camden , first time on my own with my now wife. One bedroom started at 950 pm the next hike it would cost 1150 to resign, in Stafford TX.

My car was broken into the night before they told me about the raise....fuck y'all I was gone.

>>677720932
you sir are also an idiot, again let be clear
Financial engineering (mathematical engineering) far exceeds the complexity of mechanical and electrical engineering

i think calculus and statistics was the last course i took
>fag

>>677721729
It isn't for most people.

>>677721506
Hardly prosperous if borrowing something is taking a massive chunk of your income.

>>677721967
Yea, so then it's overpriced isn't it?

>>677721967
Then it isn't economically prosperous

>>677716220
Ever heard of the 80/20 rule?

I get all my financial advice here.

https://www.youtube.com/watch?v=o_rz1bluG_k

>>677721825
statistics is the poor man's math and there are tons of incredibly varied calc courses...

>>677716220
fucking califag here, the san francisco housing shortage is spreading outward like a plague, it's finally hit my area and now 2bedroom houses are like 2200/mo. Good luck finding a 1 bedroom anything, most are 1k+ to rent a room in a shitty house far away from anything useful.

>>677722372
80 percent of income goes to 20 percent of rent

>>677721825
So?

>In the United States, the Accreditation Board for Engineering and Technology (ABET) does not accredit financial engineering degrees.

https://en.wikipedia.org/wiki/Financial_engineering

Do you have an ABET degree? Because I do. And a M.S.

I'm sure the mathematics modeling of the behavior of 15 year-olds on a Cambodian Cartoon Blog Site is more complex than heart surgery.

>>677717882
>sheeple

Kill yourself for actually saying this. It's the only way to restore your family's honor.

>>677721793
and thats the difference between me and them. i invested in me. and now have a continuous cash flow stream from the internet i may ad as an Apache Host, helping the small business owner make it. they all pay me :) and pay well

nigas even when im dead money still go into the bank account. every morning i get up and bam money just in the account like Magic.

hmm what did i do today. oh yeah not a godamn thing kek :x!

>rent $985
>car $427
>insurance $200
>utility's $250
>cable/Internet $200

Shit gets expensive if you want to live comfortably...

>>677721825
No, lets not fucking play around, electrical engineering is king, and will always be needed and will stay the same. Finance and economies change and your shit becomes useless.

>>677716220
Where do you live OP?

>>677722732
> i invested in me

groan..

>>677722708
U also have autism. No one cares about a masters pleb

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>>677722668
Use 80 to spend on bills and shit
Save 20

>>677722708
you sir are also an idiot

USF Alumni (presidents list | who who and all that shit 3.8gpa) fucktard. accredited too wootwoot
was going for the jurus doctrate but though nah i enjoy life and freedom to much. so started business and never looked back

>>677716576
Exactly what I would recommend!

>If I made 7% commission every time someone sold a condo and 0% every time they rented an apartment.

>>677722255
I can attest to that.
I live and work in La Jolla, Ca.
I make $17/hr as a designer with 18 years experience and having run my own firm for a decade in Washington.

$17/hr. And I'm the highest paid employee in the firm.

Guess now guess how many years it would take me to pay off the cheapest house in this town, one of the most economically prosperous communities in the state?

But, it's the only job I could find, so here I am. But that's not as weird as everyone realizing that none of their kids who aren't heirs, who have to go to school and work for a living, will have the option to live in the town they grew up in either.

Try to post a girl hotter than Catherine Missal. I bet you, you can't. She's from the movie Vacation. Also, it says on Google she is 13, but on Instagram it was said that she's much much older than that.

>>677723276
That's too low for la Jolla. U sure u don't live in Mira mesa

>>677722732
>invested in me
>I werked hard and earned it
>assuming everyone else didn't

gtfo you egotistical lunatic and stump for Ted Cruz or some shit

>>677716220
About 90% if you live in the 503. Fucking sucks dude.

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>>677723142
>jurus doctrate
Thank god you at least saw the sense in just starting your own business

>USF Alumni

kek

>>677723374
Who cares, these girls are all the same.

>>677716576
yes, condo, where you have to buy it before renting it.

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>>677722783
Finance and economies change and your shit becomes useless
>this

man really the whole fucking world economy is based on some form of financial engineering

and i wont need a mechanical or electrical engineer as soon as they get tay tay working again

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>>677723192

>>677723643
Bull fucking shit. Portland is a little on the pricy side but not THAT expensive.

>>677722773
>cable/Internet $200
I don't know what kind of internet you have newfriend but it better be sucking your cock for that price

>>677723467
Right on Neptune.
4 Roommates.

In our 40s.

yayyyy

>>677723880
Top tier, 5MBps download.

>>677723923
You have a place on Neptune? How can you afford that beachfront shit even with roommates?

>>677723923
There's an apartment above the nite owl on garnet right off the 5 that's cheap

>>677723880
50mbps. But that's also whole home dvr, movie channels...

>>677719806
that is a very specific example

>>677723859
I live in FG and cheap housing is about $900/month. My gf makes $1200/month working almlst full time. Sure, I exaggerated but it's pretty high.

>>677724304
Oh, I know the night owl well.
And unfortunately, that apartment too, as I hazily recall.

>>677716220
Fuck this thread,
rent should be 1/4th your income, no more.
If it is more you're living outside your means unless you make 6 figures a year.
You'll never retire or be out of debt paying 1/3 your income, you're fucking yourself over.

Just suck it up, live it at the shit place.
Even better, just buy a trailer.
They do not hold value, but so the fuck what?
Live there for 10 years and you'll save money in comparison to renting or owning a house.

You don't have to be white trash to live in a trailer, you could just be a Jew.

>>677724503
1200? Jesus...

>>677724503
What's FG? I haven't spent much time in Portland honestly. I'm in Seattle. Very average neighborhood and I pay $1125 for a one bedroom.

>>677724651
Unless you have a job that gives you a pension.

>>677723880
That's standard price in Canada.

>>677724754
Like fuck.

Stop just accepting what ever the company tells you to pay ffs.

>>677724171
Friend of a friend. Everyone else is independently wealthy. I'm the only one who works, and I pay the least, because it's what I can afford. They're more interested in having a responsible trustworthy person around than a well off beach bum who's going to rob them one day.

>>677724727
Fuck that! How many sqft?

>>677724887
600 sq ft. Just me and my small doge.

13.46% of my wage goes to rent.
Only because it's split between 3 people. It would be around 40% of my wage if I lived in this house on my own

>>677724949
Fuckin aye. I pay 985 for 1200sqft surrounded by 2000 and 4000 sqft homes. Suburbs. Would pay way more in the city. I guess it just depends on how close you want to be to downtown

>>677724651
Been there done that. All it did was make me miserable poorer, and ruin my optimism and put me in a sour attitude.

Maybe you can live in a trailer year after year indefinitely with the promise of buying a huge financial obligation to have to maintain and pay taxes on, but it's not for everyone. If that were my only option I'd rather live on the street.

>>677724727
Near cornelius, near beaverton

Listen Financial Engineer guy here again.

Stop just saving. use that money to make more money. you are never going to make it in this new economy working just 40. you have to make more.

Look at it like this, each dollar is an employee that is making you money. saving will never payoff in the end. you have to invest either in yourself or something your passionate about... meaning dont invest in something u know nothing of.

start a lawn business, create artwork, buy and sell cars, houses. just whatever it takes to make that extra cash flow. trust me in a few years when SS is dried up and no money left for retirement, you will be happy that you took the time to invest in something more than the govt promise of a retirement.

>>677716220
I won't rent to anyone that doesn't make at least 3x the rent. So yeah ideally rent should be between 25%-33% of your income.

>>677724697
She's 18, she just got a job out of hs. Makes almost $11/hr

>>677716220
1 week pay should be rent to be feasible.

>>677722719
Go back to japan you weeb, no one gives a fuck about family honor.

>>677716220
Ummm, did you say something?

