Have 9,000 in savings just bought a house what do.
Hold on to that money for the inevitable repairs and in case you get fired and have to make payments on your house.
Also
>buying a house
wrong choice 80% of the time. Rent master race reporting in
cocaine baby
>>1018682
Right, renters pay the same amount buyers do, but don't own anything after 30 years. "Masterrace"
>>1018691
Renters often pay less than owners when you factor in tax and repairs. Usually this happens more and more according to how expensive the house is.
Also you're fuccboi mortgage is structured so that you gain an insignificant amount of equity in the early years. The average home buyer moves out after 3 years or so. It's a bad deal for most people unless you have a super secure job and no ambitions of ever moving for 30 fucking years.
Also, houses do not actually appreciate in value over the long term. They literally just match inflation unless you hit the lotto and bought into some kind of boom town.
>>1018682
>wrong choice 80% of the time. Rent master race reporting in
Dumbest shit I've ever read.
>>1018682
This man belongs to the master race.
Housing is never an investment and only financial illiterates with a one-asset strategy think like this and never make it.
If you want to invest in real estate you do so indirectly, through REITs, property developers, the people who issue mortgages etc.
The interest you pay on a mortgage in addition to the principle makes renting much smarter in the broad sense.
>>1018682
It was made in 96, im going Into the air force and my parents will be looking after the tenate. My mortgage is 900 with insurance. I should be getting 1200-1300 a month from my renters.
Tell me again why this is a bad idea?
>>1018709
>>1018691
>not understanding that putting your down-payment into an index tracking fund for a 25 year mortgage term, a true shit for brains easy investment, vastly exceeds the returns on your amazing wow-so-adult-now house
>being on /biz/
Well I guess you're here to learn, so I suggest your internalise this comment and thank me when you're 50, have a phat investment, zero commitments, and are not trying to figure out how to extract the equity from your goldurnit house that goldurn dunt make me no money durnit
>>1018691
Renters pay less than than home "owners" who are also responsible for maintenance, insurance, all of the utilities, in addition to closing costs and agents fees when it comes time to sell your house and try to recover your equity, this is assuming the market isn't shit as well, which is already a 50-50 gamble.
The people with mortgages are generally the losers at the game of life. You see them dragging along some fat kids into a minivan, cul-de-sacs and basketball hoops in the driveways. Absolutely miserable existence. But most people don't deserve any better.
>>1018724
Where the fuck are you renting out half of a 150k house for 1200-1300?
>>1018738
>most people way way way over pay
Amen brother. MA fag reporting in.
We're a full fucking hour from Boston, which is a dangerous shithole, and it's still 300k for a 1910 ranch home on a shitty 8,000 lot.
>>1018735
not op here, but that's why I paid for my.house all at once
>>1018739
>150k crack den
>1200-1300 rent
Good point. This guy is dreaming.
Oh boy.
The house vs rent argument again.
I'm tired of arguing this shit so much when idiotic buyers remorse kicks in and people say "N-no it's the same cost or even cheaper to buy a house!"
>>1018744
If you bought your house in cash then you still fucked up since you could put that money to relatively low-risk assets that would net you much more than questionable real estate appreciation.
But you are a fraction of home buyers, so you shouldn't even be in this discussion. If you have $400,000 cash to tie up into a plywood monster, you must be a multi-millionaire.
>>1018724
It's fine. But it does help a lot that your parents are going to manage it when you are away cause the profitability really hinges on you not having to pay someone to do it. Renting isn't easy money by any means but it's not as dumb as buying a house for yourself to live in.
You do that as an entry tool, to negotiate a better price, and to eliminate several transfer costs.
at current rates it makes 0 sense not to refi at least 70% of the home conservatively, and throwing that money into some other investment. Even shit tier indexes pull 8%. Life insurance and annuities can get you 16% on your cash. and those are highly liquid investments.
>>1018744
Depends on your credit score and the rates you get but if you bought a house cash you should have an 800. They'll give you 4-5% The arbitration differential is 3%-4% on liquid investments.
That extra 2k a year on a 100k home covers the general maintenance.
You could
>>1018734
I went through a government program that allowed me to have a 3% down payment. I have that extra 9,000 that I have saved. I was thinking money market/etf/index fund.
>>1018746
That is what similar houses are going for in my area. Living near Nashville. It's in a very safe neighborhood/subdivision. I am using some of the money saved for renovations.
>>1018672
Call up an escort. Have her come over and blow you.
>>1018682
> building equity is a bad thing
Oh look, this argument again.
>>1018835
>Paying into a mortgage that may be worth more than the property itself in 8-15 years.
>Negative equity isn't a danger
I noticed that mortgage cucks are most financial illiterates.
