Serious You have 100k dollars - does it make sense to buy an Apartment that costs 100k and needs 20k of extra renovation?

[TheJester]

Basically title.

You have 100k in your bank account. You dont own any other cash in any investment, Stocks or crypto.

You are sick of renting forever because rent prices also go up - now you want to buy a home that you basically can barely afford - but then you would have 0$ left.

Also you would essentially work and save up for another year to even be able to fully renovate the Apartment.

DOES THIS MAKE SENSE?!

 

[kaijicel]

No

 

[KingOfInceldia]

Buying a home sounds nice but the reality is you get ANCHORED into a location and God forbid you lose your job that u were paying ur house on

Owning real estate in 2024 is not even that great.

Welfare/section 8 NEETmaxxing neutralizes any high rent stuffs

 

[TheJester]

Buying a home sounds nice but the reality is you get ANCHORED into a location and God forbid you lose your job that u were paying ur house on

Owning real estate in 2024 is not even that great.

Welfare/section 8 NEETmaxxing neutralizes any high rent stuffs

I agree, its in Germany tho you pay A LOT of taxes next year because of some asshole shit the Government calls Grunderwerbsteuer.

 

[KingOfInceldia]

I agree, its in Germany tho you pay A LOT of taxes next year because of some asshole shit the Government calls Grunderwerbsteuer.

Germany is an a whole other level of tyranny compared to Burgerland

I'd run as fast you can JFL

 

[Todd Thundercock]

The only way homeowning makes sense anymore if you don't have a full loving family is if you want to put in time renovating and flipping them constantly.

 

[solblue]

You have to buy all cash?

 

[TheJester]

You have to buy all cash?

You can also buy in rates but this will potentially cost even more due to New german tax so you might buy the Apartment in one instant transaction.

 

[proudweeb]

I would put it all into VTSAX

 

[VideoGameCoper]

The only way homeowning makes sense anymore if you don't have a full loving family is if you want to put in time renovating and flipping them constantly.

Cheaper to keep the house if you already have one than rent an apartment. Rent is so overpriced that it costs way more than home repairs and taxes assuming the house is already payed off

 

[TheJester]

I would put it all into VTSAX

And what would that do? Performed worse then SPY which is worse then silver which is worse then BTC which is worse then DOGE which is worse then A LOT of tech stocks.

I have some but I also unfortunately lose money as probably most people do.

 

[proudweeb]

And what would that do? Performed worse then SPY which is worse then silver which is worse then BTC which is worse then DOGE which is worse then A LOT of tech stocks.

I have some but I also unfortunately lose money as probably most people do.

gets me probably 2 years closer to retirement (which is hopefully not far away, at the rate I've been saving, and how little I spend)

VTSAX performs about 99% the same as SPY (since 85% of the US total stock market is the S&P 500)

 

[TheJester]

paying ur house

Its not an house, its just an 2 bedroom Apartment JFL most actually cost even more then 120k even in that shit town that I looked into - its near Dresden tho.

Houses in Germany start at 600k+. Most modern family houses with around 120 m2 you wouldnt be able to sustain with anything but 6 figures or being a straight up millionaire. Its just how it is.

 

[TheJester]

gets me probably 2 years closer to retirement (which is hopefully not far away, at the rate I've been saving, and how little I spend)

VTSAX performs about 99% the same as SPY (since 85% of the US total stock market is the S&P 500)

Yes I understand you are probably still better with a split tech portfolio of NVDA, AAPL, PLTR, IONQ and WMT and a little BTC or DOGE.

 

[Todd Thundercock]

Cheaper to keep the house if you already have one than rent an apartment. Rent is so overpriced that it costs way more than home repairs and taxes assuming the house is already payed off

Yes, but maintaining a house gets really old and tiring after a while when you're by yourself. Wageslaving all week and then doing house errands all weekend is a slow road to roping.

I rent now in a Section 8 apartment that takes care of most things for me and it's a night and day difference.

 

[proudweeb]

Yes, but maintaining a house gets really old and tiring after a while when you're by yourself. Wageslaving all week and then doing house errands all weekend is a slow road to roping.

I feel this, I slave all week then come home and my furnace is pissing on the floor or something like that. I DIY a lot of stuff since I'm cheap, but it's a pain in the ass

 

[proudweeb]

Yes I understand you are probably still better with a split tech portfolio of NVDA, AAPL, PLTR, IONQ and WMT and a little BTC or DOGE.