>>677725369
Not for rent.
>>677720609

>>677725448
Oh, not bad.

>>677724089
sneaky sneaky

>>677716576
The bar of entry into real estate is too low. No one should listen to a typo shut you have to say.

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>>677722773
>Tfw I got a car for $1k with brand new tires and minor problems
>Fixed minor problems because I'm not 100% retarded, only 99.9%
>Liability insurance is $10 a month
>Paying $617 per month less than you

>>677724863
...my previous apartment in LJ was $1750/mo for an efficiency studio. ...an old 1950s motel converted into tiny 250sqft apartments.

My neighbors were amazed how cheaply I'd gotten in. They rent little old houses for $7k/mo.

I don't own a car, which limits how far I can live from the office.

>>677725369
one thing i learned from property management. never ever lease to a person who does not have ALL the money at once. you will have problems..
-not condoning
or can be a sneaky fuck, rent to a person you know cant afford it, take the deposit and the first and last when they cant pay next kick em and do it again. sorry pal no refunds on deposit

>>677725809
Ya, I did that shit when I was 20. Don't want a thousand dollar pos any more. Been there done that.

>>677725546
What?

the greatest thing about rental properties is after mortgage is paid in full, all monies received thereafter belong to you

>>677724089
and u sir need to be beat, with a shovel, on the head, by 6 black guys

>>677725964
If you were going to be a financially responsible citizen anon, at $1750 being 25% of your income, it'd mean you'd have to be netting 84k/yr, grossing what, 140k then? What person making 140k/yr would live in a 250sqft motel room turned efficiency apartment ?

25%, again not realistic.

Get a job at $16.83, then get a gf or roommate and boom. $950 rent is doable

>>677725809
Some of us aren't sixteen anymore dumb dumb

>>677726651
Nigga, if you made $140k/yr, there is no reason why you shouldn't have a nice reasonable home paid off in full in under 5 years, or you are pissing away money on all the wrong shit like some giant-type retard.

>>677726651
wrong math
try at a third of monthly income
thus anon makes around 75k a year gross

>>677726373
>rent should be between 25%-33% of your income.

>not for rent

>30% should go to BUYING a house.
>Rent should be FAR less

??

>>677726974
5 years? Are you fucking 13?

>>677717299

>Living with my parents sucks and we don't get along whatsoever I'm pretty much taking up space at this point

Spend all your time outside of the house like I did when I was a teenager.

>>677726974
idiot

>>677727118
>>677726974

Depends how much said reasonable home costs.

>>677727118
balloon payment niga balloon, and u better be ready to pay off...cough cough third mortage

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>>677726264

Learn to actually inspect the cars you buy? I had to change the front driver side wheel bearing which was $80 and 20 minutes from start to finish, and that was it. Two years later it's still going strong. Exterior is almost completely rust free, interior was pretty much spotless. I mean, personally I think it's preferable to getting raped every month with car bills.

Even if you had a thousand dollar shit car all it has to do is last two months to pay itself off compared to what you're already paying?

>>677726826
So because you're older you now feel the need to spend ridiculous amounts of money on a nice car to compensate for the fact you can't get your dick up anymore instead of just finding a good car that some idiot is dumping cheap and fixing it?

>>677725334
I do agree with that.

You need something on the side.

Even if you've worked a long time for a stable company, out of the blue they can give you a pink slip, a thank you, and a security guarded escort out of the building.

The issue is finding that other investment.

Most people are too stressed from their daily job + family + life shit to really research and invest in other things.

>>677725809
You know what's funny anon, is the longer you can do that, the more that $ turns out to be as you get older. You'll see your peers absolutely throwing years worth if their life's labors into slightly shinier but mechanically just as shitty cars like its nothing, and then piss and moan about not getting a $1/hr raise every year, or spend hundreds a month on cellphones or tv, and complain that the unlit eggs in the store cost 34 cents more than the cheapest ones. You'll wonder how they can just throw away years of their work without even considering it because "that's just what you do" is what they've been told and so they believe it. And you'll be far better off for the amount of effort and stress than they will ever be, but they will never understand.

