apollo_web
Contributor
User Power
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130%
- Jun 10, 2019
- 30
- 39
Hey there guys,
I'm interested in which camp you are in, have you bought your residence? Or do you rent?
Was speaking with a long time friend earlier today about the concept of buying a house to live in rather than the typical "throw money away" on rent argument you hear.
Went to the mortgage advisor, and could pick something up worth quarter million (UK pounds), at first I was excited at the prospect, but there's always something internally stopping me from pulling the trigger.
At first I couldn't ascertain whether it was fear, or whether it was my gut telling me I'm about to make a big mistake.
It's interesting, many people I know are now sitting pretty with a ton of equity in their homes having bought years ago... Despite being an entrepreneur, as of right I have a grand total of $0.00 in equity.
But a good litmus test, is when I look back I have zero regret having perpetually rented.
I've instead lived a unconventional life, lived in different countries, stories and experiences that would take days to document.
Digital products created from being on the move, gaining new skillsets.
Spent time in perpetual creation & ideas rather than repairing things.
In addition, if for whatever reason you need to scale back on living costs, you can lower your standard of living at a months notice, rather than being locked into a 30 year mortgage.
However I DO believe it depends on your stage of life. There's a time to rent, and a time own.
There's the idea of "house hacking" which I'm very interested in, bringing your monthly house expense to an minimum.
However they are only my thoughts of quite a controversial topic, would be great to hear what you guys think / any experiences you've had.
What are your thoughts?
I'm interested in which camp you are in, have you bought your residence? Or do you rent?
Was speaking with a long time friend earlier today about the concept of buying a house to live in rather than the typical "throw money away" on rent argument you hear.
Went to the mortgage advisor, and could pick something up worth quarter million (UK pounds), at first I was excited at the prospect, but there's always something internally stopping me from pulling the trigger.
At first I couldn't ascertain whether it was fear, or whether it was my gut telling me I'm about to make a big mistake.
It's interesting, many people I know are now sitting pretty with a ton of equity in their homes having bought years ago... Despite being an entrepreneur, as of right I have a grand total of $0.00 in equity.
But a good litmus test, is when I look back I have zero regret having perpetually rented.
I've instead lived a unconventional life, lived in different countries, stories and experiences that would take days to document.
Digital products created from being on the move, gaining new skillsets.
Spent time in perpetual creation & ideas rather than repairing things.
In addition, if for whatever reason you need to scale back on living costs, you can lower your standard of living at a months notice, rather than being locked into a 30 year mortgage.
However I DO believe it depends on your stage of life. There's a time to rent, and a time own.
There's the idea of "house hacking" which I'm very interested in, bringing your monthly house expense to an minimum.
However they are only my thoughts of quite a controversial topic, would be great to hear what you guys think / any experiences you've had.
What are your thoughts?
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Last edited: