House vs apartment which one is better to start

[Anon101637]

Hi ! It's Alexis Autotte again I came here to ask a question that bugs me out a lot these times. So basically since I'm young I'm always told by financial advisors that your house in an investment which I'm not quite sure since you don't own the house at 100 % and you got to afford the mortgage and they say the house will take in value in the years to come and this and that but what's the point of living in a house you don't even own I think a house is actually a liability. So is it better to live on a minimalistic appartment and paying full cash than going on a house and then you got debts with bank so you have less money to invest on your business. Because like MJ he went to Phoenix and lived on a 900 $ appartment and rent it and built his business to solve a problem and I think that's the best thing to do to start. I don't have money to afford a house because I'm poor so I have litterally have no choice to live on a appartment. What are you guys thought ? I don't have a girlfriend and I plan to live alone on my appartment so paying the house full cash for me is going to be quite hard but it's really really possible

 

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[Guyfieri5]

Hi ! It's Alexis Autotte again I came here to ask a question that bugs me out a lot these times. So basically since I'm young I'm always told by financial advisors that your house in an investment which I'm not quite sure since you don't own the house at 100 % and you got to afford the mortgage and they say the house will take in value in the years to come and this and that but what's the point of living in a house you don't even own I think a house is actually a liability. So is it better to live on a minimalistic appartment and paying full cash than going on a house and then you got debts with bank so you have less money to invest on your business. Because like MJ he went to Phoenix and lived on a 900 $ appartment and rent it and built his business to solve a problem and I think that's the best thing to do to start. I don't have money to afford a house because I'm poor so I have litterally have no choice to live on a appartment. What are you guys thought ? I don't have a girlfriend and I plan to live alone on my appartment so paying the house full cash for me is going to be quite hard but it's really really possible
Do you plan on staying in the same place for a while?

 

[Anon101637]

Hi ! It's Alexis Autotte again I came here to ask a question that bugs me out a lot these times. So basically since I'm young I'm always told by financial advisors that your house in an investment which I'm not quite sure since you don't own the house at 100 % and you got to afford the mortgage and they say the house will take in value in the years to come and this and that but what's the point living in a house you don't even own I think a house is actually a liability. So is it better to live on a minimalistic appartment and paying full cash than going on a house and then you got debts with bank so you have less money to invest on your business. Because like MJ he went to Phoenix and lived on a 900 $ appartment and rent it and built his business to solve a problem and I think that's the best thing to do to start. I don't have money to afford a house because I'm poor so I have litterally have no choice to live on a appartment. What are you guys thought ?

General rule of thumb is that an apa

Do you plan on staying in the same place for a while?

Actually I want to build blogs, youtube channel and my business so yeah I plan to stay on a minimalistic house for a while and be alone so I won't have negative thoughts because of people and full focus over my project than after I become rich I would want to move out in Miami Florida away from my family and a really happy millionaire alone I really want to start my life over I feel like sometime I would want to bypass the state barrier between Canada and the United State like MJ was really courageous on his quest to become a multimillionaire. So basically I want to have my own computer job on the week so on the evening I build my mobile apps and business with Wordpress and find a way to solve a need so I build my passive income and money making machine and in the weekend I either do blogs or youtube channel or read book about a subject that can help me on my business or that I can talk on a blog I don't own a car so I'm going to do my grocery store by walking but I want to build a successful business so I can afford the house full cash otherwise I have to pay for the mortgage which doesn't give lots of freedom for a business so yeah I really want to live in Miami Florida. I don't want a girlfriend since I know that most of the time marriage end up in divorce and that a woman would certainly want a child which I'm strictly against since I'm an antinatalist who understand how suffering existence can be and I don't want a child to have autism.

 

[BD64]

If you are self-admittedly poor and unable to buy a house then why are even asking the question about whether it would be a good idea to buy ?

Figure out how to get some cash and then you can come back to this question.

 

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[Anon101637]

If you are self-admittedly poor and unable to buy a house then why are even asking the question about whether it would be a good idea to buy ?

Figure out how to get some cash and then you can come back to this question.

So I guess the appartment is a better bet since I have the cash to pay it

 

[BD64]

So I guess the appartment is a better bet since I have the cash to pay it

the apartment is the only bet since you can't buy a house

 

[Anon101637]

the apartment is the only bet since you can't buy a house

Yep I have to build assets and become rich so I can move out to florida but I'm still in college I plan to move out from my parents after college hopefully in Canada studies aren't that expensive but I want to become my quest of financial freedom right after college has finished I will die trying no matter what

 

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[biophase]

You are really asking if you should rent an apartment vs buy a house right?

You don’t need to buy a house all cash, and you can’t compare renting to owning in terms of cash. You need to calculate your monthly payment and down payment vs the cost of renting. Most of the time renting comes out cheaper if going by pure monthly payments.

 

[Anon101637]

You are really asking if you should rent an apartment vs buy a house right?

You don’t need to buy a house all cash, and you can’t compare renting to owning in terms of cash. You need to calculate your monthly payment and down payment vs the cost of renting. Most of the time renting comes out cheaper if going by pure monthly payments.