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>>677727396
Lol man did that for years and years. Not knocking it at all. Just got tired of driving old and busted cars I have to work on. I make good money so I drive a nice car. I work on cars all day, don't want to have to work on my own.

>>677725260
>at least 3x the rent. So yeah ideally
retired snow birds live in trailer parks.

Those old fucks simply keep them in nice shape.

Trailers aren't just for poor people, maing.

Sure, it's like living in an RV, but I have good memories of traveling the country with my grandparents in a RV as a kid.

>>677724729
>Unless you have a job that gives you a pension.

>pension

How did the 1960s get on the internet?

>>677727972
Looks like robot poop.

>>677728308
i have a pension

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>>677728313
Fuck ya!

>>677727972

I really hope that's not your car or what you consider to be "nice"

>>677726014
Who the fuck would be dumb enough to pay a lease in total up front?

Where do you live?

>>677728683
No I drive a Mustang

>>677728542
Chewbacca defense nigga. if them glove don't fit u must acquit. do my client LOOK like Chewbacca?

>>677728498
Oh, so you work for the government...

>>677727319
True. Most homes in the nicer towns in most states are $200-250k. But if you get close to major metro areas, they either go up fast or plummet hard and little in between.

I nearly bought a 3 story home in the historic district in St Louis with wood floors, beautiful fireplaces on each floor, a pool in the back yard & 2 car garage, for... $27k. Because it's St Louis and the city was in the shit and still going there. If I'd have bought it, not touched it, and sold it later, I'd still have lost money.

So considering normals, sure, if you made $140k/yr, get to keep 85, and can't pay off a 200-250k home in 5 years, then sure, you suck. If you're one of these faggots that needs a whole household of new cars and all the damn yuppie shit you can imagine because no one ever had the good sense to teach you the difference between wants and needs, then sure, it's impossible. In fact, buy all that shit you can't afford, including the house, and file bankruptcy and stuck all your neighbors with the bill.

>>677716220
25% is decent if you're a blue collar type. Live well below your means, that way when shit happens you arent struggling to pay bills.

>>677729005
you drive a mustang and said you dont want to work on your own car? LOL

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get closer anons

financial guy here
>677777777

750 more posts to go :D

>>677729623
I was being sarcastic b/ro

>>677729681
incase u think i made a mistake, i am basing the stat on the fact the average post has a lapse of 65 in between

>>677728116
My happy memories of doing that were in a tent.

But I'm not about to go live in one.

>>677729367
Keep jewing Jewie McJewerson

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Paying off someones elses mortgage has to be the ultimate form of cuckery. Such is life when you're at the bottom of the barrel and will die at 58.

>>677720323
700k or 70k? If you intentionally didn't add an extra zero then your fucked big time.

>>677730256
40000 more

>677777777

rolling

Renting = paying into a richer persons retirement.

>>677729461
Except hat at $12/hr, spending 25% of your income on rent means you will very quickly find yourself out on the street, with neither an apartment, nor a job.

>you mean everywhere there's a job hiring people, there isn't proportionate cost of living options fir those ppl?

No.

>>677730480
Because a mortgage dosnt? Hahahaha....hahahahahahahahahaha

>>677730250
Keep on niggin, niggie noggerson.

>>677730669
Dude you're going to be too tired for school tomorrow.

>>677730480
>Mortgage, maintenance, & property taxes: the same.

>>677730858

>>677730250

>>677730644
>>677730866


No but the over pay of a mortgage is likely a percentage of the original price, (unless you are a fucking moron and get a 40 year mortgage). Then after it's done you own the house.

Where as rent is all of your money going to someone else. Even if they have expenses you are paying for them. Then after it's done, you have nothing.

>>677730866
That shit is included in your rent, or is at least mitigated by YOU for the renter.
Also you will pay off the mortgage some day, rent doesn't pay anything off, you have nothing years later.

