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Discussion Would you rather own your own $250k house or have $500k in the bank?

Would you rather own your own $250k house or have $500k in the bank?


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Hoppipolla

Hoppipolla

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In the latter scenario of course you are not allowed to live in your own house so you'd have to rent or whatever.

Other than that the $500k is yours to do with as you wish including buying properties as an investment!

I'll make a poll!
 
Sneir

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In the latter scenario of course you are not allowed to live in your own house so you'd have to rent or whatever.

Other than that the $500k is yours to do with as you wish including buying properties as an investment!

I'll make a poll!
take your meds you can buy house for 250k and have 250k left in second case what a fucking dumb thread exposed I had to use my ritalin 200iq to demolish your fucking logic (in video game)
 
dungeondragon

dungeondragon

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I could rent in a fairly cheap area (not too cheap that I would be putting myself in harm's way); I could work my job and invest portions of that lump sum into index funds or something akin. I'm not super concerned about owning my own home - as long as I have a good sum of money in the bank and invested then I am content.
 
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NirvanaFan1988

NirvanaFan1988

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what would you rather have,; fuck 1 stacy or fucky 5 stacies?
 
ChadFUXXbetaBUXX

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jfl at this thread

would you rather have 100 dollars or 2 quadrillion dollars?
 
proudweeb

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I'd probably take the 500 stax and buy VTSAX, VIOV, VOE, VXUS, @Transcended Trucel @Zer0/∞ thoughts
 
Man

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40 years of rent is probably 500k then you start losing money.

250k home is 250k non depreciating.

Ignoring what you can do with 500k obviously.
 
TheDarkEnigma

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If it's in a farm far away from an urban area where I can be completely alone and have enough land to fulfill my needs, then yeah.
 
Hoppipolla

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I could rent in a fairly cheap area (not too cheap that I would be putting myself in harm's way); I could work my job and invest portions of that lump sum into index funds or something akin. I'm not super concerned about owning my own home - as long as I have a good sum of money in the bank and invested then I am content.

This is pretty much my attitude yeah.

Take as much cash as you can, earn as much cash as you can, but other than that don't worry about your exact assets too much.

I do understand though that there's probably a threshold. If you were very short of money then an opportunity to own your own house is something you'd take even just for security.

A small income from investments won't be enough to save you if your landlord chucks you out. So you have to hit that threshold I think.
 
wei#3959

wei#3959

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own house and live by self
 
Transcended Trucel

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I'd probably take the 500 stax and buy VTSAX, VIOV, VOE, VXUS, @Transcended Trucel @Zer0/∞ thoughts
high IQ and makes sense also logically as man said below, 500k is probably enough rent for 8-40 years depending on location. So still better off overall
40 years of rent is probably 500k then you start losing money.

250k home is 250k non depreciating.

Ignoring what you can do with 500k obviously.
 
BlkPillPres

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In the latter scenario of course you are not allowed to live in your own house so you'd have to rent or whatever.

Other than that the $500k is yours to do with as you wish including buying properties as an investment!

I'll make a poll!
Thread doesn't really make sense because I could take the $500K, buy a $250K house, and then I'd have the perk of option 1 plus an extra $250K. In fact I could buy an apartment to rent out with the cash I have left.
 
Hoppipolla

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Thread doesn't really make sense because I could take the $500K, buy a $250K house, and then I'd have the perk of option 1 plus an extra $250K. In fact I could buy an apartment to rent out with the cash I have left.

@Sneir made this mistake also!

I said right in the initial post (which you both quoted) that in this imaginary scenario you are not allowed to buy a house to live in with the money.

So you can buy property including houses but not to live in yourself.

Really I wrote it as a hypothetical scenario to try to understand just how strongly some people wanted to own their own home.

But there are probably other facets to it also :)
 
BlkPillPres

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@Sneir made this mistake also!

I said right in the initial post (which you both quoted) that in this imaginary scenario you are not allowed to buy a house to live in with the money.

So you can buy property including houses but not to live in yourself.

Really I wrote it as a hypothetical scenario to try to understand just how strongly some people wanted to own their own home.

But there are probably other facets to it also :)
Doesn't make a difference really. If I can rent out the $250K property that I buy, I can use the money I make from that to pay the rent of the apartment I live in. I'd also have a spare $250K to buy other properties to rent. The end result is the same.

Actually wealthy people usually rent instead of own.

As for your test, NEETs are more likely to take the house than the $500K.
 
Hoppipolla

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Doesn't make a difference really. If I can rent out the $250K property that I buy, I can use the money I make from that to pay the rent of the apartment I live in. I'd also have a spare $250K to buy other properties to rent. The end result is the same.

Actually wealthy people usually rent instead of own.

As for your test, NEETs are more likely to take the house than the $500K.

I 100% agree with you and that's the kind of thing I would do also!

I don't have a major desire to own my own home. It does mean no landlord but it also means a lot less freedom to up and move.
 
Words2_live_bye

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500k. With that i can buy 500 one thousand dollar escorts and help 500 of you niggas finally have something positive happen in your life :feelsmage:
 
BlkPillPres

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I 100% agree with you and that's the kind of thing I would do also!

I don't have a major desire to own my own home. It does mean no landlord but it also means a lot less freedom to up and move.
Owning a house that you live in is actually a liability, it isn't an asset. I'd much prefer to have assets that give me cash flow. Also renting and living in an apartment allows you to live a more free lifestyle.

If some shit happens I can leave without a worry, whereas if it's your house you are paying a huge mortgage on, you're fucked.
 
Hoppipolla

Hoppipolla

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Owning a house that you live in is actually a liability, it isn't an asset. I'd much prefer to have assets that give me cash flow. Also renting and living in an apartment allows you to live a more free lifestyle.

If some shit happens I can leave without a worry, whereas if it's your house you are paying a huge mortgage on, you're fucked.

I mean, you can rent out your own house and go, but an issue with that is that you would probably have bought it with yourself in mind as opposed to as a business investment. Therefore your rental yield will probably be at least a little bit lower than if you bought it as an investment.

A friend of mine is adamant that you can make far more money with airbnb than buy-to-let.

It's an interesting theory. It's probably true but I feel like it's less predictable because housing is in such high demand. The demand for airbnbs seems to be lower PLUS what people want from an airbnb seems a lot harder to predict. More risk / room to fail.

I'd love to try it one day though at least with a small property or maybe a rent-to-rent.
 
I.N.C.E.L.S. Boss

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I'd probably take the 500 stax and buy VTSAX, VIOV, VOE, VXUS, @Transcended Trucel @Zer0/∞ thoughts
You seem to be well versed in investing, you should make a thread on it to help unaware cels.
 
proudweeb

proudweeb

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You seem to be well versed in investing, you should make a thread on it to help unaware cels.
Not a bad idea, but I'm not sure how many people on here would actually be into investing
 
BraincelsRefugee

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$500k, you can set up a nice passive income with that, then move to some cheap place or idk live in a cave MarquisDeSade style. But with 500k and a modest lifestyle you may never have to work again.
 
Intellau_Celistic

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500K would allow me to seek medical attention.
 

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