VTSAX contains 6% apple, 6% nvda, plus plenty of others (goog, msft, etc)

enough tech stocks for me, they've already gone up so not sure if they can continue to go up forever

btc has some potential, it's plateauing around 100k now

 

[VideoGameCoper]

Yes, but maintaining a house gets really old and tiring after a while when you're by yourself. Wageslaving all week and then doing house errands all weekend is a slow road to roping.

I rent now in a Section 8 apartment that takes care of most things for me and it's a night and day difference.

Yeah, I live with my mother, but I do all the outdoor work and house repairs. The house repairs I can do myself anyway, since sometimes you gotta hire someone.

I also maintain the land at her countryside cabin and my grandfather’s yard. So in total, I cut the grass of 3 yards every week in summer. 2 are suburban yards that I do with a push mower, and one is a rural yard that takes 2-3 hours on a large riding mower to cut. Not to mention all the leaf cleanup in fall and snow in winter.

So yeah, if you don’t want extra work, I can see why you’d rent. But I like knowing I at least own something instead of renting. Plus I kinda like the yard work, at least using the riding mower anyway.

But it does sometimes get old to work a real job and do all this like I do

 

[TheJester]

VTSAX contains 6% apple, 6% nvda, plus plenty of others (goog, msft, etc)

enough tech stocks for me, they've already gone up so not sure if they can continue to go up forever

btc has some potential, it's plateauing around 100k now

Would you betabuxx for a girl?

Idk like whats your personal endgoal? Wageslave then NEET of your Investments and idk some sidegick.?

I mean lmfao I really dont wanna doom talk but whats the fucking endgoal?

You own a house/Apartment?

But even then idk (even for myself) what actually is the endgame here?

 

[proudweeb]

Would you betabuxx for a girl?

never

Idk like whats your personal endgoal? Wageslave then NEET of your Investments

yes, retire very early. Goal is to not have to wageslave anymore. Basically the end goal is freedom. I invest about 2/3 of my income, spend 1/3 so on track to get there sooner or later. NEETbux are not available in my country. No pensions either so people are on their own for retirement. Tax structure favors investment income (close to 0 tax on capital gains)

This way, I will minimize my contribution to the system, instead the system (large corporations, jews etc) will be working to support me

 

[TheJester]

never


yes, retire very early. Goal is to not have to wageslave anymore. Basically the end goal is freedom. I invest about 2/3 of my income, spend 1/3 so on track to get there sooner or later. NEETbux are not available in my country. No pensions either so people are on their own for retirement. Tax structure favors investment income (close to 0 tax on capital gains)

This way, I will minimize my contribution to the system, instead the system (large corporations, jews etc) will be working to support me

So just LDAR until death, i mean its one way, i guess a lot of chinese and japs and koreans do it now because its all pointless.

But that also means you 100% gave up on the family life too

 

[proudweeb]

So just LDAR until death

This is pretty much what I'm doing right now, just with wageslaving on top of it (it sucks) lol

But that also means you 100% gave up on the family life too

Looks like an extremely low probability that would happen for me, plus never really wanted kids

 

[RandomGuy]

The only way homeowning makes sense anymore if you don't have a full loving family is if you want to put in time renovating and flipping them constantly.

That pays the bills


View: https://youtu.be/gmpsXRiI3Og?si=Rvlt8Hadw2UApfEp

 

[starcrapoo]

if you have 100k, you put some of that into stocks/crypto, not as a down payment for your first home lol.

After you have enough after waiting patiently for your stocks/crypto to appreciate, find a home in a decent area with reasonable insurance/HOA fees, and property tax. You don't wanna buy a home that cost a lot to insure, has high HOA fees and property taxes because if all of those exceed $2k a month, you might as well just rent lol.

If you hit 100k in savings then congratulations. You'll be a millionaire eventually if you make the right investments and are patient.

I think warren buffet said that the first 100k was a "bitch". But after 100k, you can only win from there and get richer and richer if you invest correctly. Most dumbasses get to 100k and buy a corvette lol. The worst thing you could do from an investment standpoint after you've hit the 100k milestone.

 

[CPTSDfree]

hell no, you should always have some money left for emergency payments.