>>677730480
rent money from the tenant hardly pays for property tax and maintenance... i'd hardly say they could retire off 1 person's rent. renting is often cheaper in the long run than buying.

>>677716220
You have to settle based on how much you make.
If you make $2000 a month, you can't really afford to pay $1000 rent. On top of bills, food, car payment, insurance, etc, it'll suck up most of your money. It may seem fine but without money to play with, save, or use freely, you'll get tired of it fast.

Another tip is to be realistic. If you're single, you don't need a 3 bedroom apartment. Get enough to be comfortable in and stick with it.

I lived in a 3 bed/2.5 bath house in Georgia, cost us $1250 in rent. Our combined income was somewhere around $80k. Money wasn't a problem but I hated the house, too much house for what we did.

>>677725448
thats what you get 99% of the time when you don't go to college newfag

>>677730988
>dat 1950s suburban planning sales pitch
>that's all there is to it anons
How fucking old are you?

>>677731188
Rents home. Dies at 80. Ends up with nothing.
Buys home. Dies at 80. Ends up with nothing.

>>677731279
Then why are they renting, out of the goodness of their hearts??

>Oh gee, I'm losing money every month, oh well as long as fuckface has a place to live.

>>677731188
when you die you still have nothing either way

>>677731412
Home paid off by 30/40 whatever
then to 80: More money for me

Renting:
then to 80: Money goes to renter.

>>677731550
You still have a fucking life until you die.
>>677731653

>>677731188
You faggot, I'd be paying 1/20th that splitting it with every other renter here. Have fun pissing away thousands on your taxes, and paying all the maintenance, only to get a divorce, hand it over to some cunt, or lose your job down the road, and have the bank snatch it back, or fall behind on your taxes when the property's real owner, the government, shows up and take it back.

Fuck that bullshit. I've seen it happen too many times. Never will I buy into that fucking racket. Not ever.

>>677731493
they aren't losing money if they are doing it right, but they are not making a living off of just 1 person

>>677731653
What do you do with said money?

>>677731279
Nobody would rent if they made pennies from it.

>>677731653

How are you making money buying a house? The only way would be selling it and buying a shitter house or you rent it out, which isn't as great as you make it seem since you're gonna be dealing with cheap fucks and niggers who will take to ride you out of rent if they can

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Just remember guys

Most landlords have multiple properties. You have to to make any decent profit.

>>677731653
a home is never paid off.
property tax, homeowners insurance, maintenance, utilities, repairs and upkeep, and probably a lot of other costs i cant think of. it adds up to a lot of money and a lot of work.

As a person who owns a house and rents an apartment for myself... I can tell you if you're a single dude, buy a house, pay it off... Then move out when the rental market is good. Buy another house with the rent money. It's fantastic.

Also, if you wanna save on utilities, put everything on a power bar and get in the habit for switching the power bars off. When I leave my house or apartment, the only things that are on are the fridge, stove, and if it's hot my AC set at 80.

>>677731188
Until the "financial products innovators" crash the fucking market YET AGAIN and your house user worth shit, and you lose everything you put into it.

>>677731882
>but they are not making a living

People do side jobs for money that's not livable.
It's still extra money.

>just 1 person

Why is just 1 person a thing here? The renter could have multiple inflated rent costs.
Besides, they can sell the house.
Renter(s) buy house for you, you sell house.

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>>677732138
Ya ok man

>>677716220

70% here, but that's cause i'm working a shit job while I get my degree. I've actually got a job lined up after graduation that'll put it more like 25% once i'm in a cheaper apartment.

>>677732071
If i'm spending less I have more money. Not technically making more, but I have more for other things.

>>677732223
Utilities, renters pay those separate usually.
Property tax + insurance + upkeep, averages less then rent.
If it didn't then renters would be losing money, and NO ONE would rent.

>>677732769
fuck, first line should be rentee.

>>677732534

As it has been pointed out multiple times already, buying a house is almost always more expensive

Especially in NJ where some mortgages could easily surpass 2000+ on top of paying property taxes

>>677732223
Granted I should have said mortgage, but that should be obvious.