Of course I ask the question because lots of people say oh a house is an investment well when you buy the house with the mortgage it's harder to move out after than if you rent an appartment

 

[Guest-5ty5s4]

are you going to stay in the house for a long time? then buy it.

are you going to use the house as part of your wealth building strategy? (live in flip, move out later and turn it into a rental, etc.) then buy it.

If neither, then just rent for now. Because if you aren't committed to the house or don't have a plan to use it for some kind of wealth building strategy, then it's probably a bad decision.

(note that you don't have to use your home to build wealth, you could just use it as a place to live that is slightly better than renting, just need to commit to it, you shouldn't make such a big commitment on a whim, esp. if you might end up moving around or looking for better locations/opportunities)

for me, I knew I was going to be in this area long term, so I bought. And I also wanted to get into real estate, so I used it as part of my personal financial strategy (live in flips, HELOC, refis, buy to rent...) None of these are required at all to be successful. In fact, I'd say being mobile is a big advantage...

...but having a big garage and space to store sh!t is a big advantage too, especially if you are building a product or service business. Not if you are in saas or lead gen. Same with local connections and networks, if you have any of that.

It really all depends on who you are, what you are trying to do, in your super specific situation.

 

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[Anon101637]

are you going to stay in the house for a long time? then buy it.

are you going to use the house as part of your wealth building strategy? (live in flip, move out later and turn it into a rental, etc.) then buy it.

If neither, then just rent for now. Because if you aren't committed to the house or don't have a plan to use it for some kind of wealth building strategy, then it's probably a bad decision.

(note that you don't have to use your home to build wealth, you could just use it as a place to live that is slightly better than renting, just need to commit to it, you shouldn't make such a big commitment on a whim, esp. if you might end up moving around or looking for better locations/opportunities)

for me, I knew I was going to be in this area long term, so I bought. And I also wanted to get into real estate, so I used it as part of my personal financial strategy (live in flips, HELOC, refis, buy to rent...) None of these are required at all to be successful. In fact, I'd say being mobile is a big advantage...

...but having a big garage and space to store sh!t is a big advantage too, especially if you are building a product or service business. Not if you are in saas or lead gen. Same with local connections and networks, if you have any of that.

It really all depends on who you are, what you are trying to do, in your super specific situation.

I plan to live for a while on my appartment or maybe if I want to stay for a while I can find a house not too much expensive and affordable for my case which I'm lonely so I can build my business and finish my mobile app and work on the website and build my blogs and youtube channel on the weekend and I want to move out in Florida and stay forever there until the day I die

 

[Guest-5ty5s4]

I plan to live for a while on my appartment or maybe if I want to stay for a while I can find a house not too much expensive and affordable for my case which I'm lonely so I can build my business and finish my mobile app and work on the website and build my blogs and youtube channel on the weekend and I want to move out in Florida and stay forever there until the day I die

that sounds like a good plan. stay in the cheap apartment and work as consistently as you can on your business!

 

[Anon101637]

that sounds like a good plan. stay in the cheap apartment and work as consistently as you can on your business!

I just hate my life now I feel like I'm in a life I don't like I don't feel like I want children I struggle a lot with my autistic tendency and it's a bigger struggle with anxiety etc. and being a parent is just not for me and nothing can confirm a child would be happy on this world and I'm more happy when I do projects and I do something productive such as working out , reading books etc.

 

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[Guest-5ty5s4]

I just hate my life now I feel like I'm in a life I don't like I don't feel like I want children I struggle a lot with my autistic tendency and it's a bigger struggle with anxiety etc. and being a parent is just not for me and nothing can confirm a child would be happy on this world and I'm more happy when I do projects and I do something productive such as working out , reading books etc.

Make time to enjoy life. You can't always work. Are you a parent now? There is no rush if not. The forum can't give you answers to those major questions though.

 

[Anon101637]

Make time to enjoy life. You can't always work. Are you a parent now? There is no rush if not. The forum can't give you answers to those major questions though.

No I'm not and I don't plan to be it will delay my retirement

 

[biophase]

Of course I ask the question because lots of people say oh a house is an investment well when you buy the house with the mortgage it's harder to move out after than if you rent an apartment

Selling your house (moving out) whether you have a mortgage or paid cash is basically the same. Unless you owe more than what you sell the house for.

Saving up money to buy a house with all cash is a losing battle especially if inflation keeps going at its current rate.

But based on what you've written. I don't think you should be getting a house either. The apartment seems like the way to go for you now.

 

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[Guest-5ty5s4]

No I'm not and I don't plan to be it will delay my retirement

The whole point of fastlane versus slowlane is reaching your goals without giving up on those dreams, especially something as fundamental as having a family of your own. It shouldn't take you 50 years of coupon clipping, and you shouldn't have to deny yourself having a family.

 

[Maliardo]

Well, I think it's better to live in an apartment, to understand whether it suits you or not.
The apartment will come out cheaper, but the apartment is as well and minuses, such as neighbors, lack of yard, and you can not with animals, well, at least in most apartments.
I personally lived in an apartment and in the house.
I prefer to live in a house, there you can do what you need, no neighbors unhappy, the yard is, with a pet is great to have a home, especially if it's a dog.
House comes out of course more expensive to maintain, but not by much and it depends on what kind of house.
Personally, I feel safe in my house, I put myself on a video phone and no one will get to me.