>>677732769
im not talking about renting. im talking about how owning a home still costs you money even after you finish buying it.

sure you can get someone to move in and pay for all that, but its going to be like working another job... being a landlord is a real fucking hassle... so in the end you are still working to pay for all that stuff

>>677716220
44yo.
I can pack everything I have into the 4Runner and my canoe on the roof, and be on the road on my way to a new job and home in any town, city, state, or country in the hemisphere in under an hour.

There is no way I will ever buy a house and be obligated to a giant hulking heap of inanimate liabilities. The native murricans turned out to be right; nomadic migrations are the best way to live on this continent. Travel with the best seasons, enjoy good foods, stay active, don't trash any one place too long, etc. Sedentary euro society was a big fucking mistake.

According to thismortgage calculator,the total interest paid on a 250,000 mortgage at 5% interest is $106,000 for a 15 year mortgage. That is almost $600 per month you are losing which is the most I have ever paid for rent. You must also take into account other costs such as homeowner’s insurance which is higher than renter’s insurance, realtor fees for selling the house, property taxes, and repairs and upkeep for the house (although if you are the handyman type who enjoys home projects the last wouldn’t amount to much). It is true that money paid against the principal does turn into equity for the house, but the other expenses bite into your wallet and that is money that could go into a 401K, starting a side business, or some other investment with a steady return.

>>677716576
Whether it is more favorable to buy or rent depends on a lot of factors and circumstances which will vary from person to person. I bought a house and have been here close to 10 years. That was the right choice for me but it may not be the right choice for someone else.

>>677733458
Indeed.
My dad is 70 and after 2 divorces finally paying off his house, and his takes are 12k/yr. My rent is 500/mo, and my snow is always shoveled, my path is always lit, my utilities are always running, my lawn is always mowed, the roof never leaks, the door never creaks, the floor is always shiny, and I can focus on more important things, like my work, or relaxing.

Worth every penny I'm spending, and certainly all the pennies I'm not.

>>677733798
but wouldn't it have been less money and less work if you had rented a similar house for 10 years?

>>677734429
You'd dads entire life's savings are tied up in his house. You pay half what he does in taxes and you get to invest your lives savings however you want.

>>677733458
Which is one of the reasons you can't objectively say that owning is better or worse than renting.

That said, no one is going to willingly lose money renting a house.
Therefore: renting a X value house for life is worse than buying that X value house

>>677719373
Credit scores cap at 850 nigga!!!

>>677732411
got his ass

Renting is better.
If you are the one renting out the house, get some dumb sucker to pay into your equity, while they get nothing comparatively.

>they get a place to live
You get that if you buy too

>>677734790
What?

There are all kinds of cases in this very thread why people would rather not be permanently shackled to a fucking house, and be able to pay a fraction of the cost and not be beholden to its total cost of ownership.

What you talkin bout sucka

>>677734908
1000

Just got mine back and asked.

>>677735103
Ok, just because 1k per month, is a fraction of 250k doesn't mean it's cheaper, unless you don't plan on living very long.

Mortgage + ownership costs > rent
Ownership costs < rent

Mortgage gets paid off one day, plus you can sell the house.

>>677735103
No one reads the thread before they post anon. Everyone just assumes the firs tthought that pops into their empty fuckin head is unique and special and is all there is to it, and will render whatever conversation that came before entirely worthless. Hence, every thread full of mostly the same brainless posts, regardless of whether or not they've just been refuted 100 times.

>>677718133
Not everyone lives in but fuck nowhere or a 2nd world country. 1 br cost 300k - 450k where I live

>>677735402
Have you read a single post in this thread at all you fuckin nitwit?

>>677716220
Below 30% of take home income is ideal. This is not always do able in areas like SF Bay or NYC when you're first going out on your own. Just don't get in over your head

Renting is better for something you don't need all the time.
If you need it all the time, buy it. Cheaper in the long run.

>>677735940
yea, renters don't rent to lose money.
If it's cheaper to rent, then they are.

>>677735801
Congrats, you let the Jews turn your real estate into a get rich quick scheme for their own benefit, while you have laboring for the rest of your life to fund their lifestyle to look forward to.

Look how proud you are.

Case in point right here:

>>677735790

>>677717129
>>677717882
No so think about it this way. If you rent a place for let's say 11k a year then you are literally wasting your money. If you buy a house, you spend more money initially but then get it returned to you when you sell the house. You even have a chance of making money. Buying houses/apartments are always great investments.

>>677736442
Unless artificially inflated, but rent will reflect this too.
A good reason to rent is if you move around a lot, basically out of necessity.

Otherwise, yes: Buy > rent.

>>677735801
FUCKING MOVE

>>677736004
If it flies, floats or fucks, it's better to rent it.

Or it requires you to keep working job you hate for decades at a time to support it while it does nothing but pick your pocket and give you a place to sleep while you go do that job for it.

Get-rich-quick schemes aside, everyone eventually learns not to be a slave to material possessions.
A house is the monster of all material possessions. Eventually it will eat you alive or you will either die waiting for it to.

I would really appreciate advice /b/ Im 19 almost 20
I make $35000 a year, Stable full time job, and very good benefits.
I live with my parents though, Im very jealous of people my age who live in there own apartments though because I want to be independant and have more freedoms.
I can do whatever I want and have an entire basement to myself with an living room bedroom and office.

Ive been saving almost all my money so far. With roughly $23,000 in my bank after buying a new car.
What would you guys recommend?
Should I really care about living in my own place when Im often working 45-50+hours a week?
Should I instead continue saving my money the next (5-10) years? (Im great at saving money and usually only spend it on drugs on occasion) my parents are elderly also, So they have made it clear they appreciate and enjoy me continuing to living there.
I just hangout at my friends apartment where they mostly all live and thats enough time away for me to not feel stuck at my parents house.
Im just asking for advice or ideas you guys have. I think Im doing pretty good for my age and make more then my friends who work at fast food restaurants. Should I save for 10 years and have hopefully at least $300,000 saved up and buy my own alpha place that totally shits on they're crappy apartments?

>>677734436
>but wouldn't it have been less money and less work if you had rented a similar house for 10 years?

What? No. I mean less work maybe, but when it comes time to sell you'd have to fuck up your house real, REAL bad to lose money compared to renting for 10 years straight.

This seems like such a weird thing to troll about, are people itt just too underaged to understand how this stuff works or something?

>>677716220
my spending :
10% Rent
15% everything else(grocery, gas, etc.)
75% goes into savings

>>677737247
Also I hate to think of my parents this way but I believe they said Id get there house when they passed. Its paid off

>>677736442
Except every time the market crashes and everyone loses 60% of the value of their homes and a third of everyone loses their fucking homes altogether. Then no, you don't always make money selling your home.

Or divorce when the ex wife gets it.
Or job loss when the bank takes it's back
Or back taxes when the government gets it back

Not that those things ever happen to anyone lol

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>>677727777
nice get

>>677737247
save up 300k. buy 300k in att stock. live off $15,000 dividends/year and quit your job and retire

>>677737413
I mean, since renting is pretty much throwing money straight into the toilet I guess it's good you're keeping yours so low, but most people consider 25-30% a safe amount to be spending on rent. If you're at 10% you're either living way below your means or you live in a really cheap area.

Again though, renting is throwing money away so if you're comfortable in a place where you're spending 10% then great.

>>677737640
Ok.
In ideal conditions, you can make money on your home.
Sometimes.
Though it's usually completely out of your control.

>>677737640

>Not that those things ever happen to anyone lol

I don't know what you mean, that happens to plenty of people who are stupid and don't plan anything.

>>677737775
How would I go about that?

>>677738038
step 1: save up 300k. step 2: buy 300k in att stock. step 3: live off $15,000 dividends/year and quit your job and retire

>>677737247
it depends on if you want a girlfriend or social life that requires your own place. if it were me, i'd move into an apartment and wait for my parents to die and get their house.